Planet Group updates Acquire360

Source: Planet Group

Planet Group Inc., the leading provider of software and consulting services that turn technology into valuable business solutions for the electronic payments industry, announced today the enhancement of Acquire360, its best-in-class merchant billing, settlement and chargeback system.

Acquire360 completely streamlines back-end payment processing for merchant acquiring portfolios. The latest release of Acquire360 gives merchant acquirers flexible access to new capabilities that help fuel growth in today's dynamic and rapidly changing business environment, including robust aggregation processing support, plus enhanced risk, reserve management and pricing tools.

"Rapid change is a way of life in electronic payments," says Tom Nichting, chief executive officer for Planet Group. "Our seasoned team of professionals has a wealth of information technology and payments knowledge. They've worked closely with our clients to bring this new, best-in-class version of Acquire360 successfully to market and I'm proud of their efforts," adds Nichting. "Acquire360 is a world-class, back-end processing solution that is second to none."

Robust aggregation processing support is available. Acquirers have full functionality at the sub-merchant level for pricing, risk monitoring, merchant statementing and Automated Clearing House (ACH) processes. A key aggregation feature is transaction-level dynamic descriptor support, even when not supported by front-end processors.

Comprehensive reserve management and pricing tools give merchant acquirers more options than they have ever had before. Up to 10 reserve accounts per merchant can be defined and prioritized to support Internal Revenue Service requirements, split funding, reject management, risk reserves and more. New pricing options enable acquirers to set up any conceivable merchant pricing strategy, while optimizing interchange and maximizing revenue. The ability to calculate discounts and construct fees gives acquirers maximum flexibility to manage and grow their businesses.

"Acquire360 enables flexible, yet simple, system-to-system integration with other business processes, such as on-boarding, customer relationship management, risk, finance and chargebacks to increase efficiencies," states Doug Bolam, vice president of product development for Planet Group.

"Interoperability and compatibility of Acquire360 with other software applications is one of the best features our clients leverage," adds Bolam. "Acquirers ultimately gain end-to-end control over their data, which is huge." 

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