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Equity Bank’s Credit Card Processing Upgrade.

Largest bank by customer base gains capacity to handle 180,000 transactions per minute.

Nairobi, KENYA, 21 January, 2010

Equity Bank has fully migrated to the Card Management System from OpenWay Group of Belgium. The Way 4 System which is an online Card Management system is designed for multi-institution and multi-currency transaction processing, and has the ability to handle over 60 million cards with speed performance of 180,000 transactions per minute.

The system which received the highest possible rating by Gartner – the top organization for rating software in the world- also provides support for non-card based transactions over multiple self service channels, and also transacts different currencies.

Already in operation, the new system will increase efficiency and eliminate the amount of time it takes to transact business in all Equity Bank Point of Sales outlets and ATMs in the region.

Speaking during the signing of the partnership between OpenWay Group and Equity Bank, Dr. James Mwangi said the system has capacity to host the combined network of Equity Bank branches, subsidiaries and other banks at reduced costs occasioned by the automated workflows provided by the Group.

‘The new system not only gives Equity Bank a niche in terms of competitiveness in cutting edge technology and card management, but allows speedy and efficient transaction process in real time, and for all currencies,’ Dr Mwangi said.

Dr Mwangi said  the new migration had positioned Equity as the first banking  institution in the region capable of handling regional inter switching connectivity with ease, noting that the cost reduction and increased volume of channel transactions  would translate  into higher profit margins.

He said the new switch system would come in handy with the recently launched partnership between Equity Bank and Safaricom which will allow M-Pesa account holders to withdraw money from the banks 550 Automated Teller Machines countrywide.

Incidents of fraud in card transactions in the country would also be reduced drastically with the implementation of the EMV ( Eurocard, Mastercard, VISA) cards, Dr Mwangi said.

OpenWay Managing Director Wim Pardon said the robust Way 4 switching and back office system has also enabled Equity Bank seamlessly roll out in the region. The system has a built in online monitoring capability and has been used for issuing debit and credit cards.

Mr Pardon who was accompanied by the Account Relationship Manager Georges Michel said that Way 4 is looking at this partnership as an ideal opportunity into the African Market.

The system is equipped with a card association readiness for Visa, Mastercard, JCB , CUP among others. This means all other banks’ VISA cards can now be used on Equity Bank Point of Sale terminals in leading supermarkets and other retail outlets countrywide.

The investment was prompted by need for a regional switching system for the bank and the challenge of coupling system stability with higher capacity and faster transaction speeds.

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7 Comments

  1. Brian
    January 27, 2010 at 5:46 pm — Reply

    Find my Equity Visa card the only one capable of making (quick & small) online payments. I guess this will make it even better/faster/etc

  2. Isaac Kanyarah
    February 10, 2010 at 7:04 am — Reply

    why is it that my visa card is not detected by other banks across the world when they want to mark direct deposit to my account. i provide my card number and security but doesnotwork why?

  3. September 9, 2010 at 5:15 am — Reply

    I lost Kshs 6,999.00 through a purchase- double swipe at Safaricom center, Westgate Mall. The purchase was Voided on the KCB side on realizing this since they were using the KCB pdq. Equity customer service numbers on the card went unanswered/ obsolete! This was on the 1st Sept 2010. To date, the transaction has never been reversed as i haven’t gotten my cash back to my Equity account.

    I am deliberating on going to the fraud unit to get some sense out of this experience. I love Equity but have realized that there’s no way of communicating to them should this happen!!! Where’s my Caring and listening partner when i need them???

  4. December 4, 2010 at 3:43 pm — Reply

    Hello, I got the EQUITY VISA Card but it cannot work on paypal. They tell me:

    This credit card has been denied by the bank that issued your credit card. For details on why your card was denied, please contact your credit card issuer’s customer service department. Or, you may want to try adding a different credit card.

    When ever i try to add it. Please Help…
    Thank you

  5. Soobieguy
    January 23, 2011 at 6:50 am — Reply

    I have been in need of a Credit Card from a realiable bank, I have never been a fan of Equity, and after reading some comments here, i guess i just cannot risk it….equity should better style up!

  6. lawrence ndungu
    June 28, 2011 at 3:35 am — Reply

    HI I had a passion for the equity bank and willing to peen an account with your bank but i got a rude shock when i visited the Nyeri Branch Equity bank with my passport which is recogonised world wide and evenj in kenya coz its not the first time to do the transaction using my passport as a tool of identification only to be told by your manager that in a rude shock that wecant use the passport you must provide us with your id so i askked him what is the use of the passport.???let me know i have beenusing the same with coop bank while in kenya and outside kenyas transaction so pls i would like you to explain to us about this issue please concerned potential client for equity bank

  7. Richard kemboi
    October 29, 2012 at 7:43 pm — Reply

    I need a credit card of equity bank and i want to knw id i can qualify to av one.I earn gross ksh15000/ month net of1300 pliz wil qualify or not i need your advice
    thanks.

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