New Era Requiring New Generation Solutions

Because of the unprecedented growth in electronic payments worldwide, today’s banks and payments processors and systems operators face pressures from regulators, corporations, consumers and shareholders to be compliant, to continually improve their payment systems and the technology they employ to provide more cost effective solutions, thereby providing better value proposition to their customers.

The Answer to New Era Requirements

M^Dynamics’ cost effective and versatile Multi-Channel Financial & Payment Switch, which consists of solutions such as DynamicSwitch, DynamicPOS, DynamicATM and DynamicWeb, delivers a feature rich retail EFT platform that supports high volume, high availability processing through a massively scalable distributed architecture. The solutions can be readily and easily set up and utilized individually or cohesively, depending on the requirements of the enterprise or financial institution.

M^Dynamics Switch provides complete end-to-end transaction life cycle management, which includes front-end acquiring, authorization/routing, back-end switching, settlement reporting and reconciliation functions. With its agility, M^Dynamics can be easily extended to enrich the functionalities of the Switch from time to time.

M^Dynamics Switch is highly secured. It is PA-DSS validated and alleviates the efforts of Payment Service Providers in getting their systems PCI-compliant. The Switch supports both PIN and non-PIN credit, debit and chip card transactions. For PIN-based transactions, the Switch guarantees that the PIN will never be in the clear throughout the flight of the transaction by using Hardware Security Module (HSM) functions for all key management and PIN-related functions. The Switch also supports both card-present and card-not-present transaction processing.

Front-End Acquiring

M^Dynamics Switch acquires transactions from various channels, including ISO8583-based EFTPOS devices, ATM devices running multi-vendor or proprietary software, Third Party Web application, Web Services, XML-based external processors, card schemes, ISO8583-based Bank Host, etc.

Like most EFT solutions, M^Dynamics supports common transaction sets such as Purchase, Refund, CashBack, Cash Withdrawal, Balance Inquiry, intra and inter Bank Transfer, Settlement, Batch Upload, Session Key Management, etc. The distinguishing strength of M^Dynamics Switch is how its versatility makes it so easy to add new transaction types such as Store Value Card or Pre-paid Card Top-Up and customize existing ones to adapt to almost every unique requirement of the business.

M^Dynamics can be easily extended to support other devices and host processors that use different message formats by using the Transformation Mapper which eliminates drawn-out configurations of new formats and field mapping. M^Dynamics Switch uses profiles extensively to ease the configuration of a large number of ATM and EFTPOS devices in the network.

Authorization/Routing

M^Dynamics Switch offers a common integrated authorization engine that raises the security against card fraud by providing blacklist check on card, account and user; usage check by card or user; balance check by account; and PIN or password authentication. With the Transaction/Process Flow Builder, it can be easily enriched or extended to cater to any specific or unique processing as required by enterprises. With the Flow Analyst, enterprises will be able to quickly understand their existing processing flow in detail to facilitate changes to the system.

Supporting these authorization functions is a comprehensive and flexible set of content-based routing capabilities, including routing to external processor hosts, card schemes and other external networks based on any entity type including card prefix, account prefix and corporation types.

Back-end Authorizers/Issuers

M^Dynamics Switch supports interfacing with back-end ISO8583 (1987 to 2003 variants) and XML-based Bank Hosts, card schemes, other Interchanges, and external processors which may be using proprietary message formats. M^Dynamics also supports multi-pass transaction (single transaction which requires interfacing with more than one external party), thus facilitating collaboration with external entities.

When back end hosts are not available, the Switch will provide Stand-In authorization with store-and-forward processing for completions and reversals.

Settlement and Reconciliation Functions

Apart from the modules that handle OLTP,  M^Dynamics also provides a set of reporting tools to support Settlement and Reconciliation with other external parties.