Mosaic enters card-not-present payment market
10 December 2001 | 3425 views | 0
Mosaic Software has launched Postilion Integrated Payments for eCommerce (Pipe), a fast track payment processing solution for card-not-present transactions.
The solution provides real-time authorisation and secure transaction processing for e-commerce payments and mail order telephone order (Moto) payments, when the card and card-holder are not physically present. The system supports payments initiated by credit cards, debit cards and cheques.
Postilion Pipe provides secure channels for data transfer using Secure Socket Layers (SSL). In addition, card authentication through the use of card verification values (CVV2) and address verification services (AVS) is also provided.
Kevin Pannebecker, senior vice president, e-commerce business development, Mosaic Software, claims the solution can handle up to 720,000 transactions per hour. "In addition, our new solution is based on the highly reliable Microsoft Windows 2000 based Postilion platform so it is much easier to support and more flexible when adding additional payment processing capabilities, than existing products available on the market today," he adds.
The online payment solution integrates fully with emerging technologies including WAP-enabled mobile phones, the Internet and digital TV, says Pannebecker.