Overview
Compass Plus was founded in Russia in 1989, having been spun out of a large R&D centre that had been set up in the late 1950s. It moved into the payments space in 1994. It started by acting as a distributor in Russia for international suppliers seeking to break into this country but then set about developing its own system. There was no specific development partner for the original development.
Today, the supplier claims 112 customers for the suite across 28 countries (with claims of ten new customers in the first half of 2011). The broadening suite was rebranded as Tranzware in 2000, at around the time it started to make progress on the international market.
Summary History
1989 – Founded
1995 – Establishes processing centre and launches card management system; commences product development
1998 – Launches first product, now Tranzware Online
2001 – First sales outside CIS (Mongolia and Kosovo)
2004 – First live site in Western Europe, Germany-based Quipu GmbH
2005 – Opens office in UK; gains first customer in Africa (in Nigeria)
2007 – Opens office in Vietnam
2008 – First sales in the Middle East (UAE and Iraq)
2009 – Opens offices in Brazil, Singapore and US
2010 – First customer gained in the US, opens office in Dubai
2010 – Launches mobile banking and internet banking solutions
2011 – First customer gained in Latin America, in Brazil. Also first customer in Kenya.
Product Suite
At the heart of the Tranzware suite is Tranzware Online, a switching, routing and authorisation engine, and Tranzware CMS for card management. The latter spans acquiring and issuing. There is a fraud solution and Tranzware Interchange, a middleware solution for collecting, converting, storing, routing, clearing and settling information in a payment envionment. There is also Tranzware Mobile Banking, used by Almazergienbank, Credit Ural Bank, Moscow Industrial Bank and Uraltransbank. And Compass Plus has an internet banking system, Tranzware Internet Banking, with one user of this being Zapsibcombank in Russia.
Initially, all of the users were in Russia. It moved into neighbouring countries, including CIS states, Ukraine and the Baltic states. The next steps were into central Europe, including early takers in Serbia and Albania.
A breakthrough came in 2004 in Germany, with Compass Plus' solution taken by a processing centre, Quipu (see below). It also made headway in Africa, including in Nigeria, and Asia. The latter region has been one of strong growth and Compass Plus now touts the four largest banks in Vietnam as customers. While not currently naming them, Compass Plus claims two customers in North America, gained in late 2010/early 2011 and a first customer in Latin America, won in April 2011. One of the North American projects apparently spans prepaid cards, credit cards and virtual payments.
The supplier claims scalability, with a reference in Ukraine with more than 20 million cards, thousands of ATMs and tens of thousands of POS terminals supported by the system.
Benchmarks were then carried out in Montpellier in the second half of 2010 for the IBM System p. Using similar criteria to the System z tests (100 million customers, 60,000 terminals), Tranzware Online recorded 1050 TPS. Tranzware CMS ran end of month processing for 20 million active cards in less than eight hours on a statement day and six hours on a standard day.
While modular, with the ability to sell individual components, Compass Plus claims it has a single platform. There is some proprietary technology, dubbed Floraware, plus C++, in the back office and Java for the front office. It can run on Unix, Windows (the most common platform) and Linux with Oracle.
Compass Plus was founded in Russia in 1989, having been spun out of a large R&D centre that had been set up in the late 1950s. It moved into the payments space in 1994. It started by acting as a distributor in Russia for international suppliers seeking to break into this country but then set about developing its own system. There was no specific development partner for the original development.
Today, the supplier claims 112 customers for the suite across 28 countries (with claims of ten new customers in the first half of 2011). The broadening suite was rebranded as Tranzware in 2000, at around the time it started to make progress on the international market.
Summary History
1989 – Founded
1995 – Establishes processing centre and launches card management system; commences product development
1998 – Launches first product, now Tranzware Online
2001 – First sales outside CIS (Mongolia and Kosovo)
2004 – First live site in Western Europe, Germany-based Quipu GmbH
2005 – Opens office in UK; gains first customer in Africa (in Nigeria)
2007 – Opens office in Vietnam
2008 – First sales in the Middle East (UAE and Iraq)
2009 – Opens offices in Brazil, Singapore and US
2010 – First customer gained in the US, opens office in Dubai
2010 – Launches mobile banking and internet banking solutions
2011 – First customer gained in Latin America, in Brazil. Also first customer in Kenya.
Product Suite
At the heart of the Tranzware suite is Tranzware Online, a switching, routing and authorisation engine, and Tranzware CMS for card management. The latter spans acquiring and issuing. There is a fraud solution and Tranzware Interchange, a middleware solution for collecting, converting, storing, routing, clearing and settling information in a payment envionment. There is also Tranzware Mobile Banking, used by Almazergienbank, Credit Ural Bank, Moscow Industrial Bank and Uraltransbank. And Compass Plus has an internet banking system, Tranzware Internet Banking, with one user of this being Zapsibcombank in Russia.
Initially, all of the users were in Russia. It moved into neighbouring countries, including CIS states, Ukraine and the Baltic states. The next steps were into central Europe, including early takers in Serbia and Albania.
A breakthrough came in 2004 in Germany, with Compass Plus' solution taken by a processing centre, Quipu (see below). It also made headway in Africa, including in Nigeria, and Asia. The latter region has been one of strong growth and Compass Plus now touts the four largest banks in Vietnam as customers. While not currently naming them, Compass Plus claims two customers in North America, gained in late 2010/early 2011 and a first customer in Latin America, won in April 2011. One of the North American projects apparently spans prepaid cards, credit cards and virtual payments.
The supplier claims scalability, with a reference in Ukraine with more than 20 million cards, thousands of ATMs and tens of thousands of POS terminals supported by the system.
Benchmarks were then carried out in Montpellier in the second half of 2010 for the IBM System p. Using similar criteria to the System z tests (100 million customers, 60,000 terminals), Tranzware Online recorded 1050 TPS. Tranzware CMS ran end of month processing for 20 million active cards in less than eight hours on a statement day and six hours on a standard day.
While modular, with the ability to sell individual components, Compass Plus claims it has a single platform. There is some proprietary technology, dubbed Floraware, plus C++, in the back office and Java for the front office. It can run on Unix, Windows (the most common platform) and Linux with Oracle.
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