The National Bank of Kazakhstan announces a launch of the Interbank System of Payment Cards (ISPC). The system is designed to process interbank card operations in Kazakhstan, Delovoy Kazakhstan reports.
Establishment and launch of ISPC will ensure security and uninterrupted operation of the payment card market, a guarantee of internal settlements for Kazakhstan’s banks.
The system was developed in close cooperation with the International Payment Systems Visa, Mastercard and UnionPay (the IPSs) and the participating banks of the payment card market.
Within ISPC creation, a local card infrastructure has been built, and an appropriate regulatory and legal framework has been established. Agreements were also signed with IPSs to arrange processing of local transactions with payment cards issued by Kazakhstani banks.
Currently, the banks providing services to accept payments using payment cards have been connected to the ISPC. The necessary work was carried out to transfer traffic of local card transactions of banks, including adaptation of banking systems and re-configuration of interaction processes with international payment systems.
ISPC operator is a subsidiary of the National Bank of Kazakhstan – Republican State Enterprise Kazakhstan Interbank Settlement Center of the NBK.
