New Edge Networks: First Data 'Ready' For Fast Payments
New Edge Networks has announced that it has established high-speed direct network connections with First Data Corp. that will allow New Edge Network merchants to use First Data for processing bankcard transactions faster and at no added cost.
Through use of direct connections, merchants also eliminate the management overhead, operating costs, and monthly expenses for using and maintaining their own direct connections to the payment processor. Transactions go over a private network, avoiding the public Internet."We believe direct, private and secure connections to payment processors will usher in a new wave of interest in IP payment processing through broadband networks," said Dan Moffat, president and CEO of New Edge Networks. "These direct connections minimize the cost and complexity of managing multiple separate connections for merchants."
Direct connections are part of a New Edge Networks initiative called ARNie, short for America's Retail Network information exchange. New Edge Networks is establishing direct connections with various suppliers to retail merchants.
Many merchants today use dial-up telephone connections for credit and debit card transactions, as well as gift card and electronic check acceptance services. Transaction times over broadband connections take as little as two seconds compared to about 12 seconds over a dial-up connection. This speeds up lines at the checkout counters and improves the overall customer experience.
New Edge Networks is one of the first national carriers to receive compliance statements that broadband networks it builds for business customers are compliant with credit card data security requirements of American Express, Discover Card, MasterCard, and Visa USA.
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