Company Profile
International Smart Card is a semi government LLC, based in Baghdad, Iraq
Founded : Was established through partnership between two of the largest government owned banks with the IEPS one of the leading IT providers in the private sector in 2007.
Company Goal: Introduce technology to the financial sector in the Iraqi market.
Employees : 700 Engineers, Bankers and technicians
5 year target : 10 million cards, 30,000 POS, 500 million transaction
Capital : IQD 3,000,000,000 - fully paid (US $2,564,000)
Bankers : Rafidain Bank and Rasheed bank – Baghdad - Iraq
Auditors : Iraqi Board of Supreme Audit Institution
ISC is headquartered in Baghdad, and has offices in all Iraqi provinces.
The smart card system was launched late 2008 and systematically expanded into new markets resulting in a market penetration of 1,500,000 cards nationwide with contract potential of 6 Million cards in the next 2 years. We are constantly establishing strategic partnerships with the best International providers to help introduce technologies in a rapid and efficient manner.
We are the market leader in biometric-based smart card payment systems with nationwide presence. Further reference projects are a telecommunication network solution over satellite connecting bank branches. The company’s market strategy focuses on the implementation of fully integrated payment, switching and settlement systems for national and regional payment environments suitable for multiple applications and services, whether deployed in undeveloped rural areas or developed cities in Iraq.
In addition to having functionality tailored to the needs of the un-banked and under-banked populations, our platform provides an outsourced solution for all domestic mass payments that are required to be made to recipients without bank accounts, reduces administration and cash handling costs, facilitates information management regarding payment status and creates auditable transaction records.
We uses secure smart cards to effect transactions “off-line” in underdeveloped areas where traditional financial institutions and their services have limited penetration or are otherwise unavailable due to the lack of banking and communications infrastructure.
All transactions effected through the system occur between 2 cards at an ATM or POS rather than through a host mainframe (as with traditional banking and payment systems), since all of the relevant information necessary to perform a financial transaction is held on the smart cards thus, through the offline capability, cardholders can enter into transactions at any time with other cardholders in even the most remote areas so long as a portable offline smart card reader is available. Further to retail payments and purchases, the solution is suited for the following market sectors: banking, microfinance, insurance, pension & allowances, salary & wage distribution, health care management, money transfers, voting and identification. http://www.smartqi.com/ISC_en/index.php?option=com_content&view=article&id=128&Itemid=129
International Smart Card is a semi government LLC, based in Baghdad, Iraq
Founded : Was established through partnership between two of the largest government owned banks with the IEPS one of the leading IT providers in the private sector in 2007.
Company Goal: Introduce technology to the financial sector in the Iraqi market.
Employees : 700 Engineers, Bankers and technicians
5 year target : 10 million cards, 30,000 POS, 500 million transaction
Capital : IQD 3,000,000,000 - fully paid (US $2,564,000)
Bankers : Rafidain Bank and Rasheed bank – Baghdad - Iraq
Auditors : Iraqi Board of Supreme Audit Institution
ISC is headquartered in Baghdad, and has offices in all Iraqi provinces.
The smart card system was launched late 2008 and systematically expanded into new markets resulting in a market penetration of 1,500,000 cards nationwide with contract potential of 6 Million cards in the next 2 years. We are constantly establishing strategic partnerships with the best International providers to help introduce technologies in a rapid and efficient manner.
We are the market leader in biometric-based smart card payment systems with nationwide presence. Further reference projects are a telecommunication network solution over satellite connecting bank branches. The company’s market strategy focuses on the implementation of fully integrated payment, switching and settlement systems for national and regional payment environments suitable for multiple applications and services, whether deployed in undeveloped rural areas or developed cities in Iraq.
In addition to having functionality tailored to the needs of the un-banked and under-banked populations, our platform provides an outsourced solution for all domestic mass payments that are required to be made to recipients without bank accounts, reduces administration and cash handling costs, facilitates information management regarding payment status and creates auditable transaction records.
We uses secure smart cards to effect transactions “off-line” in underdeveloped areas where traditional financial institutions and their services have limited penetration or are otherwise unavailable due to the lack of banking and communications infrastructure.
All transactions effected through the system occur between 2 cards at an ATM or POS rather than through a host mainframe (as with traditional banking and payment systems), since all of the relevant information necessary to perform a financial transaction is held on the smart cards thus, through the offline capability, cardholders can enter into transactions at any time with other cardholders in even the most remote areas so long as a portable offline smart card reader is available. Further to retail payments and purchases, the solution is suited for the following market sectors: banking, microfinance, insurance, pension & allowances, salary & wage distribution, health care management, money transfers, voting and identification. http://www.smartqi.com/ISC_en/index.php?option=com_content&view=article&id=128&Itemid=129
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