GFG Group Utalises Cadencie card management solution

GFG Group and Banco de Oro provide China UnionPay issuing and acquiring in the Philippines

Auckland, 12 July 2011. Payment software and services company GFG Group announced today the recent successful implementation of China UnionPay (CUP) issuing and acquiring by Banco de Oro Unibank Inc. (BDO) in the Philippines, utilising GFG’s Cadencie card management solution.

Miguel Warren, GFG Group Vice President for South East Asia Sales, says BDO, the largest bank in the Philippines, has been a long time user of the Cadencie solution, which drives the Bank’s issuing and acquiring business for MasterCard, Visa, JCB and American Express cards.

“The addition of CUP to BDO’s Cadencie platform will ensure that China UnionPay customers can pay for goods and services, receive information about their card account balance, and withdraw cash in ATMs through BDO’s payment network in the Philippines,” Warren says.

BDO formally announced its cooperation with CUP in a recent ceremony held in Manila. The Bank agreed to open 10,000 POS terminals for CUP within one year.

“This cooperation between BDO and China UnionPay will provide more convenience to businessmen and tourists travelling between the Philippines and China,” says Rolando Tanchanco, Executive Vice President of BDO Consumer Banking Group.

“Furthermore, the addition of CUP to the Bank’s installation of Cadencie will create new business growth areas for BDO and provide new payment options to our Philippine cardholders.”

Miguel Warren says the BDO/CUP project has enhanced the partnership between GFG and BDO: “We are delighted to further deepen our relationship with BDO, a partnership established in 2002,” he says.

“The smooth implementation of CUP issuing and acquiring at BDO is a clear indication that GFG have a thorough understanding of the payments business in Asia Our Cadencie card management system continues to provide our clients with opportunities to innovate in payments whilst maintaining a competitive advantage today and into the future.”

About GFG Group Limited
Accredited by the World Bank, GFG Group is a leading global provider of electronic payment solutions and services to more than 60 major banks and Mobile Network Operators (MNOs) in over 20 countries. Three of the world’s top 30 MNOs are GFG customers. Total subscribers number over 480 million. GFG’s Java-based Cadencie (credit card payments) and Simfonie (Mobile payments) applications enable customers to launch products up to 55 percent faster, with operational cost savings of up to 70 percent, on any hardware platform. This combination of greater speed to market and lower operational costs gives GFG Group customers a measurably faster return on investment. GFG Group’s core research and development team is based in Auckland, New Zealand, with sales, consulting and support staff operating from offices in Melbourne Australia; Manila in the Philippines; Singapore and Dubai, UAE. For more information, visit: www.gfg-group.com

About Banco de Oro
Banco de Oro Unibank Inc. (BDO) is the largest bank in the Philippines. BDO is a full-service universal bank that provides a complete array of industry-leading products and services to the retail and corporate markets, including: Lending; Deposit-taking; Foreign Exchange; Brokering; Trust and Investments; Credit Cards; Corporate Cash Management; and Remittances. Through its subsidiaries, the Bank offers Leasing and Financing; Investment Banking; Private Banking; Bancassurance; Insurance Brokerage; and Stock Brokerage services. BDO has one of the largest distribution networks in the Philippines, with over 700 operating branches and more than 1,400 ATMs nationwide. For more information, visit: www.bdo.com.ph

ENDS

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