LONDON, July 19, 2012 /PRNewswire/ -- Today, ALLIED WALLET, a globally leading provider of online credit card processing, multi-currency merchant services, state-of-the-art payment processing, digital eWallet solutions, and a PCI Level 1 payment gateway, was listed as an approved Visa Merchant Agent.
The term 'agent' includes any entity that provides payment or payment-related services to merchants such as digital wallet providers, payment processors, shopping cart software solution providers, and web hosting companies.
Visa Europe has ruled that, beginning on December 31, 2012, banks should only allow merchants to use merchant agents that have been registered and approved by Visa Europe to ensure that agents have complied with appropriate standards of security and maintain acceptable business practices.
There are roughly 6,000 agents providing services for merchants in Europe. As of today, there are only forty-five Merchant Agents that have been granted approval. By January 1, 2013, banks must move all merchants from existing agents to approved agents that have been listed by Visa Europe or they must terminate the merchants' processing contracts.
Failure to do so will result in penalties from Visa Europe. The purpose of the approval process is to encourage online retailers to reduce risk, improve data management, and protect their merchants from online fraud and data compromisation.
Allied Wallet is proud to be registered on Visa Europe's list of approved Merchant Agents and pairs this exemplification of their security methods with their PCI DSS Level 1 Compliance certification.
Andy Khawaja, CEO of Allied Wallet, stated, "This registration, combined with our PCI DSS Compliance, demonstrates Allied Wallet's commitment to the security and reputation of all its partners. At Allied Wallet, we provide leading-edge services, security, and value. We are very happy to receive recognition from Visa Europe. We will continue to provide and maintain the highest security standards."
About Allied Wallet:
Allied Wallet continues to revolutionize the e-commerce industry by introducing new and innovative payment processing solutions for online merchants, enabling them to send and receive payments globally. With PCI compliant merchant services for nearly any business size, Allied Wallet provides a state-of-the-art payment gateway to optimize online transactions. Please visit www.alliedwallet.com for more information.
SOURCE Allied Wallet LTD