DALLAS - Columbus Data Services LLC, a provider of payment-processing technology, has added a payout module to its Web Tools program that allows independent sales organizations to pay, via the Web, merchants, investors, cash providers, affiliates, their sales forces and other parties associated with the ATM.
According to a news release, the new module allows an ISO to pay or collect monies via ACH or check. Users can setup one-time or recurring debits and credits. A complimentary reporting feature also allows data to be imported into an ISO's accounting system and can produce monthly merchant residual checks. Reports can be produced by payee to show the amounts paid to each party by terminal location.
Profitability reports also can be calculated for each location.
"This product is a result of feedback from our customers as to some of the different services we could offer on our Web site to assist them in their day-to-day operations," said John Willmon, CDS's vice president of business development. "It is an advanced application that gives our customers capabilities which in the pas, would have required huge investments on their part, for either licensing third-party software or for internal software development."
