Mondex Venezuela Rolls Out Infrastructure
Several Latin banks, including Banco Mercantil, Banco Universal, Banco Union, Banesco and InterBank, as members of Mondex Venezuela, are to use an ACI solution for the handling of Mondex services. In "the first step" of establishing Mondex in Venezuela, the new system will handle Mondex cards through ATM and POS channels, while facilitating Internet-based Mondex value transfers and customer service. The role of ACI is to implement the back office and card management functions within this infrastructure.ACI is to upgrade the BASE24 processing systems of Mondex Venezuela member banks to facilitate the handling of Mondex value transfer. By this means, the five banks will be able to leverage a joint operation for the trading of electronic Mondex value via their existing channels. The consortium can accordingly manage the entire lifecycle of multiple applications on MULTOS chips, a valuable attribute given the role of new chip card functions in eCommerce and digital identification.
Tim Stewart, EVP of the US-based, Mondex International, confirmed Mondex Venezuela to be working towards the facilitation of Mondex e-cash on the new infrastructure. As a result, the embedded security of Mondex will enable cardholders in Venezuela to conduct purchases both on- and offline, including micropayments, without the risk of losing their account information. Related Links
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