Advanced Payment Solutions at BankExpo 2019

ASHBURN International ant BS/2 representatives took an active part in the bank services exhibition BankExpo 2019. The significant event organized by the Association of Banks of Uzbekistan became a large-scale platform for discussing the prospects for the financial sector development and demonstrating innovative banking solutions.

The business sector, international companies, economic experts and banks representatives were the main audience of BankExpo 2019. The guests had a unique opportunity to get acquainted with reforms carried out in the Uzbekistan banking and financial system, as well as with modern technologies and services offered by solution providers.

The largest region banks representatives, as well as the Uzbekistan Banking Association Chairperson Bakhtiyar Khamidov visited the common BS/2 and ASHBURN International (Penki Kontinentai Group) exhibition booth. He noted the importance of introducing innovations in the financial infrastructure and great impact on the service provision quality.

At the exhibition, ASHBURN International representatives demonstrated the company’s latest developments in payment technologies and the integration capabilities of the solution TransLink.iQ, which helps banks and processing centers manage and monitor the EFTPOS terminal networks.
“We keep abreast of the ongoing reforms and changes in Uzbekistan. The national fiscal project is a major breakthrough in the country’s tax administration system. We demonstrated to the guests an additional TransLink.iQ module, due to which all the payment connected terminals become fiscal,” said ASHBURN International Executive Director Žoržas Šarafanovičius.

The developed software allows the EFTPOS terminal to become an analogue of the fiscal cashbox and register the sale of goods and services in cash or using a payment card. The seller needs to enter the excise group and VAT, goods quantity, select the type of payment and print a receipt with a QR code for the tax inspector. Thus, managing a large-scale infrastructure no longer requires additional staff or administrative resources.

“The main advantage of TransLink.iQ is its multihosting and multivendor functionality. Our solution allows accepting payment by traditional and contactless cards of local and international payment systems, and recognizes loyalty cards. It is compatible with EFTPOS terminal models of major international manufacturers (Ingenico, Verifone, PAX). It will work on existing terminals and on the newest platforms Telium Tetra (Ingenico), Engage (Verifone), Prolin (PAX),” said the ASHBURN International representative.

The TransLink.iQ solution proves value in terms of security as well. The PA-DSS (Payment Application Data Security Standard) certificates confirm that all modules of the software solution providing storage, processing and transmission of cardholder data at the stage of authorization and transaction conforms to high international security standards.

“In addition to the fiscal module, we demonstrated integrated cash solutions that are relevant for large retailers who want to automate and speed up the payment process. In other countries, such technical innovations already occupy more than 60 percent of the market, and we see that Uzbekistan is ready for their successful introduction,” said Žoržas Šarafanovičius.

Three days of BankExpo were full of relevant reports, interesting discussions and presentations, as well as interactive bank programs to attract customers.

A conference with the participation of the European Bank for Reconstruction and Development, the Asian Development Bank, the Islamic Development Bank in Uzbekistan, experts from the International Finance Corporation was held during the national exhibition. It was attended by over 1,500 representatives of commercial and state banks of Uzbekistan, insurance, leasing, investment and international IT companies. At the closing ceremony, representatives of the Association of Banks of Uzbekistan awarded all participants of BankExpo 2019.