Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
DataCash enables multi-market, local payment processing to merchants in third largest eCommerce market in the world.
LONDON, April 26, 2012 -- Payments services provider, DataCash, a MasterCard company, has today announced that it has commenced eCommerce payment processing in the world's third largest eCommerce market, Japan.
The launch will provide merchants seeking to enter the Japanese market, with the ability to accept payments in Japanese Yen in a broad range of payments brands including Japan Credit Bureau (JCB), Japan's largest credit card company, MasterCard, Visa and Diners.
This has been achieved through DataCash's collaboration with MasterCard and extends DataCash's international capabilities to offer its merchants the ability to accept domestic and international payments across 180 countries in over 170 currencies.
Ajay Bhalla, president at DataCash, said, "This is a major milestone for DataCash as Japan is a key market for the global eCommerce industry. We recognise that merchants are increasingly adopting multi-market, local processing models and this launch is testament to our commitment to delivering these merchants with a solution to capitalise on today's global opportunities.
"The payments industry is in an increasingly dynamic environment with new and exciting technologies, such as the emergence of mobile solutions and advanced fraud tools. We believe that our move in to the Japanese market will allow us to in the future, bring forward these propositions and enable a holistic international payments system for our merchants."
Founded in 1996, DataCash Group Ltd (part of MasterCard Incorporated) provides multi-channel global payment processing services and advanced fraud prevention and risk management solutions to merchants and banks. As a global partner to some of the world's most recognisable brands in the gaming, travel, retail and finance sectors, DataCash combines smart thinking and an end-to-end solution to help its customers transcend the complexities and expense associated with payment processing. Advanced technology from DataCash enables customers to accept and process payments in over 177 currencies, from over 45 brands across e-commerce, m-commerce channels and cardholder present channels - with the security and confidence of tools tailored to meet exacting and expanding business needs. DataCash customers protect their brand and reputation, enhance end-user experience and capitalize on new global market opportunities.