Press Releases 2001
CTL fully compliant with MasterCard IPM
CTL systems installed at Armenia's Central Bank
Processing Centre
MasterCard and Card Tech Limited expand
Global capabilities of Corporate Card issuers
VSDC implementation by CTL and NBAD
Banking Technologies 2001 Exhibition, Kuala Lumpur
MasterCard and CTL deliver commercial card solution
Card Tech delivers a secure future
Card Tech Limited: Investing in Russia
CTL fully compliant with MasterCard IPM
Press Release - from the CTL
Press Office, December 2001
Card Tech Limited's systems have fully satisfied MasterCard's testing requirements for the new IPM format. CTL received a certificate of compliance from MasterCard on 4th December.
Testing was carried out for the following programmes and service
solutions: Air, Cash Disburse- ment, Lodging, Master Phone, Mail Order,
Payment, CAT, Restaurant, and Vehicle Rental.
CTL systems installed at Armenia's Central Bank Processing Centre
Press Release - from the CTL
Press Office, December 2001
The Central Bank of Armenia has commenced processing bankcards through their wholly owned subsidiary ARCA
using Card Tech’s multi-institutional card management system. Funding for the implementation of the system was provided by USAID.
ARCA currently provides issuer and acquirer processing facilities for eleven local banks. The processing company’s plans, which will be fully supported by the CTL systems, are very extensive.
Initially ARCA will be providing proprietary local card processing and full POS and ATM acquiring to the banks. It
plans to extend this to Visa and
Europay/MasterCard shortly, with a potential of acquiring the other international payment
associations. The CTL systems that have been installed are also smart card
compliant, providing ARCA the capability of processing both magnetic stripe
and chip cards.
The project was completed on time and to the pre-agreed budget. CTL undertook the project management role, integrating several technologies to ensure the success of the implementation. Andrei
Povarov, CTL’s Project Manager stated, that: ‘At the outset the challenges where significant. However the project team worked well together. We wish ARCA every success in developing the payment system infrastructure in Armenia’.
MasterCard and Card Tech Limited expand Global capabilities of
Corporate Card issuers
Press Release - from MasterCard and the CTL
Press Office, October 2001
Pact Offers MasterCard Corporate Card Issuers Enhanced Data
Purchase, N.Y. – October 2, 2001 – MasterCard International and Card Tech Limited (CTL), a payment card systems and solutions provider headquartered in London, have teamed to develop a software solution that will offer MasterCard member financial institutions extended global capabilities for their MasterCard Corporate Card™ programs. The agreement will enable MasterCard’s Corporate Card issuers to provide detailed reporting capabilities, such as line-item detail, travel records, lodging, purchasing and sales tax information in local denominations from many global markets. MasterCard card programs that will benefit from the agreement include the MasterCard Corporate Card, the MasterCard Corporate Purchasing Card™ and the MasterCard Corporate Multi Card™.
As part of the agreement, CTL will enhance its current commercial card functionality to provide customized software systems and international corporate card processing support for MasterCard's Corporate Card-issuing institutions. As a result, MasterCard Corporate Card issuers will be able to offer extensive integration with MasterCard’s existing data management tools, such as MasterCard Smart Data OnLine™, in markets around the globe.
Additionally, MasterCard’s agreement with CTL will permit corporate card administrators enhanced capabilities for multi-level authorisation control, centralized/individualized billing requirements, as well as purchase reporting functionality. For example, the solution from CTL will enable MasterCard member institutions to provide card programs with multi-dimensional reporting hierarchies for customized data delivery, helping to conform with strict budgetary controls found in many corporations.
Other benefits for the member financial institution will include features to block merchant category codes according to specific types of merchants and enhanced risk control through the ability to monitor risk exposure on a divisional or individual basis.
“The relationship with CTL translates into significantly expanded capabilities and service offerings for MasterCard, its issuers and their corporate clients in the global marketplace,” said Steve Abrams, Corporate Payment Solutions, MasterCard International. “Our combined efforts with CTL will arm MasterCard members around the world with one of the most comprehensive and flexible corporate card programs in the industry. Now, more than ever, MasterCard will deliver to cardholders an unparalleled level of service in data delivery, acceptance and support.”
Through CTL, MasterCard financial institutions will receive full life-cycle support offered through fast-track implementation, integration, certification and training for the configuration of commercial programs required. Additionally, CTL has dedicated substantial local customer support for the financial institutions that utilize the service. Development of the MasterCard/CTL solution is currently underway, with roll-out beginning October 2001.
“CTL
is pleased to enhance its services to support MasterCard’s suite
of corporate programs,” said Jaffar Agha-Jaffar, managing director
of CTL. “This milestone effort will enable MasterCard’s members
to offer multi-currency, multi-country functionality, specifically tailored
to the needs of their corporate clients. It represents a significant step
in CTL’s commitment to the commercial card market.”
