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.
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.
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.”
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