First Data, Canada's VersaPay in global payment processing pact
In the first place, Data and VersaPay go into a worldwide installments facilitator organization.
Through the agreement, Canadian fintech organization VersaPay will utilize First Data Global PFAC arrangement, empowering it to help exchanges in excess of 150 monetary standards around the world, settling in 17 unique monetary forms.
VersaPay exchanges on the TSX Venture Exchange under the ticker "VPY"
TORONTO, May 25, 2018 /PRNewswire/ - VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce it has entered into a Global Payments Facilitator partnership with First Data (FDC-OLD)
As the global leader in payment technology and services operating in more than 100 countries, First Data serves over 6 million customers – the largest customer base in the payments industry – and handles 45% of all credit and debit card transactions in the US.
"We are excited about this partnership and the additional value it brings to our clients," stated Craig O'Neill, CEO of VersaPay. "Working more closely with First Data enables VersaPay to offer market-leading card processing capabilities seamlessly integrated with ARC, fast and simple onboarding for ARC clients, and ultimately, support for transactions in more than 150 currencies worldwide, settling in 17 different currencies."
"We are pleased to be working with companies like VersaPay to provide them with the technology to achieve global scale and to drive payment acceptance through the First Data Global PFAC solution," said Shane Fitzpatrick, global head of eCommerce at First Data. "This is an excellent example of how First Data leverages its capabilities to offer a truly global payments experience for VersaPay customers."
About First Data
First Data (NYSE: FDC) is a global leader in commerce-enabling technology and solutions, serving approximately six million business locations and 4,000 financial institutions in more than 100 countries around the world. The company's 22,000 owner-associates are dedicated to helping companies, from start-ups to the world's largest corporations, conduct commerce every day by securing and processing more than 3,000 transactions per second and $2.4 trillion per year.
VersaPay is a Fintech company and leading provider of cloud-based invoice-to-cash solutions, enabling businesses to provide a superior customer experience, get paid faster, streamline financial operations, and dramatically reduce DSO and costs. VersaPay ARC is the new standard in accounts receivable and collections management with a customer self-service environment to view invoices online, collaborate on inquiries and disputes, and facilitate secure online payments (EFT/ACH and credit card). Businesses gain access to a suite of powerful tools that enable efficient collections, cash application and real-time insight into accounts receivable. VersaPay ARC automatically reconciles payments and account information through integrations with a wide range of ERPs and accounting software providers.
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