Atom Technologies
Encyclopedia
Atom Technologies is an Indian company offering payment
processing technology
, headquartered in Mumbai
, India
. atom was started in 2006 and is a subsidiary
of the Financial Technologies Group
.
The company has historically focused upon the distribution of payment
and banking services through the use of mobile technology
. atom technologies has created patent pending
products & services for mobile payments, Interactive Voice Response (IVR) based payments and mobile based service distribution framework.
atom technologies also helps microfinance
institutions to expand their business through the use of effective Information Technology
systems.
atom is an acronym for ‘any transaction on mobile.’
platforms have been accredited for PCIDSS & PA-DSS
certification
s which are accepted by the banking industry and hence ascertain the security of its mobile payment
transactions and the transmission
of card holder data.
atom’s payment
platform uses Advanced Encryption Standard
128 Bit
Cipher Block Chaining for routing
transactions
using secure VPN connectivity. atom does not store any credit card
details but acts as a pass-through to the bank’s payment gateway
for routing
transactions
.
s apart from credit card
companies like Visa Inc., MasterCard
and American Express
. The credit card
s of these bank
s & companies can be used to transact on the atom platform. More than 250 merchants have tied up with atom to provide these payment
services.
Payment
A payment is the transfer of wealth from one party to another. A payment is usually made in exchange for the provision of goods, services or both, or to fulfill a legal obligation....
processing technology
Technology
Technology is the making, usage, and knowledge of tools, machines, techniques, crafts, systems or methods of organization in order to solve a problem or perform a specific function. It can also refer to the collection of such tools, machinery, and procedures. The word technology comes ;...
, headquartered in Mumbai
Mumbai
Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
, India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
. atom was started in 2006 and is a subsidiary
Subsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
of the Financial Technologies Group
Financial Technologies Group
Financial Technologies Limited is an Indian financial services company, formed in 1988. It is promoted by the Financial Technologies Group...
.
The company has historically focused upon the distribution of payment
Payment
A payment is the transfer of wealth from one party to another. A payment is usually made in exchange for the provision of goods, services or both, or to fulfill a legal obligation....
and banking services through the use of mobile technology
Mobile technology
Mobile technology is a collective term used to describe the various types of cellular communication technology. Mobile CDMA technology has evolved quite rapidly over the past few years...
. atom technologies has created patent pending
Patent pending
The expressions "patent pending" or "patent applied for" refer to a warning that inventors are entitled to use in reference to their product or process once a patent application has been filed, but prior to the patent being issued or the application abandoned...
products & services for mobile payments, Interactive Voice Response (IVR) based payments and mobile based service distribution framework.
atom technologies also helps microfinance
Microfinance
Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
institutions to expand their business through the use of effective Information Technology
Information technology
Information technology is the acquisition, processing, storage and dissemination of vocal, pictorial, textual and numerical information by a microelectronics-based combination of computing and telecommunications...
systems.
atom is an acronym for ‘any transaction on mobile.’
Products
Its products include- atom – This is a JavaJava (programming language)Java is a programming language originally developed by James Gosling at Sun Microsystems and released in 1995 as a core component of Sun Microsystems' Java platform. The language derives much of its syntax from C and C++ but has a simpler object model and fewer low-level facilities...
/Java ME based mobile paymentMobile PaymentMobile financial services, also referred to as mobile money, mobile payment, mobile banking, mobile money transfer and mobile wallet generally refer to payment services operated under financial regulation and performed from or via a mobile device....
applicationApplication softwareApplication software, also known as an application or an "app", is computer software designed to help the user to perform specific tasks. Examples include enterprise software, accounting software, office suites, graphics software and media players. Many application programs deal principally with...
which enables consumersConsumerConsumer is a broad label for any individuals or households that use goods generated within the economy. The concept of a consumer occurs in different contexts, so that the usage and significance of the term may vary.-Economics and marketing:...
to payPaymentA payment is the transfer of wealth from one party to another. A payment is usually made in exchange for the provision of goods, services or both, or to fulfill a legal obligation....
for services or products sold by merchants using a credit cardCredit cardA credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services...
and a mobile phoneMobile phoneA mobile phone is a device which can make and receive telephone calls over a radio link whilst moving around a wide geographic area. It does so by connecting to a cellular network provided by a mobile network operator...
.
- atom IVR – This is an IVR based payments solution which enables remote payments over the phonePhoneWithin phonetics, a phone is:* a speech sound or gesture considered a physical event without regard to its place in the phonology of a language* a speech segment that possesses distinct physical or perceptual properties...
by punching credit cardCredit cardA credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services...
details on any landlineLandlineA landline was originally an overland telegraph wire, as opposed to an undersea cable. Currently, landline refers to a telephone line which travels through a solid medium, either metal wire or optical fibre, as distinguished from a mobile cellular line, where transmission is via radio waves...
or mobile phoneMobile phoneA mobile phone is a device which can make and receive telephone calls over a radio link whilst moving around a wide geographic area. It does so by connecting to a cellular network provided by a mobile network operator...
keypadKeypadA keypad is a set of buttons arranged in a block or "pad" which usually bear digits, symbols and usually a complete set of alphabetical letters. If it mostly contains numbers then it can also be called a numeric keypad...
.
