IP Commerce and Financial Industry Leaders to Provide Secure Financial Software Services for Small Businesses.BOSTON -- Partners Will Promote the Delivery of Payments as a Secure Service Payments as a Secure Service was designed to further commerce over the Internet via software which runs under Windows Vista. It was developed by the PASS Consortium, a group of leading financial institutions and payment service providers, to enable small businesses the ability to (PASS) to Small Businesses Through Microsoft Windows See Windows. (operating system) Microsoft Windows - Microsoft's proprietary window system and user interface software released in 1985 to run on top of MS-DOS. Widely criticised for being too slow (hence "Windoze", "Microsloth Windows") on the machines available then. Vista IP Commerce, Inc., a software company enabling new open payments services between businesses, today with several financial industry leaders announced a partnership to create and deploy a software infrastructure which will enable small businesses to complete financial transactions as secure services from a desktop PC. The goal of PASS(TM) (Payments as a Secure Service) is to enable small businesses using Windows Vista The current version of Windows for the desktop. It was released in late 2006 for businesses and early 2007 for consumers. Vista adds numerous features, including improved security and advanced multimedia capabilities. to perform secure financial transactions over the Internet, creating new revenue models and payment abilities for thousands of small businesses throughout the U.S. IP Commerce has worked closely with Microsoft to bring PASS to fruition. Introduced this morning at the Microsoft Worldwide Partner Conference in Boston, PASS Consortium founding members include the following organizations: Financial Service Providers: --BankServ: leading provider of Fedwire, SWIFT and TurboSwift, ACH and Check 21 solutions for banks, governments and businesses. --Chase Paymentech: nation's largest financial transaction processor for businesses accepting payments via traditional point of sale, hospitality, Internet, catalog and recurring billing. --CIT Group, Inc. (NYSE NYSE See: New York Stock Exchange : CIT n. 1. A citizen; an inhabitant of a city; a pert townsman; - used contemptuously. Which past endurance sting the tender cit. - Emerson. ): leading commercial and consumer finance company and the number one Small Business Administration (SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government ) lender. --Internet Commerce Corporation (Nasdaq: ICCA (Independent Computer Consultants Association, St. Louis, MO, www.icca.org) A membership organization of independent consultants in the information technology field. It is devoted to helping members improve their professional services capabilities. ): leader in business-to-business e-commerce solutions. --PayPal: the world's trusted way to pay and get paid online. PayPal enables individuals and businesses with an e-mail address See Internet address. e-mail address - electronic mail address in 55 countries and regions to send and receive payments online securely and easily using a bank account, credit card, buyer credit or stored balance. --Pay by Touch Payment Solutions: global leader of biometric authentication See biometrics. , loyalty, membership and payment solutions. Combining the core expertise of each member organization with the growing relevance of software delivered as a service, the PASS Consortium will focus on presenting a more secure, holistic software solution that facilitates on-demand access to financial management and payments services directly through Microsoft's forthcoming operating system operating system (OS) Software that controls the operation of a computer, directs the input and output of data, keeps track of files, and controls the processing of computer programs. , Windows Vista. "Small- and medium-sized businesses are hamstrung by dedicated relationships that have been defined by technology such as hardware and their associated legacy payment processing methods," said Chip Kahn, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of IP Commerce. "Microsoft Windows Vista and other new software technologies delivered as secure services offer businesses and their trusted providers new revenue opportunities and efficiencies." Currently, small businesses interface with credit card companies and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. firms in the financial ecosystem through highly proprietary relationships based on one-to-one technology connections. PASS redefines this relationship by enabling Independent Software Vendors, System Integrators and Value-Added Resellers to create service-oriented financial management solutions in software applications fulfilled by best-in-class providers through a single service provisioning system. "Every business engages in accounting and financial management, most widely recognized as accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying and accounts payable," said Dave Wascha, director of Windows Vista Product Management at Microsoft Corp. "With the launch of Windows Vista and through the work of the PASS Consortium, we're delighted to see that IP Commerce will be marrying everyday accounting duties within the workflow where they exist, providing businesses with more secure, comprehensive financial management and payments solutions from a central location on the desktop." IP Commerce initiated the creation of the PASS Consortium to promote the benefits of secure and efficient open financial transactions. The PASS Consortium will create several tangible benefits for small businesses, including the ability to receive payments, process transactions, pay invoices, obtain financial services and better manage cash, all from a Windows Vista-powered PC. These and other processes will be fully supported through any bank, credit card company or supplier working with members of the PASS Consortium. In addition, all the functionality provided through member organization offerings will be fully integrated with small business accounting systems, essentially integrating the traditionally disparate world of the cash register and the back office. The PASS Consortium is enabled by leveraging IP Commerce's IP Payments Framework(TM) (IPPF IPPF International Planned Parenthood Federation IPPF Independent Power Producers Forum (Hong Kong) IPPF Infrastructure Project Preparation Facility IPPF International Penal and Penitentiary Foundation ) within Windows Vista. IPPF provides an SOA-based framework for the financial industry that can be utilized to host payments networks, as well as toolkits to connect services, devices