The newly formed joint venture will provide both traditional and e-commerce businesses with products and services including payment processing, charity processing, POS equipment sales and leasing, merchant cash advance, credit and debit card processing, equipment financing, payroll programs, virtual merchants, ISO/MSP agent programs and electronic check processing.
In order to gain access to these services, merchants will have to open up a merchant account. This will allow for a payment gateway to be opened for them and everyone who uses their business. When a merchant deals with MDS they will be able to offer their customers mobile credit card processing and other features. An online merchant account is also opened, that allows for things such as merchant cash advances and other benefits.
Founded in 1997, Merchant Data Systems offers credit and debit card processing services, cheque acceptance, EBT (electronic benefit transfer), POS equipment sales and leasing as well as gift card and loyalty programs.
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