Penki Kontinentai Group news

Azerbaijani Bank Interested in Non-Standard POS Terminal Usage

This February, representatives of the Azerbaijani Pasha Bank (PASHA) visited the Penki kontinentai group of companies, where they were acquainted with non-standard payment terminal solutions. That was a return visit as the Lithuanian delegation had already met with Pasha Bank managers in Azerbaijan last November.

Currently, four state and 70 private banks operate in Azerbaijan. Founded in 2007, Pasha Bank is the main corporate bank in Azerbaijan. It has one of the best reliability indicators in the country.

The PASHA representatives, including Banking Systems Development Director Fuad Aslanov, Acting Head of Cash Management Tural Nabizade, Head of Retail Marketing Anar Suleymanov, and Plastic Card Processing System Administrator Juris Lacis – got acquainted with bank solutions developed by Penki kontinentai bankines technologijos (aka BS/2) and ASHBURN International (ASHBURN), which successfully operate in Lithuania and abroad.

Most of all, the guests were interested in BS/2 solutions for POS terminals. According to the official Bank of Azerbaijan data, as of 1 December 2016, out of 73,175 POS terminals in the country, 40,543 were placed in Baku and 32,632 in other regions. Since almost all (98.8%) of all POS terminals are placed at retail enterprises, TransLink.iQ management solution and the possibility of its adaptation to specific needs was of immense interest.

According to ASHBURN Chief Executive Zorzas Sarafinovicius, the PASHA management has good ideas about their country’s banking services progress; that is why they search for non-standard solutions. “TransLink.iQ is designed so that the client always can remotely manage and control his PoS-terminals. We‘ve significantly improved the solution, so now TransLink.iQ is far more competitive than other analogs – and it can be easily adapted to the most advanced payment solutions, for different needs to speed up and facilitate the work of staff – and save customers’ time”, ASHBURN’s Sarafinovicius says.

The PASHA-owned financial group includes banks and hotels, and restaurants; that is why the guests were interested in using POS terminals in various areas in a non-standard way. This allows integrating the services provided by the entire group – and receiving additional profit. For example, you can pay for services provided in this or that place and for utilities, transport, etc.

Thanks to its own processing center suitable for all payment card systems now used in Azerbaijan, PASHA has a strategic opportunity to accept, distribute, and transfer payment cards and other non-financial transactions. TransLink.iQ software is certified and compatible with the PASHA processing center system, helping the bank perform the cash flow distribution functions.

ASHBURN has made an offer to PASHA, which will help increase the integrity of payment services, ease of use, and consumer confidence in the national banking system as a whole.

Both ASHBURN and BS/2 belong to the Penki Kontinentai group of companies. ASHBURN specializes in software solutions for payment cards, electronic card readers, and loyalty systems. At the same time, BS/2 is engaged in banking and retail equipment supplies, specialized banking software, system integration, and technical support in more than 70 countries worldwide.

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