Java Payment Network Produces First Joint Product Development
Cambista Technologies Ltd and Generated Systems Technologies, Inc. are jointly developing a high volume payment solution using Java technology. Both firms are part of the Sun Microsystems-sponsored Java Payments Network. Likely to be available in the first quarter 2005, Batch Wire Server will combine Cambista’s newly announced Universal Payment Engine and J2EE iB@nk server with GST’s Payment File Wizard technology to accept high volume, high value payment files in any format, translate the payments for the appropriate payment network and route the payments to a bank’s back office system. GST’s software for NACHA to Fedwire conversion is being extended to include SWIFT and European payment-type translation. The Batch Wire Server is the first product resulting from Sun Microsystems’ strategy to bring software and service companies together with banks to identify key payment software components needed by the financial services industry.