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Transaction Processing of the Transfirst the Ninth Largest Payments Processor set to growIP Commerce, Inc., a software company that enables open payment services between businesses, has signed a license agreement with TransFirst that will help Transfirst to leverage its IP Payments Framework (IPPF). This will enable TransFirst to broaden its service offerings and reach more merchant customers through TransAction Central.TransAction Central is TransFirst's proprietary web-based centralized payment processing system. This will help TransFirst, and other independent software vendors (ISVs), to provide a wider array of payment options and application add-ins to their customers and merchants. Electronic payments are usually delivered and processed using a collection of proprietary platforms, unrelated systems and incompatible message formats. This has been a limiting factor for introduction and adoption of new payment types and services. Over broadband IPPF enables these disparate payment platform technologies to communicate. It also allows ISV's to easily access and integrate new combinations of payment options many of them provided by Transfirst. The business growth for both ISV's and Transfirst is due to entirely new streams of revenue from the integration. IP commerce's IPPF is rapidly expanding as the payment industry leader Transfirst is now utilizing it to realize the benefits of this open framework and enabling the payment services to communicate with other platforms. IPPF from IP commerce thus enables the various clients of Transfirst to include multiple payment processing methods that include the internet ACH, batch, wireless and recurring payments. IP Commerce, Inc. enables open payments. This allows banks and service providers to deliver payments services seamlessly to any business. The company provides an SOA- based infrastructure of the payments industry that can be utilized to host payments as well as connect other services, devices and applications to open payment. IPPF thus breaks down tradition barriers by connecting banks, payment service providers, businesses, and software eco systems. TransFirst a market leader in strategic mergers and acquisitions has gained significant market share and world-class expertise and currently processes approximately $23 billion in annual sales volume for more than 160,000 merchants and more than 965 financial institutions. |
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