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Our approach combines the benefits of flexible, phased implementation, minimal new hardware, and rapid, low cost customizing.

Designed for mid-sized merchants with medium (10,000-500,000 per annum) transaction volumes and multiple locations.

Designed for major enterprises with high (100,000-10,000,000 per annum) transaction volumes and multiple locations.

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206-389-9919

 

Member of The Electronic Transactions Association

 

White Paper by Ed Streit

I have spent my entire career in the Information Technology industry, and for the past 10 years have specialized in electronic payment processing systems. Our industry is changing rapidly, and like most technology companies, we spend a lot of time trying to determine which changes are important. In the past 12-24 months, three important trends have emerged affecting all merchants using electronic payments:

• More transactions - processing volumes are increasing, and most types of electronic payments are exhibiting double-digit growth.

• More ways to pay - credit and debit cards are the mainstays, but newer payment methods such as stored value "prepaid" cards are becoming popular with consumers.

• More types of items being paid for - consumers want to pay for a greater diversity of purchases using electronic payments, for example utility bills, drivers licenses, and income taxes.

The result of these trends is that electronic payments are "intruding" into the merchant organization from a number of different directions. Not only are there multiple ways to pay, there are also multiple ways in which payments reach the organization. The natural tendency is to respond to these "intrusions" piecemeal, as they occur. By following this tendency, however, there are predictable results:

• Fragmented processing methods for handling electronic payments.

• Gradual loss of control and ability to reconcile payments between different business systems.

• Magnification of problems caused by increasing volumes of payments.

Impact on Power Credit product design. These are the core issues we are addressing with the Power Credit family of products. Our mission is delivering proven solutions that process 100% of a merchant's electronic payment transactions - regardless of payment method or how it reaches the merchant. Our product philosophy can be summed up as follows:

• Unified, strategic approach to electronic payments

• Re-establish centralized control

• Deliver a framework that will handle a diversity of payment methods

We want to provide uniform methods for processing today's payments, while positioning our customers to handle future technology changes. There are new payment methods on the horizon - and when their time comes, we intend to include them - thus maximizing value for merchants using our systems, plus delivering the payment convenience their customers want.

Ed Streit is President of Software Packaging Inc., makers of Power Credit. He holds a Master's Degree in Computer Sciences from University of California at Berkeley, and has held technical and management positions at Lawrence Radiation Labs, US Navy Pacific Missile Range, University of Toronto, University of Washington, and CitiCorp. For the past ten years Mr. Streit has specialized in electronic payment systems design and development, and is principal architect of the Power Credit system..