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FinTUG/VNUG 13 November 2007 @ Silja Serenade
Secure real-time multi channel electronic payment service with NonStop
By Ari Viitanen
2Copyright© 2007 Rahaxi Processing Oy. All rights reserved.
Electronic card payments and role of Rahaxi
Card owners like banks and credit card companies define their own credit/debit cards that today are smart cards with chip (EMV).
Card payment terminal vendors manufacture EMV payment terminals, which are capable of verifying the card and pin code and create a payment transaction record. Known vendors are for example Hypercom, Thyron, Spectra. In order to be usable the terminal also need an application supporting the merchant sales transaction following local regulations (set by local Banker’s association).
Banks offer verification and acquiring of payment transactions and manage risks. The operation and services are local country by country. In practice banks acquire card payments only with their own cards.
International credit card companies use specialized local companies offering verification, acquiring and forwarding of payment transactions and manage risks, for example CEKAB and Luottokunta.
Card payment processors like Rahaxi provide merchants with payment terminals, applications to the terminals, connection to the processors host that routes the payment transactions to the banks and acquirers who then pays the money to the merchants
3Copyright© 2007 Rahaxi Processing Oy. All rights reserved.
Electronic card payment standards and regulations
International credit card companies Visa and Mastercard have defined the EMV standard for smart cards (chip on card). In addition the local Banker’s Association gives additional local requirements. Today every card payment terminal, and payment application has to be certified for each market.
The PCI-standard (Payment Card Industry) and PCI DSS (Data Securtiy Standard) are international payment card standards supported by the international credit card companies, thy direct the handling of payment card handling for parties involved. The certification has to be validated annually. The standard is also evolving, for example this week a new addition PCI PA-DSS has been introduced.
The EU Commission has recently created the SEPA standard (Single European Payment Area) and the European Payments Council (EPC) administers an supervises the standard. All cards will now gradually be made according to the SEPA standard. Existing EMV card payment terminals already manage to read SEPA cards. In the coming years this will change the card payment business.
4Copyright© 2007 Rahaxi Processing Oy. All rights reserved.
Established and owned by FreeStar Technology Corporation (NASDAQ company) from 2002
The group of companies operates globally with activities in over 20 countries and is strongest in Europe with the Rahaxi brand and offices in Dublin, Helsinki and Stockholm
We offer merchants payment processing who benefits from lower investment and operating costs, higher availability and better payment application maintenance and customer services
European customers are served with a payment platform located in Finland. The platform is HP NonStop mainframe maintained by TietoEnator and runs ACI Base24 payment application
Rahaxi is certified for Payment Card Industry Data Security Standard (PCI DSS) starting from December 2006
Our partners include VISA, MasterCard, Amex, Diners, JCP, Luottokunta, CEKAB, Euroline and local banks
Rahaxi has over 1000 customers and is growing, last fiscal year revenue was +91% compared to previous year
Rahaxi Processing
5Copyright© 2007 Rahaxi Processing Oy. All rights reserved.
RAHAXI PAYMENT SYSTEM
Local Banks
BankFeedback
Merchant HP NONSTOP Card owners
ON - LINEON - LINE
MerchantsBank account
MerchantsBank account
1
2
4
5
6
RAHAXIBATCHING
RahaxiFeedback
Report+
Bank ref
Transactions+
Bank Reference
3
CEKAB
Rahaxi applicationEMV kernelDrivers
Rahaxi applicationEMV kernelDrivers
6Copyright© 2007 Rahaxi Processing Oy. All rights reserved.
Rahaxi applications for merchants
Dynamic currency conversion
VAT Refund
Loyalty cards
Gasoline cards supporting extra verification of car data
Taxi, reading data from taxi meter
Public transport payment card and additional services
7Copyright© 2007 Rahaxi Processing Oy. All rights reserved.
HP NONSTOP HIGHLIGHTS
Very suitable for transaction processing
Excellent for database intensive applications
Enabling required availability and beyond for payment services
Fault tolerant
HP maintenance with SLA
Enabling superior scalability to support load from increased customer base
Linear performance increase when adding HW
No application changes or clustering required from application
Active HP sales and support for business development activities globally
Excellent User group co-operation & events
8Copyright© 2007 Rahaxi Processing Oy. All rights reserved.
Questions & Answers
More at:
Email address: [email protected] Pages : www.rahaxi.com