OREANDA-NEWS. April 05, 2010. In accordance with the agreement between Joint Stock Company Kazpost and the leading Russian payment system CyberPlat®, the post offices in Kazakhstan start maintaining a unique service allowing to send and receive money transfers through various money transfer systems using a single interface.

In the beginning of March, the first money transfers between the Russian Federation and the Republic of Kazakhstan using the Money Transfer Systems Integrator (MTSI) were successfully carried out. Already in the nearest future, the citizens of the friendly state will obtain an opportunity to receive and send money transfers in the post offices of their republic using the capabilities of the most popular money transfer systems supported by MTSI. These capabilities include interchange of money transfers not only with Russia but practically with all CIS countries and countries of the entire world.

MTSI has been successfully operated and maintained in Russia since April, 2008 and, currently, allows sending transfers through nine systems: UNIStream, Anelik, Bystraya Pochta (Fast Post), Leader, InterExpress, AsiaExpress, Allure, and the two largest international money transfer systems. Several other money transfer systems are being connected.

For an effective entry into the extremely profitable market of money transfers, it is necessary to cover all potential clients wherever possible. Since in Kazakhstan, as well as in Russia, no money transfer system has a market share equal to more than 20%, then, for the full coverage of clients, it is necessary to cooperate with all large money transfer systems – according to CyberPlat® experts, not less than with nine systems.

In order to work with nine money transfer systems without using the MTSI, Kazpost JSC had to do the following:

  • conclude and maintain 9 contracts with money transfer systems;
  • maintain the necessary level of balances of 9 correspondent accounts with the clearing banks of these systems or allocate 9 deposits to operate them;
  • purchase 9 servers;
  • install 9 payment interfaces (gateways) – by the number of systems;
  • AND, MOST IMPORTANTLY, teach the tellers to operate 9 interfaces simultaneously, which is simply impossible – in practice, even an experienced expert will make a great number of mistakes operating more than three systems.

Having implemented the MTSI solutions of CyberPlat®, Kazpost JSC obtained an opportunity to do the following:

  • operate all money transfer systems under a single agreement;
  • maintain only one correspondent account for operating all money transfer systems;
  • use only one server;
  • install only one software package;
  • form only one easy-to-develop technological gateway;
  • obtain a new high-yielding and marketable service;
  • expand the client base due to the new service.