Tieto delivers Person-to-Person transaction solution to OTP Bank
Tieto has provided a Card Suite solution allowing OTP Bank to offer their customers on-us Person-to-Person (P2P) payments as well as utility payments functionality, which was significantly improved during the project. Some of the benefits of the implemented solutions are faster transactions, improved access and lower service costs for the cardholders.
OTP Bank and Tieto have a long-term experience of working together and implementing a range of different innovative solutions. The latest project is a result of OTP Bank's business goal to implement a more effective and secure internet bank payment solution. The Card Suite solution offers a more secure authorization and processing of internet bank payments. Moreover, the solution has been flexibly integrated with two external systems. All internet bank payments are now momentarily authorized in an external system, which decreases the risks of overdraft. The project's success lies in such details as both parties' specialists' professional qualities and high operational effectiveness.
Card Suite Person to Person Transfer Service solution allows transferring funds from one card to another using various channels like ATM, in-branch POS terminal, mobile bank, internet bank, info-kiosk and others. This service can be deployed for on-us and domestic operations as well as for international money transfers and it supports Visa International and MasterCard Worldwide requirements.
The solution provides tangible benefits for both, service providers and cardholders. First of all, a transfer takes mere seconds, for senders and receivers, and can be performed at any ATM anywhere in the country. Since the service can also be accessed through internet or a mobile bank, clients can transfer money without leaving the house or office. For cardholders, the service cost is much lower than using common transfer services and therefore is more beneficial. Similarly to standard purchase transactions, the security level is continuously improved along with the card industry standards.