It's no secret that contactless technology can speed up customer service, expand acquiring networks and increase profit but the majority of contactless projects today are loss-incurring. Many companies aren't in a hurry to use contactless and are waiting for other market players to expand the acceptance network, doing the most expensive work and paving the way for contactless. However there are examples that show how this innovation can be used successfully and be profitable even in a project's early stage. Bank Audi is one such example: 4 months after implementing products based on contactless cards, Bank Audi customers are paying for 50% of their purchases with these cards.
Project: WAY4 Contactless cards (issuing and acquiring) (2012 - 2013)
Exactly ten years ago Ukreximbank started issuing and acquiring international payment cards on the WAY4 processing platform. Vitaly Vladimirovich Belous, a deputy chairman of the board of JSC Ukreximbank, told Carte Blanche magazine about the development of the bank’s card business over the last decade and its prospects.
Project: WAY4 CMS, Switch, Multi-Channel Banking (2003 - 2013)
In the spring of 2011, Azerbaijan’s largest ATM network allowed its users to withdraw bank transfers in cash without a bankcard. This innovative financial service, unprecedented in Europe and the CIS, was introduced to the market by AzeriCard, the country’s leading processing centre. We talk with Anar Sultanov, CEO of AzeriCard, about the WAY4 Cash by Code technology, the idea of the mobile “cardless wallet”, and mobile banking.
Project: Mobile Banking (2010 - 2011)
The Savings Bank of the Russian Federation (Sberbank) is one of the oldest and largest banks in Central and Eastern Europe. It is a publicly traded commercial bank with 20,000 branches operating in 11 time zones. With a portfolio of more than 14 million debit and credit cards and a 30% share of the Russian market, Sberbank is today one of the world’s leading issuers and acquirers. With more than 165 years of business heritage, Sberbank is now actively developing its international card acquiring network, which currently extends to 1,174 cities across 79 of Russia’s regions.
Project: Debit and Credit Card Issuing and Acquiring (2003 - 2004)