Peppercoin and SunTrust ink micropayments deal

[R.A. Hettinga]

<http://www.finextra.com/fullstory.asp?pf=y&id=13273>  
 News
 
 
 
Finextra:

Peppercoin and SunTrust ink micropayments deal


 

Published:
22/02/2005 14:20:00
US micropayments firm Peppercoin has inked an alliance deal with SunTrust
Merchant Services, a joint venture between SunTrust Banks and First Data
Corporation, to deliver a small payments processing service to merchants.
Reino Parking Systems has been signed as the first client.

Peppercoin's Small Transaction Suite cuts processing costs for sub-$20
transactions conducted via conventional debit and credit cards. The
SunTrust tie-up follows a similar recent agreement with Chase Merchant
Services.

 Mark Friedman, president of Peppercoin, says: "With our joint solution,
SunTrust Merchant Services' 67,000 business clients can immediately convert
small cash payments, a $1.32 trillion annual market, to credit and debit
card payments."

Barbara Roeber, general manager/SVP, SunTrust Merchant Services, says the
firm has recorded "a dramatic increase in demand for small payments
capability" in the past six months. "Peppercoin's solution is the only one
that supports our merchants' needs for digital, mobile and physical point
of sale transactions."

Reino Parking Systems has begun deployment for the processing of credit
card transactions at Multispace parking meters in various US locations. The
meters will be able to accept payment via credit card and mobile phone and
consumers can elect to receive text messages alerting them to expiry times.

 
 


 

 

 

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R. A. Hettinga <mailto: rah at ibuc.com>
The Internet Bearer Underwriting Corporation <http://www.ibuc.com/>
44 Farquhar Street, Boston, MA 02131 USA
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