First American Payment Systems licenses Planet's Acquire360

Source: Planet Financial Services

Planet Financial Services (Planet), a leading provider of payment transaction processing solutions and industry consulting expertise for the financial services industry, announced today that First American Payment Systems, L.P. (First American), one of the fastest growing merchant card processing acquirers in the United States, has selected Planet's Acquire360 Merchant Acquiring and Settlement solution for their backend processing needs.

Acquire360 will reduce operational costs and provide pricing control for First American, and has been integrated with First American's current back office and customer support systems retaining their IT investment while allowing for adaptability and future growth. Comprehensive merchant statements, enhanced billing to merchants and improved ACH flexibility will provide First American a competitive advantage in the marketplace while improving customer service to their merchants.

"This platform allows us to do what we do best, service our customers," said Neil L. Randel, President and Chief Executive Officer of First American. "Acquire360's adjustable programming and robust functionality fits our business growth strategy by providing scalability and flexibility to meet the needs of our merchant clients while reducing our operational cost."

"Planet is pleased to provide First American a world class settlement solution in an outsourced management format," said Mike Wofford, President of Planet Group Inc. "First American is a recognized leader in the Acquiring market and Planet looks forward to assisting First American with their growth objectives."

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