New solutions allow for virtual credit cards and other services integrated over different existing platforms
Singapore, 05 July 2000 - Expect banks in Singapore to start offering new services, faster, and with more features.
Singapore IT service provider NCS has teamed up with Oasis Technology to provide comprehensive e-payment solutions to clients through Asia, using a platform to drive both virtual and real-world payment channels.
The Oasis solution includes a front- and back- office ePayment suite designed for processing and managing Internet and real-life payments from major delivery channels. Features include the handling of multi-currency transactions, cross-border clearing, and settlement solutions.
The solution also provides functionality that aims to meet the needs of business across the payment chain: issuing banks, acquiring banks, Internet and real-world merchantes, third-party processors and payment gateways.
"Oasis and NCS recognize the diversification of business needs in today's market," said Ashraf Dimitri, president and CEO of Oasis Technology. "As e-commerce continues to accelerate, businesses will need a comprehensive solution that integrates e-payment processing for m-commerce, Internet and real-world delivery channels."
The solutions platform is based on an open, component-based architecture that allows for the clients to create customized, flexible solutions, said Dimitri. The solution from Oasis will run on 33 different platforms.
NCS is the distributing partner for Oasis in the region, and will aid in identifying the market focus of the financial industry in Asia.
The banking industry is going through a transition to divest itself of non-core banking services, said Dimitri, pointing out that banks would have to acquire new technologies to remain competitive.
Dimitri says that Oasis has been delivering secure payment infrastructures for about 10 years, and helped process 4 billion transactions last year alone.
Oasis solutions allow for verticles to be linked in one platform, with an affordable operational cost, he said.
Technology changes quickly, said Oon Tik Lee, general manager for NCS, and infrastructures must be able to embrace new technologies.
Oasis provides technology to enable:
Internet and real-world payment processing via major delivery channels
Multi-currency, cross-border clearing and settlement
Full-function merchant account management for Internet and brick-and-mortar merchants
Virtual and real-world card issuing and settlement
Next-generation smart card Internet banking
Integration of traditional and Internet payment delivery channels
Capturing one-to-one marketing information for target marketing
About Oasis Technology
Oasis Technology's customers in the region include First Econ.com, ABN-Amro in Singpore, Taiwan, Indonesia , and Hong Kong, Agricultural Bank of China, Beijing Golden Card, China Construction Bank, Xiamen Golden Card, and Bancnet.
It currently delivers m-commerce, Internet and real-world e-payment software products to Internet and traditional banks and businesses in more than 70 countries.
About National Computing Systems
NCS is a wholly owned subsidiary of Singapore Telecom Group, and is an IT service provider and enabler in the region. NCS has clients in both the private and public sectors of Singapore and the region and aims to provide services and solutions to clients in industries that NCS has already targetted.
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