Oasis Technology Ltd., a supplier of payment technologies to major banks and card associations, said it has won a large development contract from Credicard and Redecard of Brazil.
The two strategically aligned companies have used Oasis' IST/Switch system since 1994 in a card-acceptance network now exceeding 123,000 point of sale terminals and 25,000 electronic cash registers.
A second IST/Switch is to be installed this month as the transaction processing companies prepare for several new electronic payment services. Oasis said the system will eventually support on-line card transactions, batch files of card-not-present transactions, and paper drafts, as well as certain voucher programs, checks, and health management services.
The processors are getting free of mainframe computing restrictions with "a fully scalable payment infrastructure optimized for higher volumes of POS transactions and the rollout of future e-payment services," said Redecard chief of technology Sergio Murtinho.
"Credicard and Redecard have proven that scalable, flexible payment systems on open platforms is the ideal way to accommodate rapidly growing transaction volumes," said Jorge Noguera, Oasis senior vice president for Latin America and the Caribbean.