Tandem systems were originally bought by ISACOMM to power a transaction routing service that connected insurance companies with independent insurance agents, an early form of electronic commerce.
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Debit transactions routed through competing networks, which require a personal identification number, or PIN, instead of a signature, cost about 14 to 30 cents on a $ 100 sale.
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But for each individual customer interaction, there are opportunities for a crash-causing error to occur at numerous points along the transaction route, which begins when a customer logs on.
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The company s Intelligent Network Access Controller ( IntelliNAC ) is an intelligent networking device that provides a range of digital and analog interfaces, line and data concentration, protocol conversion, and transaction routing.
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The Treasury Department warned banks Wednesday to be especially careful of financial transactions routed through Antigua and Barbuda, saying that changes in the Caribbean nation's law " threaten to create a haven for money laundering ."
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NPCI, as the BBPCU, will also undertake clearing and settlement activities related to transactions routed through BBPS . Existing bill aggregators and banks are envisaged to work as Operating Units to provide an interoperable bill payment system irrespective of which unit has on-boarded a particular biller.
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