The Green Sheet Online Edition
December 26, 2011 • Issue 11:12:02
All-in-one payment platform
FrontStream Payments Inc. recently introduced fasttransact, an integrated payment management platform. The enterprise level management system offers plug-and-play convenience, manages multiple payment input channels, and interactively gathers and tracks customer and consumer activity.
Financial data is streamed to core client-side business applications. According to the company, it's the first single-source payment capture and management platform of its kind.
Nina Vellayan, FrontStream President and Chief Executive Officer, said, "The traditional payment processing model requires a merchant to purchase and configure a separate system for accepting electronic transactions and managing deposit data, but it stands alone and is valued only as a necessary business commodity.
"We saw an opportunity to raise the bar and develop a more integrated, enterprise level payment model that would also serve as a valuable business management asset our clients can use to drive growth and enhance the consumer buying experience."
Hosted on FrontStream's Payment Card Industry Data Security Standard-certified network, the platform's framework reportedly touts such virtues as efficient client boarding, fast and secure authorization, payment channel diversity, and compliant data storage.
Each of these core business functions is supported by enterprise-level features that enable clients to plug in and share data with back-end systems, the company said.
"We designed fasttransact with the objective of providing a modular payment management system that configures to a client's unique business needs and also seamlessly integrates with their existing commercial environment," said Bill DeGraff, FrontStream Vice President of Product Management and Strategic Marketing.
DeGraff noted that what sets fasttransact apart is the "seamless configuration between capture methods like web, mobile or point of sale, front-end data input and mining tools, and the back-end data flow that ports to client-side ERP, marketing and business applications. It's truly an all-in-one, end-to-end, single-source solution."
Other benefits of the platform include exclusive administrative tools for personalization, pre-configuration and deployment; host-side scalability; a customizable consumer web interface that enables 24/7 merchant-customer interaction; and secure data sharing with client-defined business management and media applications.
"The rapid global advancement of mobile technologies has challenged our industry's standard way of doing business, yet it has also inspired innovative companies like FrontStream Payments to develop new business systems that can quickly meet the market's needs for payments," Vellayan said.
According to Vellayan, the platform is well backed by equity capital, a reassuring factor for users looking for a long-term solution.
FrontStream Payments Inc.
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