PT. Collega and ElectraCard Services Enter into 10 Year Multi-Million Dollar Payment Technology Modernization Agreement

ElectraCard Services (ECS) announced a 10-year, multi-million dollar agreement with PT. Collega Inti Pratama (Collega), a leading banking technology services provider in Indonesia. PT. Collega has selected ECS to replace their legacy payment processing systems with ECS' PA-DSS compliant electra solution suite.

PT. Collega offers ATM driving, inter-bank and network switching and card processing services for banks across Indonesia. Collega has initiated its technology modernization effort to facilitate an advanced services offering to its member banks. The ECS platform will help PT. Collega scale to drive 5000 ATMs and process 10 million cards for 20+ banks and enable Collega to provide Value Added Services including remittances, bill payments, mobile top-ups, ticket bookings, Haj payments and teller initiated payment transactions. PT. Collega also plans to launch new services like contactless payments, e-commerce and m-commerce acquiring, Islamic and conventional credit cards, financial inclusion and loyalty solutions.

The electra iTx series is a next generation SOA based transaction processing platform that includes a configurable message transformation engine which facilitates integration with external systems using online messages, offline extracts and configurable services.

Mr. Afrizel Aziz, President Director, PT Collega said, "Given our ambitious growth plans, we wanted to upgrade our payments infrastructure to a more scalable and robust platform. As such, we wanted a stable solutions partner with a strong track record in proven reliability, ease of integration and volume scalability. ECS's impressive solution stack with a very high demonstrated performance benchmark, their singular focus on the payments domain and a long-term vision made them the ideal choice for this partnership."

Mr. Ramesh Mengawade, CEO, ElectraCard Services said, "Indonesia is a mature and extremely competitive payments market. We are confident that the electra suite will enable PT Collega to introduce innovative, market-leading solutions at competitive price points to further increase its market share."

Source : Equity Bulls

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