aXseum Solutions Provides ePayment Support to Fuel Iraqi Economy
Since the inception of our company over 10 years ago, clients have turned to aXseum to build, support, and maintain complex financial systems. aXseum has successfully completed financial systems projects both at home and abroad for agencies like the Internal Revenue Service, USAID, The United States Department of Defense (DOD), as well as with teaming partners worldwide.
aXseum’s ePayment, Electronic Funds Transfer (EFT) and Automated Clearing House (ACH), expertise enables emerging, developing, and stable economies to enjoy the economic rewards of an efficient system for the safe transfer of funds. These systems have far-reaching impact on the businesses, financial institutions, and citizens of these countries, regardless of their state of development.
Often the missions take place in extreme situations.
In Iraq, the DOD mission awarded to aXseum was to design, build, and implement a system with the Central Bank of Baghdad to fuel their emerging economy after years of turmoil. The aXseum strategy was typical of our challenging international projects: allow our global talent to work collaboratively to build, develop, and implement a payment solution that works seamlessly with existing banking systems so that the citizens can safely and effectively conduct business without handling large quantities of cash. Each solution presented was tested thoroughly and then released to the Iraqi public with the support of the banks, the business community, and international credit card companies.
One of the challenges that we faced was recruiting major credit card companies like Visa and MasterCard to come to Iraq and offer their commercial services to the country. But with the hard work of our team and the ePayment solution we provided, these firms quickly saw the opportunity to conduct business securely in Iraq. They were thrilled to become a part of an emerging financial system that opened up a new market for them. Michael Appleton, Chief Strategy Officer
After designing and building the data center to house the ePayment operations in Iraq, aXseum went to work on a solution for the country that would allow the average citizen to conduct business safely and securely. The outcome was a mobile banking platform that allowed anyone to transfer funds and provide payment for goods and services from their cell phone. The project was an overwhelming success and continues to be a model for mobile banking and ePayments today.
Easy, quick, and secure, transfer of funds is paramount to any economy, and especially important in developing countries around the world. Our work in Iraq with the Task Force for Business and Stability Operations (TFBSO) was challenging and immensely rewarding. Giving everyone in Iraq access to simple and straightforward payment methods has allowed the economy to continue to grow and help stabilize the country. Michael Perez, Chief Executive Officer
ePayments solutions are one example of how aXseum continues to use our international expertise to build solutions to complex problems around the globe.