Company Objective

SystemPay International provides its clients with the most innovative and secure end-to-end electronic payment processing solutions. SystemPay's proprietary technology combines nearly 20 years of electronic payment processing experience with the most innovative software and hardware solutions to ensure the highest level of data security, flexibility, and reliability.

Over the last ten years, rapid technological advances and the Internet revolution led to the exponential increase in electronic transactions all over the world. The same trends led to the increase in cybercrime and electronic data breaches. Lax security standards enabled criminals to easily steal and use confidential information from payment card transactions and processing systems. According to Privacy Rights Clearinghouse, (http://www.privacyrights.org/ar/ChronDataBreaches.htm#Total), more than 346 million records with sensitive information have been breached since January 2005 in the US alone. The cost of payment security breaches can be catastrophic to all parties involved in the electronic payment chain: banks, issuers, processors, merchants, and card associations. The U.S. National Archives & Records Administration reports 50% of businesses that lose their critical data for 10 days or more have to file for bankruptcy immediately.

The Payment Card Industry Security Standards Council (PCI SSC) was launched on September 7, 2006 to manage the ongoing evolution of the Payment Card Industry (PCI) security standards with focus on improving payment security throughout the transaction process.

The Payment Card Industry Data Security Standard (PCI DSS) is a set of requirements designed to ensure that all companies that process, store or transmit credit card information maintain a secure environment. PCI security standards are technical and operational requirements set by the PCI SSC to protect cardholder data. The standards apply to all organizations that store, process or transmit cardholder data – with guidance for software developers and manufacturers of applications and devices used in those transactions. The Council is responsible for managing the security standards, while compliance with the PCI set of standards is enforced by the founding members of the Council, American Express, Discover Financial Services, JCB International, MasterCard Worldwide, and Visa Inc.

PCI DSS is a rapidly evolving standard. In September 2006, the PCI standard was updated to version 1.1 from version 1.0. Version 1.2 was released on October 1, 2008. In August 2009 the PCI SSC announced the move from version 1.2 to version 1.2.1 for the purpose of making corrections designed to create more clarity and consistency among the standards and supporting documents. We expect that the pace of PCI evolution will continue to increase in the future.

Many banks and other institutions that process and store electronic payment data are faced with a number of question related to PCI DSS compliance:

  • How do we achieve compliance within the short time-frame requirement given our legacy software and hardware?
  • Do we scrap what we have and build a new system? How do we operate while we are building? Will the new system work and how much will it cost?
  • What costs would we have to incur If our legacy system is breached?
  • What penalties would we have to pay to Visa and MasterCard if we do not achieve compliance? Will we be able to continue to process payments in the future?
  • What would it cost me to maintain compliance in the future?

SystemPay International, develops PCI DSS solutions for our clients to answer these and many other questions by offering a fully compliant turn-key payment processing network encompassing the following:

  • Building and maintain a secure network
  • Protecting cardholder data
  • Implement strong access control
  • Regularly monitoring and testing networks
  • Developing an information security policy

In addition to PCI DSS compliant network, SystemPay International, provides its clients with a fully integrated end-to-end electronic payment software solutions including:

  • Credit card processing
  • Debit card processing
  • Virtual terminal and other real-time on-line services
  • On-line merchant applications
  • Automatic Clearing House (ACH) processing
  • Automated wire transfer system
  • Recurring billing
  • Closed loop issuing networks (including gift and loyalty card networks)
  • Electronic Benefit Transfer (EBT)
  • Risk and credit management

Our entire suite of products can be deployed in a short time-frame and is designed to exceed the current security standards. We will continue to provide our clients with periodic updates in the future to ensure that they stay at the forefront of data security and payment processing technology.

By providing a complete, end-to-end, closed-loop payment processing system, SystemPay brings the benefits of what used to occupy many disparate systems into one solution. We incorporate the latest security technology with a flexible user interface and a standardized Application Programming Interface (API) to provide our clients with:

  • Enhanced data security
  • Increased processing speeds and customized transaction reporting
  • Dedicated client services
  • Decreased risk exposure
  • Lower costs
  • Strengthened process reliability
  • Reduced potential points of failure

We look forward to the opportunity to further discuss and demonstrate our product capabilities.