Home News & events Press Releases 2008 Moskomprivatbank supports plastic cards from Chicna UnionPay

 

Privat-Bank-engMoskomprivatbank, Russia, has proceeded to support plastic cards from the world’s largest payment system, China UnionPay, under the agreement between PrivatBank Banking Group (Moscomprivatbank is its member) and China UnionPay, the world-wide leader in terms of issued cards and acquiring network (mainly distributed in China).

Compass Plus provided technical support when implementing this project and its professional team developed a host-to-host interface between China UnionPay and TranzWare Online front-office, which the MosComPrivatBank processing center is built on.

The launch of this project was not the only significant event. Moscomprivatbank has also expanded its ATM network by installing its 2000th ATM-device. The celebrated ATM is located in Volgograd and is a state-of-the-art financial self-service device equipped with a Cash-In unit. The ATM was installed in the largest shopping mall of Volgograd in November 2008 and was the 4th ATM installed by Moscomprivatbank in this city.

Nikolai Davydov, Chairman of the Management Board of Moscomprivatbank, commented: “The priority of the bank in its development policy is to promote plastic cards including credit cards, for private and corporate customers. However one cannot feel all the advantages provided by cards without the appropriate infrastructure. It requires a wide-spread efficient ATM and acquiring network”.

Moscomprivatbank changed from the standard ATM-device to the universal remote banking device a while ago, and made its banking services available 24 hours. With ATMs, a customer can not only get cash in rubles or foreign currency, but also perform operations such as currency exchange, credit repayment, corporate card service, online replenishment of card accounts, mobile service payments, and setting up mobile banking.

The maintenance of the acquiring network and issuing part of Moscomprivatbank (over 500,000 cards issued) has been automated using TranzWare software products from Compass Plus. Business relations between the two companies were established in 2001, and the bank currently benefits from using the software product suite: the front-office solution TranzWare Online, the back-office system TranzWare CMS, the clearing and settlement mechanism TranzWare Interchange and the analytical fraud prevention system TranzWare Fraud Analyzer.

Moscow Commercial Bank, MoscomPrivatBank, was established on 10th May 1994, and registered by the Central Bank of the Russian Federation under license No.2827 dated 30.05.2006. Moscomprivatbank is a Member in Visa and MasterCard and participates in deposit insurance system.
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