- atom Sewa – This is a microfinanceMicrofinanceMicrofinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
banking platformPlatform- Physical objects and features :* Diving platform, used in competitive diving* Jumping platform, naturally occurring platforms, or platforms made in an ad-hoc way for cliff jumping* Oil platform, a structure built for oil production...
that enables bankBankA bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
s and microfinanceMicrofinanceMicrofinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
institutions to offer on-the-spot cashCashIn common language cash refers to money in the physical form of currency, such as banknotes and coins.In bookkeeping and finance, cash refers to current assets comprising currency or currency equivalents that can be accessed immediately or near-immediately...
transactionsFinancial transactionA financial transaction is an event or condition under the contract between a buyer and a seller to exchange an asset for payment. It involves a change in the status of the finances of two or more businesses or individuals.-History:...
to the ruralRuralRural areas or the country or countryside are areas that are not urbanized, though when large areas are described, country towns and smaller cities will be included. They have a low population density, and typically much of the land is devoted to agriculture...
masses.
Security
The company’s paymentPayment
A payment is the transfer of wealth from one party to another. A payment is usually made in exchange for the provision of goods, services or both, or to fulfill a legal obligation....
platforms have been accredited for PCIDSS & PA-DSS
PA-DSS
The Payment Application Data Security Standard , formerly referred to as the Payment Application Best Practices , is the global security standard created by the Payment Card Industry Security Standards Council ....
certification
Certification
Certification refers to the confirmation of certain characteristics of an object, person, or organization. This confirmation is often, but not always, provided by some form of external review, education, assessment, or audit...
s which are accepted by the banking industry and hence ascertain the security of its mobile payment
Mobile Payment
Mobile financial services, also referred to as mobile money, mobile payment, mobile banking, mobile money transfer and mobile wallet generally refer to payment services operated under financial regulation and performed from or via a mobile device....
transactions and the transmission
Data transmission
Data transmission, digital transmission, or digital communications is the physical transfer of data over a point-to-point or point-to-multipoint communication channel. Examples of such channels are copper wires, optical fibres, wireless communication channels, and storage media...
of card holder data.
atom’s payment
Payment
A payment is the transfer of wealth from one party to another. A payment is usually made in exchange for the provision of goods, services or both, or to fulfill a legal obligation....
platform uses Advanced Encryption Standard
Advanced Encryption Standard
Advanced Encryption Standard is a specification for the encryption of electronic data. It has been adopted by the U.S. government and is now used worldwide. It supersedes DES...
128 Bit
Bit
A bit is the basic unit of information in computing and telecommunications; it is the amount of information stored by a digital device or other physical system that exists in one of two possible distinct states...
Cipher Block Chaining for routing
Routing
Routing is the process of selecting paths in a network along which to send network traffic. Routing is performed for many kinds of networks, including the telephone network , electronic data networks , and transportation networks...
transactions
Financial transaction
A financial transaction is an event or condition under the contract between a buyer and a seller to exchange an asset for payment. It involves a change in the status of the finances of two or more businesses or individuals.-History:...
using secure VPN connectivity. atom does not store any credit card
Credit card
A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services...
details but acts as a pass-through to the bank’s payment gateway
Payment gateway
A payment gateway is an e-commerce application service provider service that authorizes payments for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar. It is the equivalent of a physical point of sale terminal located in most retail outlets...
for routing
Routing
Routing is the process of selecting paths in a network along which to send network traffic. Routing is performed for many kinds of networks, including the telephone network , electronic data networks , and transportation networks...
transactions
Financial transaction
A financial transaction is an event or condition under the contract between a buyer and a seller to exchange an asset for payment. It involves a change in the status of the finances of two or more businesses or individuals.-History:...
.
Partnerships
atom has tie-ups with major bankBank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
s apart from credit card
Credit card
A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services...
companies like Visa Inc., MasterCard
MasterCard
Mastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
and American Express
American Express
American Express Company or AmEx, is an American multinational financial services corporation headquartered in Three World Financial Center, Manhattan, New York City, New York, United States. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. The company is best...
. The credit card
Credit card
A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services...
s of these bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
s & companies can be used to transact on the atom platform. More than 250 merchants have tied up with atom to provide these payment
Payment
A payment is the transfer of wealth from one party to another. A payment is usually made in exchange for the provision of goods, services or both, or to fulfill a legal obligation....
services.
Awards
- atom Technologies has won "The World is Open Award 2008" for excellence in the vertical of financial servicesFinancial servicesFinancial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
. This award was instituted by Red HatRed HatRed Hat, Inc. is an S&P 500 company in the free and open source software sector, and a major Linux distribution vendor. Founded in 1993, Red Hat has its corporate headquarters in Raleigh, North Carolina with satellite offices worldwide....
, in collaboration with Skoch Consultancy, to recognize the efforts being made by various industry segments such as banking, insuranceInsuranceIn law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
, financial servicesFinancial servicesFinancial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
and technologyTechnologyTechnology is the making, usage, and knowledge of tools, machines, techniques, crafts, systems or methods of organization in order to solve a problem or perform a specific function. It can also refer to the collection of such tools, machinery, and procedures. The word technology comes ;...
.
- atom Technologies has also won the IT People Awards for Product Innovation, 2008 which was instituted by IT People Ltd.
- atom Technologies' m-collection model deployed at Sahayata, a microfinanceMicrofinanceMicrofinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
institutionInstitutionAn institution is any structure or mechanism of social order and cooperation governing the behavior of a set of individuals within a given human community...
based in UdaipurUdaipurUdaipur , also known as the City of Lakes, is a city, a Municipal Council and the administrative headquarters of the Udaipur district in the state of Rajasthan in western India. It is located southwest of the state capital, Jaipur, west of Kota, and northeast from Ahmedabad...
, RajasthanRajasthanRājasthān the land of Rajasthanis, , is the largest state of the Republic of India by area. It is located in the northwest of India. It encompasses most of the area of the large, inhospitable Great Indian Desert , which has an edge paralleling the Sutlej-Indus river valley along its border with...
, has received the Network Computing EDGE award in 2009.