Online payment processor SafeCharge has been granted principal membership status for merchant acquiring by VISA Europe.
The company said that the VISA approval complements its membership of MasterCard Europe, which was granted in December of last year, and allows SafeCharge to directly acquire and process Visa and MasterCard transactions for merchants in the UK and across Europe.
SafeCharge said that the membership status will reduce the company's direct acquiring cost structure, accelerate the merchant acquisition process and improve its competitive position for winning new business.
“Principal Membership of both VISA Europe and MasterCard Europe is a major milestone for SafeCharge and a key part of our strategy to position the company as a leading player in online payments,” said SafeCharge CEO David Avgi. “The membership has been granted following a thorough due-diligence process and serves as a stamp of approval for the quality and transparency of our technologies and services.
“I am proud of this achievement and look forward to working as a member of the schemes and the benefits this will bring.”
Shares in SafeCharge International Group Limited (Co. Data) (AIM:SCH) were trading at 195.00 pence per share in London this morning following the announcement.