Optimal Payments Launches New Payment Processing and Fraud Management System for eBay-owned Magento E-commerce Platform
Becomes Silver Industry Partner making it easier for Magento's online retailers to accept payments and reduce losses from fraud
LONDON, MONTREAL and NEW YORK, Dec. 10, 2013 /CNW Telbec/ - Optimal Payments (LSE AIM: OPAY), a leading global online payment solutions provider, has launched an integrated payment processing and fraud management solution specifically designed to serve the online retail clients of Magento, a leading e-commerce platform owned by eBay with more than 150,000 merchants worldwide.
In addition, Optimal Payments is now a Magento Silver Industry Partner. The program allows premier technology companies to reach, market and provide solutions to Magento's ecosystem of e-commerce developers and merchants.
The new Magento 'Optimal Payments Extension,' a free software download from Magento Connect, provides connectivity to Optimal Payments' NETBANX payment gateway. It is fully compatible with Magento's Community and Enterprise editions and provides merchants with the industry's most comprehensive payment processing system including seamless integration with ThreatMetrixTM fraud management tools. Merchants are able to significantly reduce fraud by automatically holding, flagging and/or denying suspicious orders before a shipment is made. Operational tasks are further simplified by being able to manage holding and releasing orders - as well as issuing credits, refunds or cancelling orders - all directly through the Magento platform.
Magento merchants will also benefit from the integration of the NETBANX gateway with Silent POST technology. This enables the capture and processing of sensitive credit card and cardholder data in Optimal Payments' PCI Level 1 compliant environment with no payment information stored locally on merchants' servers thereby significantly reducing their PCI compliance requirements.
"The Optimal Payments Extension offers Magento clients of all sizes access to our international payment processing capabilities, multicurrency support and global fraud management tools," said Martin Leroux, chief business development officer, Optimal Payments. "Furthermore, our integrated ThreatMetrix service will help merchants minimize their losses while providing a positive checkout experience for their legitimate customers."
The Magento eCommerce platform serves more than 150,000 merchants worldwide and is supported by a global ecosystem of solution partners and third-party developers. Magento is a feature-rich, open-source, enterprise-class platform that offers merchants a high degree of flexibility and control over the user experience, catalog, content and functionality of their online store. In August 2011, Magento was acquired by eBay Inc., and is now a division of X.commerce, Inc. (NASDAQ: EBAY).
About Optimal Payments Plc
Optimal Payments is a global provider of online payment solutions. Trusted by businesses and consumers in over 200 countries to move and manage billions of dollars each year, merchants use the NETBANX® processing service to simplify how they accept and settle credit card, direct-from-bank, and cash payments; and the NETELLER® payment service to increase margins, capture new customers and increase their lifetime value. Being an independent provider has allowed the company to support tens-of-thousands of merchants around the globe across a wide range of industries. Optimal Payments Plc is quoted on the London Stock Exchange's AIM market, with a ticker symbol of OPAY. Subsidiary company Optimal Payments Ltd is authorised and regulated as an e-money issuer by the UK's Financial Conduct Authority (FRN: 900015).
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