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Dashen Bank SC purchased a new card personalisation
machine, which the Bank uses for issuing Visa cards,
for around 200,000 euros (2.5 million Br) from the
German Muhlbaur, through its local agent SSC Plc.
The machine will replace the broken one the Bank had
been using for over a year.
The new machine arrived one week ago with two
professionals who have finalised the installation
and left Friday, August 24, 2007. Another
professional working on security also arrived on the
same day, according to SSC sources.
"We are now working on network integration," an IT
Division member at the Bank told Fortune.
Dashen is the first Bank to introduce the Visa card
system in Ethiopia and attracted 4,365 customers
from the time it launched the service in June 2006
until January 2007. Holders of this card are able to
access their accounts from the 10 ATM machines and
150 point of sales (POS).
The Bank originally imported the technology from
American companies at a cost of 3.5 million dollars.
The software was supplied by ACI Worldwide, through
its local agent, SSC, and hardware accessories,
including the now defunct card personalisation
machine for about 20,000 euros (250,000 Br), from
Data Card, through its local agent, GCS.
Founded in 1975, ACI supplied software to 500
clients in 78 countries.
"After learning the machine we supplied was out of
operation, we contacted Data Card headquarters, and
we were informed that it would take longer than was
acceptable to Dashen to deliver the necessary
parts," Ahmed Kelo (PhD), managing director of GCS,
told Fortune. "Our involvement in the matter
is finished."
It has been more than two months since Dashen
stopped issuing pay cards, according to sources at
the Bank.
Leulseged Teferi, the Bank president, declined to
talk to Fortune attempting to acquire the
number of customers that have been left waiting to
open a pay card account in the past two months.
"Rather than the price of the machine, the most
important thing is the inconveniences towards
customers will affect on the reputation of the
bank," Ahmed, who was surprised at Dashen's quick
effort to send the machine to Dubai, told Fortune.
Dashen, established in 1995 by 11 investors, now has
200 shareholders. In 2005/06, the Bank's capital
reached 386 million Br.
"If an ATM machine breaks, it means that, we have
closed one of our branches. An ATM without the card
is like building of a non-functional branch. I think
the Bank is loosing too much because of the machine
breakdown," a bank expert told Fortune.
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