Thursday, November 11, 2010

Cash Based Alternative ONline Payments

Interesting things to share about on the online payment methods


Cash Based online payment  ( U Kash)                                           
  • online transactions to be anonymous, no financial details is required . ( NO bank Card, NO bank account)
  • easy safe , private online payments for everyone
  • it works like  a coupon or voucher which has 19 digit pin number, amount of coupon and expiry date
  • typically higher merchant cost, since the agent or partners can charge service charge
 Traditional Online payments (visa, mastercard, paypal)
  • requires bank account, card and needs verification
  • moderate standard merchant fee

Wednesday, November 10, 2010

MESSAGE BROKER AND MQ

Websphere MQ - Application to application communication services regardless where the data resides. It can be in the same server or separate server. Websphere MQ faciliates communication between different application by sending and receiving application data via message queuing.
WebSphere MQ provides a secure and reliable transport layer for moving data unchanged in the form of messages between applications but it is not aware of the content of the messages.
It suppost most of the programming language like cobol, java, vb.net accross all platform

Websphere Message Broker - to extend MQ -
capable to understand the content of each message that moves through the broker.
processing messages from various sources, such as Java Message Service (JMS)

MQ is just a transport protocol layer to sent out messages and receive message but MB a Processor to process the content of the messages.





An XML parser converts an XML document into an XML DOM object - which can then be manipulated with a JavaScript.


Today i Learned lil something on SWIFT

What is swift : - Society for Worldwide Interbank Financial Telecomunication.
                    
                     Operation for the telecomunication, transmission, and routing of private and confidential and proprietary financial messages. also acts as a ISO creation and maintenance of financial messaging standards.
Telex - secure delivery of payment and confirmation information primary in treasury and banking areas.

SWIFT services -
FIN - Financial application - messages from user to user  (System Messages)
GPA - General Purpose Application  - messages from user to swift and vice versa

IFT (Interbank File Transfer)     For bulk file transfer of messages, for example low net value, high volume Retail payments
ACCORD        A centralised confirmation matching bureau service
Directory Services     An automated and centralised Standard Settlement Instruction service
                                 for message enrichment that at present is limited to Treasury and Payment information
RTGS (Y-copy)     Mostly used for sending a copy of a message or parts thereof to a third
                           party,for  example a Central Bank


SWIFT --  final destination address

MT0nn     System Messages
MT1nn     Customer Payments
MT2nn     Financial Institution Transfers
MT3nn     FX, Money Market & Derivatives
MT4nn     Collections and cash letters
MT5nn     Securities Markets
MT6nn     Precious Metals & Syndications
MT7nn     Documentary Credits & Guarantees
MT8nn     Travellers Cheques
MT9nn     Cash Management & Customer Status

The second digit represents the Group denoting that the messages are related to similar parts of a transaction's lifecycle. For example:
MT200     Financial Institution Transfer, Own Account
MT202     Financial Institution Transfer, Third Party
MT521     Receive (Securities) Against Payment
MT523     Deliver (Securities) Against Payment

The last digit is the Type and denotes the individual message. There are several hundred message types across the categories in total.

A special subset of Messages is known as the Common Group because the last two digits represent the same message in each category. For example:
MTn99     Free format
MT299     Free format relating to transfers
MT599     Free format relating to securities
MT999     General free format

Other common group messages are:
MTn90     Advice of charges, interest, etc
MTn91     Request for Payment of Charges, etc
MTn92     Request for Cancellation
MTn93     Directory Services
MTn95     Query
MTn96     Answer
MTn98     Proprietary Message Envelope