ElectraCard Services’ EFT SWITCH goes live at Foreign Trade Bank, Cambodia
First bank in Cambodia to launch biometric enabled EFT Switch
ElectraCard Services, India’s leading electronic payment solutions provider, has launched electraSWITCH for Foreign Trade Bank (FTB), Cambodia. The Switch will drive biometric ATMs in Cambodia, the first of its kind in the country.
The bank has deployed ATMs with fingerprint recognition technology, voice instruction and simple screen graphics to help customers get the most out of a new way of banking. The system also saves them the trouble of remembering their ATM PIN as they can use their fingerprint to withdraw money through ATMs.
Elaborating on the security concerns electraSWITCH addresses, Mr. Gui Anvanith, General Manager and Board Member of Foreign Trade Bank said, “A large number of our customers are still not technology savvy enough to use ATM machines themselves. Handing over their own cards and sharing their PIN numbers with a friend or a relative to withdraw cash from ATMs are commonly found cases. The electraSWITCH with biometric technology will make ATM usage more user-friendly and convenient for FTB customers, thus averting ATM fraud risks to a large extent.”
“Biometric ATMs are the way of the future and ElectraCard Services’ deep domain knowledge, superior software technology and professional implementation methodology of this solution has provided FTB Bank with an exceptional solution which is in line with their objectives of operational excellence, cost reduction, and profitable growth.” said Ramesh Mengawade, CEO, ElectraCard Services.
FTB has also tied up with ElectraCard Services for other solutions including Credit cards and Prepaid cards that will be deployed soon to serve their customers in Cambodia.
About Foreign Trade Bank
FTB is Cambodia’s first bank. It is a joint private/Government venture and has been providing customers with safe and reliable banking services for more than 29 years. The Bank was created under the former regime of the State of Cambodia. In 2000, the Bank was separated from the direct management of the National Bank of Cambodia (the Central Bank) in order to transform its permanent identity into a State-owned commercial bank with the features of a Public Economic Enterprise and an aim to conduct autonomous business operations.
Presently, all operations of the Bank are performed in the Head Office situated in Phnom Penh and at a new full-service branch also in Phnom Penh.
About ElectraCard Services (ECS)
ElectraCard Services, a wholly owned subsidiary of Opus Software Solutions, provides third party processing services for credit and payments management across the world. ECS is a PCI DSS certified Third Party Processor (TPP) for MasterCard® and VISA® across the issuing and acquiring side. Its deep domain knowledge, extensive global experience and cost effective solutions address the speed to market and flexibility challenges of today’s market.
ECS enables financial institutions, retailers, finance companies and corporations to electronically process, in real-time, any type of payment transaction, including credit, debit, pre-paid, smart cards, and ACH. In addition to typical back office processing, ECS also offers ecommerce gateway and switching solutions. Its solutions support multiple institutions, multiple currencies, and varying processing requirements on a single platform.
By providing comprehensive and flexible solutions that can be deployed to a market of one, ECS offers unmatched services and solutions.
www.electracard.com
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