Ukrainian banks can connect up to 400 types of paid services on "Global Money" alternative channels via WAY4

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Ukrainian banks can connect up to 400 types of paid services on "Global Money" alternative channels via WAY4

Integration of the "Global Money" Ukrainian payment system with WAY4, payment processing system developed by OpenWay – a world leader in IT solutions, makes it possible for Ukrainian banks to connect up to 400 types of paid services and develop alternative channels for interacting with clients.

February 12, 2013

The synergy between Global Money and WAY4 system makes the process of starting joint projects with banks significantly easier. Many financial institutions already work on OpenWay's card processing, allowing the elimination of expenses for reworking the system, while the Global Money payment system has direct contracts with companies to which payments are made.

“From 400 services, banks simply select those that are the most in demand and we promptly connect ATMs and terminals to them; it's also possible to connect Internet banking," explained Yuri Korzh, Global Money's Director of Corporate Management and Payment System Control. “Partnerships between payment systems and banks to implement new products will be one of the main trends of 2013," he remarked.

The first such project has already been implemented at more than 1,500 State Savings Bank of Ukraine (Oschadbank) ATMs. In particular, now all holders of payment cards issued by this bank can top up their mobile accounts both of GSM and CDMA networks, and pay for Internet and IP telephony services. At the present time, 24 service providers are available Oschadbank ATM menus, a list that will constantly be expanding. The vast majority of devices work around the clock, providing maximum availability of services for the holders of more than 7 million Oschadbank cards.

"Improvement in the quality of client service, constant expansion of the list of products and services, including alternative channels for interacting with clients – these are priorities for the development of Oschadbank – which for many years has been an example of stability and reliability," commented Anton Tyutyun, Oschadbank's Deputy Chair of the Board.

Global Money

According to The National Bank of Ukraine, GlobalMoney payment system is the leader of the Ukrainian market of electronic money. E-money is issued by the State Savings Bank of Ukraine (Oschadbank).

The system is allowing to pay for goods and services online (via electronics wallets) and offline (via own network of agents). Partner network consists of more than 55 000 network entrance points. Company works with leading Ukrainian companies in various segments. The system performs more than 300 000 transactions daily. Growth rate of this indicator 20-40% per month.

http://https://www.globalmoney.ua

Oschadbank

The Public Joint-Stock Company “State Savings Bank of Ukraine” is one of the largest financial institutions in Ukraine, having the most extensive branch network in the country. Oschadbank is the only Ukrainian bank that enjoys the unique state guarantee on all retail deposits. JSC “Oschadbank” is the most reliable bank according to the “Korrespondent” magazine and the investment company “Dragon Capital” and also holds its leadership in deposit reliability rating according to the Internet-magazine “Real economy”.

http://www.oschadnybank.com

OpenWay Group

OpenWay Group (www.openwaygroup.com) – is a recognized leader in software solutions for issuing and acquiring bankcards, payment processing, remote banking service and financial transaction routing (rated as "strong positive" by Gartner since 2009*. The customer-centric WAY4 solution successfully operates in 110 banks, processing companies and telecoms in Europe, America, Asia, Africa, the Middle East, in Russia and the CIS.

WAY4 is a flexible processing platform for all types of bankcards, deposits, credits, current accounts, mobile money and other financial products; payment gateways, for building virtual banks with a wide range of financial services, targeted marketing campaigns and cross-sales in ATM networks, kiosks, through the Internet, mobile phones and other channels.

Based on open platform clusters, WAY4 works 24x7 and scales from compact to high-end systems supporting more than 3000 TPS and 150 million cards.

WAY4 is certified by MasterCard, Visa, AMEX, Diners Club, JCB, CUP and PCI SSC (PA-DSS compliant).

* The reports “MarketScope for Multiregional Card Management Software” by Kristin R. Moyer, 27.05.2009 and 22.06.2010. The MarketScope is copyrighted 2009 by Gartner, Inc. and is reused with permission. The MarketScope is an evaluation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the MarketScope, and does not advise technology users to select only those vendors with the highest rating. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

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