Open worlds of commerce with open architecture
The financial industry is ripe for change, and is eager to shed the heavy overhead – hard costs and technical commitment – associated with one-to-one, proprietary integrations to introduce a single commerce service such as credit card processing. The future of the financial industry is reliant on a new way to meet customer needs more quickly and at less cost.
IP Commerce is the first open commerce platform based on service-oriented architecture (SOA) standards to offer on-demand access to the next generation of commerce services. Because of its inherently open architecture, the IP Commerce Platform, and its Toolkits, significantly reduce the cost and time associated with new service integrations and certifications. Through this technology, IP Commerce is positively altering the market dynamics of the siloed world of payments and financial services, lowering costs of technology implementation and opening up a vast array of services that were previously unavailable or prohibitively expensive.
Application Service Classes Supported on the IP Commerce Platform
- Bankcard Processing
- Remote Check Deposit Capture
- Automated Clearing House (ACH)
- Email Invoicing
- Gift/Loyalty Card Transactions
The IP Commerce Platform delivers on the promise of write once and provide to many using a standard-based language for commerce that is both transaction messaging specification and a framework for applying service orientation to commerce service consumption. This technology provides the syntactic, pragmatic, semantic, and business process interoperability required to power an open commerce platform. It is altering the current point-to-point closed orientation of the industry and creating a many-to-many, open world of commerce.
IP Commerce Platform Details and Features:
- Merchant Portfolios – Channel owners can manage merchants in a more ideal way by allowing the user to group merchants. Then, as data is populated, transaction summary data can be viewed on the portfolio level. This provides for scalability as the number of merchants increases for each channel.
- Merchant Management ADK – Users can now update Platform data directly from an internal system using Web Services (i.e. CRM); removing the need for double-entry.
- Pricing and Revenue Assurance – Pricing and reporting enhancements that allow for rating and reconciliation reporting for service provider funds distribution to other partners.
- Support for Commerce Toolkit For Applications Version 1.17 – This release significantly reduces the effort to integrate software applications to the IP Commerce Platform.
- Service Bundle (Management) – This allows a Channel to create a bundle services that are offered to them and then sell that bundle to its merchant base.
No SOA is complete without business process management (BPM). The IP Commerce Platform delivers BPM to IP Commerce partners through partner management and sales life cycle management to allow any software company, service provider or channel to participate in this new, open network of commerce software plus services. Using Web Services, business rules, workflow, and governance, the IP Commerce Platform enables partners to collaborate, cross-sell, and deliver solutions through new or existing distribution channels.
Complementary Technology: