First Data Lietuva has expanded its use of TranzWare Interchange clearing system
First Data Lietuva has expanded its use of TranzWare Interchange clearing system in its in-house processing center, the largest processing centre in Lithuania for over 8 years.
Some of the key features of the project were the complete integration of TranzWare Interchange with the third-party processing solution and the use of the system to convert the clearing formats of the existing processing centre with international payment systems. During the project implementation process, Compass Plus specialists supported the clearing and authorization formats of the TransMaster system, used as the processing solution to ensure the capability of direct interaction with Visa and MasterCard. TranzWare Interchange converts clearing files from original formats BASE II (Visa) and IPM (MasterCard) into the TransMaster internal format and vice-versa, enabling the total automated processing of clearing/settlement transactions, including the full dispute cycle as well as support of MC SAFE-transactions.
TranzWare Interchange is also used for routing clearing files and converting clearing file formats for financial institutions served by the processor. For example, in the case of Swedbank, TranzWare Interchange converts MasterCard clearing files from IPM to BASE II format for further processing in the bank’s operating system.
In addition, First Data Lietuva actively uses the TranzWare Interchange dispute subsystem and the report generation system significantly simplifying the interaction process with the international payment systems as well as facilitating analytical work on accounting.
According to Marina Fedorova, main project supervisor of First Data Lietuva, describes the results of TranzWare Interchange implementation as follows:
“The introduction of this solution to our processing system has allowed the significant optimization of resources and has improved the quality of services provided to First Data Lietuva customers, due to the automation of processes, stable performance and expansion of the system functionality. TranzWare Interchange is a flexible product that has enabled our specialists to independantly develop various solutions, necessary for solving local issues. The support provided by the professional team from Compass Plus was efficient and highly professional. The advanced capabilities and modern technological TranzWare Interchange platform means this product has the most potential for further development and application in multi-bank settlements, clearing and disputes.”
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