Crimson™ Financial Switch
Crimson™ Switch for Financial Switching
The Crimson™ ISO 8583 switch is an Issuing, Acquiring and Switching financial system that enables systems to exchange financial messages securely and in accordance with the ISO 8583 protocol implemented world-wide. The three Crimson™ Use Cases includes the aforementioned Issuer, Acquirer and Switched models.
The Crimson™ Issuer enables a party/company managing funds to receive Acquiring parties’ transaction requests and manage the funds as the Issuing party owning the funds/account.
The Crimson™ Acquirer enables bespoke applications of the ISO 8583 protocol in the financial context where the Acquiring party like a Merchant needs specific implementations around the protocol executed. As the Acquirer, Crimson™ will connect to the Issuing party and request transactability. Hence, Crimson facilitates both models required in the exchange of financial transactions.
Crimson™ as a Switching service enables multiple parties connected to the switch to route their transactions across currencies and message formats enabling the implementation of different ISO 8583 protocols in one instance to effectively execute transactions.
Crimson™ also enables the conversion of currencies in international remittance and the exchange of Settlement messages to online messages and Batch files to ISO 8583 messages as an example.