Euronet Selected to Provide ATM/POS Switch for Four Suriname Banks

Tuesday 22 June 2004 21:26 CET | News

Euronet has signed a software agreement to create a national switch in Suriname, enabling four of the largest banks of the country to share ATMs and POS devices.

The four banks--DE SURINAAMSCHE BANK N.V. (DSB BANK); HAKRINBANK N.V.; RBTT BANK (SURINAME) N.V.; and SURINAAMSE POSTSPAARBANK--are partnering to start the BANKING NETWORK SURINAME N.V. (BNETS). Euronet will facilitate the switching of inter-bank ATM and POS transactions from the banks existing devices. Two of the banks, DSB BANK and HAKRINBANK, are currently Euronet software customers. Euronets comprehensive network switching solution is designed for institutions with ATM and/or POS networks that offer network services. The solution allows institutions to provide clients with EFT services through network sharing arrangements and national and international interchange networks. Through modular expansion, Euronets solution includes a complete ATM and POS processing system where the network drives the devices as well as switches transactions. The switch connections to the EFT networks are provided via Euronets core technology, Integrated Transaction Management (ITM) software to the local EFT network processor. The national switch is the first of its kind in Suriname and will allow the four banks to establish a shared network to offer customers added convenience with its transactions. It is the second national switch in just one month to be built on Euronet software. Euronet recently announced a similar project in India.

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