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Redmond, WA, November 13th, 2003 - TPI Software LLC, a leading
provider of payment solutions, is excited to announce the immediate support for
payment processing with Concords EFS Level III line item detail in its Payment
Server platform. The TPI Payment Server enables merchants to securely process
payments in retail, e-commerce, mail order and wireless industries using the
Internet as the primary communication channel resulting in 5-second or less
transaction times. TPI Software also provides a software developer kit (SDK)
that enables third party application developers to easily and seamlessly
integrate this functionality, including line item detail, into their
applications.
Level III data benefits corporations with purchase cards by providing
accountability from card purchases by including full line-item detail in each
statement. Level III data contains product codes, cost and quantity, in
addition to the traditional Level II data (the card number, merchant name and
location, purchase price and sales tax). This line-item detail provides
electronic accountability to major corporations and government agencies that
use purchase cards. Level III data is a priority in government: government
employees are generally encouraged to do business with merchants that pass
Level III data and will be mandated to do so in the future. Level III
merchants/suppliers also enjoy lower processing fees and discount rates from
the card processors.
"Adding support for Concord EFS Level III data is important in expanding our
products reach. Major corporations and government agencies prefer working with
Level III merchants because the line-item detail reduces the need for receiving
reports and other paperwork, and helps monitor the buying practices of purchase
card holders." says Andy Chau, CTO of TPI Software. "Purchase Card Level III
has been slow to take off because most solutions today are non-integrated
requiring merchants to manually enter the data, which is expensive and prone to
errors. Our solution provides an easy way to integrate this line item detail
into business processes, making the inclusion of line item data automatic, thus
reducing costs and eliminating errors. We think this approach will simplify and
accelerate the adoption of Purchase Card transactions with Level III line item
data."
Celent Communications, a leading consulting and research organization dedicated
to the financial services industry, estimates that purchasing card sales could
reach $190 billion by 2006, up from $104 billion this year, for a compound
annual growth rate of more than 22%. Traditionally, companies' purchasing
departments receive purchase requests from employees and initiate the
paper-intensive purchase order process based on those requests. Using corporate
purchase cards, companies can streamline this process, enabling purchasing
departments and company employees to significantly reduce the amount of
paperwork and time spent on transactions. In addition, suppliers will receive
payment faster via the corporate purchase card system than with traditional
purchase order processing methods.
TPI Payment Server has been designed for easy integration and with scalability
to support a broad range of needs from stand-alone merchants, multi-lane retail
outlets, on-line merchants operating their own Web sites to large Internet
Service Providers (ISPs) hosting multiple merchant sites. TPI Payment Server
provides businesses faster transaction processing, seamless updates, lower
cost, cross platform support and enhanced security without the on-going costs
of a gateway.
About TPI Software, LLC
TPI Software LLC, is a privately held corporation based in Redmond, WA, and is
the leading provider of innovative ePayment technologies for processing credit
card, debit/ATM card, EBT, electronic check services (verification, guarantee
& conversion) and electronic signature/receipt & check image capture
and retrieval services. TPI Software developed the TPI Payment Server
technology that supports the major US payment processors as well as integrated
ePayment client solutions that work on any device, at anytime and anyplace. TPI
Software’s technology is an alternative to the stand-alone single-function bank
terminals many businesses currently use to process payments and provides a full
suite of ePayment Web services that can be integrated into Electronic Commerce
environments, MOTO or retail point-of-sale systems. TPI Software has
established long-standing relationships with banks and institutions that help
process electronic payment transactions. TPI Software can be reached through
the Internet at http://www.TPISoft.com/ or by calling (425) 882-0921.
TPI Software is a trademark of TPI Software, LLC.
SmartPayments is a trademark of TPI Software, LLC.
Microsoft Windows is a registered trademark of Microsoft Corporation.
All other trademarks are the property of their respective owners.
TPI Software, LLC
17720 NE 65th Street, Suite 202
Redmond, WA 98052
Contact: Bill Pittman
Phone: 425.882.0921
Fax: 425.696.0057
Email: sales@tpisoft.com
http://www.TPISoft.com/
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