Aconite, a leading provider of software and consulting services for managing business applications on chips in smart cards, tokens or mobiles, today announced a partnership with Traderoot, a South African supplier of e-commerce transaction management solutions.
Under the terms of the partnership, Traderoot will supply Aconite's EMV and Smart Product solutions to African institutions issuing chip-based payment products, in sectors such as banking, retail, transit and healthcare.
Aconite's award-winning EMV and Smart Product portfolio includes:
- Aconite EMV Enablement solutions: enable a magnetic stripe card issuer to begin issuing EMV (Chip and PIN) products with minimal change to existing systems and business processes;
- Aconite EMV Risk Management solutions: allow issuers to dynamically manage cardholder credit risk related to offline EMV transactions through advanced post-issuance scripting;
- Aconite Smart Product Life-cycle Management solutions: enable a card issuer to manage its smart product portfolio, record individual product details issued to a customer, facilitating reissue and improving security and customer satisfaction;
- Aconite Smart Prepaid solutions: offer a fast track, low risk and lower cost route to the issuance of prepaid and contactless payment products based on EMV standards and chip technology.
Traderoot is a strategic e-commerce company providing companies with expertise and solutions for secure and reliable transacting in both the physical and virtual worlds. Through combining with Aconite's specialist consultancy and EMV and smart product software solutions, which by their very nature bring enhanced security for the payments world, Traderoot will be positioned to offer card issuers a one-stop-shop for all aspects of secure card issuance, management, transaction verification and payment processing.
Commenting on their new partnership, Patrick Regester, EVP Sales and Marketing at Aconite said "We have been working with Traderoot in the testing of joint solutions for the South African mass transit prepaid initiative. As a result of this process, we realised that through a broader based relationship, Aconite will be able to build on recent successes of deploying software solutions, training and consulting to major financial institutions in South Africa." Regester added "This announcement represents another example of our commitment to deliver the right solutions for our customers by joining forces with established regional partners such as Traderoot".
Mark Schech, Director of Financial Services at Traderoot added "Traderoot already offers powerful solutions to meet the challenges faced by businesses in the cards and payments market. This partnership puts us in an even stronger position to support issuers in sectors such as banking and transit looking to launch secure and profitable chip-based propositions, regardless of the form factor (card, mobile or token), and who want to ensure a maximum return on their investments."