LONDON (Alliance News) - SafeCharge International Group Ltd Tuesday said it has been granted principal membership status for merchant acquiring by VISA Europe.
The news comes after SafeCharge, which provides payments services, risk management and IT help for online businesses, was in December 2013 granted membership of MasterCard Europe. The latest step allows SafeCharge to directly acquire and process Visa and MasterCard transactions for merchants in the UK and across Europe.
According to SafeCharge, the membership status will reduce its direct acquiring cost structure, accelerate the merchant acquisition process, and improve its competitive position for winning new business.
"Principal Membership of both VISA Europe and MasterCard Europe is a major milestone for SafeCharge and a key part of our strategy to position the company as a leading player in on-line payments," Chief Executive David Avgi said in a statement.
"The membership has been granted following a thorough due-diligence process and serves as a stamp of approval for the quality and transparency of our technologies and services," Avgi added.
SafeCharge shares Friday closed at 195.50 pence and were quoted down at 195.00p at the open Tuesday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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