20 April 2014

Ukrainian payment system Global Money integrates with OpenWay

12 February 2013  |  792 views  |  0 Source: OpenWay

Integration of the "Global Money" Ukrainian payment system with WAY4, payment processing system developed by OpenWay - a world leader in IT solutions, makes it possible for Ukrainian banks to connect up to 400 types of paid services and develop alternative channels for interacting with clients.

The synergy between Global Money and WAY4 system makes the process of starting joint projects with banks significantly easier. Many financial institutions already work on OpenWay's card processing, allowing the elimination of expenses for reworking the system, while the Global Money payment system has direct contracts with companies to which payments are made.

"From 400 services, banks simply select those that are the most in demand and we promptly connect ATMs and terminals to them; it's also possible to connect Internet banking," explained Yuri Korzh, Global Money's Director of Corporate Management and Payment System Control. "Partnerships between payment systems and banks to implement new products will be one of the main trends of 2013," he remarked.

The first such project has already been implemented at more than 1,500 State Savings Bank of Ukraine (Oschadbank) ATMs. In particular, now all holders of payment cards issued by this bank can top up their mobile accounts both of GSM and CDMA networks, and pay for Internet and IP telephony services. At the present time, 24 service providers are available Oschadbank ATM menus, a list that will constantly be expanding. The vast majority of devices work around the clock, providing maximum availability of services for the holders of more than 7 million Oschadbank cards.

"Improvement in the quality of client service, constant expansion of the list of products and services, including alternative channels for interacting with clients - these are priorities for the development of Oschadbank - which for many years has been an example of stability and reliability," commented Anton Tyutyun, Oschadbank's Deputy Chair of the Board. 

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