Search
 

First Data direct connects networks

DENVER - Payment processing and e-commerce provider First Data Merchant Services, a subsidiary of First Data Corp., has launched direct connections to three of the nation's regional debit networks. First Data's front-end payment processing systems now switch on-line debit point-of-sale transactions directly to the NYCE, Pulse, and Star networks. Plans...

By Staff Writer | Updated on July 03, 2001

DENVER – Payment processing and e-commerce provider First Data Merchant Services, a subsidiary of First Data Corp., has launched direct connections to three of the nation’s regional debit networks. First Data’s front-end payment processing systems now switch on-line debit point-of-sale transactions directly to the NYCE, Pulse, and Star networks. Plans are underway for point-to-point links with the MAC and Interlink networks by third quarter. Currently processing over 550 million PIN-based debit POS transactions a year, the point-to-point connectivity allows First Data to reduce dependency upon third-party gateways services, improve online performance, and manage reconciliation of transactions. “Our direct debit strategy allows First Data Merchant Services to control the processing environment. We can respond faster to our financial institution and merchant customers,” said Steve VanFleet, senior vice president for product development and marketing. “For instance, we fund the online transactions to correspond with a merchant’s end of business day, making it transparent to the merchant and easier for reconciliation.” With First Data Corp.’s pending ownership position in NYCE, the company is exploring ways to expand payment new product offerings. According to VanFleet, the point-to-point connectivity fits into the company’s strategy for First Data Net, a proprietary system that will streamline the payment processing where First Data processes the origin and settlement of the transaction. First Data’s network control center will monitor debit networks just as it does credit card networks.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.