Alfa Bank has leveraged on an existing partnership with telecom provider, Beeline, to create the first ever m-card product in Russia. The card is linked to the balance of a Beeline's customer's mobile telephone account and has allowed a majority of young Beeline subscribers, who lack a bank account to make non-cash purchases.
"According to representatives at VISA, this m-card would be the first of its kind in the world. We saw it as an opportunity to solve an unfulfilled need amongst our subscribers." Said Victor Markelov, Products Director for Beeline.
Electronic purchasing is still in its infancy in Russia and the new m-card will advance the concept of consumer e-payments while helping Alfa-Bank grow its customer base. Because Alfa-Bank had installed SmartVista nine years prior, the end-to-end e-payments system was used to create the new card product. According to Mikhail Fridman, Chairman of the Supervisory Board and principal founder of the Alfa Group Consortium, "We are leveraging our investment in SmartVista to bring online payment services to millions of people in Russia who are not currently served by any card product."
Some highlighted SmartVista features include:
â€¢ Efficient management of customer relationship
â€¢ Elimination of multiple data entry points, additional manual entry and streamlining of the card production process
â€¢ Easy assembly of product parameters
â€¢ Ease of building a custom solution
SmartVista is just one of the products that BPC Banking Technologies will be showcasing as an exhibitor at our upcoming Cards & Payments Asia 2013 expo taking place in Singapore from 24 – 25 April 2013. They will also be speaking at an on-floor seminar at the expo on "Payment services in transformation – A call to action". If you are interested to attend this free seminar, you can sign up for it here.