Home News & events Press Releases 2018 Quipu offers PIN by SMS service


Quipu offers PIN by SMS serviceQuipo logo

Compass Plus, an international provider of retail banking and electronic payments software to processors and financial institutions has announced that Quipu, a third-party processor, has launched a PIN by SMS service.

With shipping envelopes containing PINs considered unreliable and expensive for the banks, Quipu sought to provide alternative PIN delivery methods for its customer banks. With a large proportion of consumers in possession of a mobile phone, SMS has become a convenient, reliable channel for delivery, and Quipu has tapped into this. The service supports both new PIN generation, as well as forgotten PIN generation, making it convenient for customers to start using and/or reusing their card.

Quipu has been running its processing centre on Compass Plus’ TranzWare applications since 2004 and delivers processing services as well as personalisation facilities to 30 financial institutions across 11 time zones. 


About Quipu GmbH:

Quipu is an IT consultancy and software development company which provides comprehensive end-to-end solutions for banks and financial institutions, from electronic payments to software systems. Quipu is a 100% subsidiary of ProCredit Holding, the parent company of a group of banks that specialise in providing financial services for SMEs. Headquartered in Frankfurt, Germany, Quipu currently operates from eight regional offices around the world, enabling the company to promptly address the needs of a global customer base. Quipu has over 35 years of experience in developing software applications, tools and other services to provide optimal technical support to financial institutions. By combining its global expertise with the knowledge of local requirements, Quipu plays a central role in enabling customers to be competitive, and efficient, and to successfully respond to the evolving demands of their industry, markets, and regulators.



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