GZS Adds Currency Conversion and ATM operator model

Tuesday 1 February 2005 18:02 CET | News

With the launch of dynamic currency conversion and a new ATM operator model, GZS Gesellschaft fÜr Zahlungssysteme mbH has used the start of 2005 as an opportunity to further improve its customers success and the efficiency of its acquiring platform.

The dynamic currency conversion function is aimed particularly at acquirers whose contractual partners are active in any market sector and frequented regularly by non euro-zone cardholders. The new function allows such merchants to offer their customers payment conversion and processing in their local currencies with immediate effect. GZS will initially support conversion into US dollars, pounds sterling, Swiss francs, Danish krones, Swedish kronas and Japanese yen. The original transaction amount will continue to be settled with the contractual partner in the agreed settlement currency. A newly developed ATM operator model also allows acquirers to offer ATM operators an alternative business model which differs from the prevailing institutional remuneration model. In this way, institutions which operate ATMs can participate far more quickly and directly in the card organisations fee and earning structures. This model is particularly suited to large ATM operators which have an appropriately high transaction volume and can profit from economies of scale. The acquirer, ConCardis GmbH, is already well prepared for using these value-added functions. GZSs simultaneous and timely implementation of these functions – which are crucial both for our company and our customers – helps us enormously to fulfil our customers needs and further consolidate our position in this hotly contested market segment, emphasises Bodo Becker, ConCardis GmbH project manager. Already in 2003, in response to unremitting market pressure, GZS fully overhauled its acquiring processing platform and renewed almost all its card business systems. Based on an integrated technical solution, it enables processing at an international level while combining the benefits of economies of scale and the flexible implementation of new requirements.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce