Tieto is First Data's partner for a new payment card solution for state institutions in Latvia.
The solution is based on the Tieto Card Suite Acquiring module. It will substantially simplify and speed up the payment process for both state institutions and their end customers.
The service, provided to Latvian state institutions by First Data applying the Tieto advanced Card Suite functionality, is a convenient way of making payments. Instead of multiple bank transfers, the end users will now be able to pay for the services of Latvian state institutions with a payment card. The Tieto solution's configuration possibilities allow for automatically splitting the transaction amount into several dedicated accounts. State institutions benefit in terms of fewer queues, a significant decrease in manual work as well as in transaction cost savings leading to generally improved work efficiency.
"Detailed payment data receipt and processing is something completely new in Latvia. Therefore, solution development required additional knowledge and serious intellectual input from our specialists. The project was successfully implemented and completed within the set deadlines. These projects are a definite candidate for the innovation award in the payment card business," asserts Zanda Brïvule-Jansone, First Data Managing Director in Baltic and Nordic countries.
Maris Ozolins, Head of Cards, Tieto Financial Services says: "This project continues Tieto's long-term and successful cooperation with First Data. Security issues have become increasingly important and the fact that Tieto Card Suite has been chosen for state institutions once again proves the reliability and high-level security of our solution."