Translate Message formats in real-time, mid-air.
Crimson™ has the means to translate transactions information from one format to another, in flight, in real-time. The benefit is to both switching parties, having the switch do the hard work, legacy systems do not need to alter their systems and formats to integrate to another party.
Translating between ISO 8583, JSON, XML, SOAP, and other formats can dynamically be mapped in the integration phase, while keeping to the transactional best practice format of ISO 8583 to match expected standards and procedural requirements for transacting.
Debit and Financial Switch
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.
Last Mile Integrations
Crimson™ is readily employed for last mile integrations
Crimson™ is a cost-effective and more agile alternative to last mile integrations to POS with large systems like Postilion. Crimson™ complements Postilion as it seamlessly integrates between Postilion and all POS systems to facilitate financial transactions.
Often times a company has an existing solution, having done the full Postilion journey, and in the diversification strategy needs to roll out to various Points Of Sale in (POS), adding time and cost to the process. PMT™ works with Postilion often and can facilitate this leg of the journey.
Longstanding Switching Success
Tutuka is one of PMT’s oldest Clients, having implemented Crimson™ as a core part of their solution, which is financial switching for Debit and Prepaid Cards. Tutuka uses Crimson™ to switch transactions between Acquirers and Issuers in the Banking, Prepaid, Retail and Corporate environments.
“Crimson™ forms an integral part of our product delivery,” says Shaun Hodgkiss, technical director at Tutuka, a leading provider of prepaid voucher and gift-card solutions in South Africa. Tutuka uses PMT’s Crimson™ software product for switching of its MasterCard gift-card transactions. Shaun explains how they were looking for an enterprise-level financial switch, and Crimson™ was their first choice.
“Without it, we would not have been able to launch our MasterCard gift-card product within tight deadlines,” he says. “We needed a product that had perfect up-time, was simple to use and administer and could interface with a wide range of proprietary interfaces from disparate financial institutions. Crimson™ matched all these criteria.” Asked what he sees as the benefits of Crimson™, Shaun explains how Crimson™ manages to conceal most of the complexities of ISO-8583 transaction switching. “This allows us to focus on our core competencies.” The good working relationship between PMT and Tutuka is evident. “Pattern Matched Technologies™ has made a significant contribution to the success of our technology,” Shaun assures, “and we feel confident that this relationship will only continue to grow.”