Accesspoint Corporation , continuing its commitment to be the premier provider of transaction engines that power an e-commerce industry projected to reach trillions of transactions worldwide, announced that it has launched the beta testing phase for its on-line bill presentment and Electronic Funds Transfer projects.
It is anticipated that upon certification of the EFT project utilizing the Automated Clearing House (ACH) network, Accesspoint’s merchants/clients will be able to accept payment by check over the Internet.
“Integrating electronic funds transfer into our award-winning Transaction Manager and Merchant Manager Enterprise products will represent a major step in providing our customers with the ability to tap into the growing market of non credit card-based Internet transactions,” said George Taggart, COO of Accesspoint. “Our success and profitability is driven by our ability to provide our merchants and clients with every conceivable payment option. Both the business-to-business and business-to-consumer market segments clearly indicate that on-line payment by check is an option that continues to grow in acceptance and thus we are responding quickly to facilitate its implementation,” added Taggart.
The National Automated Clearing House Association (NACHA) estimates that total ACH transactions will grow from a reported 4.5 trillion in 1997 to more than 8 trillion transactions by the year 2002. Specifically, the on-line bill presentment/EFT program is expected to lead to increased revenues for Accesspoint’s on-line merchants/clients who will be able to do business with customers who don’t own credit cards or would prefer to limit their usage. The program will also lead to a reduction of paperwork through more efficient models of purchase ordering, invoicing, and fulfillment.
Accesspoint’s EFT program is only the latest in a series of key initiatives implemented by the expanding Internet e-commerce company. In the last month alone, Accesspoint received certification from Nova Information Systems, Inc. (NYSE:NIS; NOVA) for high speed internet based credit card processing on the NOVA platform; and the company became certified for Level III business-to-business purchase card transactions with the National Data Corporation (NDC), the first processor to be certified for Level III purchase card transactions with all three major credit cards, Visa(R), MasterCard, and American Express (NYSE: AXP).
Accesspoint provides its national and international business clients a comprehensive and turn-key range of Internet e-commerce services allowing businesses of all sizes to implement profitable on-line Internet strategies without having to support the in-house technology and infrastructure normally required. Accesspoint adds to its own technology and software infrastructure the use of superior network technology from industry pacesetters such as Exodus Communications (Nasdaq:EXDS), Oracle (Nasdaq:ORCL), Sun Microsystems (Nasdaq:SUNW), Cisco Systems (Nasdaq:CSCO), Foundry Networks (Nasdaq:FDRY), and Network Appliance (Nasdaq:NTAP).Details