Payment Processing

With the emergence of ChatGPT and other AI tools in 2022, we are seeing the impact these tools can have on individual job roles and entire industries. While AI has not entered into the NonStop space just yet, it is still something we as technologists and self-proclaimed nerds are watching from a distance.

SMCC, as a pioneer in Japan for Visa, has been in the payment service business for over 50 years and is one of Japan’s leading financial services companies with annual card transaction volume of over $ 180 billion. SMCC has been using the HPE NonStop server for several generations since 1983 for authorization operations that require the highest availability, reliability, and real-time processing performance.

Nacha’s new data security Rule is another in a long list of examples of how the regulations and standards continue to evolve and apply to every organization.

For companies that transmit payment card information from consumers, the Payment Card Industry Data Security Standard (PCI DSS) provides the most comprehensive information security standards.

This Bank has the largest network of ATMs and branches in Thailand, with nearly 6,000 ATMs and over 1,000 branches throughout the country. They handle the travel, capital accumulation, and home deposit savings of millions of citizens. The Bank’s total assets amount to 2.62 trillion baht (THB), equivalent to approximately 80 billion USD, and in 2014 it had an operating income of 26.9 billion baht or approximately 826 million USD.

In the international banking industry, falling behind in meeting audit standards while identifying security threats is not an option. The stakes are simply too high.

One of the main trends highlighted in our recent article The Top 5 Trends in REST Services relates to payment applications, and in particular, simplifying access to legacy payments applications like BASE24 and Connex, both of which are still very popular on the HPE NonStop platform.

Here at NuWave Technologies, we’re always working with forward-thinking HPE NonStop server users looking to modernize or simplify access to their valuable NonStop applications and data. We’re also tracking trends outside the NonStop space, in an effort to ensure our LightWave solutions stay current with industry requirements and trends.

Lusis Payments is a leading global innovator of mission-critical payments software and data science technology. Established in France in 1999, Lusis has offices throughout Europe and North America with customers globally. In 2010, Lusis Payments was created to focus on the payments industry. Lusis is best known for its TANGO solution, an online transaction processing engine for mission-critical 24×7 solutions including payments, retail, loyalty, finance, fraud, utilities, and transport. TANGO delivers performance, availability, and scalability, with a rich set of functionalities, all from a single architecture. TANGO is built on a highly performing micro-service architecture providing agile delivery for business needs. Lusis has also made significant advancements in Data Science, Artificial Intelligence, FX Trading, ISO 20022, Fraud and Blockchain.

A major U.S. merchant provider operates a major payments transaction authorization switch – to several million small to medium-size businesses throughout the world. The merchant processes payment authorization for Visa, MasterCard, American Express, Discover, Diners Club, and other major credit and debit card client companies. The cards are issued by banks and other financial institutions for consumer purchasing at brick-and-mortar and online stores, and for withdrawing cash from ATMs. Each card transaction must be approved by the issuing bank before it can be accepted by a merchant or an ATM.

Cash has been having a hard time lately.  With social distancing, retailers no longer appear to want your cash, they want you to keep a safe distance, but they still want your money in other ways.  In the most developed countries, payment by card is well established, and there’s generally a good infrastructure to accept card payments.  Globally, card schemes like Visa and MasterCard have reported a huge increase in the use of contactless payment in the stores where cards can be used, and many consumers have adopted cards in ways new to them…