Merchant E-Solutions Adds Account Updaters

Published June 16, 2009, 1:00 a.m. EDT

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Updated June 16, 2009, 12:00 a.m. EDT

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Merchant E-Solutions Inc., an e-commerce payment company, says it has added automated data-updating features from MasterCard Worldwide and Visa Inc. to its card products. Dubbed Account Updater by Visa and Automatic Billing Updater by MasterCard, the two services work similarly by checking consumer card information against a card-issuer database to update expiration dates, card verification codes and related information. Approximately half of all card accounts change annually in an issuing bank's portfolio, Merchant E-Solutions says. Some 668 million Visa-branded credit and debit cards were on issue in the United States as of the end of 2008, along with 389 million MasterCards. Redwood City, Calif.-based Merchant E-Solutions says the updating services will help merchants reduce the number of declined transactions.

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