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Merchant Solutions Enables Tens of Thousands of Asian Businesses to Accept Electronic Payments in First Year
First Data-Standard Chartered Bank Alliance Allows Even Asia's Small Businesses to Accept Card Payments In-Store, Online or by Phone and in Local and Foreign Currencies
SINGAPORE, Nov. 19 /PRNewswire/ -- Merchant Solutions, a joint venture between global electronic payments processor First Data and Standard Chartered, marked its first anniversary on November 19 with tens of thousands of merchants signed with Standard Chartered across nine Asian markets.
Merchant Solutions equips businesses, large and small, with point-of-sale (POS) terminals and other products and services to enable them to accept card payments.
Despite high penetration of financial cards, the bigger story for Hong Kong businesses is China: as cross-border economic integration brings more mainland visitors carrying China Union Pay cards, businesses equipped with Standard Chartered's CUP acceptance facility will be especially well positioned to capture sales.
"We are on the cusp of a real explosion in electronic payments," said Merchant Solutions CEO and Managing Director Sean Hesh. "Card transactions skyrocketed over the year -- and our mission is to ensure that Asian businesses are equipped with the tools to accept the widest possible range of card payments."
"With our growing presence across nine markets in Asia in our first year, I'm pleased to say our message is getting through. Coverage now extends to Bangladesh, Brunei, Hong Kong, India, Macau, Malaysia, Singapore, Sri Lanka and China."
By automating record keeping, eliminating cash handling and speeding up transactions, electronic payment facilities not only attract more business, they free merchants to focus more on selling.
During the past year, Merchant Solutions has rolled out a stream of products and services to help businesses capture more card payments. This includes the latest range of terminals from VeriFone, Spectra and Hypercom, and an Internet payment solution developed by Direct Payment Solutions (DPS) that can turn any Internet-ready computer into a POS device. The merchant acquiring products on offer also let merchants add payment gateways to their Web sites; simplify recurring billing using a batch processing tool; and a Dynamic Currency Conversion function that enables merchants to accept foreign currency payments.
In addition, Merchant Solutions offers MICROS Payment Gateway (News - Alert), developed by MICROS Systems, an integrated property management system for diversified operations like hotels, which manages all customer services and on and off-line payments in one system, eliminating the hassles of separate service and payment systems.
About Merchant Solutions: For more information about Merchant Solutions Pte Ltd, please visit http://www.merchant-solutions.biz . (For more information about parent companies: http://www.firstdata.com and http://www.standardchartered.com )
For more information:
Sandra Pang
Pronto Communications
Tel: +852-2540-6872
Email: prontopr@pacific.net.hk
SOURCE Merchant Solutions
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