SWIFT PARTNERSHIP

SWIFT has teamed with webMethods to upgrade the the payment
processes between financial institutions and corporate customers. There is
no standard, universally accepted method to support
“Straight-Through-Processing” for payment processes between banks and their
corporate customers. webMethods has developed support for the SWIFT
“TrustAct” and “e-paymentsPlus” solutions, providing financial institutions
with a fully integrated solution for connecting with corporate clients’
back-end systems. The solution allows corporate businesses to seamlessly
integrate electronic payment processes with their supply chain management
and back-end
ERP systems. Financial institutions benefit from higher levels of process
automation and STP as the solution ties in automatically with the inter-bank
payment processes that generate MT103s. webMethods and SWIFT will jointly
promote the integrated solution.

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LASERCARDS

Drexler Technology Corporation, as a subcontractor, has received a
US$7.4 million order for its LaserCard multi-biometric ID cards from U.S.
Immigration and Naturalization Service and U.S. Department of State. U.S.
Department of State “Laser Visa” cards are used by more than five million
frequent visitors from Mexico for crossing the border, allowing travel up
to 25 miles into the states of Arizona, California, New Mexico, and Texas
for 72-hour visits for shopping and other consumer activities. Under the
U.S. government subcontract, awarded to Drexler in June 2000 for up to 24
million “LaserCard” optical memory cards, approximately 11,320,000 cards
have been ordered thus far under seven purchase orders, including the
latest order. The LaserCard optical memory card is capable of recording and
storing up to 2,800 kilobytes (2.8 megabytes) of digital data.

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TransFort 5.0

Arcot Systems released version 5.0 of its popular “TransFort” payment authentication solution which supports all aspects of the “Verified by Visa” and MasterCard “SecureCode” programs. “TransFort 5.0” provides a full set of options for authentication and administration issuers of credit and offline debit cards. The options range from simple passwords to smart cards to “ArcotID” software smart card. “TransFort 5.0 for Merchants” is designed for use in-house at individual merchants, at merchant acquiring gateways, and with hosted payment service providers. “TransFort 5.0 for Payment Organizations” includes directory servers and authentication verifiers that route messages from merchants to issuers.

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Triton Waves

In December, Triton ATM users will have the ability to make Western Union money transfers, buy prepaid wireless phone minutes and cash government or payroll checks. “Triton Waves” includes three service partners: Western Union, Euronet’s “PaySpot” prepaid wireless phone recharge and Cashworks check cashing services. MS-based Triton says it will be adding additional bundles of services to the “Triton Waves” offering in coming months. “Triton Waves” is an acronym for “Triton with added value enabled services.” Triton is the largest provider of off-premise ATMs and ATM management software in North America and has more than 70,000 installations in over 17 countries worldwide.

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IFS TPII

Moscow-based Progressive Systems & Technology has signed an agreement for
ten TPII licenses from NY-based IFS International. PS&T is a provider of
payment and debit card solutions to banks
within the Russian Federation and Commonwealth of Independent States. PS&T
customers include the Union Card group which is the largest debit card
operating throughout the Russian Federation with more than 300 member
banks. IFS also announced the opening of a production services center in
Moscow.

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Net.Pay

Sallie Mae’s new EBPP solution, “Net.Pay,” is picking up steam among colleges and universities across the country. More than one hundred campuses at 42 colleges and universities are now using “Net.Pay” products and services. The “Net.Pay” suite enables students and alumni to make secure Internet payments using a credit card, debit card or ACH debit. The solution also features: electronic bill presentment and payment, lockbox and statement processing services, storefront technology, pay-by-phone capabilities with interactive voice response and tuition payment plan. The “Net.Pay” suite also gives students and their families the ability to schedule payments in advance and receive counseling on payment options. Institutions which have recently implemented “Net.Pay” products and services include: Emerson College, DePaul University, Missouri Western State College, University of Central Arkansas, University of Colorado, University of Louisiana, University of Richmond, and SUNY-Utica.

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