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Press Room Archive: August
2006
VeloCT Gateway
Technology Supports Hotel Interchange Rates
(Lacey, Washington) – Fast
Transact, Inc., a leader in high performance
Internet transaction processing, announced
today that they have secured Certification
for Hotel Interchange rates for users of
their popular Digital
Payment Platform.
VeloCT has branded this program RPM (Rental
Payment Management) and will roll it out
in October, 2004 at the Vacation Rental
Management Association in San Francisco,
CA.
This added certification enables independent
reservation agents and vacation property
management companies to engage in booking
and billing hotel or rental property transactions
over the Internet to qualify for lower
rates. These transactions can now be processed
with the same favorable pricing and convenience
as major hotel reservations systems in
both card-present and card-not-present
situations.
As a part of the RPM (Rental Payment Management)
program merchants may, after an amount
has been authorized for a purchase, but
prior to capture, increase the amount to
be charged without requiring a second authorization.
Prior to committing to a final reservation,
the booking agent and customer can explore
options of different dates, duration of
stay, or level of room or service within
the scope of the original authorization.
For Visa issued card transactions the total
may also be reduced by any amount down
to zero, restoring to the cardholder appropriate
available credit.
"This feature allows independent reservation
agents to match both the transaction costs
and convenience factors of large proprietary
hotel reservations systems. The ability
to make real-time changes to reservations
improves customer service and reduces cost." said
David Solomon, CEO of Fast Transact, Inc.
He added, "Constant development of our
Digital Payment Platform assures that market
needs are being met and that our agents
and resellers have continued opportunity
to expand their business into new and exciting
markets."
For additional information on VeloCT's
Digital Payment Platform please visit us
at
About Fast Transact, Inc.
Fast Transact, Inc., develops, markets,
and supports e-commerce and retail solutions
that facilitate secure online or retail
credit card processing. Complete and comprehensive,
Fast Transact's solutions bridge the gap
between retail and internet credit card
data compilation, security, and the nightmare
of integrating the various components both
retail and internet.
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