VSDC implementation by CTL and NBAD
Press Release - from NBAD and the CTL
Press Office, September 2001
National Bank of Abu Dhabi (NBAD) and Card Tech Limited (CTL) are pleased to announce the implementation of Visa’s complete Smart Debit/Credit (VSDC) programme at NBAD. This will be the first Visa Smart credit card programme combining full issuer and acquirer functionalities in the Arabian peninsula. The programme is an important strategic move by NBAD, as it creates the infrastructure to help mitigate cardholder fraud and its implementation enhances the position of the bank in the payment cards market.
The planned launch re-enforces the bank’s position as one of the regional leaders in the payment industry as well as CTL’s role as one of the leading providers of comprehensive and integrated systems in support of its clients.
The relationship between NBAD and CTL started in June 1992, when the bank first started to issue and acquire Visa magnetic stripe cards. As the Bank expanded its personnel and corporate banking services, CTL provided the technology and technical know-how to facilitate this growth. In line with the bank’s mission to place the ‘customer first at the heart of the business’, the bank has continued to introduce new services, including Internet and WAP access for its customers. Part of this strategy is e-commerce acquiring for which CTL provided the transaction processing solution.
Khamis Buharoon, Head of Domestic Banking at NBAD, adds ‘Keeping in line with its mission to place the Customer at the heart of the business, NBAD has continued to introduce new services including Internet Banking, WAP services and various other products to offer a one-stop banking solution to its wide customer base of both individuals as well as corporates’. It has been in this spirit that the bank has launched the prestigious Smart Card program long before it becomes mandatory for implementation all over the world.
It is worthwhile to note that NBAD has won a series of banking awards both local as well as international, namely, the Global Finance Award for the Best Bank in the UAE for 2000 and the Euromoney Award for Excellence 2001 as the Best Domestic Bank in the country. It has also been the recipient of the prestigious Sheikh Khalifa Excellence Award 2001 for being the best and largest in terms of total assets, wide branch network and sizeable consumer base.
CTL have been working on chip card functionality with Visa since 1996. The first roll-out of this relationship is Visa’s Horizon product, which is being successfully launched in a number of African countries. Visa Horizon has in the meantime been fully upgraded to the globally interoperable EMV standards. CTL developed the VSDC compliant systems last year and became a member of the Visa SMART partner programme. Many of CTL’s other clients have already licensed Smart card modules, but NBAD is the first to integrate all of CTL’s offerings in this area.
Mrs. Edith Kessler-Charalambous, CTL’s Customer Services Manager, says of this project: “We are delighted to be working with NBAD to help ensure the success of this important decision by the bank. Chip is a strategic technology for CTL and our modular offerings can support each bank’s individual business case. CTL is also working with other parties in the smart card sector and we plan to introduce further innovations in this area. Smart cards will be one of the main topics covered at CTL’s forthcoming User Group.”
Iain Jamieson, Visa's Head of New technologies for the Middle East Region says 'The National Bank of Abu Dhabi, with this move, has confirmed its position as one of the leading banks in the Middle East in terms of technical innovation for the consumer’s benefit. The Visa Smart card will give NBAD customers the ability to use the latest in payment card technology, which provides the extra security features that chip cards contain, but also allows the customer to become familiar with the 'vehicle' which will undoubtedly carry all banking applications of the future.'
Read
the Gulf News article here.
Banking Technologies 2001 Exhibition, Kuala Lumpur
Press Release - from the CTL
Press Office, August 2001
Card Tech is delighted to be involved in this year’s Banking Technologies Asia exhibition in Kuala Lumpur. Card Tech has been at the forefront of software innovation for the bankcard industry since its inception thirteen years ago, and it is committed to supporting new and existing clients in Asia.
Card Tech’s expertise goes well beyond traditional card technologies: our solutions support the latest electronic purse and smart EMV chip products, virtual cards, and secure mobile and Web-based payments. They can be applied to issuing and acquiring programmes, and incorporate purchase and corporate applications. All of our solutions are built on a flexible foundation of open systems for card and merchant management, authorisation, message switching and key management. CTL implements solutions in many different business scenarios:
- Installation ‘from scratch’, lets you introduce a new card programme for applications such as chip, purchasing or distribution, or where there is potential to penetrate a new market such as Internet banking
- You can quickly upgrade or replace an existing card and merchant management system to make the most of new opportunities
- Several packages have been specifically configured in association with the payment systems for particular end uses. Visa START is a Visa-sponsored system that allows start-up banks to enter the issuing/acquiring market quickly and cost-effectively. AXCES provides a turnkey business card and BTA solution for American Express partners. JAMES is an acquiring package that meets all of JCB’s requirements.
