Transaction Processing

The Transaction Processing Team of ThoughtFocus currently provides development and support services to more than 10 enterprise-level installations of transaction processing suite of applications. These installations are highly customized to their unique set of business processes.

The installations include acquiring banks, issuing banks, merchant service providers, large retailers (front end acquiring) and loyalty, and pre-paid and gift card programs. Our team's expertise in the transaction processing space includes:

• Industry-standard message protocols such as ISO 8583, Visa 1, Visa 2, and other proprietary protocols.
  
• Transaction switching for On-Us and Off-Us transactions for acquirers and issuers.
  
• Transaction interfaces to payment networks (Visa, MasterCard, AMEX, JCB, and DISCOVER).
  
• Transaction interfaces to payment processors like BAMS, First Data, Elavon, Authorize.net, etc.
  
• Stand-in or local authorization of transactions.
  
• Fraud management solutions with velocity checking, hot card management, etc.
  
• Data security solutions to meet PCI DSS requirements.
  
• VisaNet and Banknet business enhancements.
  
• Settlement applications for payment networks and processors.
  
• Split tender transactions for pre-paid cards.
  
• High-availability system architecture for non-stop operation.
  

Our PCI Research and Development Team has embarked on several initiatives in this space too. Some of the ones on our drawing board are:

• Development of a scalable and customizable framework for a loyalty, gift card, and pre-paid card programs.
  
• Load balancing solutions for transaction switch.