Home News & events Press Releases 2012 Kapital Bank launches an instant money transfer service based on TranzWare

 

Kapital Bank launches an instant money transfer service based on TranzWare from Compass Plus

Kapital_BankKapital Bank is one of the first in the South Caucasus to launch an instant money transfer service - Cash by Сode - implemented on the TranzWare processing platform from Compass Plus. The service allows customers of the bank to make online money transfers in real-time using a special code, which later serves as an identifier to receive the money.

To use this service a cardholder selects the Cash by Code option via Internet banking, built on the TranzWare Internet Banking system, or at an ATM, and enters the transfer amount and the recipient’s mobile phone number. The TranzWare Online processing system will then generate a special code consisting of two parts; one part is printed on the receipt or displayed on the sender’s screen, and the other is sent via SMS to the recipient. As the recipient needs both parts of the code to withdraw the funds the sender must then send the first part of the code to the recipient. When both parts of the code are entered into an ATM, the recipient will be able to access the money. The generated code is active for 24 hours.

Kapital Bank’s ATM network currently comprises of more than 450 devices covers all regions of the republic of Azerbaijan making this service widely available to its customers.

About Kapital Bank:

Kapital Bank, being the successor of Sberbank, has over 100 years of commercial activity. The bank was privatised in 2005 and became the largest privately owned bank in Azerbaijan. Currently Kapital Bank has the widest branch network across Azerbaijan (about 100 branches) and implements the project covering the payment of state pensions and benefits in the country. The launch of its in-house processing centre took placed in May 2009. This project entailed the large-scale simultaneous migration of the issuing part (about 2 million cards) and the acquiring network of the bank (about 300 ATMs and 1,000 POS-terminals) from the previous processing host. Currently Kapital Bank uses a wide range of the TranzWare software products: TranzWare Online, TranzWare Card Management System, TranzWare Card Factory, TranzWare Fraud Analyzer, TranzWare Internet Banking, TranzWare Mobile Banking and TranzWare e-Commerce. The bank is a Principle Member of Mastercard and Visa International and actively develops the most state-of-the-art technologies and services.

www.kapitalbank.az

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