Žoržas Šarafanovičius, CEO
The global Point-of-Sales sector witnessed an exponential growth of USD 62.34 billion in 2018, showcasing the dynamic nature of the banking and finance industry. Predicted to increase by almost 7.8 percent in the years to come, the number of Electronic Funds Transfer at Point of Sale (EFTPOS) terminals will also skyrocket invariably. Such market growth demands solutions capable of efficiently monitoring the entire EFTPOS network for smoother business orchestration.
Enter ASHBURN International. A part of the Penki Kontinentai Group, the sole objective behind the company’s establishment was to develop, implement, and maintain EFTPOS terminal networks and loyalty programs. Having earned quite the reputation for itself in the electronic payments and services landscape, ASHBURN International, led by Žoržas Šarafanovičius as the CEO, is now focused on designing its ingenious offering—TransLink.iQ—with an aim to effectively empower banks and processing centers to manage payment terminal networks and monitor, regardless the size and complexity of existing EFTPOS infrastructures.
“TransLink.iQ is a comprehensive solution that helps clients automate their transaction system, thereby optimizing costs and overheads in the process,” explains Mr. Šarafanovičius. Serving as the bridge between acquirers and point of sale terminals, TransLink.iQ provides real-time terminal management, and ensures flexibility and safety during financial transactions. In addition, it allows organizations to make payments with traditional and contactless cards of both local and international payment systems with the noteworthy inclusion of loyalty cards. TransLink.iQ is compatible with main vendors of globally recognized EFTPOS terminals, assuring secure transactions every time. The solution bagged with world recognized Payment Application Data Security Standard (PA-DSS) and VISA PIN certifications, which indicates that all modules of TransLink.iQ in terms of storage, processing, and transmission of cardholder data at the stage of authorization and transaction conform to high international security standards.
TransLink.iQ is compatible with main vendors of globally recognized EFTPOS terminals, assuring secure transactions every time
The main advantage of TransLink.iQ multi-hosting, multi-vendor, multi-banking and multi-merchant that can be customized according to the specific client’s needs. International payment systems require regular updating of cryptographic keys. The financial institutions cannot avoid financial and time costs by performing this job manually, directly in each terminal. “Contrary to the manual method of changing the cryptographic keys of international payment systems at regular intervals, we have automated the remote update process of the cryptographic keys for our clients centrally, and do this free of charge,” states Mr. Šarafanovičius. ASHBURN International today has several TransLink.iQ installations in varies countries that enable more than 100 million transactions per month.
ASHBURN International has recently launched one of the largest projects in Uzbekistan. Taking advantage of the rapid development of the Uzbek electronic payment market, the company has successfully installed the TransLink.iQ platform in Uzbek processing center, which operates more than 250,000 EFTPOS terminals owned by 28 banks. Enhancing the flexibility of the TransLink.iQ while retaining its existing functionalities and versatility, ASHBURN International has carried out varieties of tests and experimental work on system integration, before an optimal solution, most suitable for the Uzbek market, was found.
Besides the TransLink.iQ platform, ASHBURN International has also introduced a payment service provider (PSP) model or the provision of payment terminals for rent, which guarantees an uninterrupted flow of financial transactions. Currently, the company is providing round-the-clock services in the Baltic States and Georgia, while conducting live monitoring activities from its Vilnius office (Lithuania). Within the next three to five years, ASHBURN International has extensive plans to expand its footprint in Germany, the United Kingdom, the USA, and Africa. “We seek to improve the functionality of TransLink.iQ, in order to promote seamless payments and other financial operations among our clients,” concludes Mr. Šarafanovičius.