The Green Sheet Online Edition
October 24, 2011 • Issue 11:10:02
A complete online payment center
TransFirst LLC recently introduced Transaction Express, a proprietary payment gateway and virtual POS terminal that promises a complete online payment processing experience for retail, e-commerce, MO/TO, government, membership organization, utility and health care enterprises.
"Transaction Express gives TransFirst the opportunity to offer its customers true virtual terminal functionality, with stronger stability and scalability, greater feature options, and a more nimble, customizable experience for the user," said John Shlonsky, TransFirst President and Chief Executive Officer.
TransFirst reported that Transaction Express delivers real-time payment processing on most Internet connected devices. It also offers a multimerchant and multiuser platform, web integration, batch processing and direct swipe via USB connection.
Its customized reporting provides up to five user-defined fields to drive reports. Among its other features are advanced merchant grouping capabilities with single sign-on, merchant and customer email management, and tokenization for one-time and recurring payments.
"Transaction Express can process swiped retail transactions through its virtual terminal or through a customer integration using its web services," the company noted.
Not only does it process all major credit card brands, but signature debit card transactions can be processed as well. TransFirst also reported that future enhancements will include PIN debit, automated clearing house transactions and mobile payments.
"On our side of the transaction, it puts us in the position of having a true front-end, with the freedom and flexibility to work directly with the card associations and keep more control over our business," Shlonsky said.
Transaction Express is also designed to offer merchants a high degree of user control. During the off-season, merchants may switch their Transaction Express accounts to an inactive status to control costs.
The company suggests setting up individual accounts for each legal entity or business location and based on the input type, whether it's from the merchant or customer side.
TransFirst noted that Transaction Express supports both manual and automatic transaction capture. Manual transaction capture allows merchants to flag which transactions to include in settlement, whereas automatic capture includes all transactions in settlement.
According to TransFirst, the gateway is fully Payment Card Industry (PCI) Data Security Standard (DSS) compliant and Payment Application DSS certified.
The company also pointed out that to help merchants qualify for the best possible rates and processing fees, Transaction Express supports corporate and purchase card transactions with purchase order numbers, tax amounts and tax indicator information.
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