| Colombo, January 26th, 2005: IndusInd Bank Ltd., one of the top private sector Banks in India has entrusted Interblocks with the project to implement an Internet based Payment System to cope with India’s rapidly growing need to make on-line payments for goods and services. The bank will target high volume merchants such as Indian Rail, Stock Brokers, etc to launch its online Payment Services business.
Interblocks implemented Sri Lanka’s first Internet Payment Gateway for Sampath Bank in 2002. The iPay Internet Payments System was the Overall Winner of the National Best Quality Software Awards Competition in 2004 and received a Certificate of Special Mention at the Hong Kong APICTA awards in 2004. The selection of iPay over offerings by established competitors by a technology driven bank such as IndusInd confirms the acceptance of Interblocks as a world-class provider of payment solutions.
Dinesh Rodrigo, CEO of Interblocks said “Interblocks has been actively positioning its solutions through its India Office and have been rewarded with a project that will enable Indian consumers to perform time consuming tasks within the comforts of their homes and places of work. The IndusInd partnership provides for an ideal launch pad for Interblocks and Sri Lankan software to be positioned in India, he added”
Interblocks is in the business of “creating the future for how money moves®” – securely, quickly and across the widest possible range of channels and devices – for traditional and new types of financial service providers and their customers. The company has a clear focus on the consumer experience to build a platform for financial transactions that anticipate user requirements for conducting secure, fast financial transactions across the fullest range of channels. Banks and other financial services companies across Asia recognize Interblocks and its technology as the best available platform for ensuring a secure and personalized transactional experience with their customers.
IndusInd Bank Ltd. started operations in 1994 and has a net worth of over INR 8 Billion as of 31st March 2004. Driven by technology, the bank has taken steps to establish and upgrade its support systems for the introduction of retail banking products and alternative delivery channels, while continuing to expand its network of branches. In its decade-long existence, the Bank has displayed its commitment to global benchmarks in retail banking by proactively adopting the requirements of ISO certification for its entire network of branches.
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