OpenWay and AK BARS Bank, one of the top 20 banks in Russia and general partner of the 2013 Universiade in Kazan, Russia have recently implemented a number of innovative projects together. The results have been amazing: in a short time the bank has attained a new level of payment service based on contactless technologies and new delivery channels. The director of “AK BARS” Bank’s processing centre, Artur Khabibrakhmanov, shares the secrets of a successful partnership between bank and vendor.
Project: Electronic payments, prepaid cards, contactless, payment processing software migration (2013)
It's no secret that contactless technology can speed up customer service, expand acquiring networks and increase profit but the majority of contactless projects today are loss-incurring. Many companies aren't in a hurry to use contactless and are waiting for other market players to expand the acceptance network, doing the most expensive work and paving the way for contactless. However there are examples that show how this innovation can be used successfully and be profitable even in a project's early stage. Bank Audi is one such example: 4 months after implementing products based on contactless cards, Bank Audi customers are paying for 50% of their purchases with these cards.
Project: WAY4 Contactless cards (issuing and acquiring) (2012 - 2013)
Exactly ten years ago Ukreximbank started issuing and acquiring international payment cards on the WAY4 processing platform. Vitaly Vladimirovich Belous, a deputy chairman of the board of JSC Ukreximbank, told Carte Blanche magazine about the development of the bank’s card business over the last decade and its prospects.
Project: WAY4 CMS, Switch, Multi-Channel Banking (2003 - 2013)
In the spring of 2011, Azerbaijan’s largest ATM network allowed its users to withdraw bank transfers in cash without a bankcard. This innovative financial service, unprecedented in Europe and the CIS, was introduced to the market by AzeriCard, the country’s leading processing centre. We talk with Anar Sultanov, CEO of AzeriCard, about the WAY4 Cash by Code technology, the idea of the mobile “cardless wallet”, and mobile banking.
Project: Mobile Banking (2010 - 2011)