NETS, Singapore’s largest payment distribution and financial transaction processing services company, Selects NewNet Solution

Posted on: July 13th, 2012 by NewNet

Singapore based NETS upgrades to NewNet’s high density Total Control 1000 system for delivery of secure payment services
Arlington Heights, IL — July. 13 , 2012

NewNet Communication Technologies announced today that NETS (Network for Electronic Transfers Singapore), Singapore’s largest payment, distribution and financial transaction processing services company, selected NewNet’s industry leading TraxcomSecure Total Control 1000 secure payment gateway platform for the expansion and upgrade of its payments transaction processing network. NewNet Communication Technologies is a recognized leader in secure transaction processing, mobile multimedia content delivery and wireless network infrastructure solutions.

NETS is Singapore’s largest merchant acquirer and has the largest terminal base in the country. Worldwide adoption of e-commerce and m-commerce payments is fully under way and the Asia region is at the forefront of this growth. JP Morgan has predicted that the Asian retail e-commerce market excluding travel will double from about US$156 billion in 2010 to US$323 billion by 2013. The Singapore online shopping market size is set to explode from about Sg$1.1 billion in 2010 to Sg$4.4 billion by 2015. NETS has selected and deployed the NewNet Total Control 1000 dial gateway solution to address the increased network capacity needs.

“We are delighted to be a key component in the growth of the NETS network,” said Mary Lynch, Director of Marketing and Sales Alignment “According to a Yankee group report some of the most enthusiastic adopters of e-commerce and m-commerce are in Asia, with the market projected to grow over 70% and over 69% of the respondents indicated that they favored the use of a mobile phone for payment transactions. This kind of an innovative early adoption environment is where NewNet excels, because our solution delivers the highest standards of availability, reliability, security and performance necessary to drive the rapid use of advanced payment transaction services. The selection of our solution by NETS is a validation of our ability to help our customers evolve their service offerings to keep pace with their growth and capacity needs.”

The NewNet Total Control 1000 Trax 2.5 system offers a market-leading solution for dial-based carrier class transaction network services to service providers, merchant acquirers and payment processors. The recently enhanced payments platform provides specialized software to enable faster transaction processing of credit card and debit card authorizations, fund transfers, and health and other electronic benefits transfers. The high-density TC1000 platform speeds transaction times with features such as Fast Connect, and supports transaction protocols such as VISA I/II, ISO 8583, TPDU and several custom protocols.

The NewNet AccessGuard 1000 platform provides the required end-to-end security features for mobile and broadband payment transaction processing, including SSL acceleration and offloading, digital certificates, and state-of-the-art DUKPT powered encryption and decryption. Secure connectivity to host processor systems is provided using IPsec. The AccessGuard portfolio of products supports a broad variety of industry standards and vendor-proprietary payment protocols, including Visa I/II, ISO 8583 and TPDU, enabling interoperability between client protocols and host processor protocols. Innovative applications and services such as mobile wallet, Smart Cash and mobile money transfers can be delivered using the AccessGuard platforms.

 

About NewNet Communication Technologies, LLC
NewNet Communication Technologies, LLC, is a leading provider of innovative solutions for next generation mobile and fixed line networks. NewNet enables global telecom operators and equipment manufacturers to rapidly develop and deploy cutting edge, revenue-generating applications that deliver feature-rich, value added services. Recognized as a trusted leader in the carrier applications market for over 20 years, NewNet has been synonymous with telecom product excellence and development expertise. The company is committed to providing unparalleled service to its customers. With installations in major carrier networks in over 70 countries, NewNet’s product offerings include: The WiMAX end to end wireless broadband product portfolio; TraxcomSecure electronic transaction processing solutions, which deliver services such as mobile payments, e-banking, and e-commerce; Mercury, the industry’s most complete purpose-built, mobile multimedia content delivery platform; and the Total Control PDSN platform, which provides economic delivery of premium mobile data services in CDMA networks. Other products include Distributed7, the world’s first standards-based signalling platform, and a short message service center (SMSC), which has been deployed in more than 200 wireless networks worldwide. The company is headquartered in the USA, with sales and support teams located around the world. NewNet is a wholly owned portfolio company of Los Angeles based private investment firm Skyview Capital LLC., Skyview Capital specializes in the acquisition and strategic management of mission-critical, industry-leading businesses in services and technology.

For more information, visit:
www.newnet.com
www.skyviewcapital.com

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