Johannesburg, 15 Oct 2015
Software AG (Frankfurt TecDAX: SOW) today announced that PayCommerce has selected SAG's Digital Business Platform to expand its world-class cross-border payments network.
The leading global payments provider now offers its customers faster and more secure payment solutions: business-to-business (B2B), business-to-consumer (B2C), consumer-to-business (C2B) and global disbursements and collections.
Abdul Naushad, CEO and founder, PayCommerce, said: "The PayCommerce Network enables the only open cross-border electronic payments network by connecting global financial institutions with corporates and regional payment systems on a single platform. Software AG provides us with a solid and secure integration platform from which to work. Most importantly, the platform provides capabilities for improving international B2B, B2C and C2B transactions from initiation to settlement processing, compliance screening, reconciliation and reporting. Our payment solutions enable our customers to streamline their payment processes by helping them manage financial risks, reduce costs by up to 80%, and improve their treasury functions."
Eric Duffaut, Chief Customer Officer and Member of the Management Board, Software AG, said: "PayCommerce's growth story is amazing. With leading customers from Fortune 100 companies and top global financial institutions, PayCommerce is providing sustained innovation throughout an intelligent payment industry ecosystem. We are proud to contribute to their outstanding success with our Digital Business Platform."
Software AG's Digital Business Platform is a services-oriented, event-driven and API-capable development environment with many ready-to-use application services, including webMethods and Apama Big Data streaming analytics. webMethods supports the development of integration and process services and connects all of PayCommerce's applications and systems, while Apama enables PayCommerce analysts to monitor, analyse, and act on fraudulent or abnormal behaviour before any harm is done.
Naushad added: "PayCommerce provides an enterprise payment hub and global network that enables cross-border payments to and from 72 countries, transacting in 80+ currencies. At PayCommerce, we have created an open payment network with more than 80 correspondent and merchant acquiring banks and regional alternate payment networks, which integrate our payment hub platform using Software AG's Digital Business Platform. PayCommerce continues to drive innovation in the payments space and is well-positioned to compete and support our enterprise clients on a global scale. Our customers use our robust payment platform to interact with our global banking network, providing payment collections and disbursement capabilities across the globe."
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