Optimal Payment now a Visa and MasterCard Principle Member

Optimal Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term has received Principle Membership status from both MasterCard and Visa Europe.

Industry leading payment service provider Optimal Payments announced they have received principal membership status for merchant acquiring from both MasterCard and Visa Europe.

The new found status will allow Optimal Payments to acquire merchant accounts directly, without the need of an acquiring bank. Optimal Payments can now also process MasterCard and Visa transactions for their merchants throughout the EU. The ability to process transactions and acquire merchant accounts in-house will lead to larger margins and competitiveness for their NETBANX service.

"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 on-line payment processing. We are extremely excited about this accomplishment and are looking forward to the benefits that should materialize as a result." Joel Leonoff, president and CEO of Optimal Payments added.

In recent news, Allied Wallet also received Principle Membership status from Visa Europe.

Source