VeriFone Introduces PAYware CMS 8.0

Company: VeriFone Holdings, Inc.
Published: 26 August, 2009
VeriFone Holdings, Inc., today announced PAYware CMS 8.0, a new version of its comprehensive card management enterprise software for banks, financial institutions, processors and retailers who wish to issue cards, accept electronic payments and merchant management.

PAYware CMS enables issuers to easily set up and manage feature-rich card programs for both physical and virtual card payments. For acquirers, PAYware CMS supports individual merchant needs such as acquiring services contracts to accept, authorize and settle card transactions; it also offers multi-merchant support at all levels.

"This update to PAYware CMS complies with the latest PCI DSS requirements and features improved performance and a new intuitive graphical interface which eases usability of every aspect of the system, enhancing productivity and efficiency," said Gustavo Jimenez, vice president and general manager for the Integrated Systems Group of VeriFone Latin America and the Caribbean.

PAYware CMS 8.0 supports all aspects of card and merchant management, payment authorization, clearing and settlement. It can also be used by telcos to issue pre-paid cards and by government agencies to issue and process electronic benefits.

New security features include encryption of sensitive data, PAN masking, and detailed audit tracking of user activity. The software supports all major card association schemes and full EMV compliance for both issuing and acquiring organizations.

The new graphical interface provides an intuitive look and feel with:

* Improved graphical dashboards for more immediate monitoring of authorization processes

* A highly configurable Web-based reporting module that increases access, automation, and flexibility of reporting

PAYware CMS provides the scalability, flexibility and configurability to manage any in-house merchant acquiring or card issuance program including branded card scheme, private label, stored value/loyalty, private label, fleet, and prepaid cards.

It is a flexible, modular and business-driven solution designed to address the main challenges facing the card industry today, which include the importance of innovation, differentiation and customer retention in an increasingly competitive environment.