Epoch Transactions Services, aka Paycom Billing Services, an Internet Payment Service Provider (IPSP), announced today that they would begin accepting Switch and Solo – two additional electronic payment types that target markets in the United Kingdom.
Switch, which began business in 1988, and Solo, which started in 1997, currently have more than 29 million cards in circulation. Both cards may be used on the Internet to make purchases with merchants who display their logos. Both card types are being added to all Paycom payment acceptance forms effective immediately.
“We expect that by accepting Switch and Solo we will see a significant increase in sales from the UK,” said Clay Andrews, president of Paycom. “Switch and Solo are two of the most recognized payment types in the UK and Paycom is currently the only U.S. HRIPSP to accept this card type.”
Joel Hall, CTO of Paycom, said, “Integration of Switch and Solo is seamless to our clients who will not need to affect any changes to begin accepting these new card types.”
Use of the Switch card is expected to grow significantly as it is re-branded internationally as Maestro, and saw card volume top 68.7 billion British Pounds in 2003, or roughly $130 billion in U.S. dollars. Paycom also accepts the Switch/Maestro card type.
In the UK, plastic expenditure has overtaken cash for the first time and debit cards now account for two-thirds of all plastic card payments.
This new feature is the first of many to be released by Paycom in 2005 designed to help sponsored merchants make the most of their online businesses.
