MELVILLE, NY February 27, 2002 The world of e-payments might have been scary territory for a while, but many companies are starting to find that e-payment is not as wild a ride as they had thought. One company making the ride smoother is Huntington Merchant Services, LLC, an alliance between Huntington Bank and First Data Merchant Services. The company announced today that they have signed a multi-year payment processing agreement with Cygnus Entertainment. Cygnus is a provider of remote ticketing and reservation solutions to businesses such as theme parks, attractions, cruise lines, sightseeing companies, theatres, restaurants and golf courses.
The agreement allows Cygnus Entertainment to provide a full range of merchant payment processing services, including credit and debit card acceptance. This is the first electronic payment program implemented by Cygnus that covers the entire range of services for a diverse merchant base of entertainment, travel and hospitality clients. No additional terms of the agreement were disclosed.
"Cygnus serves a variety of high profile, high volume partners in the entertainment businesses segment, and our goal was to implement a payment solution that would adapt appropriately to our clients' business needs. Integrating the Huntington-First Data Merchant Services solution allows us to provide for the demands of different payment options in a cost advantaged manner while providing a secure and efficient infrastructure," said Jeff Johnson, chief executive officer at Cygnus Entertainment. "This seamless solution is provided in real-time for our ticketing partners yielding a distinct advantage in the marketplace. The single source financial processing in a cost effective manner with improved fraud management only adds to the Cygnus advantage."
For more information on e-Payment, read Taking the Pain Out of e-Payment at http://www.isourceonline.com/article.asp?article_id=2321 or see our Global Enabled Supply Chain article on e-Payment at http://www.isourceonline.com/article.asp?article_id=2271