AssuredCredit | AssuredCard | Milinx | Maynard Dokken Universal Online Payment Gateway Technology Solutions
From the CyberCash of 1994 similar to PayPal of 2002, AssuredCard in 1994 with AssuredCredit with leadership of Maynard L. Dokken took online payment gateways to a whole new level. The genesis and development of the hosted online merchant payment gateway commenced in 1997 and was operable in 1999.
The only competitors were Confinity (PayPal), and Authorize.net. PayPal was still in pre-marketing mode 1999 to capture email addresses from interested parties. while AssuredCredit had operational terminals and a hosted online payment gateway by 1999. The PayPal application concept was added late 1999 and Confinity merged with X.com in March 2000. It was not until 2002 that it had an operational system with users for a peer-to-peer system. Years behind AssuredCredit and Milinx.
It should be noted that AssuredCard and Milinx started to acquire active customers long before PayPal was even operable. AssuredCredit was merchant operable even as on-premise pre-built system in 1997-1999.
The approach to online commerce by PayPal and AssuredCredit were completely different. PayPal was a person to person payment portal. AssuredCredit was an eCommerce Online Payment Gateway with Merchant & Financial Institution Registration. PayPal was delivering a system to transfer money between parties, AssuredCard and Milinx were already transacting credit card and cash transactions on a hosted platform. Authorize.net was developing its platform and had created a beta terminal based software similar to AssuredCredit in 1999. This terminal models was used by AssiredCard for AssuredCard customers in 1997.
PayPal was peer to peer in 2001. By 2001 Milinx had over 30,000 customers with a worldwide eCommerce solution. By late 2002 PayPal infringing on our patent and a new management team had taken over Milinx.
When Maynard L. Dokken filed the Client-Centered Secure-eCommerce or Online Merchant Payment Gateway patent along with his team it was an operational merchant payment gateway.
Integration of the scalable hosted version of ASPConnect, the universal interface for transactions had been engineered into the Milinx architecture with miBilling Shopping Cart, miCRM Customer Management and miStore eCommerce services and API's. The CRM was developed from the original version for AssuredCard in 1995
Milinx partnered with Heartland Financial to deliver its Online Merchant Accounts for its Online Payment Gateway using CreditAssure Financial.
AssuredCard was the beginning
We had discovered in the mid 1990’s how easy it was to access banking information and from that point forward our focus was security of customers data. Secure transmission using a private network had been the solution incorporated into the on-premise terminal. It left open session control as the concern.
After introducing a unique credit card product in 1994 Assured Card Corporation created AssuredCredit to develop a secure portal for online forms. This also helped us create a secure framework for the Online eCommerce Payment Gateway and Hosted Platform.
After the hosted prototype was added in 1998-1999 the team used a system to route the requests based on the digital address or numbers of the credit card or account to the financial institution for authorization, and transfer of funds to the merchant account.
With these advancements financial institutions and merchants could use a payment gateway to access online secure transactions. Customers would have secure financial information. Milinx was about to add next level security with PL/SQL SID 8i Shell Commands.
AssuredCredit was acquired by Milinx in 1999 through CreditAssure. We had researched security weaknesses and solutions in the early 1990’s as a result of the discovery of credit rating agencies Fitch Ratings, Moody’s, Standard & Poor’s poor understanding of session control. Systems were incredibly easily to exploit as the links were easy to copy and paste and download content. We knew something needed to change. Netscape was about to provide us a needed solution with Start TLS.
By 1999 as AssuredCredit parent Assured Card Corporation was merged into Milinx with Credit Assure Financial we had a session control security solution. We had an operational payment gateway. We kept looking at security solutions and added Biometric Threshold Security & Encryption.
The Online Web Portal was a very useful platform to test the viability of an Online eCommerce Payment Gateway. It was re-engineered many times including for the ASPConnect backend of Milinx. All the pieces were done. The first scalable and operational Hosted eCommerce and Merchant Payment Gateway was launched by Milinx in 2000-2001.
Maynard L. Dokken
First Merchant Payment Gateway | First Hosted Payment Gateway
The new On-Premise Online Payment Gateway and Hosted eCommerce Payment Gateway were the first operational Universal Merchant Payment Gateways.
Creation of CreditAssure Financial as the affiliate for the Milinx Payment Gateway
Heartland Payment Systems announced an agreement to enable online credit card payments for e-commerce clients hosted by Milinx Business Group, Inc., a leading Application Service Provider. Through this alliance with Milinx subsidiary CreditAssure Financial, Inc., customers of Milinx were able to apply online for Merchant Accounts and receive swift service plus competitive rates.
Accepting credit card payments online is critical for companies seeking e-commerce solutions. By choosing Heartland Payment Systems, Milinx will be able to provide all the necessary tools for its clients to set up a merchant account and accept secure transactions online. Heartland will provide Milinx a secure online process that is expected to allow the ASP’s customers to be approved in as little as two hours from the time of application without providing a ‘wet’ signature for the account. Heartland expects to authorize more than 90 per cent of the online applications it receives from Milinx clients through CreditAssure.
Milinx will provide its customers with great value by offering a Heartland program that will save them the time and money associated with opening a merchant account. The two companies will also share the revenue from their agreement.
“This alliance allows Milinx to move closer to offering a one stop solution for their customers,” said John Waldron, Vice President of Internet Marketing and Sales with Heartland Payment Systems. “It is a real pleasure to have been selected by Milinx to provide their customers with such a critical piece of the e-commerce puzzle.”
“Milinx built its Application Data Center to handle hundreds of thousands of clients including e-commerce customers,” said Milinx President and CEO Maynard L. Dokken. “We chose Heartland Payment Systems because they can provide high levels of service, security and flexibility as our e-commerce clientele grows.”
About Heartland Payment Systems
Heartland Payment Systems provides businesses of all sizes with professional, one-stop solutions for payroll processing, traditional and Internet card processing and fraud prevention and protection programs. Heartland Payment Systems began in May 1997 as Heartland Card Services, LLC and has rapidly grown to become the 15th largest merchant acquirer in the US, as well as the largest, privately held merchant acquirer.
About Milinx
Milinx Business Group, Inc. (OTCBB: MIXBA) is an Application Service Provider (ASP) which hosts and delivers software to businesses over the Internet on a subscription basis. This minimizes spending on software and hardware while speeding the implementation of new solutions. Milinx is a Delaware corporation with headquarters in Seattle, Washington and operations in Vancouver, BC.