SINNAD provides the financial institutions with high quality Debit card management solutions, imposing the online authorizations that ensure a high level of risk management control.
Debit cards can be linked to a customer’s default current account, or they can be linked several products, including savings accounts and multicurrency services.
SINNAD’s authorization process is directly connected online to any core banking system, checking the cardholder’s account balance in real time to prevent unauthorized overdrafts. Funds are automatically debited from the customer’s account and electronically transferred to the respective ATM account, merchant account, or external payment system account
SINNAD can work with either of the following two models:
Balance managed by SINNAD – this is used in cases where the card account is separate from the holder’s normal current account
Balance managed by the core banking system – in this case the authorization system interacts online with the core banking system during the transaction to retrieve the balance from the core banking system before approval.