MasterCard and CTL deliver commercial card solution
Press Release - from the CTL Press
Office, July 11th 2001
MasterCard and Card Tech Limited (CTL) have launched a new project to provide MasterCard member banks with fully compliant, comprehensive global commercial card support on CTL's innovative and highly successful card and merchant management systems. For this project CTL will enhance its existing commercial card functionality to fully support all MasterCard Corporate Payment Solutions, including line-item details, travel records, lodging, purchasing, and MasterCard SmartData Online reporting. CTL's systems are already operational in multi-currency, multi-country configurations, with wide ranging functionality specifically designed for the commercial card market, such as hierarchy management and authorisation controls.
The enhanced system will enable MasterCard member banks throughout the world to offer their clients the very best in purchasing, corporate and business card products and services. Banks, cardholders and merchants alike, will all benefit from CTL and MasterCard's shared commitment to supplying quality products and support: whilst CTL's systems will make it easier for banks to configure the commercial programmes that their clients require, MasterCard members who license CTL's systems with the MasterCard commercial card support will further benefit from guaranteed fast-track implementation, integration, certification, training, and full life-cycle support. Jaffar Agha-Jaffar, Managing Director of CTL, says, "We are delighted that this strategic relationship with MasterCard will benefit MasterCard's members. This is a significant step in CTL's ongoing commitment to the commercial card market sector."
Card Tech delivers a secure future
Press Release - from the CTL Press
Office, June 18th 2001
Card Tech has mobilised leading-edge technologies to enable Visa member banks to take full advantage of recent developments in the chip, electronic and mobile banking environments. Card Tech’s exceptional range of solutions allows swift implementation of new products while enabling banks to reduce risk and fraud.
The market-leading supplier of card and merchant management systems, Card Tech offers new solutions to each new challenge of the 21st Century card business.
We have forged strong business relationships based on cost-efficient, adaptable solutions, and have developed specific strategies for vital regions such as the CEMEA region of Visa. With the introduction of the Russian Market Initiative, for example, Card Tech has signified its intention to build on existing partnerships, offering enhanced services in both traditional and emerging business areas.
Card Tech’s chip solutions provide Visa members with an efficient and flexible migration path to Visa’s Smart Debit Credit chip card issuing and acquiring programmes. Card Tech’s new business products offer solutions for e-commerce, mobile payments and consolidated Web integration for issuers and acquirers.
Our experience enables us to tailor systems to suit your business environment. The comprehensive range of Card Tech Web solutions includes a fully customised virtual proxy card and wallet server for Internet purchases, consumer, corporate and merchant e-banking and highly secure e-services that provide Web access to back office card functions throughout a bank’s infrastructure.
Step confidently into the virtual world with Card Tech. Contact Card Tech Business Development, or your Business Account Officer to find out more.
Card Tech Limited: Investing in Russia
Press Release - from the CTL Press
Office, May 23rd 2001
Card Tech, the market-leading supplier of payments systems solutions, has announced plans to increase its investment in Russia. It is launching in support of this investment a programme of events entitled The Russian Market Initiative.
The Russian Market Initiative reflects Card Tech’s view that the Russian financial market will become one of the most important in the world over next few years. It is also recognition that, as market leader in its sector with twenty-eight existing clients, Card Tech has a responsibility to support the development of card businesses in Russia.
On 22nd May 2001, the UK company hosted an event for fifty-two senior bankers at the Baltschug Kempinski Hotel in Moscow, entitled ‘Payment Cards: An Under Performing Asset or the Smart Solution?’ This first event in The Russian Market Initiative was planned to stimulate a debate on the future direction of cards within Russia and to ensure that a sound and consistent knowledge base forms the platform to that debate.
Delegates heard from international speakers, including Professor Hamish McRea, the leading Futurist and well-known author. In addition to a number of thought-provoking presentations, a distinguished panel were challenged by questions from the invited guests. The panel included Jaffar Agha-Jaffar, the CEO of Card Tech International; Reginald Casey, International Banking Consultant and former General Manager of Standard Chartered Bank; and Stephen Hilling, CEO of MAIN Consultants, the specialist payments cards consultancy.
The keynote message from the conference was the announcement of Card Tech’s Russian Market Initiative. Mr Agha-Jaffar, CEO of Card Tech, observed:
“At the bank level we want to help by providing skills and resources to help selected banks achieve competitive advantage.
At the market level we want to help raise knowledge levels and awareness of external developments in order to positively influence the development of the market in Russia.
Our mission is to provide the correct solutions to meet business needs, at the right time and at the right price. We view these as complete business solutions involving a number of inter-related components.
Card Tech intends to form further long term business partnerships and to achieve competitive advantage through the application of advanced technology and expertise.”
Further announcements and events arising from The Russian Market Initiative will be made by Card Tech over the next three months.
Further details on Card Tech’s Russian Market Initiative may be obtained from Hussein Al-Uzri (Hussein.Al-Uzri@ctl.com) or Denis Shilakin (Denis.Shilakin@ctl.com).
Tel:
007 095 937 6377
Fax:
007 095 937 6378
Any other information may be obtained from the Press Office
Tel:
0044 (0)20 7761 7800
email: PressOffice@ctl.com
