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"Ensuring security for your transactions"
Our Secure Transaction Processing product family provides an optimal solution for Electronic Card Payments. Below is a sample of the information flow as the cardholder undergoes a transaction in the system.
Business Events in an Electronic Transaction
Each circle represents a general event in the electronic payment card purchase process. Before any of these events occur, the issuing bank solicits and qualifies the cardholder. Each of these eight events, signified in this diagram as B1, B2,…B8, is required to complete the funding for an electronic payment card purchase:
Key objectives for new Healthcare transaction processing systems include:
(B1) Card holder initiates a purchase from a merchant.
(B2) Merchant's IP-based Point-of-Sale (POS) terminal adds Secure Socket Layer (SSL) protocol encryption and forwards the transaction to the merchant's acquiring bank.
(B3) Merchant's acquiring bank authenticates the transaction and forwards it to the card's interchange network.
(B4) Card's interchange network submits the authenticated transaction to the issuing bank.
(B5) Issuing bank subtracts an interchange fee.
(B6) Issuing bank transfers funds for the transaction to the merchant's acquiring bank.
(B7) Acquiring bank settles (typically within one business day) with the merchant.
(B8) Cardholder reimburses the issuing bank for purchases.

This series of business events reveals the first level of complexity inherent in a network processing electronic payment card transactions. Typically, merchants work with Independent Sales Organizations (ISOs) combined with merchant service providers to procure and operate the network needed to integrate the merchant's sales systems and the acquiring bank's application host servers.

Several acquiring banks and issuing banks hire third party processors (TPP) to provide Internet service connection and/or operate the core networks required to interface with merchant service providers, and a card interchange network. Some of these banks also entrust their TPP with the responsibility of handling application host servers or front-end servers for application hosts.

As the electronic payment card (EPC) transaction industry continues to evolve from dial-in access and dedicated networks to Internet protocol (IP) access and multi-use networks, applications supporting business solutions in this industry continue to mature.

For an acquiring bank or for a third party processor working with an acquiring bank, the AccessGuard 500™ system simplifies the network design, deployment, operation, and maintenance by providing SSL Processing, Transaction Processing, Protocol-Based Routing, and Integrated Management and Reporting into a single network component.

To review additional information on how the AccessGuard 500™ system is helping businesses deploy electronic payment card (EPC) transaction networks, review the AccessGuard 500™ system application brief.

Related Documents
» AccessGuard 500™ Application Brief
» Processing IP-Based, Electronic Payment Card Transactions White Paper
» Basics of SSL for Electronic Payment Card Transaction White Paper