SIX Card Solutions, part of SIX Group and a European payment processor, and PayLife, a provider of cashless payments in Austria, have completed the migration of merchant-related systems and debit cards.
The project began in April 2008 after PayLife decided to abandon its long-term proprietary processing platform and assigned SIX with the processing of its debit cards, ATMs and point-of-sale (POS) terminals. Following a gap analysis, SIX and PayLife started a migration project that included customisation to meet the specific requirements of Austrian cashless payments.
The migration to SIX’s Swiss platform has gone unnoticed by the owners of more than 8.2 million Austrian debit cards and merchants using over 65,000 of PayLife’s POS terminals. The phased migration spanned three and a half years and a total effort of 180 person years, highlighting the scale of the project.
“An efficient and reasonably priced platform is a decisive factor in today’s card business, because the market has become extremely competitive and pressure on profitability increases. At the same time, transaction volumes are growing significantly,” said Peter Neubauer, chief executive officer (CEO), PayLife. “We are convinced that we are going to continue our success story with our new systems and have found the right partner in SIX to take us into the next phase.”
UK firms investment in training and development will increase, on average, by a fifth in the next year, claims Robert Half recruitment after interviewing 100 financial services (FS) executives.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.