AccesBanque Madagascar, part of AccesHolding Group and one of the largest commercial banks in the country, has successfully migrated its ATM acquiring and card management businesses to Compass Plus Technologies’ processing centre. The move enables the bank to further expand its business offering and launch new products and services at pace.

AccesBanque’s mission is to provide a range of diversified financial services in Madagascar that drive financial inclusion amongst MSMEs (micro-entrepreneurs, small and medium entrepreneurs), and their families and employees. To help it achieve its ambitions, AccesBanque developed a plan to scale up its business by migrating its card management and ATM acquiring businesses to a more reliable and technically advanced processor that could support the bank’s growth and meet its requirements both now and in the future.

Compass Plus Technologies processing centre emerged as the ideal solution due to the scalability and flexibility it offered the bank while enabling it to reduce its time-to-market when launching new services and products. The project included the migration of all of AccesBanque’s ATM acquiring services and Mastercard and UnionPay debit card issuing services, which was completed in under a year. Moving forward, AccesBanque is planning to further expand its business offering by launching a new credit card business, implementing POS acquiring services, and becoming certified with Visa with support from Compass Plus Technologies.

Alexey Osipov, EVP, MEA Managing Director at Compass Plus Technologies, said: “We’re delighted to be working with AccesBanque, one of the leading banks in Madagascar that’s transforming the payments market in the country. Now that AccesBanque is utilising our state-of-the-art processing facility, it will be able to bring new products and services to market quicker than ever and will improve the banking experiences of local consumers. We look forward to strengthening our partnership and driving positive change in the Madagascan payments market.” 

Mikhail Velichko, CEO at AccesBanque Madagascar, said: “The migration of our ATM acquiring and card management services to a market-leading processor is a key step towards delivering the highest quality services and experiences to our customers. The move has allowed us to further expand our business, as seen with the introduction of UnionPay cards and the launch of our credit card business. Throughout the project, we’ve found the Compass Plus Technologies team to be professional, reliable and extremely knowledgeable and we look forward to working together on future projects.”

Asad Burney, General Manager at UnionPay International (Africa Branch), said: “It was great to be involved in a project that will positively impact the lives of Madagascan consumers. UnionPay is only on the start of its journey in Africa and we believe we have so much to offer in the market. Organisations such as AccesBanque and Compass Plus Technologies will help us expand our presence in the region and we look forward to working with them to deliver more innovative projects.”