IFS International, Inc. announced that the Ukrainian Processing Center has licensed TPII to acquire and process payment card transactions from ATM devices throughout Ukraine.
UPC is the main processing center in Ukraine and provides processing services, switching, ATM and POS management to around 15 banks throughout the country. With 52 million people and a fast-developing banking environment, Ukraine represents a major opportunity for payment card systems during the next three years. UPC has established itself as the main payment card processor in the region by using a number of in-house developed systems and the software system from the company Tieto Konts. In order to consolidate this position, UPC has made a significant investment and licensed the industry-proven TPII products to lead them into the next millennium.
In addition to solidifying the payment card terminal management and switching part of their business through TPII, UPC is also investigating the addition of electronic commerce services and enhanced payment card risk management to the services that they provide local banks. It is viewed that IFS’ products will provide the platform upon which to deliver these new components of their business.
Commenting on this significant and strategic new contract for IFS, Simon Theobald, executive vice president, stated, “The unrivalled success, to date, of the Ukrainian Processing Center is testament to the investments that they made in delivering appropriate solutions as their market required. IFS International is very proud that TPII was chosen to lead UPC into the next phase of its growth, spearheading payment card processing in Ukraine into the next millennium. We look forward to implementing our TPII software and then working together with UPC as they expand into other areas of payment card service.”
Dr. Volodymyr Sharayevsky, general director at the Ukrainian Processing Center, commented, “Having successfully built the main payment card processing center in Ukraine, UPC has recently been experiencing dramatic growth in terms of transactions and the number of terminals supported, with further growth planned. In order to deliver this mission-critical, high-profile service to our members, IFS’ TPII solution was selected as it has proved that it is capable of handling a large volume of terminals and transactions and will allow UPC to deliver further value added services to our members.”
About IFS International, Inc.
IFS International, Inc. and Network Controls International, Inc. are divisions of IFS International, Inc., which has headquarters in the USA and subsidiary offices in the USA, UK, Singapore, Australia, and Germany.
IFS International, Inc. develops, markets, and supports software products for the electronic funds transfer (EFT) market. IFS International’s TPII and TP-CMS suite of software products provide support for ATM, POS, network switches, smart-card, card management, bank teller platforms, home banking, and call-center solutions. NCI, Inc. provides complementary products, such as NCI Business Center, an enterprise-wide retail bank branch solution designed to deliver traditional and Internet/Intranet based transactions.Details