Electronic Payment Exchange becomes a direct merchant acquirer in the EU

LONDON | Electronic Payment Exchange (EPX) is strengthening its European operation by becoming a direct merchant acquirer in the European Union with initial movement into the United Kingdom. EPX will begin offering its payment services directly to EU merchants starting in the first quarter of 2012.

EPX, a full-service payment processor providing combined tokenization and end-to-end encryption payment solutions to multi-national merchants, has provided payment processing services in the EU region for merchants on behalf of bank clients since 2008. It will now directly offer its fully-integrated, straight-through electronic payment processing services to EU merchants in point-of-sale, ecommerce, and card-not-present transaction environments alleviating the need for merchants to contract with multiple third parties.

EPX Executive Vice President Joe Babin announced the EPX EU initiative stating that the strategic initiative was primarily driven by client response.

“We have been contacted by merchants in the EU seeking availability of the numerous technical capabilities we already provide to merchants in other regions,” stated Babin.

“Our single-source offering will provide all the technical requirements and financial services required to accept payments, including merchant accounts, front-end technology, authorization and settlement processing, comprehensive reporting, exception handling, and customer support.”

Babin said that EU merchants will realise significantly advanced payment capabilities at lower costs. EPX expects to recruit experienced merchant acquiring individuals to support their EU efforts and will begin by opening an office in London in the first quarter of 2012.

*Source of information, here.