SIX Payment Services migrates bank card portfolios to new platform
SIX Payment Services has migrated card portfolios of all its banking customers to a new issuer processing platform.
The new generation processing services already benefits 34 financial institutions with a total of 100m transactions per year.
The platform has been designed to meet the needs of the banking customers on flexibility and ever shorter time-to-market as well as support the international growth strategies through its scalability.
With this platform, SIX can now process credit and debit cards, prepaid and virtual cards, access cards, gift cards, programs for corporate cards as well as combined products.
The new solution is an open architecture that provides unlimited possibilities to define creative card products. It features all product components like fees, processing logic, interfaces and don’t require additional IT development work.
Currently, over three million cards have migrated to the new issuing platform and transactions of all Luxemburgish banks, as well as the international customers of SIX in Germany, Belgium and Austria, are being processed through this new platform.
Luxembourgish bank BCEE was among the first banks to migrate its portfolio to SIX’s new issuing processing platform.
BCEE head of electronic banking and business Lysiane Back said: “SIX carried out initial internal testing in order to identify potential sources of failure as soon as possible. Both sides communicated transparently and effectively which meant the entire process was accompanied with extensive documentation and project planning.”