Archive for July, 2013

NewNet Communication Technologies Traxcom Products Ensure Security in Transaction Processes

Posted on: July 27th, 2013 by NewNet

 

By Rachel Ramsey, TMCnet Web Editor

 

The proliferation of mobile devices has led to improved app development, features and capabilities. Think about how many different things you can accomplish from your smartphone or tablet alone – using GPS, sharing via social media, checking e-mail and making banking transactions or purchasing something online are not impossible feats. In fact, a recent U.S. Federal Reserve study found nearly 21 percent of mobile phone users have used mobile banking in the past year, and a Juniper Research (News–Alert) report predicts mobile commerce transactions to exceed $3.2 trillion by 2017. The rise in payment transactions means mobile device and network providers need to be prepared to offer high levels of security, safety and data confidentiality.

NewNet (News – Alert) Communications, a provider of solutions for next-generation mobile, fixed line networks, messaging and transaction processing, offers Traxcomsecure transaction processing solutions to provide a high degree of security to ensure data confidentiality and safety, and improve the efficiency of operations.

TMC (News – Alert) recently caught up with NewNet’s T.K. Cheung, SVP and GM of Secure Transaction Processing Division, to discuss the solutions, how they help set NewNet apart in the industry from competitors, what prompted NewNet to offerPCI (News – Alert) compliance with Traxcom and what’s in store for NewNet in the future.

The Traxcom solutions have facilitated secure, high-speed payments transaction aggregation from millions of POS/ATM/payment terminals and switching and routing of these transactions with high security to backend Financial Authorization Servers for more than 24 years. They target a variety of customers, including transaction acquirers, payment processors, banks, retailers, financial institutions, payment service providers, payment aggregators, transaction network service providers, fixed and mobile telecommunication network providers, Independent Sales Organizations (ISOs).

“We deliver secure payment transaction routing services for the legacy Dial POS terminals, now popular broadband and mobile payment terminals and fast emerging mobile smart POS and NFC Mobile Wallet transactions,” Cheung explained.

The Traxcom product portfolio includes the Total Control Secure Transaction Gateway (STG) Dial Payment processing system, which delivers a specialized suite that enables fast transaction processing of credit card authorizations, debit card fund transfers and health benefit authorizations, and AccessGuard 1000 Mobile and Broadband IP Payment Processing gateways, which are designed to process high volumes of IP-based authorization and payment queries generated from a “smart card” terminal device, and internet based payment terminal devices.

“Speed, security, stability and system availability are the key requirements of payment transaction systems and these hold the key parameters of NewNet Traxcom products as proven in the industry with our deployments with Tier 1 Acquirers, Processors, Wireline Carriers, MNOs (Mobile Network Operators) etc.,” said Cheung. “Security is the most critical aspect of payment transactions and having been in this business and working with some of the largest Tier 1 Acquirers, processor and carriers globally, we have remained in the forefront of offering most advance security for payment routing solutions with latest cryptographic methodologies.”

“NewNet’s Secure Transactions Business Unit provides mission-critical solutions to allow carriers and financial institutions to securely process electronic payment Transactions globally. As new point of sale (POS) payment platforms arise, there will be increased opportunities for NewNet’s Secure Transactions products and services. We are seeing traction domestically as these new digital payment platforms proliferate and as acquirers and ISOs seek innovative, customer-focused suppliers. We also see enormous growth in demand in emerging markets, which are experiencing rapid increases in credit card penetration and volumes,” said Matt Thompson, SVP corporate development, NewNet Communication Technologies
NewNet has integrated transaction processing, security handling, load balancing and network routing into a single system, thereby enabling customers to avoid the need for separate systems for each of the different functions.

“Our systems enable the customers to offer new payment solutions on emerging client/terminal devices by still connecting to existing authorization servers, thus bridging the future with present day systems,” said Cheung.

Traxcom and PCI Compliance

The Payment Card Industry (PCI) Data Security Standard represents a common set of industry standards to ensure the safe handling of sensitive payment card data information. These standards are founded by global payment brands – American Express, Discover Financial Services, JCB International, MasterCard (News – Alert)Worldwide and Visa Inc. – and have industry-wide participation from the payment industry ecosystem players comprising of banks, acquirers, processors, merchants, system providers, application developers and more. The PCI Security Standard council is responsible for the development, management, education and awareness of the PCI Security Standards, which cover the security requirements associated with multiple aspects of the payment industry.

