Latest news with #ConcourseFinancialSoftwareSuite
Business Wire
20-05-2025
- Business
- Business Wire
BHMI Enhances the Concourse Financial Software Suite® to Support the Illinois Interchange Fee Prohibition Act (IFPA)
OMAHA, Neb.--(BUSINESS WIRE)-- BHMI, a leading provider of back-office payment solutions, today announced that its Concourse Financial Software Suite has been updated to support compliance with 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.
Yahoo
06-02-2025
- Business
- Yahoo
BHMI Publishes New Documents About Configurable Rules Engine, Continuous Processing Architecture, and Life Cycle Linkage Components of the Concourse Financial Software Suite®
OMAHA, Neb., February 06, 2025--(BUSINESS WIRE)--BHMI, a leading provider of back-office payment solutions, today announced the release of new documents that offer details about the primary components of the Concourse Financial Software Suite, which empower organizations with the flexibility and efficiency needed to successfully process electronic payment transactions. The Concourse Financial Software Suite is built on a set of core features that make it the most reliable, efficient, and adaptable back-office solution in the payments industry. "These new documents describe some of the strategic components of the Concourse suite and highlight the benefits they offer to companies processing electronic payments," said Casey Scheer, Director of Marketing at BHMI. The three newly released documents provide details on the following Concourse components: Configurable Rules EngineConcourse is powered by a configurable rules engine that offers unmatched flexibility and agility. This document explains how the rules engine allows businesses to tailor payment processing workflows, adjust to regulatory changes, and respond to shifting market demands without costly software modifications. Key examples include configuring settlement time windows, automated reconciliation processes, and efficiently managing chargebacks, disputes, and compliance changes.[View the document here.] Continuous Processing ArchitectureAs real-time payment methods gain popularity and transaction volumes continue to rise, batch-oriented systems are increasingly obsolete. Concourse's continuous processing architecture addresses this issue by enabling real-time transaction data processing. This document describes how Concourse continuously loads data from front-end systems and networks and processes transactions as they arrive, which ensures real-time access to financial positions and instant output of reports throughout the business day.[View the document here.] Life Cycle LinkageThe life cycle of electronic payments involves multiple stages and entities. Concourse's life cycle linkage functionality connects these activities seamlessly, providing a complete view of every transaction. This document explains how Concourse tracks transactions from authorization and preauthorization to chargebacks and representments, ensuring that companies can make informed decisions at each stage of the transaction life cycle.[View the document here.] 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 dispute management, fee processing, reconciliation, and settlement. Its continuous processing architecture and powerful rules engine make it an ideal solution for organizations looking to modernize and optimize payment operations. To learn more about BHMI, please visit View source version on Contacts MEDIA CONTACT: Casey ScheerBHMI402-333-3300cscheer@ Sign in to access your portfolio
