Bai-Tushum Bank and BEST Payment System commence cooperation

BEST Payment System enters the Kyrgyz market: now BEST services are available at all the 66 offices of Bai-Tushum Bank.

At the initial stage the cooperation will be focused on remittances. Bank’s clients will be able to send and receive remittances via BEST Payment System in three currencies: Russian Rubles, US Dollars and Euro. The system offers for clients favorable 1 % rates of remittance amount. BEST Payment System (Russia) has been established in 2014. The General Director of the company is Zara Srapian.

Unified Settlement System non-bank lending institution acts as a processing center for BEST PS. BEST Payment System is focused on full-fledged cooperation with partner banks in the provision of both remittances and specialized services, aimed at providing banks’ clients with a full range of financial services. BEST Payment System allows making remittances through bank’s cashier office, ATMs or using e-wallet.

A partner bank’s client will be able to transfer money to a bank card (Visa/Mastercard), repay loan, pay for purchases in shops, pay for communication services and transfers to e-wallets. Transferred amount is kept at sender bank’s account until recipient actually gets the transferred amount. Remittances are provided both at service centers and through ATMs. Partner banks are offered e-wallets (white label) at no cost. Partner bank may establish its own rates for sending remittances from its offices, implement Acceptance of Remittance Sending functions, receive reports in a real-time mode, issue its own e-money using its e-wallet. The operational support of system partners is provided 24×7.