LONDON, MONTREAL and NEW YORK | Optimal Payments, a leading global online payment solutions provider, today announces that it has obtained principal membership status for merchant acquiring from MasterCard® Europe and Visa® Europe.
Merchant Acquiring Agreements
The new merchant acquiring agreements are consistent with Optimal Payments' strategy to strengthen and differentiate its products and follow the December 2012 announcement that principal membership had been obtained from MasterCard for card issuance.
No Need for an Acquiring Bank
The agreements with MasterCard Europe and Visa Europe will allow Optimal Payments to directly acquire merchant accounts without the need for an acquiring bank, and process Visa and MasterCard payment transactions in the UK and the European Union for Optimal Payments' merchants. This is expected to lead to improved margins and competitiveness for the NETBANX® offering.
'More competitive framework'
Joel Leonoff, president and CEO of Optimal Payments, commented: "Becoming a principal member of both payment schemes in Europe will help to increase market penetration and maximize our profitability in one of our key markets by providing us with a more competitive framework and further underlining our leading position in global online payment processing. We are extremely excited about this accomplishment and are looking forward to the benefits that should materialize as a result."
About Optimal Payments Plc
Optimal Payments is a global provider of online payment solutions. Trusted by businesses and consumers in over 200 countries to move and manage billions of dollars each year, merchants use the NETBANX® processing service to simplify how they accept and settle credit card, direct-from-bank, and cash payments; and the NETELLER® payment service to increase margins, capture new customers and increase their lifetime value. Being an independent provider has allowed the company to support tens-of-thousands of merchants around the globe across a wide range of industries. Optimal Payments Plc is quoted on the London Stock Exchange's AIM market, with a ticker symbol of OPAY. Subsidiary company Optimal Payments Ltd is authorised and regulated as an e-money issuer by the UK's Financial Conduct Authority (FRN: 900015). For more information on Optimal Payments visit www.optimalpayments.com or subscribe at www.optimalpayments.com/feed or follow us on Twitter @optimalpayments
Sourced from Optimal Payments, January 9th 2014