RDATE:03112008
LONDON -- Fidelity National Information Services, Inc. (FIS), today
announced the launch of Transax Merchant Services - an aggressively
priced credit and debit card payment service designed to help
businesses improve their margins and quality of service at the point of
sale (POS). Transax Merchant Services is seen as an alternative to
credit and debit card services traditionally offered by banks and, more
recently, by small Independent Sales Organisations (ISOs) throughout
the U.K.
Built on its 22-year track record of helping merchants by making it
easier for their customers to pay and alleviating concerns about credit
risk, Transax Merchant Services is the next logical step in the
development of secure and safe credit and debit card transactions at
the point of sale.
"Merchants taking credit cards have traditionally used their own bank,
or one of a number of start-up ISOs, to provide them with a Chip and
PIN terminal," explained Ian Benn, managing director, FIS' Europe,
Middle East and Africa (EMEA) Payments division. "In return, the bank
levies a monthly charge, takes a percentage of the value of every
credit card transaction, and applies a fixed charge per debit card
transaction."
"Recently, the U.K. has seen a number of small start-up ISOs offering
similar services and positioning themselves as â??buying groups' offering
deals on a variety of business services as part of the monthly fee
structure," Benn continued. "The problem is that the merchants we speak
to see little or no value in these additional services, viewing them as
marketing packaging rather than real business benefits."
Transax Merchant Services provides a robust and reliable POS credit and
debit payment solution with five distinct benefits to merchants looking
to grow revenue and increase profits:
Lower charges than they are used to paying - every penny saved in
interchange fees is an extra penny of profit Minimised risk on
transactions, whether card-, cheque- or account-based Transparent
pricing model with none of the hidden miscellaneous or authorisation
charges that some other providers levy
Extra services to make it as easy as possible for the customer to pay,
from setting up a trade account to accepting a cheque more securely
with an instant payment warranty Simple-to-switch-on extras, such as
mobile phone top-up, cash-back, VAT refunds and payment in alternative
currencies
Transax merchants also have the added comfort of knowing that service
teams and call centres are based in the U.K. and Ireland, and therefore
available quickly, and at local call rates.
Transax Merchant Services' approach to the market is apparently finding
great favour among merchants in the U.K. Throughout a six-week pilot
programme, more than 100 businesses switched their payment acquiring to
Transax Merchant Services, citing the lower charges and the range of
payment options available from their new payment terminal as their main
considerations. Benn predicts this trend will continue, estimating the
number of Transax Merchant Services clients will approach 1,000 by the
end of 2008.
About Fidelity National Information Services, Inc.
Fidelity National Information Services, Inc. (NYSE: FIS), a Fortune 500
company, is a leading provider of core processing for financial
institutions; card issuer and transaction processing services; and
outsourcing services to financial institutions and retailers. FIS has
processing and technology relationships with 40 of the top 50 global
banks, including nine of the top 10. FIS is a member of Standard &
Poor's (S&P) 500(R) Index and has been ranked the number one overall
financial technology provider in the world by American Banker and the
research firm Financial Insights in the annual FinTech 100 rankings.
Headquartered in Jacksonville, Fla., FIS maintains a strong global
presence, serving more than 13,000 financial institutions in more than
80 countries worldwide.
CONTACT: Tony Martin, Portfolio Communications Ltd
Tel: +44 (0)20 7240 6959
e-mail:
tony.martin@portfoliocomms.com
Alex Moorhouse, Senior Account Executive, Portfolio Communications Ltd
Tel: +44 (0)20 7240 6959
Fax: +44 (0)20 7240 4849
e-mail:
alex.moorhouse@portfoliocomms.com
WWW:
http://www.portfoliocomms.com
Fidelity National Information Services
WWW:
http://www.fidelityinfoservices.com
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