Oasis Signs Agreement with IBM to Bring E-Payment Solutions To IBM Transaction Processing Facility.
Technology, Including Access to E-Payment Transaction Processing Channels
TORONTO, Dec. 8 /PRNewswire/ -- Oasis Technology Ltd. announced today that it has signed an agreement with IBM to integrate Oasis' leading line of Internet-enabled e-payment products with IBM's Transaction Processing Facility (TPF) operating system and transaction processing environment. The result will be the first commercially available e-payment solutions for the TPF platform.
TPF is an S/390-based transaction processing system that was originally developed for use in airline passenger reservation systems. The system is noted for its rock solid availability, high performance and ability to process extremely large transaction volumes. To date, TPF has had relatively limited use in the financial services industry, having been adopted mainly by large institutions that could afford to develop their own e-payment solutions in-house based on the TPF system.
The relationship between Oasis and IBM paves the way for broader usage of both TPF and Oasis' e-payment solutions by providing financial institutions, retailers, transportation companies, credit card processors and others with an affordable, open alternative for electronically processing payment transactions on TPF applications. The new solutions will combine the flexibility and openness of Oasis' e-payment solutions with the proven 24x7 capabilities of TPF.
IBM S/390 customers will be able to leverage their existing investment in mainframe systems while driving next-generation e-payment solutions. The flexibility and openness of Oasis' e-payment products also will provide customers with unprecedented flexibility in their information systems. Because Oasis' e-payment solutions will run on multiple operating systems, firms can use a combination of underlying operating systems and platforms to meet their needs, without having to alter their e-payment solutions.
"We're combining Oasis' open, feature-rich e-payment solutions with the high-volume, high-reliability characteristics of the TPF operating system to deliver to our customers the best attributes of both-all at a very competitive price point," said Roger Rogers, manager of business development for TPF. "We see this relationship as a way for IBM and Oasis customers to compete in high-growth markets such as ATM, credit and debit card processing."
"By combining TPF with Oasis' recognized e-payment solutions, we're giving customers an ideal opportunity to further exploit their mainframe technology. At the same time, we're opening the door for them to process transactions from emerging channels such as smart cards and the Internet," said Matt Elson, vice president, US channel sales, for Oasis Technology. "Today's announcement is extremely good news for financial institutions using mainframe technology that need to keep pace with the growth of the Internet and other e-commerce payment channels."
IBM worked with Oasis to develop the first TPF-based e-payment solutions for several reasons. Technically, both Oasis' e-payment solutions and TPF are "process-oriented." That is, each transaction runs independently of every other transaction being processed. Should one transaction encounter an error, only that transaction is affected. This approach boosts reliability and decreases errors while benefiting from the high processing speeds of TPF.
Oasis IST/Foundation and IST/Switch are expected to be the first Oasis products available for TPF, followed by the other applications in Oasis' e-payment product line. The TPF-based solutions are expected to be available in the year 2000.
The agreement broadens an existing relationship between IBM and Oasis. At present, Oasis and IBM are in a non-exclusive cooperative marketing agreement. Under the terms of this agreement, Oasis and IBM will collaborate to promote the use of Oasis's e-payment and EFT/POS products on IBM's UNIX AIX operating system. Once the port to TPF is complete, the two companies will jointly market the resulting e-payment solutions.
Oasis Technology is a member of IBM's worldwide PartnerWorld for Developers program which is designed to help commercial software developers reach broader markets, lower their costs of doing business, and take their products to market faster. The program is focused on leading-edge technologies that enable developers to deliver complete e-business solutions to their customers. For more information on PartnerWorld for Developers or to join the program, visit: http://www.developer.ibm.com
About Oasis Technology Ltd.
Oasis Technology Ltd. delivers leading e-payment software products to Internet and brick-and-mortar banks, e-tailers, retailers, card associations, and third-party processors in more than 70 countries worldwide. Today, e-payment systems powered by Oasis software process almost four billion annual transactions. Oasis e-payment software products are designed for end-to-end payment processing and drive every major payment channel -- the Internet, ATM, POS, and telephone. The company's international client base includes ABN Amro, American Express, The Bank of Montreal, Citibank, Credicard Brazil, Diners, Europay, Golden Card (China), MasterCard and Visa. With corporate headquarters located in Toronto, Ontario, Canada, the company also operates offices in Kuala Lumpur, Malaysia; Miami, Florida and California and supports an extensive network of international distributors and sales representatives. Visit Oasis online at www.oasis-technology.com.
AIX is a trademark or registered trademark of International Business Machines Corporation. All other trademarks or registered trademarks are the property of their respective owners.
Contact: Matt Elson of Oasis Technology Ltd., email@example.com; or Lisa Valentine of The Stephenson Group, 518-583-0982, firstname.lastname@example.org