Pakistan-based Waseela Microfinance Bank (WMBL) has deployed TPS’ IRIS Switch, a financial middleware for ATM, POS driving, debit cards, and IRIS PCMS, a prepaid card solution.
IRIS is a payment solution that will enable the bank for its Card Management System, ATM, POS and Ecommerce acquiring plans.
The technology vendor said that the bank’s customers hosted on Temenos24 – Core Banking solution would be able to avail proprietary as well as a payment scheme cards.
Simultaneously, the platform will also enable the bank to issue a companion card to its mobile wallet customers, which can be proprietary or payment scheme cards.
Customers can acquire the cards from the bank’s banks ATM/POS network as well as the shared ATM/POS network with national switch.
IRIS’ advanced features will also enable WMBL to accelerate the execution of its strategies, including upgrading the network to support virtual prepaid cards and its new mobile banking initiatives.
WMBL will also be able to achieve Interoperability between wallets and bank accounts with the entire banking network.
IRIS PCMS (Prepaid Card Management Solution) will enable the lender to launch branded or white labeled prepaid cards in the e-banking market domain.
WMBL CEO and president Ghazanfar Azaam: "Their solutions are reliable and their expertise commendable as a leading e-banking solution provider, smooth migration of our services from outsource to in-house model is self-explanatory. We look forward to many more ventures with them."
TPS CEO Shahzad Shahid: "We are excited to expand the digital financial services footprint of the largest mobile operator in Pakistan and help them hold the Pakistan flag high in the other countries that Vimpelcom group operates."