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Member News
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Global Payments Asia-Pacific Finalizes its Joint Venture Expansion into the Philippines |
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Atlanta September 04, 2008 – Global Payments Inc. (NYSE: GPN), a leading provider of electronic transaction processing solutions, announced today that its Asia-Pacific joint venture with The Hongkong and Shanghai Banking Corporation Limited (“HSBC”), Global Payments Asia-Pacific, has completed its agreement to expand into the Philippines to provide payment processing services to merchants.
“We are excited to complete the expansion of our joint venture with HSBC in the Asia-Pacific region, and can now offer merchants in the Philippines our comprehensive processing solutions,” said Global Payments’ President of Worldwide Processing, Carl Williams. “Global Payments Asia-Pacific now provides payment processing services to merchants across eleven countries and territories of Brunei, the Hong Kong SAR (Special Administrative Region), India, the Macau SAR, mainland China, Malaysia, Maldives, Singapore, Sri Lanka, Taiwan, and the Philippines.”
“We intend to continue to execute on our commitment to aggressively grow the payment processing market in the Asia-Pacific region,” said Ian Courtnage, managing Director for Global Payments Asia-Pacific. “We would like to welcome the customers and employees of HSBC Philippines and look forward to leveraging our technological expertise to provide advanced products and services in the country,” Courtnage continued.
Under the terms of the agreement announced at the end of July, Global Payments Asia-Pacific paid HSBC approximately $20 million in cash based on current exchange rates. Global Payments’ cash obligation for the acquisition equating to its 56 percent ownership interest in the joint venture was approximately $11 million. The Philippines will also be added to the current ten-year marketing alliance agreement, in which HSBC refers new merchant customers exclusively to the joint venture for payment processing services.
The transaction is expected to be slightly accretive to Global Payments’ diluted earnings per share in the first year.
Global Payments Inc. (NYSE:GPN) is a leading provider of electronic transaction processing services for consumers, merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi-national corporations located throughout the United States, Canada, Latin America, Europe, the United Kingdom, and the Asia-Pacific region. Global Payments offers a comprehensive line of processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery including electronic check services, as well as terminal management. The company also provides consumer money transfer services from the United States and Europe to destinations in Latin America, Morocco, and the Philippines. For more information about the company and its services, visit www.globalpaymentsinc.com.
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RapidAdvance And Trisource Solutions Meet Small Business Financial Needs With Business Loan Alternat |
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RapidAdvance, LLC, a leading provider of merchant cash advances in the US, UK and Canada, has partnered with TriSource Solutions, LLC to bring small and mid-sized business owners an alternative financial solution to a traditional business loan. TriSource Solutions, a full-service merchant processing company known for delivering a wide variety of cost effective solutions to their customers, will now assist business owners in securing the working capital needed to expand their business, purchase new inventory, purchase new POS systems, leverage a seasonal opportunity or reduce other financial obligations.
“Our partnership with TriSource Solutions will bring business owners the funding they need to maintain a healthy and successful operation,” said RapidAdvance President and COO Jeremy Brown. “We know that by working together, we’ll be able to reach more business owners with the working capital they might not be able to obtain from a bank loan. TriSource Solutions has a reputation for delivering outstanding products and service and we believe our program is a natural fit with their customers.”
“TriSource Solutions is proud to add RapidAdvance’s Merchant Cash Advance program to our suite of services that we now offer to merchants,” said Tom Dunn, President of TriSource Solutions. “RapidAdvance’s reputation for exceeding customer expectations makes us confident that our customers and sales agents will find significant value in this merchant cash advance offering.”
Different than a traditional business loan, RapidAdvance’s merchant cash advance is a simple solution that purchases a fixed portion of the business owner’s future credit card receivables at a discount. The business owner receives a fixed dollar amount now for a small fixed percentage of their future credit card transactions.
Repayment of the merchant cash advance is simple. RapidAdvance gets repaid through a small percent of the merchant’s future credit card sales. When a credit card sale is completed, an agreed upon percentage is automatically transferred to RapidAdvance until the contract obligation has been satisfied. By tying the repayments directly to a small portion of the merchant’s future credit card receivables, the repayment is directly linked to the merchant’s success: RapidAdvance gets paid when the merchant gets paid. Unlike a loan, merchant cash advances are unsecured, and have no business-use restrictions. Typically, 80% of applicants are approved, and once approved, funds generally reach the business owner’s bank account within seven to 10 business days.
About RapidAdvance
RapidAdvance, based in Bethesda, Maryland, is a leading provider of merchant cash advances to small and mid-sized business owners looking to obtain additional working capital. Merchants use RapidAdvance’s service to fund expansion, purchase equipment and inventory, pay off debt or leverage a seasonal opportunity. Funding is quick and easy and does not require the traditional guarantees, liens or collateral associated with bank loans. For more information about RapidAdvance’s business funding solutions, please call 877.467.2743 or visit http://www.RapidAdvance.com.
