Hungary-based Magyar Takarek Bank (MTB), the parent organisation of the Hungarian Savings Co-operative Banks and a subsidiary of Germany's DG Bank, is to deploy technology from Trintech to power its card issuing and merchant acquiring system.
The bank will use Trintech's PayWare eCMS product to provide payment card mangement services to a network of 122 savings co-operative banks in the country.
Franz Otto, managing director of MTB, says: "Hungary is one of Europe's fastest growing cards markets and we require next generation systems to handle the increase in volume...We chose to partner with Trintech because of their proven ability to deploy secure and scalable card payment solutions that can handle multiple merchants, card types and payment channels."
PayWare eCMS is comprised of two major modules, Issuer and Acquirer. PayWare eCMS Issuer enables card issuers to manage card programmes for their targeted cardholders. PayWare eCMS Acquirer is a merchant account handling and settlement solution allowing the bank to fully manage their merchant acquiring services including account set-up, determination of merchant account parameters and settlement of funds.