Under the terms of the deal, SIX Payment Services will handle the switching of the Bancontact/Mister Cash transactions. The agreement also covers software development and processing services over several years. The core requirements include switching, clearing and settlement services. The project will be completed in several phases and SIX will re-use as many of the existing components as possible for building the new Bancontact/Mister Cash scheme switch. The new switch infrastructure will become available on mid-2013.
In 2011 more than one billion transactions have been processed under the Bancontact Mister Cash scheme, originating from more than 150,000 points of acceptance (POS, ATM, e-commerce). SIX Payment Services provides financial institutions and merchants with customised services including national and international card transactions and interbank payments.
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