BARRON McCANN SETS OUT PAYMENTS VISION WITH INTRODUCTION OF NEW INTEGRATED PAYMENTS SOLUTION
Leading payment systems technology specialist Barron McCann has today outlined its vision for the future of the financial payments industry with the unveiling of its brand new real-time payments processing solution, PayGate.
The first genuine ‘new technology’ payments system to appear on the market for many years, PayGate stakes a claim as the most modern, comprehensive, flexible and efficient payments solution available on the market today. Designed to appeal to a range of users - from small business financial controllers to corporate treasury departments and financial institutions, PayGate will offer large-scale ‘payment factory’ capabilities and performance, but at prices significantly lower than traditional solutions – bringing ‘institution level’ capability and high performance within reach of many more finance departments.
Barron McCann’s PayGate has been designed from the ground up to support a variety of both existing and emerging submission infrastructures, transaction types and payment instruments. PayGate can enable payments for SWIFT and Faster Payments, together with a range of BACS Credit, BACS Debit and credit card payment systems – as well as being ready to accommodate emerging payment networks.
“We feel that PayGate is the payment system that any organisation making and receiving electronic payments has been waiting for,” commented Barron McCann Managing Director, Peter Alderson. “As the market moves towards the incorporation of a significantly wider range of payment types into everyday business, the need for a single, intelligent payment solution which can access a variety of different payment schemes while allowing treasurers to keep a close, real-time eye on their financial position is becoming greater than ever. Needless to say, the business benefits to an organisation’s treasury function for a single payment gateway to replace a myriad of individual payment schemes will be significant,” he added.
Designed to integrate andoperate within an organisation’s existing IT infrastructure, PayGate is ‘format-independent’, so can accept data of multiple input and collection formats – in bulk or otherwise. PayGate will then convert the data into the correct format for that payment scheme, whether SEPA, Faster Payments, SWIFT or others. Any - as yet unspecified - future payment standards can simply be added to PayGate once ratified, meaning that PayGate’s capabilities will ensure customers obtain the most benefit from the available payment execution services.
PayGate’s workflow engine allows users to incorporate their own preferred financial processes and Business Rules into the system. The business rule facilities allow users to establish their own range of ‘corporate action’ procedures relating to payment terms and values, via a series of ‘decision-based’ processes. PayGate’s API (application programmer’s interface) allows organisations to seamlessly integrate PayGate with their own preferred web tools, ERP system, CRM, and P2P custom financial applications.
“Currently, the payment solutions marketplace is characterised by a variety of long-established offerings, none of which have been specifically designed to cater for both contemporary and future payment technologies,” added Barron McCann Payments Business Manager, John Doyle. “PayGate represents a new breed of payment solution which reflects the needs of organisations today, while incorporating a series of state-of-the-art technologies which will anticipate their needs for tomorrow as well.”
About Barron McCann Technology
Barron McCann Technology has a 20-year track record in information security, IT services and secure payment systems. The company’s product and service offerings include X-Kryptor, a market-leading dynamic VPN product range offering Government-approved, high level security facilities; PayGate, a secure payment solution; Validate, a secure transaction validation system; e-Post, an electronic document exchange system and Secure Data Services – a portfolio of services providing a complete solution to the secure management and destruction of optical, magnetic and printed data up to and including HM Government ‘Top Secret’ (IL6) level.
Barron McCann Technology Ltd is based at Bemac House, Fifth Avenue, Letchworth, Herts, SG6 2HF. For further information, please visit www.bemac.com.
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