Challenges
The demand for electronic payment methods is greater now than ever before. In order to meet this demand, banks and processors require a cost-effective solution that offers the flexibility to support a wide variety of payment options, is compatible with multiple devices, can dynamically handle currency conversions and more.
Our Client seeks a proven solution with advanced technology that can provide front-end switch to their offshore card issuing system (since been moved onshore). The switch will have to support purchases both in person and online and support cards schemes such as Visa and Mastercard. The implementation window is tight with the aim of minimal downtime such that the Client will not miss any revenue opportunities from their customers. The system must also meet the unique Thai standards and able to cater for the target ambitious growth rates.
Our Solution
Stream implemented the POS Switch solution in 2002. We integrate the POS Switch with the Client’s offshore Card Issuing system and assist the Client to plan for a smooth transition.
For EDC channels, we have to integrate with 4 major acquirer networks (2 banks, 1 processor and 1 EDC network), and handle extensive testing across all terminal brands and software versions. In addition, we support Cash Advance through a partner bank’s ATM switch and support online transactions from an eCommerce marketplace. We successfully integrate with both the Visa and Mastercard schemes.
We pioneered the buy now pay later product launched for the first time in Thailand by our Client.
The solution must meet the high availability and business continuity criteria, and also meet with the PCI DSS security standards.
Key Achievements
We have successfully launched the POS Switching for Card Issuer for this Client and supported their tremendous over 20-fold growth to the present day. We are proud to see the cards issued by our Client becoming very popular among the Thai consumers.
We continue to provide ongoing consulting, implementation, and support through the next phases for their growth and are proud to be a part of their success.
