Plutus card payment processing solution

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Plutus – a Point-of-Sale credit/debit data capture and authorization software for Windows™ and Linux based PCs and POS systems. Plutus utilizes existing PC equipment and infrastructure to bring credit card processing functionality to the merchant’s Electronic Cash Register.

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Plutus card payment processing solution

  1. 1. 11/19/2010 1
  2. 2. 11/19/2010 2 PLUTUS – an innovative payment solution for Retail Plutus is a Point-of-Sale credit/debit data capture and authorization software for Windows™-based PCs and POS systems. It utilizes existing PC equipment and infrastructure to bring card processing functionality to the Electronic Cash Register. It replicates all functions conventionally provided EDC terminals, as well as additional value-added features. Plutus provides card acceptance for any Visa, Mastercard and American Express debit and credit card. Some of the advantages of Plutus are: Plutus reduces the merchant’s cost of accepting cards Plutus streamlines store operations and accelerates check out Plutus simplifies backend accounting and monitoring operations Plutus provides superior security in card acceptance Plutus provides several value-added features in a single, integrated POS application Plutus is certified by Axis Bank, American Express, ICICI Bank, HDFC Bank, Citi Bank, Global Payments for HSBC Bank. In combination with a PCI compliant Pin Pad, Plutus is also certified for EMV transactions.
  3. 3. 11/19/2010 3 Plutus: How it works • Solution runs on existing PC- based POS • New merchants install Plutus via CD and guided installation interfaces
  4. 4. 11/19/2010 4 Plutus Features Summary • Axis, HDFC, ICICI, HSBC, Citi bank, State Bank of India (SBI) • American Express • PCI-PADSS, • PABP Certified by major Bank Acquirers, and Visa • Credit / Debit • Pin-based (Maestro) • EMV • Mobile • PPC/GV • Contactless • EMI transaction handling Accepts all payment instruments • 3DES data encryption from swipe • User access management • TID licensing and key management • Input device control Best-in-class security features • Plutus Multi-acquirer - route transactions to preferred Acquirer (least costly acquirer) • Plutus Secure - Bank- certified internet connectivity • Transaction Reconciliation - central data warehousing & management Value-added features • Higher security • Flexible connectivity – Internet, CDMA, GPRS, VSAT, VPN • Integrated with Biller - No manual entry (Amount) • Touch Screen enabled • Batch reporting • Supports split transactions Only PC-based product - replaces EDC • Card readers - MagTek, AMDL, Verifone, Ingenico • Bar code scanners • PED • Smart Card reader • Printers - OPOS, Windows Integrated with leading POS peripherals
  5. 5. 11/19/2010 5 Key value drivers of Plutus - At A Glance • Replace EDC terminals • Eliminate dial-up charge for cr/dr transactions, and landline charges for each EDC terminal • Switch to always-on, high speed internet processing • Remove counter clutter • Streamline operations at the POS • Reduce need for cashier training • Automate data entry by integrating Biller and cr/dr payment transaction • Eliminate cashier manual data entry, and increase transaction speed • Centralize transaction routing • Eliminate cashier decision-making • Extract favorable MSF terms from Acquirers for high transaction volumes • Change routing rules (Acquirer strategy) centrally at the touch of a button - no retraining of cashiers required • Transaction warehousing and management • Digitize & automate reconciliation of POS settlement and Acquirer payment advice • Leverage rich MIS, including Acquirer-level transaction analysis and quarterly audit reports • Centralize POS-level alerts, e.g., unsettled POS • Save cashier time 1 2 3 4
  6. 6. 11/19/2010 6 Advantages of Plutus over EDCs EDC Functionality Plutus Scenario •Every Cashier counter must have EDC •NO need for EDC - Plutus is a software application which can run on any Windows based PC or PC-POS •Every EDC must have PSTN telephone line - Assuming Rs 1 per call, and 2000 transactions per month in each store - Plus Rs 150 for landline rental for each EDC terminal, and 3 EDC terminals per store - => Monthly telco costs are Rs 2650 •NO need for PSTN lines - Plutus can support transaction processing through existing broadband connection •To make transaction secure and acceptable to Visa / Master and AMEX, Plutus comes with PA-DSS approved VPN connection - Rs 150 for Secure VPN Plutus connection for 3 POS = Rs 450 - Plus monthly internet cost of Rs 200 - => Monthly telco costs are Rs 650, a savings of Rs 2000 per store per month •In case of acquiring by multiple banks, multiple EDCs required at every till, resulting in clutter •All acquiring banks are available in single application •Axis Bank, ICICI, HDFC, Citi, HSBC, AMEX 1
