News

eFunds signs IST/Switch clients in Latin America, Middle East

October 26, 2004

SCOTTSDALE, Ariz. - Tecnologia Bancaria S.A. (TecBan), an ATM and EFT network operator in Brazil, has selected eFunds Corporation's IST/Switch software to handle its anticipated growth in ATM and EFT transaction volumes.

According to a news release, the software is designed to process multi-card payment transactions from any device or network. It gives TecBan and other clients the ability to run payment software solutions in-house, on a wide range of platforms, while ensuring high levels of performance and availability.

TecBan currently serves 53 financial institutions throughout Brazil and acquires transactions from more than 84 million active bank cards.

"As the volume of transactions processed by our network has increased, we knew we needed to invest in a new switching and authorization solution that would allow us to improve processing performance and provide a flexible platform for bringing new services to our customers more quickly," said Carlos Wako, TecBan's IT director.

Bank Audi SAL, headquartered in Lebanon, also recently signed a contract to purchase eFunds' IST/Switch electronic payment processing software. The deal was concluded with the active support of Mideast Data Systems Lebanon (MDSL), eFunds' master distributor for the Middle East based in Lebanon.

IST/Switch will be deployed both in Lebanon and in the Bank's Jordanian branch network.

According to the release, eFunds' IST/Switch has been implemented at more than 150 customer sites in more than 70 countries.