'The system performance is good, authorisation is rapid and there have been no problems with the handling of settlement files. Useful statistics reports are produced, allowing 'drill down' and provision of audit trail. Overall, the solution has more than fulfilled current business requirements and offers a sound base for future developments' - HBOS
Solve-Payment is the first of a new generation of ground-breaking products from The Logic Group. Fast and reliable, the new settlement engine exploits the latest Java™ technology to produce a flexible solution with exceptional performance that ensures all transactions are effectively and securely packaged into a payment file. Only when the settlement process is successfully completed are funds actually transferred from a financial institution to the merchant.
| Settlement Solution Benefits |
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The Solve-Payment engine processes transaction log records that have been marked for settlement by Solve/SE. It can process several transaction logs within the same run. Thus, transactions within logs generated by different Solve/SE systems can be processed into the same settlement file. The payment engine operates as a batch process and can be initiated automatically at set times of the day to submit settlement files, although this is normally run at the end of each trading day. |
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Solve-PFG (Payment File Generator) is The Logic Group’s classic settlement product. Launched in 1993, it quickly established itself as the benchmark for processing payment card transaction files. Solve-Payment is the product we now recommend in most new installations, with Solve-PFG recommended for certain specialised implementations. Although Solve-Payment and Solve-PFG both provide similar settlement capabilities, Solve-Payment is not a direct replacement for Solve-PFG.
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