The new era of transaction switching
With the increasing number of payment channels and methods, the complexity of transaction switching software is ever growing. Aspects like reliability, performance, low latency, resilience and security have become qualifiers rather than differentiators. The most important differentiation for a modern transaction switch is its ability to respond to ever changing requirements and new payment channels....Read More
21st century Payments-Why evolution is just not good enough!
The history of payment system products since the 1980s is one of gradual evolution. There have been few radical changes. Instead, products saw incremental enhancement over time, with many products all built on core code that was written in the 1980s and 1990s. Products like BASE24, Postilion, BASE24-eps and OPEN/2 all exhibit much the same behaviors at application level, with the di?erentiation between them based on operating system support and delivery model. They are all predicated on the 1980s/90s model of transaction processing – that is 1 pair of symmetric messages containing an entire request & response with the complete processing rules de?ned in advance, mostly as source code with a few con?gurable parameters. The history of evolution has shown that only the fittest survives. For most, evolution ends in extinction. There are two theoretical causes for extinction....Read More