United States Postal Service Selects Vantiv for Complete Suite of Omni-Channel Solutions
Contract awarded to Vantiv for both debit and credit payment processing servicesCINCINNATI, June 16, 2015 – Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and related technology solutions for merchants and financial institutions of all sizes, announced today that it has been selected by the United States Postal Service to provide a full suite of omni-channel payment solutions. Vantiv’s processing services will support the efficiency, scale and functionality required for the large volume of retail visits to Postal Service locations nationwide as well as those to usps.com.
“With the rapid evolution taking place in payments, there is a need in the marketplace for highly flexible, scalable and easily integrated solutions that can meet the dynamic demands of a large retail customer base,” said Royal Cole, group president of merchant and financial institution services at Vantiv. “This contract with the Postal Service is another example of how the strength of Vantiv’s omni-commerce solutions, innovative capabilities and service leadership is helping us win new clients.”
The agreement includes a full suite of payment solutions, including Vantiv’s innovative risk and data security solutions designed to help protect customers’ sensitive data and deter the use of fraudulent credit cards. Vantiv’s encryption and tokenization technology helps protect customer data at the point of entry as well as data held for use in reconciliation, chargeback processing and other functions such as recurring payments.
Vantiv’s ecommerce PayPage and OmniToken solutions enhance the online customer experience by replacing cardholder data with tokens that can be used in place of payment data.