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Payments provider Datacap Systems Inc. is partnering with iStream Financial Services to add support for automated clearing house payments processing through Datacap’s NETePay payments platform and using Datacap’s PayAPI application programming interface. Datacap acquired the NETePay hosted payment gateway from Octopi (formerly Monetary.co) in 2019.
The deal with iStream will enable Datacap partners to consolidate online and in-store payments using the same payments platform they already use for in-store transactions, regardless of whether the merchant has separate processing relationships for card-not-present and in-store payments.
Benefits of offering ACH transactions for Datacap customers include lower transaction fees compared to credit card transactions, fewer declines, and a new payment option for merchants.
“Collaborating with Datacap allows their partners to now offer a choice when it comes to processing through their gateway,” Fred Joachim, president of iStream Financial Services says in a prepared statement. “Today…we see people wishing to pay in the manner that suits their personal tastes. Providing additional options, as we are doing here with this partnership, will go a long way towards increased customer loyalty and satisfaction.”
Datacap says it is partnering with iStream because it is an agnostic provider of ACH processing to banks and provides Datacap resellers greater flexibility. The deal also aligns with Datacap’s similarly agnostic approach to payment processing, the company says.
“An ideal alternative to standard credit cards for recurring transactions, ACH processing provides a faster, safer, and more reliable payment method for recurring billing to Datacap’s POS and white-label partners,” Justin Zeigler, director of product at Datacap Systems, says in a prepared statement.
