Press Release - For Immediate Release
Electronic Payments (EPI) Establishes Itself as a Discover Network® Acquirer
Calverton, NY – June 25, 2007 – Electronic Payments, Inc. (EPI) has distinguished itself as a solid and accomplished payment processing partner for sales agents and merchants nationwide. In addition to acquiring Visa® and MasterCard® transactions, EPI announced today their latest accomplishment – becoming a full-service Discover Network® transaction acquirer.
Under an agreement reached by Electronic Payments and Discover Financial Services, LLC, EPI will enable all merchants to accept Discover with no additional paperwork and will include the processing of Discover Network cards as a seamless add-on to its current suite of processing products.
By acquiring Discover Network transactions, EPI has positioned itself as a single-source provider for processing of all major card brands. Under the agreement, whose terms remain confidential, Electronic Payments, Inc. will provide processing services to merchants for Discover Network acceptance that promotes a broader range of payment options at the point-of-sale. Merchants such as restaurants, retailers, and specialty shops, will receive an easy, cost-effective, all-in-one payment processing solution with the convenience of a single source for statements, settlement, and customer service.
Electronic Payments will have full responsibility for pricing, processing, settlement, risk management and customer service for the Discover Network merchant accounts and EPI ISOs will earn Discover Acquirer Interchange on all transactions processed by EPI. In addition, Discover Network has also listed EPI on the Discover website among other leading acquirers at the following URL: http://www.discovernetwork.com/become/data/become.html.
“The move by EPI to be a direct acquirer of Discover Network transactions continues their approach of being able to offer merchants consolidated payment solutions,” according to Bob Kinsella, a representative from Discover Network. He continues, “EPI has consistently worked to position Discover as a main card-brand being offered for acceptance and we are excited to include Electronic Payments as one of the first full-service Discover Acquirers.”
Michael Nardy, founder and CEO of Electronic Payments, said on a company conference call with ISOs, “This move is the next logical step in our growth and will be a benefit to any ISO, MLS or merchant utilizing EPI as their preferred acquirer. Being able to offer a consolidated suite of payment products with a completely in-house operation has always been the goal of EPI and we have just completed yet another step in our growth as a full-service payment processor.”
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About Electronic Payments
With “Innovation through every transaction™”, Electronic Payments has distinguished itself as one of the fastest growing and highly regarded privately held payment and transaction processing companies in the United States. Electronic Payments currently serves businesses in all industry types and acquires new businesses through a network of agent banks, sales agents and independent sales offices (ISOs). Visit www.electronicpayments.com for additional information or visit www.bankcardprogram.com to learn more about our ISO and MLS programs.