News

State Bank of India subsidiary to adopt Euronet ATM/switch system

The project will help SBI to successfully pursue a goal of increasing its retail banking presence in Indonesia, Euronet says.

October 29, 2015

Euronet Software Solutions, a division of electronic payments provider Euronet Worldwide Inc., is working with PT State Bank of India, Indonesia SBII to replace the FI's ATM/switch system with Euronet's Integrated Transaction Management payment hub.

The project is part of SBII's strategy to increase its retail banking presence in Indonesia, according to a press release.

In tandem with the switch replacement, SBII will begin implementation of the National Standard Indonesia Chip Card Specification.

NCICCS certification will allow SBII to issue chip-enabled debit cards to its cardholders, and to acquire NSICCS capable cards at the bank's ATMs.

Euronet's Indonesian partner, PT Sigma Cipta Caraka is managing the NSICCS certification process, as well as certifications with the local PRIMA and ALTO networks.

"As an NSICCS-certified financial institution, and with ITM as their transaction hub, SBII [can offer] customers ... the added convenience of enhanced services along with the security that comes with chip cards," Cindy Ashcraft, VP of Euronet Worldwide and managing director for Euronet Software Solutions, said in a statement.