Payment News

Compass Plus, based out in St. Louis, Missouri, a global payment provider that offers banking technology to retailers, credit unions, and banks, today announced that First Data will be utilizing its TranzWare Interchange solution at Processing Center in Lithuania to enable better settlement and clearing of international transactions. The biggest processor in Lithuania is First Data Lietuva, a unit of First Data the largest processor in the world. First Data Lietuva center will be expanding Compass Plus’ TranzWare Interchange products by integrating the solution into its processing platform to enable multiple clearing formats for international transactions. The integration of TranszWare offers First Data Lietuva better and more direct networked data communication with MasterCard and Visa and will allow for credit card issuers and banks to easily maneuver between external and internal formats.

The TranzWare platform has allowed First Data to run their processes much better because it improves the services and quality of those services on the First Data Lietuva platform. The TranzWare platform very flexible for programmers to develop and implement several tools needed to resolve local problems quickly.

The TranzWare line of products allows for banks, processors, and credit unions of all types to address specific needs of customers with TranzWare Interchange by simplifying processes that are complicated by improving communication channels when it comes to international payment platform thus making the system much more enhanced and efficient. TranzWare line of products are PCI DSS and PA DSS compliant by regulations and was built in-house from the ground up with flexibility in mind that offers a single-integration infrastructure for companies using the products in any business setting.

Source: company press release