Bank Audi and OpenWay Launch Contactless Cards
Bank Audi, one of the leading Arab banking groups in the Middle East, started to issue and acquire contactless cards on the WAY4 processing platform from OpenWay. As the region proved ready for new payment experience, the bank reacted in a fast and customer-centric way. MasterCard PayPass technology was implemented and certified in 2012. In 4 months, number of contactless cards was increased in 10 times in ABC mall, Lebanon’s most prominent shopping destination.
The year 2012 was the right time to promote contactless solutions, and fast time-to-market was a must. In October 2012 Bank Audi launched contactless cards co-branded with ABC mall, Lebanon’s most prominent shopping destination. In 4 months the number of these cards grew from 500 to 5000 cards, all issued on the WAY4 system.
Bank Audi’s success strategy was revealed in detail at OpenWay e-Payment Grand Prix user group. The presentation, including stats and retail signage examples, was published on OpenWay’s website.
It’s the bank’s vision that Big will not beat Small anymore, instead it will be Fast beating Slow. Bank Audi is growing its versatile payment portfolio and expanding rapidly in different regional and international markets, with being technology-forward as a high priority. The bank’s contactless technology created a more compelling consumer experience and therefore better business opportunities in issuing & acquiring.
Bank Audi chose to rely on OpenWay, with its flexible WAY4 processing software and solid experience of contactless implementations – over 20 cases worldwide. Following the successful MasterCard PayPass project, the bank plans to deploy Visa payWave and other innovative solutions on WAY4.
“We are proud to work with Bank Audi and accelerate the multi-direction growth of its payment processing business,” commented Sophocles Ioannou, OpenWay Regional Manager for Mediterranean and Levant. “OpenWay is ready to introduce tailor-made innovative solutions for the Middle East, by leveraging both global expertise and regional knowledge.”
The fast launch of Bank Audi’s contactless operations on WAY4 was handled by OpenWay and its local partner Infotec Systems.
Bank Audi is a banking group with a universal profile. In December 2012 the bank's assets reached $31.8 billion. The group is represented in six countries of the Middle East, in Egypt and Sudan as well as Turkey, France, Monaco and Switzerland. The group is in the top 20 banks in the region by assets, client deposits and net profit and in the top 10 for issuing credit cards.