NexSmart and Welcome Partner

Wednesday 1 December 2004 22:38 CET | News

Welcome has signed an agreement with NexSmart Technologies to market Welcomes XLS enhanced payment software to banks who are upgrading their debit and ATM cards to chip. Through this Master Reseller agreement, NexSmart will provide Welcomes XLS software to banks and financial institutions migrating to the FISC2 (Financial Information Services Co) standard in Taiwan.

Debit and ATM cards enhanced with XLS provide incentives that encourage customers to use their cards to pay, not just to withdraw cash from ATMs. NexSmart currently supplies more than 70 percent of the FISC2 market share. There is a total base of approximately 60 million ATM cards in Taiwan. These cards are currently being converted from magstripe to chip. The intent of NexSmart is to incorporate XLS into all cards sold to their customers. Welcomes flagship product, XLS, was recently awarded ROI of the Year by The Banker, an FT Business Publication, for its ability to deliver substantial return-on-investment to banks. The award makes XLS the first payment application to win formal recognition for its role in reducing costs and increasing revenues. XLS surrounds the basic payment application in the POS terminal and enhances it with revenue boosting services such as instantly awarded loyalty points, coupons, surprise gifts and cash back.

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Categories: Payments & Commerce | Cards
Countries: World
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