This project provides the following features and capabilities:
The creation of a switching and clearing center for local card payments based on Tietoevry Card Suite is a comprehensive solution to simplify the processes of authorization and processing of card transactions, clearing and interbank settlements, disputable transactions on payment cards. The platform will enable central banks to offer new interaction services, and ensure data processing for participants of the payment system. Implementing this solution will ensure central banks a possibility to offer interactive services among the participants of the local card payment system on a new level - by implementing new schemes of interbank settlement as well as by improving the efficiency of data processing and exchange.
Switching and clearing system of local card transactions is about reliability, performance, round-the clock availability and risk reduction. All processes are carried out in an ultra-modern, high-performance, strictly regulated and fully protected infrastructure, in accordance with the requirements of the Payment Application Data Security Standard (PA-DSS) and the Payment Card Industry Data Security Standard (PCI DSS). The switching and clearing solution processes electronic funds transfers using the latest object-oriented techniques.
Result: This project was developed to simplify, optimize and increase the level of security of local card transactions, as a result of which a wide range of technological and secure payment services was offered to all participants of the system.