Proxama PLC (AIM: PROX), an international provider of digital payment solutions for card issuing banks and processors, is proud to announce that Tutuka, a leading prepaid card processor in the Middle East, Asia and Africa, has commenced implementation of Proxama’s Digital Enablement Platform (DEP) to provide a fully independent cloud-based payment (CBP) solution.
After considering options for an outsourced scheme-based solution, Tutuka selected Proxama for ease of implementation and the benefits of flexibility and control provided by having an in-house solution.
Proxama will provide a full end-to-end solution for both MasterCard and Visa CBP specifications, including Payment Application/Account Management, Credential Management and EMV transaction processing. The platform is based on Proxama’s award-winning EMV products that are managing the issuance and processing of hundreds of millions of EMV cards around the world, and has been optimised for simple integration, with minimal disruption to existing issuer back-office systems. In-house tokenisation will be introduced as a second phase.
“Proxama are immensely pleased to be working with Tutuka to bring another innovative payment solution to the market.” said Rob Macmillan, VP Marketing at Proxama’s Digital Payments Division. “Banks and issuers around the world are coming to realise that many mobile payment models come with constraints on choice for the issuer and the consumer. Proxama’s DEP puts issuers back in control and allows them to provide a unique and personal consumer experience.”
Shaun Hodgkiss, CTO of Tutuka added: “We selected Proxama to provide our cloud-based payment solution based on our experience of their EMV solutions and track record of innovation. Proxama are providing a technically advanced solution with the added assurance of being based on proven EMV components. We look forward to a strong collaboration partnership with Proxama and the bringing new payment solutions to market.”