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Payment Data Systems, Inc. Announces the Signing of E Transactions Solutions Inc. dba eCashflow Systems to a Reseller Contract 4:01 p.m. 06/29/2005 Provided by PRNEWSWIRE
- E Transactions Solutions to Become an Early Adopter of Credit Card Account Updater - SAN ANTONIO, June 29, 2005 /PRNewswire-FirstCall via COMTEX/ -- Payment Data Systems, Inc. (PYDS) today announced that it has signed a multi-year reseller agreement with E Transaction Solutions Inc. dba eCashflow Systems.
E Transaction Solutions dba eCashflow Systems will be directly marketing our complete solution set for merchant services, credit card gateway, and CSR View product that allows a biller's customer service representatives to manage both recurring and one-time payments. They also intend to internally utilize our Account Updater functionality for their current and future customers.
The Account Updater function offered by PDS was announced in February of this year. The optional product is designed for businesses that accept payments in a "card not present" environment, such as those found on the Internet, or those that generate recurring payments.
Card information such as expiration dates, account upgrades, name changes, etc. change regularly. These changes can now be tracked and updated electronically in real-time eliminating the need for the merchant to directly contact customers for these exceptions. Card-not-present and recurring transactions can now flow seamlessly without the need to interrupt the process to update information. The service greatly reduces costs associated with current manual efforts to update credit card information, as well losses in revenue from lost transactions.
Steve Gdovic, Founder and President of E Transaction Solutions dba eCashflow Systems said, "Our clients with monthly recurring fees include organizations such as Fitness Centers, Phone Companies, Cable TV providers & Utility companies. These perfectly fit the profile for the PDS tool and will greatly benefit from this new service."
Gdovic continued, "This is a continuing effort to provide our customers with another state of the art tool to help collect consumer payments. Upon completion of the pilot program with three of our YMCA clients, we will roll out the availability of this service to over 1000 existing clients. We plan to make an additional 300 client locations available via our business relationship with Daxko, the leading commercial software provider to YMCAs nationwide."
Louis Hoch, President and COO of Payment Data Systems, Inc. said, "We are very enthusiastic about the relationship with E Transaction Solutions / eCashflow Systems. They are a forward-looking company focused on customer service and innovation. We are pleased to be able to provide a tool that meets those objectives very directly."
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