SwitchMaster was established in 2011 as a payment processor and currently provides services for a network of over 35,000 ATMs and self-service kiosks operated by more than 200 banks, together accounting for in excess of 20 million active cards in circulation. One of their largest customers is United Settlement System (USS), a Moscow-based clearing house that consolidates the ATM networks and cash & payment acceptance points of a number of credit organisations under common technological and financial terms.
SwitchMaster’s main function as the payment processor for USS is to perform transaction routing between the members of this payment association. The operation centre processes transactions for the following categories of members and partners of USS:
- System members (USS, the settlement centre of the association; payment card systems Zolotaya Corona, NCC | UC, UnionPay; and large financial institutions with agent bank networks)
- Processing centres (UCS, Compass Plus)
- Service operators (money transfer and e-money systems, mobile network operators, EBPP providers etc.)
These participants provide interaction with their counterparties; financial institutions which in turn provide payment services to their end customers. This is why SwitchMaster indirectly generates a unified technological and information space for every participant in the payment service market.
Centralised transaction logistics implemented via the SwitchMaster operation centre offer great business development opportunities for payment system and service operators, as well as financial institutions interested in these services.
Connecting to SwitchMaster allows payment service operators to gain access to the USS payment association’s extensive customer base and acquiring network. This eliminates the need to integrate with each individual member, as the interface to SwitchMaster provides the automatic connection of any company that operates under its umbrella.
In addition to solving the primary task (technical interaction with the payment association) an operator, once connected to SwitchMaster via standard protocol, is able to access multiple payment and informational services via the same interface. Avoiding the need to integrate with numerous information systems enables SwitchMaster customers to reduce costs, minimise project risks and provides them with a tool for the quick realisation of business objectives.
For financial institutions, the connection of new services under this scheme ensures minimal disruption to their financial and technological resources – it is performed as part of existing organisational and technological relationships with the system members and USS processing centres.
SwitchMaster has a strategic partner, Compass Plus, who develops and implements a comprehensive and integrated range of electronic payment technologies. SwitchMaster runs on the innovative retail banking application platform, TranzAxis, built by Compass Plus.
SwitchMaster’s processing facility is located in the DPC (Data Processing Centre) of Compass Plus. The use of fault-tolerant software and hardware technologies ensures that services run uninterrupted 24/7. Compass Plus’ DPC is certified and regularly audited in compliance with PCI DSS, which provides a high level of security.
Through their partnership with Compass Plus, SwitchMaster has significant potential with regards to its scalability and performance, as well the development of new services.