News

First Data, VSoft enter reseller agreement

May 2, 2013

Core- and payment-processing solutions provider VSoft will become a reseller of First Data debit processing services and STAR ATM and POS access under a newly signed agreement between the two companies.

Under the agreement, VSoft will offer STAR Network access and end-to-end debit card processing services to its client financial institutions. The service will help these FIs manage their debit card programs, and will provide processing options to control transaction authentication and authorization, including real-time balance verification, said a news release from First Data.

"VSoft is excited about the partnership," said Murthy Veeraghanta, chairman and CEO of VSoft. "First Data's industry-leading card services will not only benefit our clients from an operational efficiency standpoint, but will also drive revenue and transactional volume. Partners like First Data are very important to VSoft as we continue to strengthen our next-generation core banking platform."

VSoft also has agreed to endorse First Data Online Banking, which includes personal financial management and mobile and online bill pay services. The company will fully integrate the solution into its core banking platform, CoreSoft.

"First Data's comprehensive debit, online banking and network solutions will be a great enhancement to VSoft's own respected core and imaging solutions," said Nick Barnes, senior vice president of financial services product for First Data Corp. "This agreement will help VSoft clients meet their cardholders' demand for convenient access to their money, while gaining operational efficiencies and reducing their costs."

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