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.