Systech and EchoSat Announce Satellite-Based IP Payment Solution.Business Editors/High-Tech Writers SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. & LEXINGTON, Ky.--(BUSINESS WIRE)--March 15, 2004 Merchants Leverage Satellite Investments to Increase Speed and Lower Transaction Costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). Systech Corp., San Diego, an industry leader in the design and manufacture of Internet Payment Gateways for electronic transaction markets, today announced an alliance with EchoSat to deploy Systech Internet Payment Gateways to convert dial-up payment transactions to faster, IP-based transactions over EchoSat satellite networks. Under the agreement, EchoSat will re-market Systech dial to IP conversion gateways to EchoSat merchants as part of a turnkey solution. Systech Internet Payment Gateways convert dial-up payment transactions to high-speed IP transactions. The gateways connect POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale payment terminals, POS payment controllers and ATMs to the EchoSat network. The EchoSat network transports the transactions to the EchoSat HUB, and then forwards them via a secure Internet connection to the merchant's payment processor of choice. The Systech/EchoSat IP transactions adhere to adhere to verb 1. follow, keep, maintain, respect, observe, be true, fulfil, obey, heed, keep to, abide by, be loyal, mind, be constant, be faithful 2. industry-standard SSL (Secure Sockets Layer) The leading security protocol on the Internet. Developed by Netscape, SSL is widely used to do two things: to validate the identity of a Web site and to create an encrypted connection for sending credit card and other personal data. encryption specifications. Merchants benefit from both higher-speed transactions and recurring cost savings from eliminating dedicated dial-up telephone lines. "Systech gateways allow our customers to more rapidly process payment transactions, benefit from lower transaction rates and simultaneously lower their telephony costs," said Lee Rutherford, 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 EchoSat. "The payback is clear, and the excitement is high. EchoSat's customers can benefit from a total communications solution, featuring very fast, secure payment transactions, a private, managed WAN, along with high-speed Internet See broadband. access. Systech's solid-state routing and connectivity solution, and their partnership positions with leading payment processors allows us to expand our value proposition to include new, low-cost electronic payment solutions." "The seamless mix of satellite and Internet transports offered by EchoSat is a powerful combination," said John Stafford John Stafford may refer to:
Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. (ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. ) with a simple, fixed-price, nationwide broadband IP solution. This can be very attractive for large merchants whose alternatives include an impossibly complex menu of broadband and dial service offerings ... often requiring multiple vendors, each with geographic limitations falling short of the merchant's reach." About EchoSat EchoSat Communications Group provides turnkey satellite solutions designed and implemented for ease of operation, efficient use of personnel and equipment, speed of communications and cost effectiveness. EchoSat specialists assist major merchants in satellite, terrestrial and wireless technologies, systems integration, field logistics, and 24 x 7 network monitoring and operations. EchoSat leverages advanced systems technology into tailored business solutions, becoming involved in the vision and goal of each client served. Additional information can be found at www.echosat.com. About Systech Corp. Systech Corp. is an industry leader in the design and manufacture of Internet Payment Gateways for electronic transaction markets. Systech's 21-year history includes innovative hardware and software technology solutions for point of sale, industrial and commercial markets. Over 200,000 Systech networking devices facilitate mission critical applications worldwide. Additional information can be found at www.systech.com. |
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