- PayCommerce
offers customers a faster, more secure, global payment network and hub
- Payment
security increased through real-time fraud detection and risk management
solutions
- Clients
can streamline payment processes, manage risk, reduce cost, and
significantly improve treasury functions
Software AG (Frankfurt TecDAX: SOW) today announced that
PayCommerce, has selected SAG's Digital Business Platform to expand its
world-class cross-border payments network. The leading global payments provider
now offers its customers faster and more secure payment solutions: business-to-business
(B2B), business-to-consumer (B2C), consumer-to-business (C2B) and global
disbursements and collections.
Abdul Naushad, CEO and
founder, PayCommerce said: “The PayCommerce Network enables the only open
cross-border electronic payments network by connecting global financial
institutions with corporates and regional payment systems on a single platform.
Software AG provides us with a solid and secure integration platform from which
to work. Most importantly, the platform provides capabilities for improving
international B2B, B2C and C2B transactions from initiation to settlement
processing, compliance screening, reconciliation and reporting. Our payment
solutions enable our customers to streamline their payment processes by helping
them manage financial risks, reduce costs by up to 80%, and improve their
treasury functions.”
Eric Duffaut, Chief Customer
Officer and Member of the Management Board, Software AG said: “PayCommerce’s
growth story is amazing. With leading customers from Fortune 100 companies and
top global financial institutions, PayCommerce is providing sustained
innovation throughout an intelligent payment industry ecosystem. We are proud
to contribute to their outstanding success with our Digital Business Platform.”
Software AG’s Digital Business
Platform is a service-oriented, event-driven and API-capable development
environment with many ready-to-use application services, including webMethods
and Apama Big Data streaming analytics. webMethods supports the development of
integration and process services and connects all of PayCommerce’s applications
and systems while Apama enables PayCommerce analysts to monitor, analyze, and
act on fraudulent or abnormal behavior before any harm is done.
Mr. Naushad added:
“PayCommerce provides an enterprise payment hub and global network that enables
cross-border payments to and from 72 countries, transacting in 80+ currencies.
At PayCommerce, we have created an open payment network with more than 80
correspondent and merchant acquiring banks and regional alternate payment
networks, which integrate our payment hub platform using Software AG’s Digital
Business Platform. PayCommerce continues to drive innovation in the payments
space and is well-positioned to compete and support our enterprise clients on a
global scale. Our customers use our robust payment platform to interact with
our global banking network, providing payment collections and disbursement
capabilities across the globe."
About PayCommerce
PayCommerce is the
fastest-growing cross-border, open payments network which connects over 80
correspondent banks and acquiring institutions in 72+ countries and enables
payments, collections and settlement in 80+ currencies. PayCommerce is the only
managed, open cross-border payments network that enables both disbursements and
collections transactions through a single point of connectivity for members.
Members include: banks, financial institutions, global corporates and alternate
channel providers. It is an open network where eligible institutions can join
and there are no up-front costs.
Headquartered in
Edison, NJ, the firm has global headquarters in the US and its branches
across 4 continents strategically placed around the globe. Its vision is to
create the largest correspondent bank network that enables faster payments for
disbursements and collections globally. For more information on the company,
please visit our website www.paycommerce.com