June 20, 2000
Introducing ASP Technology
Dallas, June 20, 2000 — Shift4 will unveil their latest electronic payment technology, $$$ IN THE BANK NetEnterprise, at this year’s Hospitality Industry Technology Exposition & Conference (HITEC) in Dallas. The HITEC conference updates the world on the fast-paced, ever-changing hospitality industry and is the perfect venue for buyers to get a first hand look at Shift4’s latest payment processing innovations. Shift4 representatives will be demonstrating $$$ IN THE BANK NetEnterprise and NetAudit™ in exposition booth #125.
The Industry’s Challenge
NetEnterprise solves the challenges faced by diverse hospitality enterprises operating in multi-site environments. First among these challenges is the absence of a unified, multi-point payment solution. Until now, the lone option for multi-unit companies has been to implement stand-alone payment systems at each of their sites. System requirements for this type of solution called for individual hardware, software and communications infrastructure to be installed and maintained on a site-by-site, profit-center-by-profit-center basis. Limited back office integration made the prospect of enterprise-wide accounting control virtually impossible, forcing each location and/or business unit to audit, report, deposit, archive and process credit card payment charge back requests on an individual basis.
The Shift4 Solution
At the core of NetEnterprise is the popular $$$ IN THE BANK multi-threaded transaction engine. This server handles two primary functions. It serves as the communications gateway to any number of transaction processing networks delivering real-time authorizations to interfaced points of sale via a corporate WAN or the Internet. Data security is ensured by use of Shift4’s proprietary encryption technology; Derived Unique Key Per Transaction with Moving Target Encryption (DUKPT w/MTE). Bank connectivity is provided via dial-up or dedicated leased line connectivity centrally located within a merchant’s enterprise or through Shift4’s own VirtualLeasedLine™ service. NetEnterprise delivers NetAudit functionality to users across the enterprise, using only their web browsers. The solution transforms hospitality groups into their own self-hosted Application Service Provider (ASP), allowing them to benefit from untapped economies of scale within their business.
NetAudit™ is a browser-based application service, which allows dispersed accounting or management personnel to access transaction batches hosted by the NetEnterprise ASP Server. NetAudit provides full featured auditing and management capabilities, allowing users to run reports, edit/delete errors, add transactions and settle batches. By consolidating dispersed transaction data at a single point, enterprises are empowered to manage their credit card receivables more efficiently. All without having to load or configure software or hardware at individual locations.
NetEnterprise benefits diverse, multi-unit hospitality companies by:
- Increasing financial control by enabling central reporting while maintaining profit center separation
- Reducing expenses by eliminating multiple leased lines to the bank payment processing center
- Increasing efficiency by centralizing charge back response management
- Eliminating the costs of installing payment software/hardware at individual company locations
- Reducing fraud by centrally monitoring and halting fraudulent activities
- Enabling the inexpensive implementation of enterprise-wide private label card programs
“The hospitality industry has been in need of a multi-unit payment processing solution for quite some time now. The NetEnterprise ASP is the answer to providing accounting and I.T. centralization for multiple sites,” states Mark Mason, Shift4 VP of Sales and Marketing.
“Smaller enterprises not prepared to take on the responsibility and initial investment of hosting their own NetEnterprise ASP can utilize Shift4’s ASP; DOLLARS ON THE NET®. This solution, entirely hosted at Shift4’s data center, delivers similar authorization, settlement and management functionality to that of NetEnterprise.” notes J. David Oder, President and CEO of Shift4.