TransFirst, a leading provider of transaction processing services and payment enabling technologies, today announced it has fully implemented a new proprietary back-end system called TransClear.
The company formed a strategic business alliance with Planet Group, Inc. in November of 2011 to license Acquire360, Planet Group's best-in-class merchant billing, settlement and chargeback system, with the goal of efficiently and effectively gaining control of back-end processing in-house. TransClear gives TransFirst more flexibility in terms of pricing, reporting, customization and statement production for processing more than 200,000 merchants, as well as speed-to-market and additional ability to penetrate new business verticals.
"Utilizing Acquire360 as the foundation for TransClear enabled us to bring back-end processing in-house quickly, to maximize efficiencies which help us better serve our clients and partners," says John Shlonsky, president and chief executive officer for TransFirst. "TransClear simplifies our back office and creates an ease of operations that will contribute further to our already significant growth. We are gratified and appreciative of the many hours of work invested by Planet Group. This will enable us to achieve our objectives as we move forward with new solutions that will enhance our company's market value."
"TransClear is an industry-leading solution for TransFirst's merchant customers and sales partners," says Steve Cadden, senior vice president and chief operating officer for TransFirst. "The ability to control our own processing environment gives TransFirst a competitive advantage and creates a solid foundation for our future success."
"Acquire360 is a world-class, back-end processing solution that is second-to-none," says Tom Nichting, president and chief executive officer for Planet Group. "We are thrilled to have Acquire360, plus our industry specialists and software consultants, play a key role in helping TransFirst bring back-end processing in-house with TransClear and we look forward to seeing TransFirst profit in the coming years," adds Nichting.