19 October 2017
Find out more

Central Bank of Oman chooses ACI Base24-eps

17 May 2010  |  2257 views  |  0 Source: ACI Worldwide

ACI Worldwide (Nasdaq: ACIW), leading international provider of electronic payments software and solutions, today announced that Central Bank of Oman (CBO) has selected Base24-eps as the foundation for the new national switch in Oman.

BASE24-eps is ACI's market-leading software for online payments processing.

The CBO has also selected ACI Simulation Services for Enterprise TestingTM (ASSET) which will be used by the bank internally for testing, as well as by the national switch member banks for the certification process with CBO. BASE24-eps will be the retail payments engine for the debit processing platform, providing intelligent transaction authentication, authorisation and routing capabilities.

The project involves consolidating the previous two independent switches into one central solution under the ownership of the Central Bank, and migrating all financial institutions onto the common platform. It will be processing volumes of approximately 5 million ATM and POS transactions per month. The new system will be able to handle EMV transactions, and the project includes a national roll-out of EMV technology for all financial institutions in Oman.

A senior official from CBO said, "This is a significant investment in the infrastructure of Oman, and we wanted to invest in the best technologies in the market to deliver a future-proof system. It needed to provide multi-currency and multi-institution support, as well as the essential real-time message switching for authorization and international network connections. The state of the art BASE24-eps has shown it is capable of supporting the very largest systems, and was the obvious choice for a project of this importance."

Ralph Dangelmaier, president, global markets and services at ACI Worldwide said, "The Central Bank of Oman outlined its plans for a national payment system in 2003, and this final project is the culmination of that work. The CBO recognises the vital role technology can play, and the agility, reliability and scalability of BASE24-eps will help the bank deliver the solution it needs to the entire country."

ACI will be delivering the project, with support from HP, the prime contractor for the services, along with Industrial Management Technology and Contracting (IMTAC) LLC as a local partner.

Comments: (0)

Comment on this story (membership required)

Related company news


Related company information

ACI Worldwide

Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comvisit www.vasco.comRegister now

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15730 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8902 views comments | 16 tweets | 22 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7988 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7101 views comments | 9 tweets | 17 linkedin
Santander InnoVentures leads $6m funding round for Mexico's ePesosSantander InnoVentures leads $6m funding r...
6241 views comments | 6 tweets | 3 linkedin

Featured job

London, UK (or flexible)

Find your next job