eNETS
partners with IBM to upgrade online payments infrastructure
17 Aug 2005
eNETS, the online payments arm of Network for Electronic
Transfers (Singapore) Pte Ltd (NETS), today announced
a deal with global technology services giant, IBM, that
will see a complete upgrade of eNETS' e-commerce infrastructure
to cater for the exponential growth of its online payments
business.
eNETS is Singapore's leading online payments provider
for credit cards, direct debit and "virtual accounts".
The company handles more than 350,000 transactions a
month, has more than 700 merchants signed to its payment
gateway and is the only gateway in Singapore that can
support the three different payment products. Moreover,
eNETS' influence now stretches way beyond Singapore's
shores with merchants in Hong Kong, China, Japan, and
Europe already benefiting using the system.
IBM will provide the servers and software that will
be able to handle up to five times more transaction
traffic than eNETS' existing system, which will enable
it to cope with the growth of online payments.
"We expect the numbers of online transactions we handle
to double every year in the short and medium terms at
least. In order to be prepared for this growth, we have
sought and secured a trusted technology partner. IBM
was the logical choice as they are a world-class IT
company and their technology fulfills our key demands
of security, reliability, and, importantly, scalability,"
said Raj Lorenz, General Manager for eNETS and International
Markets, NETS.
"We have a new generation of consumers and merchants
that are increasingly technology savvy and comfortable
transacting via the Internet," said Mr Lorenz. "We are
using this technology to be able to be more responsive
to the needs of our customers and partners. Better service
and faster time to market are two ways we can confirm
our leadership position."
Brian Birt, General Manager, Financial Services Sector,
IBM Singapore, said: "IBM is delighted to help eNETS
build a robust infrastructure. As a strategic technology
partner, we are working closely with eNETS to serve
consumers and merchants better.
"Our solution will put eNETS at the forefront of the
online payments environment, which demands the highest
levels of performance, zero downtime and the integration
of multiple sources of information."
In consultation with its customers, eNETS identified
the need to streamline this service. The new IBM platforms
support technology such as Web services that propel
business needs and enables merchants to simply "turn-off
or turn-on" their chosen payments service. This will
significantly streamline their business processes allowing
them to focus more on selling their products and services
over the Internet.