NewNet serves a major role in the payment ecosystem. NewNet delivers market payment solutions that offer a true understanding of core payment functionalities, technology edge and far sighted vision which attempts to meet the following:

  • Enables the masses to make seamless payment transactions from mobile devices for card and non-card alternative payments
  • Offer integrated solutions for tokenization, data encryption, certificate management solutions for enhanced security of transactions
  • Advance commerce solutions for content streaming to POS devices which are touch points to consumers while in the middle of transaction authorization process
  • Provide innovative payment routing solution that avoids the need to store credit/debit card data or customer information on mobile devices for payment purposes
  • Work with financial institutions to offer payment processing systems that prevents the transfer of sensitive card data across public networks benefiting acquirers, processors, carrier and banks
  • Offer multicurrency and dynamic currency conversion solutions coupled with payment switching and routing
  • Ensure increased revenues for all entities in payment ecosystem by enabling faster, secure and reliable means of payment handling for e-commerce and m-commerce transactions

Putting Traxcom to Use
Point-of-sale (POS) acquirers and processors deploy NewNet’s Traxcom solutions for aggregating dial, broadband/mobile IP POS transaction from the merchant locations, utilize the multiple protocols supported on TC STG and AG1000 systems to handle a variety of transaction types, routes the transactions to the specific hosts depending on the transactions with high speed and security. They also collect transaction session data records for statistics, traffic reporting etc. to enhance their transaction management capabilities.

The solutions empower MNOs or wireline/broadband telcos to derive new sources of revenue and have a major role in the payment ecosystem, including one or more of the several possible services of mobile/broadband/dial transaction acquiring, mobile/broadband/dial POS transaction transport as a VAS and mobile NFC wallet payment transaction routing.

“We have a clear vision for the payment industry for today and tomorrow as we stay ahead of the technology curve and move along the path breaking changes in the areas for new payment options, new devices with advanced service capabilities and security enhancements and strive to bring those benefits in our products to the market as quick as the market can adopt,” Cheung said.

NewNet Communication Technologies Expands Sales Team to Grow Secure Transaction Solutions

Posted on: July 27th, 2013 by NewNet

 

By Rachel Ramsey, TMCnet Web Editor

Every day, the number of features, functions and capabilities on mobile devices continues to expand. One of the most common uses of these mobile devices, whether it’s a smartphone, tablet or laptop, is for financial purposes. Mobile banking, wallets and payments have become prominent-use cases in today’s on-the-go world, which require very secure solutions.

NewNet (News – Alert) Communication Technologies is a provider of mobility technologies focusing on messaging, signaling, wireless broadband, consumer Internet, multimedia content delivery, mobile advertising, secure transactions, interactive voice response (IVR) and mobile real-time charging and rating. The company hired four additional regional sales directors to its global sales team in the past six months in an effort to grow its secure transaction solutions for mobile payments, e-banking, transaction acquirers, payment processing, retailers, educational networks, NFC, mobile wallets and service providers.

“The NewNet Secure Transactions division offers a highly secure IP, dial, and mobile payment transaction switching router utilizing the latest technologies with high-performance dual crypto processors, extensive network management features, CDR analysis and reporting,” said TK Cheung, SVP and general manager, in a statement.
NewNet’s Traxcom AccessGuard portfolio is a suite of secure, high-performance, carrier-grade transaction processing gateway solutions. It enables mobile carriers, payment processors and acquirers, and financial application providers to expand traditional payment transaction services into the mobile universe and deliver new innovative services on smartphones, Bluetooth-enabled devices and apps.

Matt Thompson, NewNet SVP of marketing, said, “We are very excited to supplement our Secure Transactions’ division Regional Sales team. We have compelling products which can uniquely serve the growing needs of telecom and financial services providers in established and emerging markets. NewNet is able to leverage its deep knowledge of financial processing routers to deliver innovative solutions to our customers. The global electronic payments business is evolving rapidly and NewNet is at the forefront.”

