Zeta, India’s leading banking tech company providing a full-stack, cloud-native, API first platform for banks and fintechs, recently showcased its Access Control Server (ACS) solution - Cipher’s capability to process more than one million transactions per second. The payment processor’s capability is up to 6X higher than the global per second transactions throughput which currently stands at 1,50,000 transactions per second.
Cipher provides elasticity and scalability at low-cost. It has the ability to successfully process large volumes of transactions as per the demand. Thus, even during high sales periods such as the festive season, banks can confidently expect a significantly higher payment success rate.
Talking about Cipher and its usage, Murali Nair, President- Banking, Zeta said, “Cipher is a future ready and scalable ACS solution with best in class payment success rates. It is EMV 3DS certified and also equipped to manage high volume transactions. When the customer demand is high especially during festive season sales, banks and e-commerce companies can use Cipher’s platform to seamlessly manage large volumes of transactions with higher speed and lower transaction declines in a cost effective way. This will help the companies to increase their profitability with better user experience for the customers.”
Cipher is a second-factor authentication product that provides a card issuing bank the facility to authenticate and verify the user’s identity while performing online payments. These authentication methods include various mobile friendly features like Swipe2Pay, SuperPin, powerful APIs, SDKs, risk-based authentication as well as the commonly used SMS and email OTP. Cipher is a fully secure ACS solution that is PCI-DSS and PCI-3DS certified.
Zeta® is a leading banking tech company providing technologically advanced solutions for banks and fintechs. It provides a full-stack, cloud-native API first platform including a digital core and a payment engine for issuance of credit, debit, and prepaid products that enable legacy banks and new-age fintech institutions to launch modern retail and corporate fintech products. Co-founded by Bhavin Turakhia (CEO) and Ramki Gaddipati (CTO), Zeta currently provides its platform and products in India, Asia, Europe, and LATAM. In India, Zeta has entered a strategic partnership with Sodexo to provide employee benefits such as meals and gifts to corporates. Zeta is a SOC 2, ISO 27001, ISO 9008, PCI DSS certified company. Zeta has over 450 employees and clocks over 1 million transactions per day.