CONAVI Selects Trintech Technology for Industry First Debit Card Application for Web-Based Electronic Bill Presentment.NEW YORK--(BUSINESS WIRE)--April 27, 1999-- Trintech, the world's leading provider of secure electronic payment solutions, announced today that Corporacion Nacional de Ahorro y Vivienda (CONAVI) is launching its bill presentment and payment See EBPP. service based on Trintech's secure transaction-enabling technology. The implementation is one of the first times debit cards have been used for Internet payment transactions anywhere in the world. CONAVI debit cardholders now enjoy the convenience of paying their bills ranging from water to telephone on the Internet. The new service allows Colombia-based CONAVI to reduce costs associated with bill payment processing through any of its 300 branches by up to 80 percent. Billing companies using CONAVI's service benefit from a streamlined presentment and payment process that cuts costs and simplifies bill paying for consumers. Trintech security and payment-processing technologies, including PayWare(tm), NetWallet(tm) and PayGate(tm), provide the foundation for CONAVI's innovative bill presentment and payment service. "It is very clear to CONAVI that there is great market potential in providing secure electronic commerce and Internet-based bill payment and presentment services," said Dr. Carlos Mario Toro Toro may refer to:
Companies using CONAVI's bill presentment and payment solution streamline the entire payment process. Cardholders' transactions are secured with Trintech's NetWallet based on the SET protocol. The companies process cardholder card·hold·er n. One who holds a card, especially a credit card. card  hold payments using Trintech's PayWare. Payment details are then securely passed to the bank where Trintech's PayGate resides. The lead integrator on the CONAVI project was Microsoft (Nasdaq:MSFT MSFT Microsoft (stock symbol)MSFT Movimento Sociale Fiamma Tricolore (Italy) MSFT Multi-Stage Fitness Test MSFT Master of Science in Family Therapy MSFT Macalester Students for Fair Trade ), through its Colombia-based partner Techmarketing. "CONAVI's bill presentment and payment solution links billing companies with consumers to make the payment process faster, simpler, cleaner and more economical for everyone," said Fanny Sierra, Microsoft Internet customer unit manager in Colombia. "Microsoft technology is helping and supporting CONAVI in its permanent effort to establish new standards on the Internet and the whole financial sector -- it is an innovative, flexible and comprehensive service unlike any other available today." "CONAVI clearly leads the market in providing electronic billing Electronic billing is the electronic delivery and presentation of financial statements, bills, invoices, and related information sent by a company to its customers. Electronic billing is also referred to as the following:
Transaction processing systems are the backbone of an organization because they update constantly. and powerful security attained through Trintech products unequivocally gives CONAVI the competitive advantage needed in today's marketplace." About CONAVI CONAVI is a Savings and Loans savings and loan n. a banking and lending institution, chartered either by a state or the Federal government. Savings and loans only make loans secured by real property from deposits, upon which they pay interest slightly higher than that paid by most banks. Corporation whose financial and technological services are customer-oriented. It was founded in October 1972 by a group of entrepreneurs and companies from Medellin, Colombia. CONAVI established its first office in April 1974 and from that moment CONAVI has been a leader promoting financial technological development in Colombia. It has a large network of branches (221) and Automatic Teller Machines (440), CONAVI is also a member of the major Financial Networks in Colombia: Red Multicolor, Redeban, Servibanca and ATH for a total of 2,280+ Automatic Teller Machines available nationwide and all the Master Card -- Maestro ATMs worldwide. Its high technological development has allowed it to reach the operational level of 4,628,000 transactions per month on average through its network of branches and 3,445,000 /month in its ATMs (measured as of March 1998). At present, CONAVI processes 72% of all its transactions via non-traditional channels such as POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale , ATMs and Internet. About Trintech Founded in 1986, Trintech is the world's leading provider of payment software for electronic transactions. The company is co-headquartered in Silicon Valley, Calif. and in Dublin, Ireland, the software capital of Europe. The company offers a complete range of payment software products for credit, debit, commercial and procurement card applications, as well as leading the world in the deployment of payment solutions for Internet commerce that are fully SSL- and SET-compliant. Trintech's range of scalable open systems architecture solutions for UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). (r) and Windows NT (Windows New Technology) A 32-bit operating system from Microsoft for Intel x86 CPUs. NT is the core technology in Windows 2000 and Windows XP (see Windows). Available in separate client and server versions, it includes built-in networking and preemptive multitasking. platforms covers consumer, merchant and financial institution requirements for physical payments and the burgeoning world of electronic commerce. Trintech has headquarters in Campbell, CA at 2105 South Bascom Avenue, Campbell, CA 95008, USA (Tel: 408/879-1884). Trintech can be reached on the Web at http://www.trintech.com. |
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