Payment system - Tandem
"Tandem" payment processing system is a set of software and hardware payment solutions for the processing organization; its primary function is to accept cash and wire payments in favor of various companies and service providers.
The base of acquiring network payment system is payment terminals, where payment method is cash. Acquiring network can be expanded by involving other devices, and organizations working in the banking or financial services, such as ATM networks, and other processing companies, mobile operators and so forth. Easy to use protocols are provided for connecting to the system (due to widespread use of technology), which can be easily realized.
The payment system solution is organized in a way that allows the connection of terminals and other devices of third parties to companies-agents. The agents are provided with simple, easy to use and fully functional web-interface that allows controlling operations of the terminal in real-time, get detailed information about operations performed by the terminals and receive various reports and statistical information. After a brief training, agents will be able to set up terminals by themselves, connect to the system and complete service tasks easily, minimizing the participation of specialist involvement.
The payment system solution allows implementing various schemes of work with agents, such as presence or absence of the security deposit account, flexible configuration mechanisms of commissions, etc.
Extensive settings system allows to have different types of configurations for terminals and agents, and, when necessary, limit the range of services provided by a specific agent or a specific terminal.
Modular Payment system Architecture makes it easy to connect it to the billing system companies, aggregators, and / or service providers, constantly expanding the scope of services. In addition to online solutions, the system also supports the «in-house» solution for provider companies that do not have direct interfaces to billing systems. In this case, the database of services and debts of the provider can be located on the «Tandem» system servers, and info about the payment will be sent to the provider periodically (e.g. each day).
Due to the presence of acquiring interface which allows not only connection to terminals, but also other processing solutions, the payment system allows access to the full range of payment services, and accepts a variety of options for the payment, including cash, bank cards and electronic money.
A difference from other similar payment systems is the fact that the terminals do not return change; customers can keep all the money to the penny, by transferring them to a virtual account. It's attractive for the customer; on the other hand, it's a guarantee that the client will use the service system at least once again.
The system includes many protection mechanisms against failures in the terminal, caused by connection problems or other malfunctions. These mechanisms allow continuous operation of terminals and in most cases guarantee protection from the calculation errors, the confusion with the calculation of financial assets and other contingencies.
Tags: Payment system, Payment solution, Processing system.