certifing Visa PayWave and MasterCard PayPass
State Savings Bank of Ukraine (Oschadbank) and OpenWay, a developer of software solutions for issuing and processing payment cards and electronic money, have completed a project to certify Visa PayWave and MasterCard PayPass contactless card acquiring. The bank says that it is expanding the contactless payment acceptance network across the country.
“2012 was extremely important for us in terms of developing our card business. In March, the bank opened its own processing centre based on WAY4, which significantly increases our opportunities to offer new quality products and services,” said Anton Tyutyun, Oschadbank’s deputy chairman of the board. “From 2012-2015, Oschadbank intends to more than double its payment card issuing volume – from 1.8 million to 5 million, as well as to significantly expand the POS terminal network.”
This year the bank plans to begin a project for issuing contactless cards on the based on WAY4.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more
