10 Nov 2009 - Distra has today announced that PayFair, the first Single Euro Payment Area (SEPA) compliant payment card for European consumers, merchants and banks, has gone live on the Distra Universal Switch. The announcement comes as PayFair yesterday announced the first implementation of its “One card for one Europe” system, went live in Belgian supermarkets beginning with Colruyt near Brussels.
“PayFair is indicative of the innovations occurring in the payments landscape, with consumers, merchants and banks demanding lower costs, increased independence and choice from their card payment operations. It also represents a shift in the market, with retailers increasingly driving the payments agenda,” says Mike Aston, CEO Distra. “Distra is pleased to be involved with such an innovative programme as PayFair which sits right at the heart of payments transformation. We look forward to a future together delivering the benefits of greater choice to the payments market.”
Distra, who have long been at the heart of payments transformation, is providing its Universal Switch which underpins the PayFair platform, and combines tier one performance and availability with enterprise level security. Based on its Mission Critical Application Server (MCAS), the Distra Switch uses a powerful payments engine to deliver real-time processing and is benchmarked to meet the throughput required by the largest processors with no planned or unplanned downtime and without loss of transaction data.
Distra’s solution is working in conjunction with technologies from Unisys and GFG Group to deliver the PayFair platform. In line with PayFair’s rollout, Distra will also be supporting the card network as it expands into other supermarkets in Belgium and into Germany in early 2010, as well as future rollouts across Europe and globally.
Formed in 1999, Distra is a software company that operates at the heart of payments transformation globally. Used by some of the world’s leading financial institutions, Distra delivers solutions that enable consolidation, and facilitate convergence and real time payments. Distra’s enterprise class products are designed for use by financial institutions, payments processors and other institutions operating within the payments chain, and uniquely incorporate tier one performance and availability, while remaining accessible for organisations of all sizes and budgets.
In 2008, Distra formed a strategic alliance with National Australia Bank (NAB). The alliance combines Distra’s technology with the banks extensive payments experience to develop and promote a range of new payments product and services. NAB, a licensee of Distra’s payments switching application since June 2007, is also a minority stakeholder in the company.
Headquartered in Sydney, Australia, Distra also has offices in Singapore and London.
For more information:
Metia for Distra
Office: +44 20 3100 3601
Metia for Distra
Office: +1 917 320 6451