Home News & events Press Releases 2018 iT2UG 2018 – synergy with Asian flavour

 

ITTUG logoiT2UG 2018 – synergy with Asian flavour

From March 28 to 31, the IX International TranzWare/TranzAxis User Group from Compass Plus was successfully held at the tropical seaside resort of Sanya, located in the most southern part of China – Hainan Island. The steady growth in the number of Compass Plus customers and partners in Asia Pacific, as well as the rapid development of the payments industry in Asia, were the key factors for choosing a venue for such a significant event for the company. In the format of panel discussions and presentations, iT²UG 2018 attendees – representatives of international and national payment networks, banks, processing companies, payment service aggregators, and experts in digital security and telecommunications – actively shared their experiences, discussed major payments industry trends, innovative payment services, gave case studies and discussed business ideas.

ITTUG quote 1The conference kicked off with a presentation from UnionPay International, in which Sergey Ershov, Technical Support Director, spoke about the development of the payments industry in China and UnionPay's achievements in contactless and mobile payments. Igor Volkov, Customer Delivery Director at Mastercard Europe, followed up the presentation, noting that the first payment card was issued in China in 1981 under the MasterCard brand; the Mastercard representative also outlined trends and the changing payments landscape, taking new disruptive players into account – start-ups and fintech companies. Maxim Zavgorodny, Director of Operations and Technology Department at NSPK, completed the series of presentations from payment networks with a discussion about the emergence, evolution and long-term development plans for the young Russian MIR payment system. He said: “I would like to note that Compass Plus is one of the most dynamic providers of processing solutions – a partner of the MIR payment system. Many of our innovative projects are quickly supported by Compass Plus, such as Mir Accept 2.0, a mobile payments platform, Samsung Pay and many others. Compass Plus has also quickly supported MIR contactless cards. It is great to see that Compass Plus products are utilised in many countries around the globe. The cooperation between Compass Plus and NSPK is promising and mutually beneficial and aims to promote Russian technologies abroad, e.g. accepting MIR cards in TPP networks or in banks utilising Compass Plus products.”

ITTUG quote 3Nikolay Stanchenko, Director of the Technology Development Directorate at MultiCarta – the largest processing company in Russia, spoke about TranzWare’s User Defined Payment Interface (UDPI) and various business cases for its use as a payment and authorisation host. UDPI is a universal integration tool, developed by Compass Plus for the rapid implementation of projects, which is especially crucial in the current payments landscape. Whilst Sergey Skripka, Head of Processing Center at one of the largest regional banks in Russia - Center-invest Bank, gave a presentation on partnering with universities to provide payment cards for students and teachers which can also be used as pass cards, library cards, and transport cards. Meanwhile, Compass Plus representatives spoke about new developments in TranzWare and TranzAxis products and their roadmaps, as well as the company’s credit card instalment plan product – which has been introduced in many customer banks and is based on an instalment module and financial schemes implemented in TranzWare.ITTUG quote 7

At the end of the first day of iT²UG 2018, the panel discussion “Advanced payment tools” was held with the following participants: Pavel Efremov – Chairman of the Board at Neyva Bank, Artem Kasabov – Vice-President of Moscow Credit Bank, Igor Volkov – Customer Delivery Director at Mastercard Europe, and Compass Plus representatives Mikhail Yurchenko – Associate Vice-President and Regional Business Development Director, as well as Andrey Chirkov – Temporary Acting CEO, who moderated the session. It covered a number of topics, including the use of various payment technologies (QR-code payments, mobile payments, cardless payments), blockchain technology and crypto-currencies as a payment method, as well as the new PSD2 and its impact on the retail banking business. The discussion on PSD2 was of particular interest to the audience, who came to the conclusion that the legal requirement for the banks to open up their APIs to external companies will not really help start-ups gain an advantage. It is more likely that IT giants (social media companies, smartphone manufacturers, etc.), who already have a large customer base and are interested in generating new lines of revenue and profit, will benefit. For example, there is a high probability that IT giants will look to partner with larger banks, not small and medium-sized banks.

OITTUG quote 5n the second day of the forum, customers shared their experiences of implementing projects and collaborating with Compass Plus. These included United Settlement System (USS) – a payment services aggregator consolidating ATMs, cash points and payment acceptance points of credit organisations, IT Consultants Limited – a leader in the processing services market in Bangladesh, Nabil Bank – the first private sector bank in Nepal, and Mutual Trust Bank – a a dynamically developing bank in Bangladesh. “Recently, our bank has migrated to Compass Plus solutions, and we are happy with our choice. We very much appreciate the assistance and support provided by Compass Plus,” said Mohammad Anwar Hossain, SVP & Head of Cards, Mutual Trust Bank.

Compass Plus partners took centre stage for the second half of the day. This year, the event was sponsored by Mastercard, UnionPay International, Mir payment systems, Ingenico, Gemalto, INPAS, FinStream, Delta Systems, Alioth, Infogram Telemedia, SMS Traffic, and MM Systems.

ITTUG quote 6The official part of the forum closed with a panel discussion on modern methods of project management. Having discussed various project management practices, the attendees came to the conclusion that the greatest effect can be obtained by combining the practices in different ways on a case by case basis – depending on the project features.

A gala dinner followed the forum, at which the traditional Compass Plus award ceremony took place – rewarding customers who have achieved particular success in projects with Compass Plus. iT²UG 2018 attendees also visited Nanshan – a modern eco-cultural tourism zone, the largest centre of Buddhism in Asia. The beautiful park is filled with tropical plants, which stretch to the shore of the South China Sea at the foot of the Nanshan Mountain. The Nanshan park highlights China’s diverse social customs – from Buddhism culture to Chinese folk customs – and houses both ancient objects, as well as modern statues. The tour was focused on the main attraction – the Guanyin of Nanshan, a sculpture of the three-faced goddess of mercy, which is considered one of the highest statues in the world.

Repeatedly noting the powerful synergistic effect of the event, participants of iT²UG 2018thought the forum was a great success. “This forum is a really fascinating event, giving us an opportunity to learn more about new initiatives and innovations in the card payment industry and helping participants expand their business network. As for the event venue, Sanya is great. It is not accidentally called the Chinese Hawaii,” said Binaya Kumar Regmi, Deputy General Manager, Nabil Bank.

 

Many thanks to our customers and partners! See you at our next event!

 

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