TransBank has directly connected to the world-leading Visa International organization’s “Visa Net” network. “Visa Net” is the world’s largest and most centralized network that provides security for the transmission, verification, and execution of electronic payments based on international card payment technology, infrastructure, and innovation.
By implementing a series of projects to create an independent digital payment system from 2023, the TransBank has become a full member of Visa International, a direct participant in the National Electronic Transaction Center under the Bank of Mongolia, and a full member of Unionpay International, with independent card software based on the latest “TranzAxis” platform of the card payment management system of the UK-based “Compass Plus Technologies”.
This allows TransBank cardholders to quickly access more than 100 million service providers from more than 15,000 banks and financial institutions in more than 200 countries around the world. In addition, the bank is working to ensure the safety and reliability of its cardholders’ payments with the help of the “Fraud monitoring system” to prevent the risk of payment card fraud and the “VAA system” of VISA International’s security control and monitoring on the Visa Net network.
In addition, Transport Development Bank’s client businesses have opened up a new avenue and opportunity for expanding their business operations by accepting card payments from 4.2 billion VISA cardholders worldwide.