DENVER - First Data Corp. said Wednesday that it plans to incorporate the services of Achex Inc., the business-to-consumer Web payment business it bought in July, in MoneyZap, the person-to-person service it offers through its Western Union subsidiary.
MoneyZap will continue to handle P-to-P transactions, but will add a B-to-C service that businesses could integrate into their payment options, the company said.
First Data said it bought Achex to meet the growing need for online B-to-C payments. Known for its online checking account-based payment service, Achex's technology uses the Internet and other payment networks to transfer funds online.
"The MoneyZap service combines the trusted and well-known Western Union brand, the payment expertise of First Data, and the robust Achex platform for superior merchant functionality," said Elaine Bolle, the president of Achex.