BHMI Enhances the Concourse Financial Software Suite® to Support the Illinois Interchange Fee Prohibition Act (IFPA)
The IFPA, enacted in June 2024 and set to take effect on July 1, 2025, prohibits payment card networks, issuers, acquirer banks, and processors from assessing or receiving interchange fees on portions of electronic payment transactions that represent state or local taxes and gratuities.
Under the new law, merchants must communicate tax and gratuity amounts either at the time of authorization or settlement, or through a post-transaction rebate process, which allows up to 180 days for submission of the relevant data.
In support of the IFPA, Concourse's configurable rules engine identifies the applicable portions of a transaction so that Concourse clients can configure their fee and settlement rules to incorporate the new law's requirements to exclude the application of interchange fees when not allowed.
'This is a great example of why Concourse is recognized as one of the most flexible back-office payment solutions on the market,' said Lynne Baldwin, President of BHMI. 'Thanks to our powerful, configurable rules engine, Concourse is purpose-built to adapt quickly to new regulatory mandates and evolving industry requirements.'
About BHMI
BHMI is a respected provider of software solutions for managing the back-office processing of electronic payment transactions. The company's flagship product, the Concourse Financial Software Suite, offers a dynamic and flexible solution for processing a wide range of payment types, including debit cards, credit cards, mobile payments, P2P, real-time payments, ATMs, and POS. Concourse provides essential back-office functions such as automated reconciliation, fee assessment, settlement and dispute management. Its continuous processing architecture and powerful rules engine make it an ideal solution for organizations looking to modernize and optimize back-office payment operations.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
16 minutes ago
- Business Wire
Kioxia Achieves Successful Prototyping of 5TB Large-Capacity and 64GB/s High-Bandwidth Flash Memory Module
TOKYO--(BUSINESS WIRE)-- Kioxia Corporation, a world leader in memory solutions, has successfully developed a prototype of a large-capacity, high-bandwidth flash memory module essential for large-scale artificial intelligence (AI) models. This achievement was made within the "Post-5G Information and Communication Systems Infrastructure Enhancement R&D Project (JPNP20017)" commissioned by the New Energy and Industrial Technology Development Organization (NEDO), Japan's national research and development agency. This memory module features a large capacity of five terabytes (TB) and a high bandwidth of 64 gigabytes per second (GB/s). To address the trade-off between capacity and bandwidth that has been a challenge with DRAM-based conventional memory modules, Kioxia has developed a new module configuration utilizing daisy-chained connections with beads of flash memories. We have also developed high-speed transceiver technology enabling bandwidths of 128 gigabits per second (Gbps), along with techniques to enhance flash memory performance. These innovations have been effectively applied to both memory controllers and memory modules. The practical application of this memory module is expected to accelerate digital transformation by enabling the adoption of Internet of Things (IoT), Big Data analysis, and advanced AI processing in post-5G/6G Mobile Edge Computing (MEC) servers and other applications. 1. Background In the post-5G/6G era, wireless networks are expected to achieve higher speeds, lower latency, and the ability to connect more devices simultaneously. However, transmitting data to remote cloud servers for processing increases latency across the entire network, including wired networks, making real-time applications difficult. For this reason, there is a need for the widespread adoption of MEC servers that process data closer to users, which is expected to drive digital transformation across a variety of industries. Furthermore, the demand for advanced AI applications, such as generative AI, has been rising in recent years. Alongside the performance improvements of MEC servers, memory modules are also required to have even larger capacity and higher bandwidth. Against this background, Kioxia has focused on enhancing the capacity and bandwidth of memory modules using flash memory for this project. The company has succeeded in developing a prototype memory module with a capacity of 5 TB and a bandwidth of 64 GB/s, and has verified its operability. 2. Achievements of This Project 2.1 Adoption of Daisy-Chain Connections To achieve both large-capacity and high-bandwidth memory modules, Kioxia has adopted a daisy-chain connection with beads of controllers connected to each memory board instead of a bus connection. As a result, the bandwidth is not degraded even when the number of flash memories is increased, and a large capacity beyond the conventional limit is achieved. 2.2 128 Gbps PAM4 1 High-speed, Low-power Transceiver High-speed differential serial signaling is applied to daisy-chain connections between memory controllers instead of parallel signaling to reduce the number of connections, and PAM4 (Pulse Amplitude Modulation with 4 Levels) is utilized to achieve higher bandwidth of 128 Gbps with low-power consumption. 2.3 Technologies Boosting Flash Memory Performance To shorten the read latency of flash memory in memory modules, Kioxia has developed flash prefetch technology, which minimizes the latency by pre-fetching data during sequential accesses, and implemented this in the controller. In addition, memory bandwidth has been increased to 4.0 Gbps by applying low amplitude signaling and distortion correction/suppression technology to the interface between the memory controller and flash memory. 2.4 Memory Controller and Memory Module Prototyping By implementing 128 Gbps PAM4 high-speed, low-power transceivers and technologies boosting flash memory performance, Kioxia has prototyped a memory controller and memory module that uses PCIe® 6.0 (64 Gbps, 8 lanes) as the host interface to the server. The prototyped memory module demonstrated that a capacity of 5TB and a bandwidth of 64GB/s can be realized with less than 40 watts of power consumption. 3. Future Plans In addition to IoT and big data analysis and advanced AI processing at the edge, Kioxia is promoting the early commercialization and practical implementation of the findings from this research, exploiting new market trends such as generative AI. 1 PAM4 (Pulse Amplitude Modulation with 4 Levels): data transmission technique using four voltage levels representing two-bit data. * PCIe is a registered trademark of PCI-SIG. * Company names, product names and service names may be trademarks of third-party companies. * This announcement has been prepared to provide information on our business and does not constitute or form part of an offer or invitation to sell or a solicitation of an offer to buy or subscribe for or otherwise acquire any securities in any jurisdiction or an inducement to engage in investment activity nor shall it form the basis of or be relied on in connection with any contract thereof. * Information in this document, including product prices and specifications, content of services and contact information, is correct on the date of the announcement but is subject to change without prior notice. About Kioxia Kioxia is a world leader in memory solutions, dedicated to the development, production and sale of flash memory and solid-state drives (SSDs). In April 2017, its predecessor Toshiba Memory was spun off from Toshiba Corporation, the company that invented NAND flash memory in 1987. Kioxia is committed to uplifting the world with 'memory' by offering products, services and systems that create choice for customers and memory-based value for society. Kioxia's innovative 3D flash memory technology, BiCS FLASH™, is shaping the future of storage in high-density applications, including advanced smartphones, PCs, automotive systems, data centers and generative AI systems.
Business Wire
5 hours ago
- Business Wire
TEGNA INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of TEGNA Inc.
NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ('KSF') are investigating the proposed sale of TEGNA Inc. (NYSE: TGNA) to Nexstar Media Group, Inc. (NasdaqGS: NXST). Under the terms of the proposed transaction, shareholders of TEGNA will receive $22.00 in cash for each share of TEGNA that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company. If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ( toll free at any time at 855-768-1857, or visit to learn more. To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit
Business Wire
5 hours ago
- Business Wire
SOHO HOUSE INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Soho House & Co Inc.
NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ('KSF') are investigating the proposed sale of Soho House & Co Inc. (NYSE: SHCO) to affiliates of MCR. Under the terms of the proposed transaction, shareholders of Soho will receive $9.00 in cash for each share of Soho that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company. If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ( toll free at any time at 855-768-1857, or visit to learn more. To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit
