Alaska Option, a US-based master debit switch, has licensed S1 Corporation's payments solution for its EFT switch and processing platform.

Alaska Option selected the open-systems architecture from S1 to replace its current system which has been in place since 1998.

John Shipe, president of Alaska Option, said: “After an extensive evaluation process, we selected the S1 Payments platform because it demonstrated that it could satisfy our requirements for reliability and scalability, provide cost savings and most importantly, allow Alaska Option to quickly and effectively roll-out new services to our customers.”

Johann Dreyer, CEO of S1, said: “After carefully reviewing the competition, Alaska Option’s decision to select the S1 Payments solution reinforces our proven, market position as a leader in open-systems platforms for financial services. The Alaska Option relationship represents continued momentum for S1 in replacing legacy payments systems around the world.”

S1 Corporation is a global provider of payments and financial services software solutions.