Kona Software Lab Ltd. (KONA SL) is working on the testing and certification of Chip Cards of different payment brands i.e. MasterCard, VISA etc. on the issuing side of financial institutions.
There are around 100 members in the Bangladesh Office of Kona Software Lab Ltd. and they are working relentlessly to expand the different form factors of digital financial services around the globe. KONA SL is working for last several years as regional reseller of Underwriters Laboratories (UL) testing tools and services. UL is a global safety and security certification company headquartered in Illinois, USA and as of now it serves in more than 104 countries.
As we know there are three actors in the Banking and Non-Banking financial industry such as acquirer, issuer and switch and payment brand part. Kona software is working closely both acquiring and issuing side testing and certification service.
Kona Software GAINS large MARKET SHARE IN BANGLADESH Today, all but two of the acquiring banks in Bangladesh are using the UL Brand Test Tool (BTT) to test their POS & ATM terminals. UL Brand Test Tool (BTT) is the most complete test tool for Acquirers, Processors, Terminal Vendors and Merchants that want to validate their payment devices before connecting to the major payment networks like VISA, MasterCard, JCB etc.All payment schemes mandate proper testing before allowing payment devices to be connected to their network infrastructure.
The ultimate goal of these tests is to ensure interoperability and to have an EMV compliant, payment association-certified terminal that can perform trouble-free transactions within the payment infrastructure. UL Brand Test Tool (BTT) assists Acquiring Banks in easily and successfully performing the brand both contact & contactless testing processes required. UL Brand Test Tool (BTT) has all mandatory tests implemented for Point of Sale (POS) terminals, Mobile POS (MPOS) devices, Automated Teller Machines (ATM), Vending machines and other payment devices. It has been qualified and/or confirmed by VISA, Mastercard, American Express, Discover / Diners Club, UnionPay (international and domestic) and JCB, and by the debit networks Interac, DNA and Pulse. Using this tool an Acquiring bank reduces time to market & terminal validation effort.
The UL Brand Test Tool (BTT) has very quickly taken over the market here, starting in 2015, when Kona Software Lab Ltd. began working as its sole reseller in this region of the globe. UL Brand Test Tool’s market share in Bangladesh stands at 85 percent now. KONA SL is also providing Mastercard certification services of UL to several issuing banks in the country. In the last couple of years, KONA SL has been part of more than 90 percent of all Mastercard M-TIP and CPV certification projects undertaken by banks in Bangladesh.