BPC offers card processing solution to prevent fraud

BPC offers card processing solution to prevent fraud

The Jakarta Post, Jakarta

Banking Production Center (BPC), a Moscow-based private firm
providing electronic payments and e-business solutions, is now in
Indonesia to offer its integrated card processing solutions that
can help in reducing credit card fraud.

BPC already holds some 35 percent of the market in Eastern
Europe, and is now targeting Indonesia's main banks. The center
is currently seeking to complete a bidding process with Bank
Lippo, one of the top 10 banks in the country.

"We are also looking to put forward bids to Bank Rakyat
Indonesia (BRI) and Bank Permata," BPC country representative
Arief Kusuma said on Tuesday.

He explained that a major bank such as Bank Lippo would
require between US$2 million and $2.5 million to implement the
SmartVista system his company offered.

"We are offering our easy-to-integrate SmartVista card
processing system with more secure smart cards and e-payments,"
he said.

A SmartVista card has a built-in chip that contains the
customer's data, thus enhancing its security. Should BPC win the
bid with the banks, its SmartVista card will replace the well-
known magnetic cards now used for credit cards and ATM (automatic
teller machine) cards.

Arief said the smart card system already complied with
Europaid Master Visa (EMV), a European agreement on card
payments.

"By implementing an EMV compliant system, banks will enable
their credit card customers to make transactions in countries
that have already applied such a system," he said.

The EMV system has been applied in countries including the
Philippines and Singapore, and is also being developed in
Australia.

Arief said that SmartVista would suit small businesses as it
is offered with modules that can be customized according to the
banks requirements.

"For small or medium businesses or small banks, we recommend
outsourcing at the cost of $1,200 for each branch office or 15
U.S. cents per transaction," he added.