IT solution provider CTC Global Sdn Bhd (CTC Malaysia) has announced its partnership with Cardzone Sdn Bhd to jointly market Cardzone’s payment solution to Malaysian financial institutions and enterprises.
With the partnership, CTC Malaysia is expanding its IT infrastructure solutions and services portfolio to now include financial payment software offerings.
“Our partnership with Cardzone comes at the right time when companies are in the midst of undergoing digital transformation. Cardzone’s payment solution – hosted on CTC’s CUVIC Cloud (on/off premise) – will help financial institutions and enterprise customers in Malaysia and regionally, move to the cloud in a way that makes sense for their business,” said Dennis Koh, Managing Director, CTC Global Sdn Bhd.
Danny Lo, Chief Executive Officer Cardzone Sdn Bhd, added, “The era of digital transformation has radically impacted the way businesses view technology. One of the biggest challenges our customers face is an affordable TCO (Total Cost of Ownership). The feedback that we have been getting is that they want a complete payment outsourcing service that includes a payment application solution as well as secured IT infrastructure and IT management services – all at a cost-efficient price. For these customers, our joint offering addresses these issues head on.”
For companies running legacy systems in the digital age of mobile apps and social media, operating and maintaining these systems are increasingly costly. These challenges can be addressed with Cardzone’s comprehensive payment suite which includes multi-channel financial switching for acquiring of transactions from all channels like ATM, POS, e-Commerce and m-Commerce (including credit/debit cards, Internet, e-wallets QR code), and others. The payment solution employs state-of-art technologies such as cloud, big data analytics and machine learning to provide a rich set of functionalities to customers.
CTC Malaysia’s CUVIC Cloud platform simplifies the customer cloud experience – allowing a secure environment in which businesses can be flexible, agile, and control and automate operations. Cardzone has developed and tested its payment solutions on CUVIC Cloud, successfully showcasing high compute performance levels equivalent – or better – than high-end systems, achieving an impressive 400 authorization transactions per second for 10 million accounts.
Currently, both companies are working together to introduce third-party payment processing (TPP) so that Cardzone’s payment solution on CTC’s CUVIC Cloud (On Prem) is highly secured and Payment Card Industry Data Security Standard (PCI-DSS) certified, to customers in Malaysia and across the region. For smaller banks and other financial service providers, instead of investing in capital-intensive IT Infrastructure for payment processing, this TPP service delivers the cost benefits of “Software as a Service” to them.