Full Scale Payment Solutions for SMB’s Budgets
The increasing popularity and acceptance of debit cards worldwide generates large volume of international transactions. While this trend offers attractive sales opportunity for card issuers, it also presents a significant challenge for small and mid-size card issuers to convert overseas transactions in real time and track card balances in the issuers’ home currencies.
M2 Systems is a leading provider of payment processing solutions for small and mid-size financial institutions. Its payment solution provides customers the flexibility to outsource and access payment processing on a hosted platform. One of Its major products includes an integrated prepaid debit card solution which supports transactions on major payment networks such as VISA, MASTERCARD, STAR and others.
Global Transaction Processing Capability with Integrated Currency Rates
Large financial institutions invest heavily in IT infrastructure to build multi-currency payment solution in house. However, small financial institutions usually do not have the budgets or resources to build full scale payment solutions on their own.
M2 Systems deployed Xignite’s currency web service in its debit card payment platform for the significant cost advantage Xignite offers. Xignite offers currency rates on-demand, and the flexibility to pay only for the data you use. Furthermore, Xignite offers accurate, real-time exchange rates for 170 currencies, providing M2 Systems truly global currency conversion capability.
With integrated real-time currency web service, M2 Systems’ customers can easily convert international debit card transactions into home currencies on the fly and track available balances on the card. The fully integrated solution offers small to mid-size card issuers the processing capabilities of full scale payment solution of global financial institutions at a fraction of the costs.
About M2 Systems
In 2001, M2 Systems expanded into the payment processing solutions business. It has developed a fully integrated transaction processing environment designed specifically for financial institutions that issue domestic and international cards and acquire card transactions through merchants at retail locations, on the web or from ATM's. M2 Systems currently serves financial institutions in the U.S., Europe, Central and Latin America. For more information, visit http://www.m2-global.com.