RS2 at Shanghai Payment Innovation Summit

RS2, the global provider of card management systems software, participated in the Payment Innovation Summit 2011 at the Renaissance Shanghai Pudong Hotel earlier this month.

The event brought together chief executives and directors from organisations in the payment industry such as central banks, regulatory authorities, commercial banks, telecommunication operators, payment and settlement institutions and payment solution and service providers.

RS2 director of sales and implementation Radi El Haj manned the Malta-headquartered company’s booth and explained the benefits of Bankworks, RS2’s payment solution.

China sees tremendous growth in the payment industry due to the rapid development in its economy and an increase in the demand and expectations on payment products and services from the large number of internet and mobile users.

The pre-paid card market is also developing rapidly in China, where some organisations have already obtained a licence to start issuing pre-paid cards.

The country is also upgrading the entire payment infrastructure.

Mr El Haj is to take over as chief executive officer of RS2 next year, replacing Mario Schembri who is to become company chairman.