New Option to Speed-up Card Transactions
VANCOUVER, Wash. – (March 15, 2005) – New Edge Networks has established an interconnection agreement with national electronic payment processor Paymentech, giving merchants a new option for speeding-up card transactions.
Under terms of the agreement, New Edge Networks will create and maintain redundant high-speed connections directly to Paymentech for secure card transactions over a private network. Previously, merchants needed to establish their own direct connections to the payment processor through an intermediate host location, a payment gateway, or over the public Internet.
“This agreement makes New Edge Networks “Paymentech-ready,” said Dan Moffat, president and CEO of New Edge Networks. “Merchants eliminate the management overhead, operating costs, and monthly expense of using and maintaining their own direct connections to the payment processor.”
Transaction times over broadband connections take as little as two seconds compared to about 12 seconds over a dial-up connection. This speeds up lines at the retail check-out lanes and improves overall customer experience.
“This agreement is about giving our merchant customers more choice and flexibility with their always-on broadband networks for handling secure card transactions,” said Greg Schaub, group executive for Paymentech.
New Edge Networks is one of the first national carriers to receive compliance statements that broadband networks it builds for business customers are compliant with credit card data security requirements of American Express, Discover Card, and MasterCard. The company is awaiting validation of compliance from Visa USA.
About Paymentech
Paymentech, L.P. processes more payment transactions than any other company in North America - and more than half of all Internet transactions - for retailers accepting U.S. and international payments via traditional point of sale, Internet, catalog and recurring payments. The privately held company, founded in 1985, is an end-to-end processor for merchants of all sizes and industries. Paymentech`s 1,700 employees office in multiple locations, including the Dallas headquarters; New York; Salem, NH; Tampa, FL; and Tempe, AZ. In 2004, Paymentech and its Canadian affiliate, based in Toronto, processed 8.5 billion transactions and $200 billion in card volume in 14 currencies.
About New Edge Networks
New Edge Networks is a single-source national provider of managed network services for multi-location wide area networks (WANs). Through its own network facilities, New Edge Networks integrates a wide variety of last-mile broadband access technologies for building blended networks that reach 100 percent of all U. S. business locations. Customers include business enterprises, telecom carriers, and other communications providers. New Edge Networks’ product suite of managed network services received Frost & Sullivan’s Telecommunications Services 2005 Product of the Year Award. New Edge Networks is listed No. 28 on the 2004 Inc. 500 list of fastest growing companies in America. The company’s Web site is www.newedgenetworks.com. Telephone: 1-360-693-9009.
Contact:
Sal Cinquegrani
(360) 906-9723
ATTN: New Edge Networks news releases contain information that is accurate as of the date they are issued. Information contained in past news releases may become out of date and the company does not assume responsibility for updating information contained in past news releases.
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