MOTO Switch (Mail Order/Telephone Order)
The BGS Payment gateway allows acquiring banks to offer merchants with Call/Customer Centers or automated Cash Deposit Machines (CDM) and Kiosks to connect to the local bank EFT switch in order to process VISA/MC transactions online as standard e-commerce transactions without having to change any of its existing acquiring infrastructure already certified for VISA or MasterCard. Commonly merchants seeking such capabilities to offer their products and services via different channels such as internet, call center, CDMs and braches all go through international and national payment card acceptance models.
In such a case they are often forced to integrate their systems with MIG directly which presents both technical challenges as well as high interchange fees which oftentimes leads to foregoing the business model by the merchant and the acquiring bank incapable of offering this type of online payment to its merchant customers due to unfavorable transactions fees.
Our technology supports both the acquiring banks and merchants by breaking the international monopoly, and seamlessly enabling the merchant to integrate and enhance their payment acceptance capabilities at their customer center and cash deposit machines without them having to change their existing messaging and communication technology.
Our payment gateway can connect via any standard messaging protocol using industry standards (e.g. SOAP, XML, Socket, MQ, Web Services and ISO8583) and process the transaction in a standard way as when acquiring transactions of POS connected to the Bank's EFT switch. In essence it constitutes a "plug and play" approach that makes it simple and fast for any merchant to quickly and efficiently connect to the payment networks hassle-free.