NewNet also provides cloud-based voice broadcasting and outbound IVR solutions that offer flexibility in providing high-quality customer service, lower costs and a vehicle for alternative marketing campaigns to gain customer retention. It acquired hosted IVR platform Nimblevox by Interact earlier this year.

NewNet Communication Technologies Expands Global Sales Team to Grow Secure Transaction Router Business

Posted on: July 8th, 2013 by NewNet

 

Arlington Heights, IL July 8, 2013 -­ NewNet Communication Technologies, LLC, a wholly-owned Portfolio Company of Skyview Capital, and a global leader in mobility technologies with a primary focus in messaging, signaling, wireless broadband, consumer Internet, multimedia content delivery, mobile advertising, secure transactions, Interactive Voice Response (IVR), and mobile real-time charging and rating, is pleased to announce the hire of four additional regional Sales Directors to their Global Sales team.

The addition of the Total Control compact IP transaction accelerator and Total Control Gateway to NewNet’s robust secure transaction portfolio provide enhanced transaction processing and security, and currently processes billions of transactions worldwide. TK Cheung, SVP and General Manager, says, “The NewNet Secure Transactions division offers a highly secure IP, dial, and mobile payment transaction switching router utilizing the latest technologies with high-performance dual crypto processors, extensive network management features, CDR analysis and reporting.” NewNet looks to expand their global reach of providing proven secure transaction solutions for Mobile payments, e-banking, transaction acquirers, payment processing, retailers, educational networks, NFC, mobile wallets and service providers. The latest enhancements to NewNet’s secure transaction portfolio provide unparalleled transaction routing, direct forwarding, enhanced encryption, and integrated payments, all on a PCI DSS industry standard security compliant system. Matt Thompson, NewNet SVP of Marketing, says “We are very excited to supplement our Secure Transactions’ division Regional Sales team. We have compelling products which can uniquely serve the growing needs of telecom and financial services providers in established and emerging markets. NewNet is able to leverage its deep knowledge of financial processing routers to deliver innovative solutions to our customers. The global electronic payments business is evolving rapidly and NewNet is at the forefront.”

As part of their global expansion goals, NewNet has added four new Regional Sales Directors to their team over the past 6 months. Edison Lima joined the NewNet team as the Regional Sales Director for Latin America after previous roles at Getnet and Hypercom. Mr. Lima brings over 20 years’ experience in corporate sales specializing in large contracts in the area of transaction processing and means of payment.
Dave Holman joined NewNet as the Regional Sales Director for North America after previous roles as the VP of Sales and Business Development for PayCommerce and EZIC, VP of Sales and Operations at Fast Transact, VP of Sales at Century Payments, and President of Foundation Merchant Services. Mr. Holman brings over 35 years of Sales Management experience at a senior level, and has brokered deals with the World’s two largest IBO companies as well as the largest professional sports brand in the World.

Tony Timpano joined NewNet as the Regional Sales Director for the EMEA region after previous roles at Hypercom and Ingenico. Mr. Timpano brings over 30 years of experience in computing and telecommunication sales and service, providing transaction process systems for fortune 500 companies as well as ISO’s throughout North America and abroad.

David Neo joined NewNet as the Regional Sales Director for APAC after previous roles at Verifone, Hypercom, and Vivotech. Mr. Neo brings over 30 years of experience, along with an extensive background in electronic funds transfer or transaction processing, mobile payments, smart cards, contactless RFID/ NFC payments, debit and credit cards.

“The continued growth of our secure transactions business, along with the addition of our Total Control, and Total Control Gateway solutions demonstrate our unrelenting commitment to excellence, as well as make us an attractive Network Access Control solution for financial services companies, processors, acquirers, and electronic payments companies.” said P.J. Louis, CEO of NewNet. “By adding experienced and highly respected professionals to our Global Sales team, we will remain well-positioned to handle the fast-pace growth we expect throughout 2013 and beyond.”

About NewNet Communication Technologies
NewNet is a recognized leader in mobility technologies with a primary focus in messaging, signaling, wireless broadband, consumer internet, multimedia content delivery, mobile advertising, and secure transaction processing. NewNet Communication Technologies is a part of the Skyview Capital LLC, portfolio of companies. For further information, please visit newnet.com or skyviewcapital.com, or send an inquiry to traxcominfo@newnet.com.

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