StanChart Pakistan implements Euronet payments platform
Standard Chartered Bank has implemented Euronet's state-of-the-art payments platform that would not only drive its extensive card management program, but also countrywide ATMs and CDMs.
This system will be the core processor in managing straight-through processing of transactions and customer onboarding for its revolutionary customercentric digital program.
The solution incorporates the driving of issuance and acquiring programs for all payment schemes, along with integration with the Fraud and AML monitoring systems.
The implementation is being done keeping in view the latest security standards with dynamic key management, enhanced e-commerce transaction security checks, multi-factor authentication and TLS 1.2, which is spread across all internal Standard Chartered systems and International Payment Scheme Gateways, and is a first for VISA and MasterCard in Pakistan.
This consolidation will also result in Standard Chartered becoming the first entity in Pakistan to accept and process DCC transactions on its ATMs.
Euronet's CEO, Mr. Kashif Gaya, stated on the occasion, "We are very pleased to partner with Standard Chartered Pakistan as a valued customer. Pakistan is the 12th Standard Chartered country that has migrated on to the Euronet platform.
We strongly believe that this strategic partnership with Standard Chartered across the globe is a testament to our vision and depth in our broad product set with a guaranteed uptime and processing efficiency for multi-dimensional financial institutions.
The digital innovation that we would continue to do for Standard Chartered in Pakistan affirms our market position and with a rich history of innovation, diversified product set, coupled with our internationally benchmarked secure infrastructure setup, we are well positioned to continue driving payments inclusion in Pakistan."