Closed Loop Cards

Quipu Processing Centre (QPC) enables financial institutions to issue closed loop cards. These are single purpose cards that are designed to perform specific transaction types, such as purchases, deposits and transfers within a predefined merchant, terminal or acquiring network. Using these cards, financial institutions can target segments with specific needs for card usage among both merchants and their customers.

The closed loop cards maybe issued as either a magnetic stripe product or a contact EMV card product. Since the payment system industry standards are used for the solution, existing terminals can be used for accepting these cards with minimum parametrisation to the terminal software. In place of the payment system QPC plays the role of the certification authority for the public key certificates used in the personalisation process of the EMV cards. The main advantage of the closed loop cards is that they can be used in any local network without restrictions. This makes the domestic products lucrative in markets where there is widespread co-operation between the bank networks. The cards can be local EMV and are as secure as the branded cards from the well-known payment systems.