Printec and Datawire to deliver IP network for payment transactions

Source: Printec Group

Printec Group of Companies, Southeastern Europe's leader in electronic payment solutions, and Datawire Communication Networks Inc., a leader in Internet based transaction delivery, today announced the formation of a strategic alliance to provide merchant acquirers, third party payment processors and merchants with a fully managed, secure, reliable IP network for payment transactions.

The alliance will be focused on the Southeastern European market.

Printec's selection of Datawire's patented VXN transaction delivery network complements its strategy to offer customers an end-to-end payment solution. Printec will now be capable of offering Datawire's secure, reliable, high speed network in addition to Printec's payment terminals, help desk support, terminal deployment and related services. The Datawire network will deliver credit, debit, gift card, loyalty card, mobile top up, dynamic currency conversion and other transaction types to payment processing hosts on behalf of Printec's third party processor, merchant acquirer and retail customers. Printec is integrating Datawire's Embedded Systems Development Kit into the VeriFone Vx Solutions family, in order to provide its customers with end-to-end encryption and IP transaction routing in compliance with the Payment Card Industry Data Security Standards and MasterCard POS Terminal Security Program (PTS) guidelines.

"We selected the Datawire VXN network due to its reliability, speed, security and ability to deploy on a cross border basis quickly and cost effectively", commented Harris Konstantinou, Printec's Chairman & CEO. "Printec's strategy is reliant on a high speed, IP based network, and the Datawire network has proven itself to be best-of-breed," added Mr. Konstantinou.

"We are delighted to partner with Printec, Southeastern Europe's market leader in the provisioning of point-of-sale terminals and ancillary services," stated Patrick Cummiskey, Chief Executive Officer of Datawire Communication Networks. "Printec's deep relationships with processors, banks and merchants will enable the Datawire VXN network to be resold to Printec's customers as part of a packaged solution, which will accelerate Datawire's international expansion strategy while at the same time equipping Printec with an IP-based network that will give it a competitive advantage in the market."

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