The new PriorityCommerce joint venture will develop new Internet-enabled payment applications, including one that will let stores process electronic checks at the point of sale.
AurionPro Solutions Ltd., a payments software company, and IP Commerce, an Internet commerce platform provider, have formed a joint venture for developing new Internet-enabled payment applications.
The new PriorityCommerce joint venture will develop payment applications such as one that will let stores process electronic checks over the Internet from the point of sale, says Sami Shah, managing director of AurionPro, which is based in Mumbai, India.
The electronic check application, ReceivePay, was initially developed for the IP Commerce platform for integrating credit card payment processing data with QuickBooks accounting software. PriorityCommerce will further develop it to include features such as the ability to scan personal checks from store customers for electronic payment over the Internet. “A small retailer could now accept checks and process them online for in-store payment,” Shah says.
"With this partnership we are essentially gaining a highly skilled product development group that will enable IP Commerce to focus additional resources on market and channel development,” says Chip Kahn, CEO of Denver-based IP Commerce.
The companies say the joint venture will contract with AurionPro to provide product management and support services over the next two years.