Sage today announced a new offshoot of their Sage Payment Service they’ve named Sage Exchange.
The promise of Sage Exchange is that it will integrate Sage’s accounting products (and other Certified Business Applications) with Sage Payment Service so that all forms of payment (credit, debit, checks) can be accepted and integrated into an accounting package.
The initial release of Sage Exchange will connect to a new Sage Exchange Virtual Terminal with card swipe capability, new encrypted point-of-sale terminals, Sage software products, and several additional business applications. It will support payments integration in approved software solutions now, and expanded capability with point-of-sale devices in the next release.
Sage Exchange offers a tool kit for developers to enable the integration of payment data with software solutions as well as eliminating developers from PA-DSS certification fees and associated costs.
Out of the box the following Sage products are slated for integration:
- Peachtree by Sage
- Sage ERP X3
- Simply Accounting by Sage
- Sage Pro ERP
- Timeslips by Sage
- DacEasy by Sage
- Sage BusinessVision
- Sage Fundraising 50
- Sage Fundraising 100
- Sage Fundraising 100 – Rainbow Edition
- Sage Millenium
- Sage Intergy
Other Sage products that were not specifically named but are listed as coming soon:
- Sage MAS 90 ERP
- Sage MAS 200 ERP
- Sage MAS 500 ERP
- Sage Accpac ERP
- Sage Medical Manager
There were several Sage products not named – notably BusinessWork, MIP, Platinum For Windows. We’ll be following up with Sage to learn whether that is simply an oversight.
Here’s what Rob Bertke, senior vice president for product management, Sage Payment Solutions had to say about our question of why BusinessWork, MIP and Platinum For Windows (PFW) were not mentioned in the release:
All Sage products are capable of integration with Sage Exchange. However, for the release announcement, we only listed those Sage products known to be available within approximately the next several months. Other Sage products are developing their plans to integrate, as well. For example, BusinessWorks will be integrating, but they are not a part of the first go-round. The other two products you mention do not have built-in card acceptance capability, so they did not need to integrate with Sage Exchange at this time. It is expected that these products will join the family when we get to later phases, which will include transactions that can be passed back from third-party systems or terminals. We will provide updates throughout the launch phases.
In response to the question of whether Sage Exchange is a rebranding of the Sage Vault product, Rob had this to say:
No, Sage Exchange is a completely new solution with far broader capabilities than Sage Vault. While Sage Vault offers substantial security, Sage Exchange provides that and much more in terms of integration flexibility and sophistication. Basically, Sage Vault was a product name that referred to a capability (tokenization). Sage Exchange offers tokenization, so the ‘Sage Vault’ is no longer needed.
Link for more information: Sage Exchange
The full press release;
May 11, 2010 10:45 ET
New Sage Exchange Payments Platform Will Allow SMBs to Seamlessly Integrate a Payments Service to Business Management Systems
New Integrated Payments Platform Is a PCI Certified SaaS Environment Designed by Sage North America
MCLEAN, VA–(Marketwire – May 11, 2010) – Sage North America today introduced Sage Exchange, a new secure, Payment Card Industry (PCI) certified payments platform delivered in a Software as a Service (SaaS) model. Sage Exchange will allow small and midsized businesses (SMBs) and organizations to accept all forms and methods of payment, with seamless data integration to a wide range of Sage business management software products and third-party business solutions. Seamless integration between payment applications and back-office software can improve an organization’s cash flow and forecasting, while eliminating manual data entry and the risk of errors.
Elements of Sage Exchange will be released in phases over the next several months. The initial phases will allow businesses and organizations using many Sage software products to accept credit and debit cards in a secure and Payment Application Data Security Standard (PA-DSS) validated environment, while automatically updating accounts receivable records. Subsequent phases will expand payments integration to distributed credit/debit card and electronic check terminals, or point-of-sale (POS) devices, and a range of integrated payment solutions to the accounts payable side.
“Every business buys and sells goods or services,” said Greg Hammermaster, president of Sage Payment Solutions, Sage’s payments division. “Sage Exchange will provide a robust platform to accept and make payments for those goods or services, while seamlessly accounting for and tracking those payments. Virtually any small and mid-sized company or organization can benefit from Sage Exchange.”
The first release of Sage Exchange will offer the following benefits:
seamless and secure payments integration into the following Sage software products:
Peachtree by Sage, Simply Accounting by Sage, Sage ERP X3, Sage BusinessVision, Sage Pro ERP, and DacEasy by Sage; Sage Fundraising 50, Sage Fundraising 100, Sage Millennium, and Sage Fundraising 100 – Rainbow Edition; Sage Intergy for medical practice management; and Timeslips by Sage for billing and time-tracking;
enhanced customer experience through the new Sage Exchange Virtual Terminal (or web interface) with key-entered and “card swipe” capabilities that does not time out; and
improved security and flexibility through new encrypted credit and debit card terminals with the latest browser-based technology.
A subsequent release of Sage Exchange will connect to the following Sage software products:
Sage Accpac ERP; Sage MAS 90 ERP, Sage MAS 200 ERP, and Sage MAS 500 ERP; and Sage Medical Manager for electronic health records (EHR).
Sage Exchange will also later support expanded payment functionality in the areas of payroll, procurement, and payables, as well as seamlessly integrate with additional complementary business applications, although some applications may initially be stand alone.
“As a leading global supplier of business management software, Sage is a trusted partner that understands the value of integrated payment systems,” said Hammermaster. “Sage Exchange increases the efficiency of accepting and making payments to help companies achieve two important goals: reduced costs and maximized value of their business software environment.”
In summary, the Sage Exchange platform currently:
Integrates payments with business management software systems;
Improves cash flow management and forecasting;
Eliminates manual data entry and reduces the risk of errors;
and Uses the latest in security & technology, including tokenization, to ensure a safe, secure payment processing environment (PCI certified).
The full Sage Exchange platform will also:
Integrate all methods of payment acceptance: web, phone, terminal, mobile, scanner;
Automate payables settlement, maximizing the customer’s preferred payment method; and
Provide a consolidated view of payment activity.
For additional information, please visit www.sagepayments.com/sage-services/sage-exchange.aspx or call 800-261-0240.
About Sage Payment Solutions
For more than 20 years, Sage Payment Solutions has been providing electronic payment systems for businesses and organizations. Sage’s payment processing and business services are currently being provided to more than 140,000 businesses and organizations, who are delivering improved customer experiences by accepting multiple forms of payment, including credit and debit cards, electronic checks, Check21, gift and loyalty cards, and automatic recurring payment. With Sage Payment Solutions, businesses can also expand the way they accept payments, from card present and mail order/telephone order (MO/TO), to Internet and payments integrated with Sage software applications and third-party solutions. Sage Payment Solutions is Level 1 PCI certified, and is an active PCI Security Standards Council Participating Organization. For more information about Sage Payment Solutions, please call 800-261-0240, or visit www.sagepayments.com.
About Sage North America
Sage North America is part of The Sage Group plc, a leading global supplier of business management software and services. Sage North America employs 4,000 people and supports 3.1 million small and midsized business customers. The Sage Group plc, formed in 1981, was floated on the London Stock Exchange in 1989 and now employs 13,100 people and supports 6.2 million customers worldwide. For more information, please visit the website at www.sagenorthamerica.com.
© 2010 Sage Software, Inc. All rights reserved. Sage, Sage Software, Sage logos and the Sage product and service names mentioned herein are registered trademarks or trademarks of Sage Software, Inc. or its affiliated entities. All other trademarks are the property of their respective owners.