Logic dictates that the medium on which commerce is conducted and the speed at which it is conducted must have corresponding mediums and speeds for Payments which arise as a consequence of this commerce.

The volume of e-commerce conducted over the Internet is growing exponentially and to date, aside from credit cards, there is no payment system to support this. While credit cards are useful to effect payments resulting from e-commerce, they are largely restricted to payments between consumers and established merchants (C-To-B Payments). In addition to the substantial capital outlays required to establish a credit card infrastructure, credit risk factors and chargebacks contribute to adding onto transaction costs. PAY is a revolutionary End-To-End payment system which allows C-To-B, B-To-B or C-To-C payments between parties across international boundaries in minutes.

Key Features :


PAY uses Testkeys, Asymmetrical Encryption, Symmetrical Encryption, SSL and hardware tokens making it a highly secure system.

Cost Effective

As PAY uses structured messaging over the Internet, it is a very cost effective system.


Using PAY, funds in any currency can be sent across international boundaries in minutes. Typically the time taken for a payment between a payer and payee in two countries, in the currency of a third country, will take place End-to-End in about 10 minutes.

Human Resource Effective

PAY is an End-to End system which transfers the data entry function from a financial institution to its customers.

Flexible Authorization Automation

PAY allows users to fine tune the automation of transaction authorization based individual risk perceptions.

Currency Independent

PAY can effect payments in any currency and supports multiple exchange rates.

Intra / Inter Bank Networks

PAY allows easy implementation of Intra or Inter Bank Networks.

System Features :

Structured Input / Output Formats

All PAY messages are structured allowing easy integration to other payment systems such as SWIFT.

User Defined Charges

Institutions can set up absolutely any type of charge structure using Bankstar's Rule Designer. Charges can be set up to be payable by the Payer, Payee or both.

Thin/Fat Client

PAY supports both Thin and Fat Clients allowing a bank's customers to choose between the simplicity of a Thin Client and the flexibility of a Fat Client.

Interface to BILL

PAY is interfaced to Bankstar's electronic billing package, BiLL. An invoice raised using BiLL will trigger a payment from PAY when the invoice is selected for payment.

User Difinable Payment Instance

Any number of Payment instances can be set up and parameters controlled for each instance. Transactions generated using the instance will conform to rules set up .

Interface to TEST

PAY is interfaced to Bankstar's testkey package, TEST. TEST will generate a testkey for Any payment transaction which requires one.

Customer Confirmation

At an institution's option, a PAY instance can be set up such that a customer of the institution will need to reconfirm a transaction by email before the payment is made.

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