Enabling a North American Merchant Acquirer to Provide Full Processing

Project Brief

Our client is a Merchant Acquirer that processes Credit, Debit, and Check Clearing transactions from a variety of terminals. They acquire the transactions of about 24,000 merchants, of which 14,000 belong to a global car rental service provider, and authorize approximately 30 million transactions a year, of which 80% are MasterCard and Visa.

They needed to create a web-based software application that would quickly and accurately illustrate the potential return of their various insurance products, thus enabling their sales people to have access to real-time information, while sitting next to the customer. CIT in less than six months - designed, developed, and implemented an insurance policy illustration system for the insurance company.

CIT Role

	The prime contractor who delivered to the Client a complete solution, which manages and processes all POS transactions (Credit, Debit, and Check transactions) from online processing, through clearing, to settlement with the merchant, based on the clearing system outcome.
	Implementing and integrating the total solution's components (including business analysis, technical architecture, technical implementation, and business consultancy).
	Managing the integration of the various components within the full solution.
	Handling all the required customizations to meet the client's special environment.

Benefits to Client

	Dramatically lowering the processing cost, by being able to process independently from the third party interchange service provider.
	Expanding the client's offering to their customers of improved and new services.
	Becoming future-proof by having the infrastructure to support future needs (i.e.: mCommerce, EMV, etc.)