Strategic agreement to offer higher identity certainty for highly regulated market sectors
LONDON, UK, Oct. 1, 2013 /PRNewswire/ - Optimal Payments (AIM: OPAY) ("Optimal Payments"), a leading global online payments provider, and Daon, a leading identity services provider, today announce that they have entered into an agreement to work together strategically on solutions that will leverage Daon's biometric authentication system with Optimal's NETBANX and NETELLER payment services. The combined capabilities are especially important for market sectors where a high degree of customer identity certainty is required, such as regulated gaming, governmental, and financial services.
Since 1996 tens-of-thousands of businesses have relied on Optimal's payment services to allow acceptance of credit/debit cards, bank debits and alternative payments from around the world. Delivered from the cloud, the white-label services process over $11 billion a year and include merchant accounts, a secure payment gateway, multi-channel acceptance, configurable fraud rules, and customer accounts and mobile wallets. Transaction certainty is maintained at all times by comprehensive risk services, geo-redundant data-centres and PCI-DSS Level 1 certification.
Certain market sectors require many businesses to always have a high degree of KYC (Know-Your-Customer) certainty over who they are dealing with. The Daon IdentityX biometric 2-factor authentication service, which was recently reviewed by the U.S. Senate Consumer Protection Subcommittee, allows the in-stream online re-verification of individuals as part of payment transaction flows, making it easier for business operators to meet their regulatory obligations.
Joel Leonoff, President and CEO of Optimal Payments, commented: "Optimal Payments is at the forefront of technology innovation and Daon's world-class services are very complimentary to both the segments that we service and the kind of products we offer merchants and banks, such as remote payments, mobile wallets and cross-border remittance."
Tom Grissen, CEO of Daon added: "Optimal Payments is an innovator in the customer-not-present payments sector and so we're delighted to be able to work with them to offer the market 'homeland security' grade identity services embedded right into payments."
Daon is a leading provider of identity assurance software products focused on meeting the needs of governments and commercial organizations worldwide. Daon products have been selected to secure hundreds of millions of identities around the globe including programs in the United States, Japan, India, Australia, New Zealand, the European Union and Mexico. Commercial customers include two of the five largest financial institutions in the world.
For more information, visit www.daon.com.
About Optimal Payments PLC
Optimal Payments is a global provider of online payment solutions. Trusted by businesses and consumers in over 200 countries to move and manage billions of dollars each year, merchants use the NETBANX® processing service to simplify how they accept and settle credit card, direct-from-bank, and cash payments; and the NETELLER® payment account to increase margins, capture new customers and increase their lifetime value. Being an independent provider has allowed the company to support tens-of-thousands of merchants around the globe across a wide range of industries. Optimal Payments Plc is quoted on the London Stock Exchange's AIM market, with a ticker symbol of OPAY. Subsidiary company Optimal Payments Ltd is authorised and regulated as an e-money issuer by the UK's Financial Conduct Authority (FRN: 900015).
SOURCE Optimal Payments Plc.