Alliance Bank plans first among Kazakhstan banks to make payment transaction in July on chip cards through processing center of Kazakhstan
/Kazakhstan today, March 17, 03/ - Alliance Bank intends to become the first
Kazakhstan bank, which will make the first payment transaction on international
chip cards Visa Smart Debit &Credit (VSDC) through Processing center CJSC,
the bank's press-service informed.
According to the information of the press-service, the bank has coordinated
with Processing center CJSC plan-schedule on introducing card products with the
specification VSDC and the first transaction on international chip cards VSDC
will be made approximately in July of this year.
The electronic chip's abilities allow to place in the map the large volume of
information in comparison with traditional maps with magnetic stripe, and,
besides, record software applications on it, which realize various non-payment
functions (for example, systems of discounts or bonus points, various
identification applications, individual corporate programs and etc.). Besides,
usage of microprocessor cards significantly increases the level of card
products security because multilevel degrees of protection repeatedly decrease
According to the bank's data, during the year its assets increased 3.2 times
and as of March 1 of 2003 equaled to KZT26.4 bn, deposit base increased 3.8
times up to KZT18.9 bn. According to results of February of this year stake of
Alliance Bank at term deposits market took 4% or the 6th place among Kazakhstan
banks. The bank's credit portfolio increased within this period 2.8 times and
as of March 1 of 2003 equaled to KZT19.9 bn.