Euronet India Services Pvt Ltd will be powering YES BANK’s core payment infrastructure including, but not limited to, switching transactions between endpoints, driving payment channels, card management services, etc.
Being a pioneer and industry 1st in a variety of countrywide payment initiatives like Digital India, YES BANK decided to modernize its core payment infrastructure to drive the bank’s next level of digital growth and at the same time be up in the curve as far as Reliability, Accessibility & Security (RAS) parameters are concerned. Following a rigorous evaluation, Euronet emerged as the partner of choice for the Bank. The right-to-use license deal was signed in last quarter of 2017 and the project has witnessed a record implementation timeline, going live in Feb 2018.
Euronet’s mandate to migrate from the bank’s incumbent switching platform, which has been in place since the bank’s inception, onto Euronet’s switching platform and the fact that Euronet would be deploying the entire payment stack in a private cloud makes this a 1st of its kind engagement in the Asia Pacific.