NEW YORK, Jan. 14, 2015 /PRNewswire/ -- JetPay® Payment Services - a division of JetPay Corporation (NASDAQ: JTPY) -- a full end-to-end payments processor specializing in complete technology solutions for the e-commerce and card-not-present marketplace, and Cardis USA, a division of Cardis International, the award-winning developer of low-value payment processing solutions, announced Wednesday the launch of a new small payments processing solution. This solution is designed for digital content providers in entertainment, publishing and gaming industries. The new product enables digital content retailers to significantly reduce processing costs and offer products at a more granular level, giving retail customers what they want and generating new revenue opportunities while reducing payments processing costs.
Cardis and JetPay have entered into the commercial agreement for joint marketing of this solution. The integration of Cardis' small payments platform with JetPay's flexible processing platform has been completed, allowing both organizations to offer a full range of card acceptance services for accepting credit, debit, and prepaid cards - with Cardis' small payments processing as the key differentiator.
Cardis' patented technology enables several small consumer transactions to be handled as one larger value transaction processed through a payment network. By spreading the processing cost of this single, larger value transaction over a number of small payments, the overall cost is significantly reduced, enabling online retailers with customers making repeat small purchases to reduce their processing costs by up to 70 percent.
"We are very excited to announce the launch of our solution with JetPay," said Nebo Djurdjevic, Chief Operating Officer at Cardis International. "Our initial focus is on the music industry, and we are currently on-boarding customers preparing to launch their online and mobile stores using our payments platform. The first store is expected to launch in February 2015."
He continued, "Currently, the music industry relies heavily on third-party, online retailers to sell music to fans. These online retailers take 30 percent or more of every dollar sold through their platform with a large share of this percentage going toward covering the cost of processing small payments. Cardis and JetPay are excited to offer our new solution that reduces this expense making traditional credit/debit card payments affordable for small payments."
"JetPay's expertise has always been in providing unique solutions in the e-commerce and card not present markets. The Cardis relationship and the focus on the digital media market is a wonderful enhancement for the markets JetPay already serves well," said Trent Voigt, Chief Executive Officer of JetPay Payment Services. "As JetPay began working with Cardis, both companies saw a promising opportunity in the market by combining our products, and JetPay looks forward to serving this important market segment."
"The music industry landscape has changed significantly over the years through the introduction of new technology. Currently, the business model in place does not really favor artists and entrepreneurs' interests. Online retailers eat up a significant chunk of the revenue in processing fees," said veteran music executive and founding partner of All Def Digital, Steve Rifkind. "Cardis' new system allows for savings to be redistributed in the music value chain to provide higher income for artists who can then create more music, content and merchandise."
About Cardis
Cardis is an award-winning provider of low-value payment processing solutions. Since its inception, Cardis has set out to transform the small payment ecosystem for the better. The goal is to turn low value payments into small profitable payments for digital content providers, retailers and processors. Cardis' disruptive technology is poised to transform industries that will benefit from offering products at a more granular level. The small payment revolution is about to begin with innovations taking place in publishing, entertainment and gaming, to name a few. For more information please visit: http://cardis-international.com
About JetPay Corporation
JetPay Corporation, based in Berwyn, PA, is a leading provider of vertically integrated solutions for businesses including card acceptance, processing, payroll, payroll tax filing and other financial transactions. JetPay provides a one vendor solution for payment services, debit and credit card processing, ACH services, and payroll and tax processing needs of businesses throughout the United States. The Company also offers low-cost payment choices for the employees of these businesses to replace costly alternatives. The Company's vertically aligned services provide customers with convenience and increased revenues by lowering payments-related costs and by designing innovative, customized solutions for Internet, mobile, and cloud-based payments. Please visit www.jetpay.com for more information on what JetPay has to offer or call 866-4JetPay (866-453-8729)
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SOURCE Cardis
