| Payment Exchange is pleased to announce the closing of a deal with Bank One: both parties have |
|
jointly signed an Agreement which officially designates Payment Exchange as the bank's Processor. |
|
|
| Bank One is slowly but surely marking the banking space in Mauritius. Acknowledging that today |
| banks have to provide significant value add in order to maintain a competitive edge, the bank |
| plans to issue credit cards to its customers in the third quarter of 2009. To achieve this,Ba |
| nk One has made the smart move of outsourcing its card operations to Payment Exchan |
| ge. Bank One was represented by Raj Dussoye,Chief Executive Officer and Dhinoo Vee |
| rasawmy, Chief Operating Officer, whereas on PEX side ,Dhaneshwar Damry,Chair |
| man, and Sailesh Sewpaul, Chief Executive, signed the contract. |
|
| Formerly known as First City Bank Ltd, the bank changed hands on the 22nd |
| February 2008,when CIEL Investments Limited(one of the leading financial |
| groups in Mauritius) and I&M Bank Limited (one of the leading banking |
| institutions from Kenya) jointly acquired the First City Bank Ltd on a 50 |
| - 50 shareholding basis. Bank One has a clientele base of over 370 |
|
00 The bank presently offers International Cirrus/Maestro Debit ca |
|
rds and has a local network of 14 ATMs, which it plans to incre. |
|
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Payment Exchange is pleased to announce the closing of a deal with Bank One: both parties have jointly signed an
which officially designates Payment Exchange as the bank's Processor.
Bank One is slowly but surely marking the banking space in Mauritius. Acknowledging that today banks have to 
significant value add in order to maintain a competitive edge, the bank plans to issue credit cards to its customers 
third quarter of 2009.To achieve this, Bank One has made the smart move of outsourcing its card operations to 
Exchange. Bank One was represented by Raj Dussoye, Chief Executive Officer and Dhinoo Veerasawmy, 
Operating whereas on PEX side Dhaneshwar Damry, Chairman, and Sailesh Sewpaul, Chief Executive, 
the contract.
Formerly known as First City Bank Ltd, the bank changed hands on the 22nd February 2008, when 
Investments Limited (one of the leading financial groups in Mauritius) and I&M Bank Limited 
leading banking institutions from Kenya) jointly acquired the First City Bank Ltd on a 50-50 
basis. Bank One has a clientele base of over 37,000. The bank presently offers International 
/Maestro Debit cards and has a local network of 14 ATMs, which it plans to increase. 
Exchange has, in order to deliver a premium level of service and support for 
processing, purchased a complete, packaged solution from ACI Worldwide,
provider of application software for electronic payments. The service will include 
issuing and management, card acquiring (including device driving and 
card issuing, clearing and settlement.
