NEW YORK, Dec. 8, 2010 /PRNewswire/ -- US Digital Transactions Corporation announced today an exclusive partnership with SignatureLink, Inc.
The two companies have partnered to create a new form of payment transaction for online retailers. The new eCommerce hybrid payment type is a signature-based Card-Not-Present (CNP) transaction with promise to pay. The new payment type will be dubbed CNPS. The patent-pending technology will easily integrate with all existing PCI-compliant eCommerce applications and payment gateways. The CNPS is currently in beta development.
"Currently there is not an interchange rate or category for CNPS card-not-present signature transactions. The new transaction type is in full compliance with the U.S. Federal UETA and ESIGN Act and we intend on lobbying the card associations to accommodate the new transaction type. This is a game changer for eCommerce worldwide and will have a major impact on reducing overall cost of payment acceptance and fraud," states Greg Wooten, CEO, USDT.
"In 2004 this web-based, real-time, handwritten electronic signature technology was conceived and SignatureLink became a pioneer in the space. The time is right, the market is ready and our partnership with USDT is a major step forward in fulfilling our desire to bring this new CNPS payment type to the eCommerce community," states Ernie Coward, CEO, SignatureLink.
US Digital Transactions Corporation is a recognized leader in cutting-edge payment processing technologies, disaster recovery and asset protection solutions. High-volume merchants, issuing / acquiring banks and financial institutions deploy USDT's products and services to streamline operations and reduce payment processing expenses. USDT is committed to providing a secure environment for financial transactions and educating the global business community on best practices to reduce fraud and the overall cost of payment processing worldwide.
SignatureLink, Inc. has enabled companies to accept legally binding electronic signatures online since 2005. Their proprietary, biometric, wet-signature equivalent technology was developed to facilitate the capture of real-time electronic signatures over the Internet for a variety of applications such as Online Point of Sale Transactions, Electronic Agreements, Mobile Devices, and Remote Authorizations. In addition to a portfolio of industries served including eCommerce, banking, legal, pharmaceutical, and transportation, SignatureLink also helps small businesses and midsize companies. SignatureLink's new web-based CNPS transaction solutions are highly versatile, quick-to-execute, and integration-ready.
Information is available at: http://www.usdtcorp.com
SOURCE US Digital Transactions Corporation