First Data Lietuva Leverages Compass Plus TranzWare Products for Payments Processing

Largest payments processing center in Lithuania automates clearing and settlement transactions

ST. LOUIS--(BUSINESS WIRE)--Compass Plus, an international provider of electronic funds transfer (EFT) and retail banking technology to financial institutions, today announced the First Data Processing Center in Lithuania has expanded its use of the TranzWare Interchange product to enable the automation of the center’s clearing and settlement procedures.

“TranzWare Interchange is a flexible product that has enabled our specialists to independently develop the various solutions necessary for solving local issues.”

First Data Lietuva, the largest processing center in Lithuania, is a division of First Data, a global provider of processing services. The center chose to expand its use of TranzWare Interchange to integrate the product with its third-party processing solution and convert clearing formats to those of international payments systems. With a closer integration, First Data Lietuva enhances its direct communication with Visa and MasterCard and is able to easily move between internal formats, those of the card companies and their bank customers.

“TranzWare Interchange has allowed the significant optimization of resources and has improved the quality of services provided to First Data Lietuva customers due to the automation of processes and expansion of the system functionality,” said Maria Fedorova, main project supervisor at First Data Lietuva. “TranzWare Interchange is a flexible product that has enabled our specialists to independently develop the various solutions necessary for solving local issues.”

“Compass Plus’ TranzWare products enable financial institutions such as banks, credit unions or processors of any size to specifically address the needs of their customers and members,” said Doug Varble, North American vice president of Compass Plus. “With TranzWare Interchange, First Data Lietuva has made complicated processes more efficient and enhanced communication with international payment systems.”

Built by an in-house team of developers, the highly flexible architecture and single-integration structure of TranzWare products enable effective use of applications in a broad spectrum of business environments, as well as easy deployment and management. All TranzWare products are PCI DSS and PA DSS compliant.

About Compass Plus

Compass Plus, an international provider of electronic funds transfer (EFT) and payments technology, with a North American office based in St. Louis, specializes in the development of software for building, implementing and managing retail banking systems, including payment card and bank account management, fraud detection, transaction processing, mobile and electronic commerce and other systems necessary for developing and running electronic payment projects. The company serves more than 100 customers in 25 countries.