July 27, 2004
Shift4 Corporation Leads Payment Gateway Industry in Reliability
LAS VEGAS July 27, 2004 – Shift4 Corporation’s DOLLARS ON THE NET solution, the leading web-based e-payment gateway solution with real-time electronic payment authorization, settlement, reporting and fraud control capabilities, reported over 99.86% system availability in the first and second quarter of 2004. This is also in line with the system reliability and availability for the whole of 2003.
Payment processing gateways such as DOLLARS ON THE NET connect merchants’ point-of-sale and property management systems to the banks and processors. Should a gateway be down, customers are unable to receive immediate authorizations through their point-of-sale. Either information has to be kept and run at a later date – leaving the organization open to fraud – or voice referrals must be received. Voice referrals, where the clerk calls into the processor and reads the credit card data over the phone, are time consuming and costly, both in customer satisfaction and transaction costs.
“We work with a lot of establishments – hotel, restaurants, order processing companies, even retail stores – that are open around the clock. Their customers perform transactions every minute of every day, so it is important that their payment processing solution is available 24 hours a day. We understand that and take every precaution possible – complete redundancy, load balancing, testing and so forth – to ensure that our system is there whenever they need us,” stated J. David Oder, President & CEO, Shift4.
“We’re quite pleased with DOLLARS ON THE NET. With our old bank system, we had days when we had to manually find and process 300 transactions lost over the weekend. Now we don’t have to worry about it. Our transactions are in the system every morning at 8:30 when we come in and they’re still there in the evening when we audit and settle,” stated Michael Fink, Assistant Controller for the Wheeling Park Commission.
The only system downtime that occurred in 2004 was a pre-scheduled 3-hour window during which Shift4 brought live its new state-of-the-art data center. A second data center, with an even larger load capacity, will be brought on line later this year, though no downtime will be associated with that go live date. Together, these two, completely redundant data centers will bring Shift4’s system availability close to its ultimate goal of five-nines ( 99.999% availability) , or in layman’s terms, less than five and a half minutes of downtime per year.
About Shift4 Corporation
Shift4, a leading developer of financial transaction processing software and services, provides web-based, real-time enterprise payment solutions for leaders in the hospitality, retail, foodservices and e-commerce markets. Through connectivity to most of the major processors, including Vital Processing Services, Global Payment Services, Fifth Third Bank, NDC Canada, First Data Corporation, American Express, Paymentech, Nova Information Systems, Chase Merchant Services, Bank of America, First Horizon Merchant Services and Heartland, DOLLARS ON THE NET provides both high speed and low cost authorizations and settlements for credit, debit, check, private label and gift card transactions. DOLLARS ON THE NET also includes the ability to access, review and edit transactions prior to settlement, as well as a searchable, 24-month archive of transactions for reporting and charge back defense. Shift4’s solutions are designed to integrate with virtually any POS/PMS system and interface partners include MICROS, RunIT, Aloha, Retail Pro, Smyth Systems, Digital Dining, Spa Soft and InnQuest. Shift4’s DOLLARS ON THE NET application and data center are acknowledged by Visa USA as compliant with their Cardholder Information Security Program (CISP), and are also compliant with MasterCard’s SDP and American Express’s DSOP. For more information, contact Shift4 at (702) 597-2480 or visit them online at www.shift4.com.