Rahaxi Processing to process China Unionpay transactions

FreeStar Technology, a card payments processor and technology company, has announced that its wholly owned subsidiary, Rahaxi Processing, has signed an agreement with Natixis Paiements to become the card processor of choice for China Unionpay transactions.According to the company, Natixis Paiements have chosen the Rahaxi Managed Network option, which allows the merchant an automated secure key exchange protocol for message and PIN encryption. The Rahaxi Managed Network performs checks fraud and rejects cards with invalid or expired details, or cards involved in suspicious activity.The compnay has said that Rahaxi Processing has put together a system that is flexible and exposes a reliable and comprehensive interface to the acquiring community. This lowers their barrier of entry to accept China Unionpay (CUP) cardholders at their merchant locations.Jose Perez, managing director of Rahaxi Processing, said: "When you factor in that Rahaxi is the only vendor in Finland having the highest security standards for Visa and MasterCard coupled with providing transactions for China Unionpay, you can see that we are aggressively moving our business plan forward to take advantage of market opportunities."