As a result, RBI will be able to upgrade the issuing and acquiring services offered by its European processing centre to banks in the Raiffeisen network.
OpenWay’s WAY4 system targets banks, processing companies and telecom operators, allowing them to create card and account-based debit and credit products and loyalty programs, manage ATMs, PoS terminals, kiosks, as well as web, mobile and other delivery channels.
Over the next five years, the number of cards to be handled by the new WAY4 system is expected to reach 2.5 million, made up of 60 different types across 17 countries, and transaction volumes are expected to reach 250 million.
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