CTC Malaysia and Cardzone Partners to Launch Cloud Based Next-Gen Digital Payment Solution

Date : 3-Sep-2019
Location: Kuala Lumpur

Key Takeaways:
  • Cardzone is first Malaysian partner on CTC Malaysia’s CUVIC Cloud targeting financial institutions and enterprises in the payment space regionally
  • Partnership combines Cardzone’s next-generation payment solution and CTC Malaysia’s CUVIC Cloud infrastructure and managed services; enables customers to adopt the new technology to accelerate digital transformation and go-to-market initiatives
  • For companies running legacy systems in the digital age of mobile apps and social media, operating and maintaining these systems are increasingly costly - These challenges can be addressed with Cardzone’s comprehensive payment suite which includes multi-channel financial switching for acquiring of transactions from all channels like ATM, POS, e-Commerce and m-Commerce (including credit/debit cards, Internet, e-wallets QR code), and others.
  • Cardzone has developed and tested its payment solutions on CUVIC Cloud, successfully showcasing high compute performance levels equivalent – or better – than high-end systems, achieving an impressive 400 authorization transactions per second for 10 million accounts.
  • Currently, both companies are working together to introduce third-party payment processing (TPP) so that Cardzone’s payment solution on CTC’s CUVIC Cloud (On Prem) is highly secured and Payment Card Industry Data Security Standard (PCI-DSS) certified, to customers in Malaysia and across the region. For smaller banks and other financial service providers, instead of investing in capital-intensive IT Infrastructure for payment processing, this TPP service delivers the cost benefits of “Software as a Service” to them.

  • Dennis Koh, Managing Director, CTC Global Sdn Bhd, said this offering provides enterprises with an avenue to migrate digital payment to the cloud as part of digital transformation strategy.
  • Danny Lo, Chief Executive Officer Cardzone Sdn Bhd, said the offering is based on feedback from customers who envision a complete payment outsourcing service that includes a payment application solution as well as secured IT infrastructure and IT management services – all at a cost-efficient price.
  • A cloud based digital payment solution that simplifies the customer cloud experience where users can find flexibility and agility, and to control and automate operations at an affordable TCO (Total Cost of Ownership) with the promise of replacing complex legacy-based loosely integrated systems.
Editor's comments:
  • Think of it as a solution which has the ability to integrate conventional (ATM, POS, credit cards) and digital (e-commerce, m-commerce, e-wallets) payment channels under a unified cloud platform on top of a non legacy core payment backend.
Signing Ceremony between CTC Malaysia and Cardzone