Kuala Lumpur, 13 December 2021– Malaysia is moving forward in transforming itself into a contactless society. In line with this trend, homegrown digital economy enabler, Cardtrend Systems, is committed in its mission to assist businesses in developing digital transaction innovations that will help strengthen their relationship with clients, while ensuring growth in a fast-paced, highly changeable business environment.
Despite the current accelerated adoption of digital tools and processes, there are still plenty of businesses that have yet to integrate with the digital world amidst ongoing concerns of security compliance and data breaches. In fact, a survey by Trend Micro Incorporated revealed that 73% of organisations in Malaysia reported that they are likely to experience a data breach that impacts customer data in the next 12 months.
Creating Secure Transaction Pathways For More Comprehensive and Efficient Payment Ecosystems
To that end, Cardtrend Systems provides solutions like its iAuth, iPricer and iCrypto modules that can help businesses innovate and build a secure payment ecosystem for their platforms. Through these modules, Cardtrend Systems can process, authorise and monitor high-volume asynchronous transactions as well as configure complex pricing structures which helps businesses build a comprehensive and efficient payment ecosystem.
Their newest software and service offering, iCrypto, is the only non-exclusive Application Programming Interface (API) that targets cloud migration of Payment Hardware Security Module (HSM) in the Southeast Asia region. Incorporating this into a platform ensures data confidentiality every time there is an exchange of data between two parties and helps build a secured environment for various financial functions. With this determination, businesses will be able to introduce more convenient, cashless payment methods and Buy-Now-Pay-Later (BNPL) schemes.
“Businesses today are finding it difficult to keep up with the speed of change that often comes with the accelerated adoption of digital tools and processes. Through iCrypto, we aim to provide a convenient way for businesses to migrate the legacy system progressively with hardware security modules, allowing them to implement upgrades in a flexible manner and keep its pace in a highly changeable business environment. More than that, we aim to make monitoring and processing transactions as seamless and as efficient as possible,” shares Chee Yong Mok, managing director of Cardtrend Systems.
Helping Businesses Build Customizable Rewards and Robust Fleet Management Systems
In the face of an increasingly competitive ecosystem, companies must find ways to stand out in the eyes of both their target market and their employees. To build a strong connection with their individual audiences, businesses should offer lucrative rewards programs that can be the differentiating factor that results in returning, loyal customers. In fact, 78% of consumers are more likely to buy from a brand with a loyalty program. Meanwhile, employee management and productivity can be improved by up to 60% with the use of digital technologies for backend processes.
With this in mind, Cardtrend Systems provides access to its LoyaltyOps Backend System, a reward system with back-end payment gateways that helps businesses enhance their B2B and B2C relationships through vouchers and cash-prize events with strict confidentiality. This solution has also been instrumental in establishing employee recognition programmes, thus creating more collaborative workplace ecosystems.
To further create loyalty among its B2B partners, particularly those in the fuel retail industry, Cardtrend System also provides end-to-end fuel and fleet solutions through its FleetOps Backend System. A major provider of fuel card management services and closed-loop systems in Southeast Asia, Cardtend enables organisations to effectively monitor, track, and manage its fleet through its fuel card usage.
“Digitalisation is not just about moving data to the cloud, it involves transforming processes and adopting latest technologies to provide better services with agility and precision” added Chee Yong Mok.
Cardtrend Systems is a platform that houses a wide range of customisable services that simplifies and manages multiple backend systems encompassing payments, rewards and loyalty programs, as well as fleet management. The first in ASEAN to receive the PCI SSF certification – a global requirement for financial transaction backend developers to ensure data security- Cardtrend Systems has processed and managed over 50 million secure transactions in the region through their solutions.
Aiming to participate in the Islamic digital economy (IDE) in 2022, Cardtrend Systems is looking to offer their range of solutions to a wider market and offer multiple other solutions such as purchase card solutions and corporate medical e-payment solutions, and help drive businesses and organisations in Malaysia forward towards digital innovation.