Select Comfort, the creator of the Sleep Number bed and the nation’s leading bed retailer, will process credit card payments through Paymentech, according to a new multi-year agreement with the nation’s largest payment processor.
Paymentech is now processing transactions for 356 Select Comfort locations, which take in an estimated $200 million in bankcard volume annually. Paymentech manages every portion of the transaction process, from authorization and capture to settlement, funding and reporting.
Select Comfort cites Paymentech’s all-in-one advantage and advanced technology, especially web-based reporting tools, as key factors in its decision.
“We wanted to work with a single company – not multiple vendors – and we wanted one that would enable us to pull reports on the Internet. We were really impressed with the Instant Alerts feature that notifies us almost immediately about unusual transactions,” said Don Heidemann, Cash and Accounts Receivable Manager, Select Comfort Corporation.
Heidemann added that “the conversion to Paymentech’s system was almost transparent.”
About Select Comfort
Founded in 1987, Select Comfort Corporation is the nation’s leading bed retailer, holding 26 U.S. issued or pending patents for its personalized sleep products. The company designs, manufactures and markets a line of adjustable-firmness mattresses featuring air-chamber technology, branded the Sleep NumberÂ® bed, as well as foundations and sleep accessories. Select Comfort’s products are sold through its 356 retail stores located nationwide, including 13 leased departments in Bed Bath & Beyond stores; through selected bedding retailers; through its national direct marketing operations; and on the Internet at [www.selectcomfort.com].
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 1,500 employees work in multiple locations, including the Dallas headquarters; New York; Salem, NH; Tampa, FL; and Tempe, AZ. In 2003, Paymentech and its Canadian affiliate, based in Toronto, processed 7 billion transactions and $162 billion in sales volume in 14 currencies. For more information, please visit [www.paymentech.com].