UL is a global safety certification company headquartered in Northbrook, Illinois. It maintains offices in 46 countries. Established in 1894 as the Underwriters' Electrical Bureau (a bureau of the National Board of Fire Underwriters), it was known throughout the twentieth century as Underwriters Laboratories and participated in the safety analysis of many of that century's new technologies.
UL Transaction Security, a division of UL, provides professional consulting services. The company offers payment card security assessment and advisory services. UL Transaction Security serves customers in the financial services industry.Since 2015, Kona Software Lab Limited has been working as sole reseller of UL in the South Asia region covering 6 countries including Bangladesh.
KonaSL has provided UL Test Tool (ATM and POS terminal testing products and services) to several financial institutes in Bangladesh including most of the acquiring banks. Besides being used for contact terminal testing, this tool can also be used to test contactless terminals.
Some of the banks have already introduced contactless cards in the market, after completing their testing and certification process for those terminals.
The UL Brand Test Tool (BTT) has very quickly taken over the market here, starting in 2015, when Kona Software Lab Ltd. started off as a UL reseller. BTT’s market share in Bangladesh stands at more than 90 percent now.
Alongside the BTT, KonaSL is also working with the market for Personalization Validation Tool (PVT). This tool is used to test all types of physical payment cards to ensure personalization as per the standard specifications before achieving the respective certifications.
KonaSL is also providing Mastercard certification services of UL to several issuing banks in the country. In the last 3 (Three) years, KonaSL has been part of more than 95 percent of all Mastercard M-TIP and CPV certification projects undertaken by banks in Bangladesh.Sabiha Samad, assistant manager, sales and marketing, said: "We are not only sale the tools but also ensuring the local support from the project initiation to end. That’s why, banks are becoming more interested and we are getting more opportunities to expand this market in Bangladesh’’.
Writer is Manager, Technical Marketing at Kona Software Limited