Academic journal article ABA Banking Journal

Counting on Vista and "Payments as a Service" Concept to Lure Small Businesses

Academic journal article ABA Banking Journal

Counting on Vista and "Payments as a Service" Concept to Lure Small Businesses

Article excerpt

By now, Vista introductory fanfare has faded and the software as a service (SAAS) concept is also beginning to seem, if not a majority play, then much less of a novelty act. For some, it has become a viable alternative for delivering different vendor applications to end users without hefty infrastructure investments.

Now, payments may benefit from being given "SAAS" treatment, or should we say, PASS treatment? PASS refers to Payments as a Secure Service, which is being delivered by a consortium that includes Chase Paymentech, Bankserv, and Denver-based IP Commerce.

What's been unusual here is the bundling of capabilities that originate from these different vendors, including remote deposit capture, credit card processing, cash management, and financial alerts and other customer service processes. Published online at the PASS Commerce Center, these services can be accessed by small business owners running Microsoft Vista. IP Commerce developed the framework that effectively marries the Vista environment to processing capabilities provided by consortia members. (Members "publish" or "expose" their payment technologies to the IP framework, which allows small business users to "discover" or use the software at the desktop.)

PASS members believe the underserved, small business market will benefit from this newer, leaner access.

"It's early into this project, so I can't say that early adopter activity is overwhelming us," says Dave Kvederis, with Bankserv. "But we're all excited to have gotten in at the ground floor of this application distribution model," says Kvederis, who thinks that bank customers like PNC will view Bankserv and PASS Commerce as a lead for remote capture business. …

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