SafeCharge Develops the US Market with New Chase Partnership

London Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term listed 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 services provider SafeCharge (LSE: SCH) has announced a new partnership, which will allow it to process payments in the United States through Chase.

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Through the partnership, SafeCharge merchant customers will benefit from card processing under US domestic conditions. For the end consumer, this means a smoother payment experience and a greater likelihood of a transaction being accepted.

“The US is one of the biggest markets in the world. The Federal Reserve estimates that US credit and debit card payments were worth almost $6 trillion in 2016.There’s a growing requirement from both consumers and merchants to accommodate cross-border payment acceptance, boosting conversion and enhancing the customer experience,” said David Avgi, CEO, SafeCharge.

Chase serves more than 250,000 merchants and 560,000 locations across the United States. The company processed 16.88 billion transactions in 2016 and this, according to Nilson, makes it the third largest acquirer in the US, representing around 20% of the market.

SafeCharge’s proprietary payments platform includes a gateway, a card issuer and an acquirer itself meaning that it connects directly to all the major card brands around the world including Visa, MasterCard, American Express and China Union Pay.

Bank in March SafeCharge released its final yearly results for 2016. The figures showed a strong financial performance year-over-year with core revenues growing 11% to $101.5 million, EBITDA (at constant currency) increasing by 14% to $35.3 million, and cash balances at year end remaining stable at $115.4 million. The excess free cash flow is offloaded to shareholders via the dividends which grew by 46% to 16.47 $c.