AccesBanque, a top bank in Madagascar, has partnered with Compass Plus Technologies for its card management and ATM acquiring businesses. The move was designed to provide diversified financial services to micro, small and medium enterprises (MSMEs) and drive financial inclusion among their families and employees. The project included the migration of all ATM acquiring services and debit card issuing services to Compass Plus Technologies, which was completed in under a year. AccesBanque plans to expand its business offering by launching a new credit card business, implementing point of sale (POS) acquiring services, and obtaining Visa certification with the support of Compass Plus Technologies. The move to Compass Plus Technologies is seen as a key step in delivering high-quality banking services to customers and will enable the bank to bring new products and services to market more quickly. The partnership is expected to drive positive change in the Madagascan payments market.
AccesBanque Selects Compass Plus Technologies for ATM Acquiring and Card Management
AccesBanque, a leading bank in Madagascar, is committed to driving financial inclusion among micro, small and medium enterprises (MSMEs), their families, and employees. To achieve this goal, AccesBanque decided to migrate its card management and ATM acquiring services to a more reliable and technically advanced processor.
Compass Plus Technologies emerged as the ideal solution for the bank, offering scalability and flexibility to meet the bank’s needs. The project involved the migration of all ATM acquiring services and Mastercard and UnionPay debit card issuing services, which Compass Plus Technologies completed in under a year.
Moving forward, AccesBanque intends to expand its services by launching a new credit card business, implementing point of sale (POS) acquiring services, and obtaining Visa certification with support from Compass Plus Technologies.
According to Alexey Osipov, EVP, MEA Managing Director at Compass Plus Technologies, “We are thrilled to be working with AccesBanque, one of the leading banks in Madagascar that is transforming the payments market in the country. Now that AccesBanque is utilising our state-of-the-art processing facility, it will be able to bring new products and services to market quicker than ever and will improve the banking experiences of local consumers. We look forward to strengthening our partnership and driving positive change in the Madagascan payments market.”
Mikhail Velichko, CEO at AccesBanque Madagascar, added, “The migration of our ATM acquiring and card management services to a market-leading processor is a key step towards delivering the highest quality services and experiences to our customers. The move has allowed us to further expand our business, as seen with the introduction of UnionPay cards and the launch of our credit card business. Throughout the project, we have found the Compass Plus Technologies team to be professional, reliable, and extremely knowledgeable, and we look forward to working together on future projects.”
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