STRATEGIC PARTNERS
February 27, 2002
BOCA RATON, Fla. -- MerchantOnline.com, a processor of Internet e-commerce transactions, is the newest member of an industry group tasked to create industry standards for making secure ATM card payments over the Internet after joining the 125-member NACHA Internet Council.
NACHA, a trade group that develops operating rules for the Automated Clearing House network, is spearheading an online debit pilot that will process ATM card payments over many of the nation's ATM networks including Pulse, Maestro, Deluxe and Star Systems. Internet payment processors such as AmeriNet will select specific merchants for the pilot when the program expands in March.
"It is important to set industry standards for electronic payments systems that will guarantee safe and secure e-commerce for consumers and for merchants," said Tarek Kirschen, MerchantOnline.com president and CEO. "This will mean worry-free shopping for the growing number of consumers over the Internet, and greatly diminished charge-backs for merchants."
Elliott C. McEntee, NACHA president and CEO, said, "The benefit of this pilot to consumers is the development of a convenient and secure Internet payment method tied directly to a checking account. Merchants would have a guaranteed, low-cost payment mechanism running in real-time. Financial institutions would act as trusted third parties, just as they do every day for other commercial transactions."
Founded in December 1997, MerchantOnline.com provides businesses with real-time secure credit and debit card processing, shopping cart services and online checking transactions.
