Digital Courier Technologies, Inc. announced Tuesday that its netClearing Internet payment processing division has signed a letter of intent to acquire Access Services, Inc., a private company based in Atlanta, Georgia. Access Services is a leading third party credit card transaction processing company. The acquisition is expected to close by early December. Terms of the transaction were not disclosed.
Digital Courier becomes one of the first companies to provide online businesses with a suite of Internet-based payment processing products with built-in direct connections to the Visa, MasterCard, American Express, and Discover payments networks. NetClearing currently provides the payment processing transaction engine for Digital Courier’s Videos Now online video shopping service, which debuted this month on America Online, as well as for a growing number of online merchants. netClearing will also be used in industrial-strength Web-based and wireless personal weather applications to be introduced by Digital Courier’s WeatherLabs division later this year.
“It is projected that the e-commerce market will grow to $300 billion by 2002, and the acquisition of Access Services accelerates our strategy to position netClearing at the hub of this market,” stated Mitchell Edwards, Chief Financial Officer of Digital Courier. “Access Services will immediately bring world-class payment processing management and substantial financial institution and merchant business to our netClearing division,” he added. Access Services provides credit and debit card authorization and capture services to major banks and ISO/MSP service organizations nationwide through its processing center located in Atlanta, Georgia. Based on leading edge client-server technology provided by Verifone and Hewlett-Packard, Access Services fields a broad array of payments products and services designed to take advantage of up to date offerings in Internet and other telecommunications mediums.
“Our alliance with Digital Courier will further enhance our Internet payments offerings and enable us to continue our rapid expansion in the payments processing marketplace,” said Tom Tesmer, President of Access Services.
Digital Courier Technologies Inc. supplies businesses and major web portals with sophisticated e-commerce and content delivery software. The software is based on a powerful matrix of server-side Java software components. The company’s current content offerings, which utilize the powerful e-commerce and content delivery software, include: WeatherLabs, a premiere online weather information service (), VideosNow (), and BooksNow ().Details