BACS Payment Schemes Limited confirms Eiger Systems as UK leader in payment processing

Industry figures published by BACS Payment Schemes Limited confirm that Eiger Systems, Europe’s leading developer of validation and payment processing solutions, processed over 4.35m electronic transactions daily throughout December. This represents 33.8% (87 million) of all BACS payments (Direct Credits and Direct Debits) submitted via BACSTEL-IP. By the end of 2005, Eiger Systems processed more electronic transactions per month than any other BACSTEL-IP software provider.

Since its launch in June 2003, Eiger Systems’ global payments platform, EigerPAY Gateway (http://www.eiger.co.uk/eigerpaygateway ), has become the industry-preferred solution for high volume or complex Originators submitting electronic payments to BACS. Users include Standard Life Insurance, BSkyB, BT and Dixons, part of the DSG group.

Matthew Croxford, Product Manager for EigerPAY Gateway believes the company’s success reflects the stability, security and flexibility of the solution:

“EigerPAY Gateway is the most sophisticated and scaleable payments solution available. It is specifically designed to meet the needs and expectations of large organisations and bureaux or those with diverse payment applications, multiple BACS (http://www.eiger.co.uk/eigerpaygateway ) Service User Numbers or complex submission policies. Clearly the market has recognised this as the statistics demonstrate.”

Offering easy integration with any financial or accounting application, EigerPAY Gateway was the first system to be approved by BACS for use in unattended mode, through the support of Hardware Security Modules (HSMs), and for use by bureaux. It is also the only BACSTEL-IP solution with integrated Biometric verification thereby providing the highest levels of security available.

“As we move into the post-migration phase of BACSTEL-IP many users are reassessing their BACSTEL-IP implementations by further automating their payments process and enhancing the security of their payment applications. EigerPAY Gateway is uniquely placed to assist them with this.

“In parallel we are developing EigerPAY Gateway as a multi-channel payments platform. There are many changes underway in the electronic payments industry, many of which are driven by the development of a Single Euro Payments Area across Europe, such as the establishment of a pan-European Direct Debit (PEDD) standard, and the drive for faster payment processing and clearing. EigerPAY Gateway is leading the industry by offering banks and corporations the ability to integrate with the many new and developing payment systems that are emerging in this dynamic market place.”

About Eiger Systems
Eiger Systems provides market leading software and services to meet the requirements of organisations implementing strategic payment solutions.

For more information visit http://www.eiger.co.uk

Contact details:
Eiger Systems Limited
Eiger Point
Swift Park
Old Leicester Road
Rugby
Warwickshire
CV21 1DZ
UK