U.S. Wireless Data, Inc. , the leader in applying wireless technology to the payments industry, and Paymentech, a leading acquirer of bankcard transactions in the United States, announced this morning a two-year transaction processing agreement. Under the terms of the agreement, Paymentech will offer high-speed credit card authorization services utilizing USWD’s Wireless Express Payment Service to new and existing merchants of Paymentech. The new transaction processing service will be marketed through Paymentech’s direct sales force, independent sales organizations, and agent bank relationships.
Paymentech’s ISO and bank clients have intensified efforts to meet merchant demand for wireless solutions. Targeted retail markets include quick service restaurants, parking garages, stadiums/arenas, ground transportation, mall kiosks, and delivery services. Paymentech is the second largest processor of bankcard transactions in the United States, processing over 2 billion transactions annually. Paymentech provides total point-of-sale transaction processing and settlement services for ISOs and member banks.
“Wireless card processing is a differentiating factor for Paymentech as our clients look to us for market leading solutions,” said George Wilcox, group manager for product development at Paymentech. “The depth of functionality and the range of equipment and services from Wireless Express Payments Service(SM) adds tremendous value to Paymentech’s product portfolio.”
USWD chairman and chief executive officer, Dean Leavitt stated, “We are extremely excited to have a world class organization like Paymentech as one of our WEPS partners. It is now becoming abundantly clear that the acquiring industry is demanding new technologies to source merchant accounts and penetrate new markets. We see this announcement as a strong endorsement of our technology, service, and distribution strategy.”
WEPS is a comprehensive suite of wireless transport services and server technology designed to deliver payment transactions securely and efficiently from merchants to payment processors. The high-speed WEPS service supports encryption, real-time diagnostic capability, and real-time reporting through Internet capabilities.
One feature of the WEPS service is the ability for merchants and merchant acquirers to access terminal, account, and transaction information via a secure Internet web site. This feature represents a major advance in the goal to provide merchant acquirers with a rich set of customer support tools. It also provides merchants with a user-friendly method for directly managing their card processing information.
The Intellect 9770 is the first device in the family of WEPS-enabled wireless terminals that has been designed specifically for the handheld environment. The fact that the Intellect 9770 has been certified for WEPS using the nationwide coverage of the ARDIS packet radio network places the device perfectly in the taxi/limousine, delivery, and fine dining restaurant segments. The WEPS version of the Lipman 2090 payment terminal significantly extends the capabilities of the Lipman line. The quality and usability of the Lipman 2090, combined with the speed of card transactions on WEPS, make this device ideal for fast food applications
About U.S. Wireless Data, Inc.
U.S. Wireless Data, Inc. ( [http://www.uswirelessdata.com] ) is the leader in applying wireless technology to the payments industry. Through the use of its proprietary technology, software, carrier relationships, and front-end authorization and capture capability, USWD enables merchant acquirers to provide their customers with the fastest and most cost-effective transaction processing solutions in the industry today.
Paymentech ([http://www.paymentech.com]), founded in 1985, provides full-service electronic payment solutions in merchant acquiring and third-party transaction processing. The company processes approximately 2.5 billion bankcard transactions and $75 billion in sales volume annually. Paymentech is the second largest processor of bankcard transactions in the United States.