Digital Transactions Authoritative, insightful and timely information for payments professionals
TPI Software LLC, a privately held provider of e-commerce and point-of-sale systems based in Redmond, Wash., has won certification on Paymentech LP's NetConnect platform, a major network supporting online and telephone transactions, as well as transactions at the point of sale, using Internet connections. TPI, which claims to have developed the first payment server technology founded on Web services to be certified by major payment processors, says its software can process credit, debit, and electronic benefit transfer transactions at the point of sale, online, and in wireless applications in three to five seconds, relying on the Internet as a “high-speed, low-cost communications network.” TPI expects the Paymentech certification to significantly expand its client base. Based in Dallas and owned jointly by Bank One Corp. and First Data Corp., Paymentech processes for 13 of the 25 largest Web-based merchants, and in 2003 processed 7 billion electronic transactions overall, making it the largest payments processor in the country with a 10% share of sales volume on bank cards. At the point of sale, it claims its NetConnect service can slash transaction times on a dial-up connection from 10 to 15 seconds to three, using retailers' digital-subscriber line (DSL) or other IP links. “Adding support for Paymentech is important in expanding our product's reach,” Bill Pittman, president of TPI, said in a statement. “Because TPI Software is a neutral software platform, an important benefit we offer is allowing merchants to select which payment processor meets their business needs.” Among the services covered by TPI's certification with NetConnect are: *Support for terminal-based and host-based electronic draft capture authorization and settlement for retail, direct marketing, and e-commerce industries;
* On-line credit card sale, authorization only, prior sale, return, void, Visa partial authorization reversal (direct marketing and e-commerce only);
* Off-line debit card sale, refund, voids with reversals;
* On-line PIN-based debit card sale, sale with cash back, return using DUKPT;
* On-line EBT food stamp sale, sale with cash back, return, balance inquiry.
