Paymentech Helping Merchants Avoid Fraud Losses, Increase Currency Acceptance Options
DALLAS, — Aug. 4, 2003—Dallas-based Paymentech, a payment processor, is offering Internet and catalog merchants and other retailers that process transactions in a non face-to-face environment additional ways to reduce fraud and even more ways to accept transactions made with U.K. and Japanese credit and debit cards.
A new fraud management tool called Merchant Selectable Response is now available through Paymentech's Orbital(TM) suite of ebusiness solutions, which allows merchants to establish automated, secure online transaction processing in a true one-stop-shop environment.
The Merchant Selectable Response feature enables merchants to set automatic acceptance or rejection parameters for payments based on a combination of authorization codes, address verification and card number verifications for a transaction. And Merchant Selectable Response is customizable merchants can select which combination of verification codes they would like to receive and they can change that selection at any time.
UK and Japanese Currency Options
In addition to the new fraud management tools, now merchants who use Virtual Terminal part of Paymentech's Orbital suite of products to process transactions via the Internet can accept UK Switch and Solo Cards, both widely used in England, as well as Japanese YEN American Express, Visa and MasterCards.
This is going to open up numerous revenue streams for our customers, said John Shirey, Paymentech's Product Development Group Manager. The U.K. Switch and Solo cards are actually more widely used by consumers in England than either Visa or MasterCard.
Because e-commerce continues to bring the world closer together, the demand to accept foreign currencies has increased exponentially in the last year, and we feel it's our job to make sure our merchants have what they need to run their businesses more efficiently.