Visa International and Netfish Technologies announced a new global business alliance in which Netfish software products will use Visa’s XML specification for the web to enhance business-to-business transactions.
Ravi Iyer, CEO of Netfish said, “We fully recognize the strength and value of Visa’s Global XML Invoice Specification. It is the first multi-vendor endorsed standard, developed in conjunction with Visa technology partners Commerce One, IBM, Sun Microsystems, Inc. and ValiCert, Inc. We think it provides an ideal complement to our cutting edge business-to-business system integration systems.”
Netfish XDI(TM) provides out-of-the-box-support for Visa’s Global XML Invoice Specification and enables suppliers to send “enhanced data” contained in the invoice for payments made using a Visa product.
Netfish is a leading developer of business-to-business system integration, document management and workflow solutions. Initially the alliance will focus on joint efforts in the handling of invoice and payment data. Visa International and Netfish are also working on partnerships in other areas where their products and services complement one another.
Invoice Data Specification:
Netfish’s technology allows the user to seamlessly integrate with all trading partners, regardless of application or message format. The graphical workflow process allows users to customize rules and events at every point of the transaction. This allows for automated processing of e-business transactions.
Netfish’s XDI software suite, which includes XDI Server, XDI Client and XDI Process Hub, converts existing business documents into Extensible Markup Language (XML) for transactions with business partners, including such popular formats as SAP, Oracle and BAAN. The integration of enhanced data support within this software means suppliers can provide line item details to Visa Purchasing card corporate clients.
Netfish and Visa are working together to provide payment functionality for Visa products within its product suite. This would include both the means for supporting Visa commercial product data storage and display within Netfish core applications, as well as the means for communicating payment data with Visa and its acquirers or processors. Netfish is also integrating the future Visa XML Reporting specification to provide reconciliation and reporting functionality based upon Visa payment and enhanced data information.
Alistair Duncan, Vice President, Visa Commercial Card Information Processing said, “This partnership furthers Visa’s goal of working with innovative leaders like Netfish to provide infrastructure for Visa enhanced data processing services. Netfish technology enables highly automated end-to-end e-business and e-commerce process integration with trading partners.”
He added, “The Netfish alliance will allow Visa Members to more quickly and efficiently integrate disparate legacy and enterprise systems.”
The Alliance Internationally
The alliance further demonstrates Netfish’s desire to expand its products and services to a global community. Netfish was recently chosen by Postgirot Bank AB, a leading SwedishVisa Commercial card issuer, to help create the premier B2B marketplace for the Nordic countries. Postgirot will use the Netfish XDI(TM) eProcess(TM) Hub as the marketplace’s core infrastructure for delivering a variety of advanced B2B services, including secure, end-to-end B2B process integration and payment transactions, to its 425,000 business customers. Postgirot Bank and Netfish will also offer the Netfish XDI System to simplify trading partners’ integration with this new marketplace. Through its use of Netfish’s XDI software, Postgirot and its customers will be adopting Visa’s Global XML Invoice Specification.
The Visa Global XML Invoice Specification uses XML to exchange invoice and payment data across industries and technical processing platforms. It provides a cross-industry, interoperable message format that enables processing of enhanced data across regions and industry sectors and, as clients identify new needs, it can easily be extended and adapted to support additional information needs. The specification can be found at [www.visa.com/xml].
About Visa Commercial Payment Solutions
Visa Commercial Payment Solutions are tailored to meet the needs of its member banks and corporate clients globally. Visa International is experiencing 40% annual growth rates across its commercial card product lines. There are more than 12 million Visa commercial cards issued globally. Visa International’s three commercial card programs, Visa Business, Visa Purchasing and Visa Corporate respectively focus on: the payment needs of small businesses; the procurement needs of medium to large firms; and the travel and entertainment expenses of medium to large firms.
Visa’s Commercial Payment Solutions continue to be at the leading edge of enhanced data, new technologies and delivery channels, meeting changing commercial market needs. Visa’s business-to-business e-commerce initiatives have included online trading hubs, online procurement strategic alliances and global standards for worldwide interoperability.
About Visa International
As the “World’s Best Way to Pay,” Visa is the world’s leading payment brand and the largest payment system worldwide with more volume than all other major payment cards combined. Visa plays a pivotal role in advancing new payment products and technologies to benefit its 21,000 member financial institutions and their cardholders.
Visa has more than 80 smart card programs in 35 countries and on the Internet, with 23 million Visa chip cards, including 8 million Visa Cash cards. Visa is pioneering SET Secure Electronic Transaction(TM) programs to enable and advance Internet commerce. There are over 1 billion Visa, Visa Electron, Visa Cash, Interlink and PLUS cards in the market.
Visa-branded cards generate US$1.6 trillion in annual volume and are accepted at over 19 million worldwide locations, including at more than 627,000 ATMs in the Visa Global ATM Network. Visa’s Internet address is [www.visa.com].
About Netfish Technologies
Netfish Technologies is a leading provider of highly scalable XML-based B2B integration solutions used by the world’s top Internet-enabled companies, such as Cisco Systems, NTT Communications and Sun Microsystems, to enable B2B eCommerce with their customers, suppliers and partners. In 1999, Oracle Corporation named Netfish Technologies as one of the “Top 50 eBusiness Solution Developers on Oracle” and one of the top four “Most Innovative eBusiness Solution Developers on Oracle”. In 2000, UPSIDE magazine named Netfish Technologies as one of the “UPSIDE Hot 100” private companies, recognizing the company’s innovation, leadership and performance in the business-to-business category. Founded in 1997, Netfish is based in Santa Clara, CA. Visit [www.netfish.com] for more information.
Netfish Technologies, XDI and XDI eProcess are trademarks of Netfish Technologies, Inc. All Rights Reserved. All other company, brand and product names are referenced for identification purposes only and may be trademarks which are the sole property of their respective owners.