Paymentech Canada, a unit of Paymentech, is launching credit card and electronic payment programs for major Canadian direct marketers that includes expanding Internet credit card processing. The new clients are BUY.COM, a leading Internet superstore offering a wide range of goods, and bamboo.com, a top Internet real estate service provider of 360-degree virtual home tours.
This recent business is projected to add approximately C$75 million in annual processing sales volume to Paymentech Canada’s portfolio. Paymentech currently processes electronic payments for over 120 Canadian direct marketers and e-tailors.
In addition to secured credit card transaction processing and settlement, Paymentech partners with top electronic commerce-enabling solution providers such as CyberSource to provide end-to-end payment services. Paymentech also utilizes proprietary email and on-line reporting and administration tools for Canadian merchants.
“Security and consumer convenience are critical to our Internet retailing operation,” said Jeff Damron, chief financial officer for BUY.COM. “For the launch of our Canadian market, we wanted to ensure an easy and efficient payment function was in place to make a favorable impression with new shoppers.”
“Ensuring safe and fast credit card transactions on the Internet involves a chain of partners that must work together,” said Chad Markle, director of business systems at bamboo.com. “Paymentech has significant relationships with all key e-commerce software providers as well as the necessary understanding of needed banking services.”
Based in Palo Alto, CA, bamboo.com is a leading provider of 360-degree virtual tours on the Internet. bamboo.com maintains key relationships with major real estate Web sites and multiple listing service (MLS) providers, including HomeStore.com, REALTOR.com, HomeSeekers.com, Microsoft HomeAdvisor, HOMES.com, CyberHomes.com, LoopNet, Moore Data SErvices and GTE. As a result of these alliances, bamboo Virtual Tours can currently be view on America Online (AOL), Yahoo!, Microsoft Network (MSN), Excite, Netscape Netcenter, GO Network/InfoSeek, NBC, The Wall Street Journal Interactive Edition and others. For more information about bamboo.com, visit [www.bamboo.com].
Paymentech ([www.paymentech.com]), founded in 1985, is a major provider of full-service electronic payment solutions and the top processor for direct marketing and Internet merchants such as cataloguers, telemarketers, and on-line service providers. Paymentech is the second largest processor of bankcard transactions.