  7. 7. 11/19/2010 7 Plutus streamlines operations at the POS 2 EDC Functionality Plutus Scenario •EDC cannot be integrated with biller applications on POS •Intuitive Windows-based interface limits training of cashiers and reduces human error •Can be easily integrated with any biller application, using Windows based COM API •Workflow automation reduces overhead, speeds time to resolution •Cashier manually enters amount in EDC, leading to data entry errors •Transaction Amount is passed by biller directly to Plutus. No data entry possible •EDC dial up is slow, resulting in longer queues •Faster transaction times through automation and faster connectivity reduces queuing time
  8. 8. 11/19/2010 8 Centralized transaction rules for optimized acquiring strategy EDC Functionality Plutus Scenario •Manual decision by cashier to select most optimal acquiring bank (for example, lowest MSF rate) •Plutus selects Acquirer based on rules •Rules are set centrally at HO - not by the cashier, creating real savings on MSF rates •Limited ability to enforce complex rules - based on cashier’s judgment •Complex rules - for example, on-us versus off- us optimization; time-based; default acquiring - can be set using intuitive interfaces •Cashier training is required to route transactions to most suitable acquiring banks •No cashier training required •Rule changes are propagated in real-time in the field 3
  9. 9. 11/19/2010 9 Eliminates Paper-based reconciliation EDC Functionality Plutus Scenario •Each transaction is deleted upon settlement •Transactions can be stored in TRM for whatever period required •Centrally accessible user interfaces render transactions volumes, settlement and reconciliation status and allow users to search by zone, store, POS, transaction, etc. •Settlement is controlled by cashier, and often overlooked - payments are settled late •Central user interfaces show alerts for unsettled batches •Reconciliation between settlement reports and banks’ payment advice is manual and labor intensive •Reconciliation of each batch with bank’s payment advice is automatic •Disputes are flagged and entered into work flow for easy resolution 4
  10. 10. 11/19/2010 10 Plutus Transaction Reconciliation Management - TRM • Settlement not tracked by POS – can’t ensure daily closure • No central aggregation & warehousing of Credit Card transactions • Paper-based, manual reconciliation • Manual dispute resolution workflow • MSF rate not displayed to cashiers, making it difficult to reconcile payment advice • Lack of MIS reports, especially lack of monthly/quarterly closure • No POS-level alerts • Credit Card transactions cannot be searcher/queried easily • Central aggregation of credit card transactions • Facility to upload digital bank Payment Advice file • Unsettled terminal alerts • Automatic bank reconciliation and transaction dispute management • Search & query functionality on central server • Rich MIS • Financial closures • Proactive Alerts for better operational efficiency Challenge Solution Transaction Reconciliation Management Module
  11. 11. 11/19/2010 11 TRM centralized payment advice reconciliation & workflow tools • Centralized reconciliation of settlement and payment advice • Digitization of statements • Integration into automated accounting and dispute resolution workflow 1.Frees up cashier’s time 2.Eliminates manual errors 3.Speeds quarterly audits Transaction Reconciliation Management Module
  12. 12. 11/19/2010 12 Transaction Reconciliation Management Innovation: automation of transaction reporting and reconciliation streamlines your backend operations Payments User permission based access View any batch details / transactions
  13. 13. 11/19/2010 13 Transaction Reconciliation Management Innovation: automation of transaction reporting and reconciliation streamline your backend operations Payments Retrieve and view charge slip on screen And Much more…
  14. 14. 11/19/2010 14 Security: current POS devices & networks are insecure Component Security Concerns POS device •Track data encryption from the point of card swipe Dial-Up connectivity •“Sniffing” - credit card data is transmitted in plain text and can easily be intercepted CDMA, VPN or VSAT networks •No end-to-end security - reliant on retailer LAN to secure data at POS before transmission outside of store Storage •Sensitive data resides in central data, providing hackers with a single point of attack - “jackpot” scenario Business processes •User access poorly controlled, allowing capture of credit card data Plutus Secure Module
  15. 15. 11/19/2010 15 Our Contact Details Sanjeev Sharma sanjeev@singularityretailsolutions.com 91 9818596889 http://www. singularityretailsolutions.com We would be more than happy to demonstrate the solution and offer a FREE trial

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