News from the Wire

CRE Secure secures $3.18 million in investor funding

Monday, August 09, 2010 — 13:03:36 (EDT)

Atlanta, Aug. 9, 2010 -- CRE Secure, the industry’s first cloud-based, elegantly designed, secure payment solution for online merchants, announced today that it has secured more than $3.18 million in Q1 funding from Total Technology Ventures, Miller Capital Partners I and several angel investors.

The latest round of financing is part of an influx of funding secured by the company since its founding in 2008. It comes at a time when demand for CRE’s PCI-compliant payment acceptance service has surged due to the approaching Oct. 1, 2010 deadline when new online retailers will no longer be allowed to host credit card transactions in non PCI-approved environments; those that are not compliant can be fined, have their transaction fees raised, or have their merchant accounts frozen.

“CRE Secure exhibits the unique business proposition and exceptional growth opportunity that Total Technology Ventures looks for in its investments,” said Sean Banks, principal at Total Technology Ventures. “CRE provides the only bank-independent and gateway-agnostic hosted payment acceptance platform in the world, which directly addresses the PCI DSS compliance needs of a market worth more than $1 billion.”

CRE Secure’s service enables merchants to achieve full PCI DSS (Payment Card Industry Data Security Standards) compliance relative to their processing of card payments online. These standards were enacted by the world's major credit card companies in response to the growing number of expensive data breaches.

“This successful round of financing validates the practicality and effectiveness of our patented technology,” said Greg McGraw, CEO of CRE Secure Payments, LLC. “Not only does CRE’s service enable online merchants to comply with PCI DSS without having to incur the costs and burdens associated with obtaining PCI certification, it provides an efficient and elegant means of protecting their customers at the point of payment through a fully compliant service that visually blends with the rest of their website.”

Through its innovative, HTML clone™ design, online consumers are redirected to CRE Secure’s hosted payment platform through a window seamlessly mirrored from within their trusted merchant’s web site. Since visually, consumers feel like they never leave the merchant’s site, online merchants are able to maintain greater levels of branding continuity and security for their customers when processing ‘card not present’ transactions. This empowers merchants to better protect the investment in their web site’s design. About CRE Secure

CRE Secure Payments is a cloud-based Internet payment security company. CRE Secure enables leading ecommerce shopping carts and payment software systems distributed worldwide with secure PCI compliant hosted, payment processing solutions using patent pending technology and through its partnerships with top global payment gateways. CRE Secure is a level one PCI DSS certified service provider and a contributing member of the PCI Security Standards Council. For more info, visit www.cresecure.com or call (888) 453-4885.

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Source: Company press release.