and applications to multiple financial management services. IPPF breaks down traditional barriers by connecting banks, financial service providers, businesses, software vendors and resellers, and offers the opportunity to engage the market with innovative software offerings targeting each of these groups. The PASS Consortium makes optimal use of new features in Windows Vista, including the operating system's enhanced security features and the ability to discover PASS Consortium offerings using its new integrated search capabilities. The services are expected to be fully implemented by the Windows Vista launch in early 2007. Qualified technology vendors and industry organizations interested in joining the PASS Consortium may contact Christine Stevenson at IP Commerce at cstevenson@ipcommerce.com or by calling 720-377-3700. About IP Commerce Based in Denver, Colorado, IP Commerce, Inc. is a software company enabling open payments that allow banks and service providers to deliver payment services seamlessly to any business. The company's IP Payments Framework(TM) (IPPF) provides an SOA-based infrastructure for the payments industry that can be utilized to host payments networks, as well as free toolkits to connect services, devices and applications to open payments. IPPF breaks down traditional barriers and connects banks, payment service providers, businesses, and software ecosystem participants together. For more information, visit www.ipcommerce.com. About BankServ Since its inception in 1996, BankServ has been dedicated to developing new technology to move money quickly and safely over electronic networks. BankServ is a leading global provider of secure Fed wire transfer, SWIFT, Check 21 and ACH payment solutions for banks, governments and businesses. From a single location in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , BankServ has become one of the fastest-growing companies in America. In 2003 and 2004, BankServ was listed in the Inc. 500 fastest-growing private companies in the U.S. and in the Deloitte and Touche Fast 500 as one of the fastest-growing public or private technology companies. More information about privately held BankServ can be found at www.bankserv.com. About Chase Paymentech Solutions Chase Paymentech Solutions, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , headquartered in Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. , is the nation's largest financial transaction processor for businesses accepting payments via traditional point of sale, hospitality, Internet, catalog and recurring billing. The integrated companies processed approximately 15.5 billion transactions in 2005, with more than $560 billion in annual bankcard and debit volume in both the United States and Canada. Chase Paymentech Solutions' customer base includes more than 600,000 merchants with nearly 1 million locations across the United States and Canada, including many of the top brands. Chase Paymentech is a joint venture between JPMorgan Chase & Co. and First Data Corp. For more information, visit www.paymentech.net. About CIT CIT Group Inc. (NYSE: CIT), a leading commercial and consumer finance company, provides clients with financing and leasing products and advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal . Founded in 1908, CIT has more than $65 billion in managed assets and possesses the financial resources, industry expertise and product knowledge to serve the needs of clients across approximately 30 industries worldwide. CIT, a Fortune 500 company and a member of the S&P 500 Index, holds leading positions in vendor financing Vendor Financing The lending of money by a company to one of its customers so that the customer can buy products from it. By doing this, the company increases its sales even though it is basically buying its own products. , factoring, equipment and transportation financing, Small Business Administration loans, and asset-based lending Asset-Based Lending A business loan secured by collateral (assets). The loan, or line of credit, is secured by inventory, accounts receivable and/or other balance-sheet assets. Also known as "commercial finance" or "asset-based financing". . With its global headquarters in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , CIT has more than 6,700 employees in locations throughout North America, Europe, Latin America, and the Pacific Rim. CIT has been the #1 Small Business Administration (SBA) lender for six consecutive years. For more information, visit www.CIT.com. About Internet Commerce Corporation (ICC ICC See: International Chamber of Commerce ) Internet Commerce Corporation (Nasdaq: ICCA), headquartered in Norcross, Georgia, is a leader in providing business-to-business e-commerce solutions. Thousands of customers rely on ICC's comprehensive line of solutions, in-depth expertise, and unmatched customer service to help balance cost, fit, and function required to meet unique requirements for trading partner compliance, coordination, and collaboration. With its software solutions, network services, hosted web applications, managed services, and consulting services, ICC is the trusted provider of e-commerce solutions for businesses, regardless of size and level of technical sophistication so·phis·ti·cate v. so·phis·ti·cat·ed, so·phis·ti·cat·ing, so·phis·ti·cates v.tr. 1. To cause to become less natural, especially to make less naive and more worldly. 2. , to connect them with their trading communities. For more information, visit www.icc.net. About Pay By Touch(TM) Pay By Touch is the global leader of biometric authentication, personalized rewards, and payment solutions. The company's patented biometric products and services enable shoppers to conveniently and securely access personal accounts using a finger scan to identify themselves, make purchases, cash checks, and earn rewards. Pay By Touch also provides robust payment processing solutions for ACH (electronic checking), card-present and card-not-present debit and credit transactions. To date, Pay By Touch services over 154,000 retail clients, manages personalized rewards programs for more than 130 million opt-in consumers, and has more than 2.5 million shoppers using biometric authentication products and services at 2,000+ locations coast to coast. Founded in 2002, Pay By Touch is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. headquartered in San Francisco that employs more than 600 professionals and holds more than 50 U.S.-issued patents. For additional company information, visit www.paybytouch.com. The names of actual companies and products mentioned herein may be the trademarks of their respective owners. |
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