Brinkman Financial Company, a pioneering provider of online payment and credit card services technology, announced it is launching a new subsidiary, NextPay, as a merchant credit card processing solutions provider to the retail, ecommerce and mail order industries.
Brinkman further states it has hired Lynn Varnell, a financial services veteran, to lead the new company.
"Throughout its 25-year history, Brinkman Financial Company has created online payment technology solutions for the Fortune 500 in the banking, transportation and ecommerce sectors. With the launch of NextPay, we are taking our knowledge and technological innovation into the merchant credit card processing services category," said Mark Brinkman, president of Brinkman Financial Company.
Varnell will head NextPay as chief operating officer. A 13-year veteran of the banking, financial and ecommerce services and merchant credit card processing industries, Varnell most recently served Chase Paymentech as director of strategic partnerships.
"There are very few companies like NextPay in the merchant services space," Brinkman added. "All of our technology is under one umbrella, making our services simple to use and highly secure. With our software development capability, we are also able to deliver unique products and customize solutions.
"Most companies in the credit card processing space cobble together solutions from a number of other providers and resell them. Ultimately, merchants pay more in terms of time, money and compliance," Brinkman noted.
NextPay is a Level One Payment Card Industry (PCI) compliant processor - the highest security standard in the industry. As debit and credit card usage grows and the payment card industry's 2010 deadline for security compliance approaches, it is critical that merchants secure their processing networks and protect cardholders' information.
"Two issues weigh on merchants - the economy and security," observed Lynn Varnell. "NextPay is in the enviable position of providing our merchants with a proven technology platform to save them money and give them the confidence that their customers' sensitive information is secure to the highest industry standard."
NextPay also launched a suite of processing tools designed to improve a merchant's business performance, revenue recognition and information security.
From its NextPay Gateway and Virtual Terminal to its recurring and online billing applications, NextPay gives all merchants confidence that its one-provider platform delivers the stringent security they need.