STRATEGIC PARTNERS
The company says it can now connect directly to VisaNet and provide issuer and acquirer card processing services to VISA clients including FIs, merchants and others worldwide.
February 10, 2016
India-based Quatrro Processing Services has been approved by Visa Inc. as a global VisaNet third-party processor, effective April 1, according to a press release.
QPS specializes in card management systems with an integrated switch that supports issuing, acquiring, mobile POS, ATM driving and payment gateways using one platform and interface.
The Visa certification will allow QPS to connect directly to VisaNet and provide issuer and acquirer card processing services to Visa clients including FIs, merchants and others worldwide, the company said.
Quatrro SVP Rajesh Dhuddu, said confirmation comes at an opportune time for the Indian provider.
"[T]he payments landscape in India is being redefined with the entry of new banks, payment banks and small finance banks," he said. "These new financial institutions and existing ones too are actively looking for innovative business models to introduce new products and services, accelerate their time to market and reduce overall total cost of ownership of banking technologies and processing capabilities."
T. R. Ramachandran, Visa group country manager for India and South Asia, said that third-party payment processors are gaining greater importance within the payments ecosystem, "helping banks and issuers with a wide array of transaction processing services and providing speed and agility to their processing capabilities."
