Location
8th Floor North Tower
2000 Avenue of the Stars, Los Angeles, CA 90067
Contact Information
P: 310-273-6000 | F: 310-273-6006
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 Traxcom secure transaction processing solutions to provide a high degree of security to ensure data confidentiality and safety, and improve the efficiency of operations.
TMC 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 offer PCI (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.
About Skyview Capital LLC
Skyview Capital LLC is a private investment firm headquartered in Los Angeles, California, which specializes in the acquisition and management of “mission critical” enterprises in the areas of technology, telecommunications, business services and niche manufacturing. By leveraging its operational capabilities and financial acumen, Skyview systematically enhances the long‐term sustainable value of the businesses it acquires.
To date, Skyview has successfully completed nearly 20 transactions within its target market verticals and was recently recognized by Los Angeles Business Journal as one of the top 25 Los Angeles‐based private equity firms.
2000 Avenue of the Stars | Suite 810N | Los Angeles, CA 90067
P: 310-273-6000 | F: 310-273-6006 | info@skyviewcapital.com
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