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Mosaic Software Introduces Additional Fraud Security for
eCommerce Transaction Processing
London, 26 March 2002 - Mosaic Software, leading provider
of Electronic Fund Transfer (EFT), Prepay and web-enabled
ATM software has announced the general availability of
Postilion Integrated Payments for eCommerce (PIPE), a
fast track solution to address the requirements of
merchants and commerce service providers (CSP’s) in the
Postilion PIPE is designed specifically to handle all the
processing requirements for Internet eCommerce and Mail
Order Telephone Order (MOTO) transactions. PIPE provides
for real time authorisation and secure transaction
processing when the card and card holder are not
physically present. Payments initiated by credit cards,
debit cards or cheques are supported.
Due to the greater opportunity for fraud, the card-not-
present market has more stringent requirements for
transaction processing than card present transactions.
Due to these requirements which are intended to protect
all parties from fraud Postilion PIPE implements security
at the network level by providing secure channels for
data transfer using Secure Socket Layers (SSL). In
addition, at the EFT level, card authentication through
the use of card verification values (CVV2) and address
verification services (AVS) is also provided.
“The Postilion Integrated Payments for eCommerce solution
is the most scalable solution today in the MOTO credit
card market, and can handle up to 720,000 transactions
per hour. Merchants and CSP’s, both small and large,
will be pleased with the competitive nature of our
investment structure. 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” stated Nigel Bidmead, Managing Director
Europe/Middle East, Mosaic Software.
An added benefit of the Postilion Integrated Payments for
eCommerce solution is that it integrates fully with
emerging technologies (including WAP-enabled mobile
phones, the Internet and digital TV), providing a true
multi-channel payment solution.
About Mosaic Software
Mosaic Software is a leading-edge provider of EFT
software for consumer-generated electronic transactions.
Our solutions drive operations in more than 30 countries
in North America, Latin America and the Caribbean,
Europe, the Middle East, the Asia-Pacific region and
Africa. The company has a strong global presence with
offices in the USA, UK, Australia and South Africa.
These offices support clients that include financial
institutions, retailers, telecommunications operators,
transaction processors, Internet service providers, card
issuers, and data processing service providers.
Mosaic Software was founded in 1994 with 8 employees.
Today we have more than 200 staff members on 5
continents, and the company is considered to be the
market leader for Web-enabled ATM and prepay software
solutions. Held by strategic partners GE Equity and
Comparex Holdings, and Mosaic management and staff, the
company is positioned for rapid and profitable growth.
Mosaic's family of products, named Postilion, is a
comprehensive software solution designed to effectively
handle the transaction delivery and authorization
requirements of every aspect of the EFT arena.
Worldwide, Postilion is used for ATM
Processing/Monitoring, EFT Switching and Routing, Point- of-Sale (POS), Credit/Debit Card Processing,
Internet/Call Center Payment Authorizations, Prepayment,
Internet/Home Banking and Mobile Commerce applications.
Mosaic Software’s European clients include Retail
Decisions (ReD), Transaction Network Services, Royal Sun
Alliance, GE, and Ashburn UAB.
For more information, please visit Mosaic Software