BITS provides electronic payment solutions that enable financial institutions and third-party processors to issue credit, debit, and prepaid cards, manage merchant transactions, and operate POS and ATM terminals. Their technology facilitates reconciliation with various networks and enhances customer retention through loyalty systems, while also offering testing solutions for validating payment processes.
Funding
Funding not disclosed
Founders
Product
Problem
Financial institutions and payment processors face challenges in efficiently managing electronic payment systems, including card issuance, transaction processing, and reconciliation with diverse networks. Ensuring seamless integration across multiple channels and maintaining customer loyalty through effective systems also presents ongoing difficulties.
Solution
Business IT Solutions (BITS) offers electronic payment solutions designed to streamline operations for financial institutions, third-party processors, and national or regional switches. Their platform facilitates the issuance of credit, debit, and prepaid cards, along with the acquisition of merchant transactions. BITS also provides tools to manage POS and ATM terminals and reconcile transactions with local, regional, and international networks. Furthermore, the company offers loyalty systems to enhance cardholder and merchant retention, as well as testing solutions to validate payment systems and processes.
Target Audience
BITS primarily serves financial institutions, third-party payment processors, and national or regional switches seeking comprehensive electronic payment solutions.
Features
- Card issuance and management for credit, debit, and prepaid cards
- Merchant transaction acquisition and processing
- POS and ATM terminal driving capabilities
- Reconciliation with local, regional, and international payment networks
- Loyalty program management for cardholder and merchant retention
- Testing solutions for payment system validation
- Integration with multiple customer channels, including mobile, call center, IVR, email, and web