REPENTIGNY, QC, March 24, 2014 /CNW Telbec/ - A major player among Canadian electronic-transaction processors, Quebec-based CT-Payment announced today the signature of two international agreements, the first milestones of its international commercialization strategy. CT-Payment will offer support to Ria Financial and CoreLogic, two first-rate players in the international financial industry, making it possible for them to process electronic transactions estimated at over 24 billion dollars a year.
The agreement with Ria Financial (an affiliate of Euronet Worldwide) – one of the world's largest money-transfer corporations – is to develop a customized payment application allowing the facilitation of electronic-transaction management and the reduction of fraud-related risk. This tool will first be implemented in Canada, then in the United States, Australia and the United Kingdom.
Ria clients will be able to use a debit or credit card to transfer funds simply and securely. Ria merchants will find that the new Quebec-developed technology significantly reduces the number of cash transactions and allows Ria to reduce the cost associated with money handling and transport. It will also lower the risk of break-ins at the various branches.
Continuing its offensive on foreign markets, CT-Payment USA, a subdisiary of CT-Payment, also signed an agreement with CoreLogic Tax Services and AutoAgent to give American real-estate owners the possibility of paying their property tax through an exclusive online portal. CoreLogic Tax Services is the largest provider of real-estate information services in America.
The AutoAgent platform used in conjunction with the electronic-payment solutions developed by CT-Payment obtains real-time property tax information from the owner's municipality, secures payment preauthorization from the taxpayer, and debits their account to pay the property tax. This technology will significantly alleviate the administrative burden for municipal governments and facilitate online payment of municipal taxes by American consumers.
"These agreements with Ria Financial and CoreLogic illustrate CT-Payment's versatility and resourcefulness. In both cases, we developed tailored applications and provided a technological solution that blends perfectly with the client's management platform. Our tools bind with the client's environment to preserve its technological independence and flexibility – as well as its independence from financial institutions and acquirers," said Denis Robert, CT-Payment's President and CEO.
These two agreements represent the first steps in CT-Payment's penetration of international markets as well as milestones for the strategic growth initiatives to come. In Canada, 60,000 retailers, corporations and public institutions use CT-Payment's payment solutions to perform payment transactions worth over 15 billion dollars each year.
About CT-Payment, Inc: CT-Payment (CTP) is Canada's largest debit- and credit-card processing company to be fully independent of Canadian financial institutions and acquirers. As a member of Interac® and a debit acquirer, CT-Payment delivers integrated debit authorization and settlement services on behalf of its customers and business partners. As an experienced multi-acquirer service provider, CTP offers transaction processing for point-of-sale debit and credit terminals, customized web-payment integration solutions, and the management of loyalty programs. CT-Payment further specializes in the development of platforms for emergent technology in the North American payment-processing ecosystem. It fully complies with PCI international security standards. To find out more: www.ct-payment.com.
About Ria: Ria Money Transfer, dba Ria Financial Services, is a subsidiary of Euronet Worldwide, Inc. (Nasdaq: EEFT). Ria is a global leader in money remittance services and is a recognized benchmark in both quality and service. Ria originates money remittance transactions through a network of sending agents and company-owned stores located throughout Europe, North America and Australia as well as online at www.RiaMoneyTransfer.com. Remittances can be completed in minutes through a worldwide payer network totalling 207,000 locations in 134 countries.
About CoreLogic Tax Services, LLC: CoreLogic (NYSE: CLGX) is a leading property information, analytics and services provider in the United States and Australia. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, transportation and government. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in seven countries. For more information, please visit www.corelogic.com.
About AutoAgent Data Solutions, LLC: AutoAgent, headquartered in Chicago, Il, provides a system for tax collectors and payers, eliminating millions of wasted hours of inefficiencies while saving billions for local governments across the United States. With users in 32 States by over 1,000 lenders and all major tax servicers, AutoagentTM manages 5 million parcels and has collected over $40B in property taxes. For more information, please visit www.autoagentsoftware.com.
SOURCE: CT-PAYMENT INC.