CardStandard Processing Center: Annual Results 2011

CardStandard Processing Center (part of CFT Group) has announced 2011 annual results. Over the reporting period CardStandard PC has shown constant growth and dynamics of main business indicators: 18 new banks have started using the processing services, the number of cards issued by partner banks has increased 2.3 times.
One of the events of 2011 of greatest strategic importance for CardStandard PC was the granting of Payment Center Non-Bank Settlement and Credit Authority (NSCA) a status of a Principal Member and Sponsor of Visa and MasterCard payment systems. Jointly with Payment Center NSCA, CardStandard Payment Center provides consulting services for banks, and performs settlements with payment systems and claims activities. Within the framework of the project, CardStandard PC provides information and technological support for banks offering a wide choice of services and unique processing opportunities. In 2011, 14 banks transferred to the sponsorship of Payment Center NSCA, among them CFB Bank, Bank of Khakassia, Eniseisk United Bank, Kuznetskbusinessbank, and Zamoskvoretskiy Bank. Payment Center NSCA offers sponsorship both to new members of Visa и MasterCard payment systems and to banks changing the sponsor.
In 2011, CardStandard PC extended the geography of its business and started servicing banks in the CIS territory. RSK Bank OJSC (Kyrgyzstan) became the first customer of CardStandard PC in the territory of the former Soviet Union.
To manage customer cards and accounts, activate SMS notifications and flexibly adjust the commission of card products, in 2011 CFT specialists developed and installed the Card and Account Management Web Service (CAM-WS). The Service supports on-line banks’ interaction with CardStandard PC.
Certification of EMV card issue has been successfully completed in MasterCard payment system, and it allows increasing the security of performed transactions, decreasing losses to fraud and providing cardholders with additional services.
To improve customer servicing for cardholders, on-line integration of CardStandard PC and remote banking system (part of CFT GC) was arranged. The integration allows 7*24payment processing in Internet and mobile banking services by card account, where all transactions are performed only through CardStandard processing without involving the Core Banking System. Cardholders receive the opportunity to pay utility bills, transfer money in Russia and the CIS and use Mobile Bank.
“We are certain that our PC has grown to a brand new technological service level in terms of issue and acquiring of all types of cards, including EMV cards, and it is ready for efficient and complex support of the most complicated card products,” said Andrey Aleksandrovich, CEO of CardStandard PC.