Internet payment service and risk management solutions provider SafeCharge has announced plans to spread online operators' risks involved in card-not present transactions through multiple banking relationships.
The company aims to protect online businesses from the global financial crisis by offering more than one merchant account with several acquiring banks through the same payment service provider.
"The financial recession has created new economic breakdowns,’ said Sharon Gal-Franko, marketing director at SafeCharge. "Nowadays, relying solely on one acquiring bank is risky.
The company stated that it is prepared so if one bank falls or has to change industry requirements, it is able to replace the bank with another acquirer without troubling online merchants with another application process.
"SafeCharge is exactly that connected PSP able to switch merchant’s online processing to a different acquiring bank ensuring them incessant processing activity by only one system integration, no additional handling, administration fees of bureaucratic hardships," Gal-Franko added.