About TriSource Solutions
TriSource Solutions, based in Davenport, Iowa is a full-service merchant processing company for Independent Sales Organizations (ISOs), Independent Sales Agents (Agents), Merchant Level Salespeople (MLS) and Agent Banks. Whether you need a pure processing relationship, or a full-service outsourcing solution, TriSource Solutions can meet the needs of your business. For more information about TriSource Solutions’ economical and highly reliable merchant processing services, please visit http://www.TriSourceSolutions.com.
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Phoenix Launches New Site |
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In its final step towards total transformation,
Phoenix Merchant Processing announced today it has introduced a new website to
showcase offerings, support operations and efficiently manage merchant accounts. The
website can be found at www.choosephoenix.com.
The website represents the culmination of Phoenix Merchant Processing’s
metamorphosis from challenging origins to its current status as one of the fastest growing
ISOs in the industry. Phoenix has successfully reinvented itself as one of the most
reputable organizations in the payment processing arena, placing ethics and transparency
at the top of its list of core values. Customer service and technical support are also the
cornerstones of Phoenix Merchant Processing’s effective strategy that has resulting in
unprecedented growth for the company.
“Our new website is a testament to the outstanding efforts of Phoenix Merchant
Processing’s entire team,” says Jim Keller, CEO of Phoenix. “With state-of-the art
visuals and advanced technology, www.choosephoenix.com will enable our sales partners
and merchants to access all aspects of the restructured company, as well as keep them
informed of new products, services and opportunities.”
* * *
About Phoenix Merchant Processing
Phoenix Merchant Processing is a registered ISO/merchant acquirer based in Portland,
Oregon and servicing nearly 2,500 national retail merchants. As a full-service provider,
MPI offers a comprehensive suite of electronic payment solutions that include credit,
debit, check/ACH processing, loyalty/gift card programs and MOTO/Internet gateway
services. For more information, visit www.choosephoenix.com |
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Clearent Announces a New Partnership for Zions Correspondent Banking Clients |
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Clearent LLC announces a new relationship with Zions Bank Correspondent Banking Group to provide a full suite of merchant services payment products for community banks.
The payment landscape can be a confusing, complex place for financial institutions to operate in. Bringing concise, knowledgeable and bottom line focused expertise and technology is essential. And that’s precisely what the Clearent and Zions partnership does.
Through the merchant services relationship with Clearent, Zions’ correspondent banks will receive comprehensive, electronic payment options and straightforward, personalized support. They will also have access to best-in-breed technology.
“With the right program, merchant services not only adds real value to the bottom line, it can also open doors to new relationships and strengthen current ones,” says George Baker, sales manager for Zions CBG.
The new program features technology that provides correspondent banks and their merchants fast, easy access to data 24/7 from any Web-enabled computer. Self-service merchant tools enable the merchant quick access to the information they need, when they need it. Zions correspondent clients will have access to key data that, at a glance, will help them spot trends, new opportunities and potential risks not only to their merchant services business but to their larger relationships with their commercial accounts.
Dan Geraty, CEO of Clearent says, “We are truly excited about our partnership with Zions Correspondent Banking Group. Zions’ philosophy of integrity and bringing the best possible solutions to community banks is also the business model that Clearent has been built on. We look forward to supporting Zions and their correspondent banks for many years to come.”
To find out more, contact Dan Geraty at 314.732.0520 or George Baker at 801.844.7875. |
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Ingenico Gets Class A Designation for EMV Terminals |
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Ingenico, the world's leader in secure transactions and payment solutions, announced today that they have received Class A certification for their payment transaction terminals running the new EuroPay MasterCard Visa (EMV) application created for Chase Paymentech Solutions. The Ingenico i3070, i5310 and i7780 terminals, running the EMV application, will allow Chase Paymentech merchants to accept chip-enabled credit cards. These credit cards contain a small microchip that securely stores encrypted data using sophisticated security programs. Cardholders must enter a PIN at the time of purchase to complete a transaction. This "chip and pin" combination provides a much higher level of protection against unauthorized or fraudulent use of a credit card.
"Chase Paymentech's certification of the Ingenico terminals is another example of Chase Paymentech's ongoing commitment to provide advanced technological solutions to its merchants and partners in Canada," said Paul Browne, VP, Operations for Chase Paymentech Solutions. "As the Canadian payment card industry moves towards chip technology, the EMV standard will provide an even more secure payment environment; assist in reducing card fraud and increase security of card transactions."
"The requirement for PIN entry on credit card purchases is changing the way restaurants manage card acceptance," said Lisa Shipley, Sr. VP, Sales & Marketing, Ingenico North America. "Restaurants are now beginning to use Ingenico's portable and secure payment terminals, allowing the server to bring the transaction directly to the customer. Our product offerings provide a number of solutions that fit many needs, and the software and certification from Chase Paymentech ensure that each transaction is not only convenient, but safe and secure."
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