BURLINGTON, Mass., May 1, 2019 /PRNewswire/ — Aliaswire, Inc., a leading, payments processing technology innovator, announced that it has received the 2019 Electronics Transaction Association’s (ETA) Technology Innovation Award. The company was recognized for its PayVus® platform, and the ETA award was presented to Aliaswire Tuesday at the organization’s Transact 2019 event in Las Vegas, NV.
To be nominated for the award, companies had to demonstrate that their product represented forward thinking consideration and execution in the use of technology to provide a creative solution that does one of the following: promotes customer usability, increases profitability, reduces friction, or otherwise enables significant advances for the payments’ ecosystem.
“Aliaswire is elated to receive this award and recognition by the payments industry for being a truly innovative company,” said Aliaswire President Scott Goldthwaite. He added that being recognized as a technology leader also serves as a tribute to the company’s former CEO and founder, Hoss Mohsenzadeh, who passed unexpectedly just five months ago. “This validates Hoss’ vision in the overall creation of our payment technology stack and the development of the PayVus platform.”
PayVus is the only turnkey settlement-to-card platform enabling ISOs and Acquirers to offer merchants a business credit card. For ISOs and Acquirers, interchange is a cost. However, for issuers, interchange is a revenue source. Aliaswire innovative approach enables ISOs and Acquirers to tap into issuer interchange revenue through the issuance of a PayVus MasterCard World Business card.
The PayVus card comes with a traditional revolving line of credit and is also funded by the merchant’s card processing receivables. Unlike merchant targeted debit and prepaid card programs, the transacting on the PayVus card helps merchants build a solid credit history. Additionally, while traditional card reward programs have limits on rewards, PayVus has no limit on savings.
Aliaswire provides a revenue share to the ISO/Acquirer from interchange generated when merchants make purchases with the card. ISOs and Acquirers can use the revenue share to reduce merchant processing fees. This revolutionary approach to merchant acquiring can yield significant savings through the reduction of merchant processing fees.
PayVus is a holistic solution delivering new residual streams and a competitive advantage to all payments industry stakeholders, including ISOs, Acquirers, Merchant Level Sales (MLS) organizations, and merchants. Providing merchants with integrated Accounts Receivable / Accounts Payable (AR/AP) solutions facilitate stronger relationships while reducing churn and increasing ISO and Acquirer revenue.
Goldthwaite said, “PayVus represents the evolution of merchant services. These value-added services and competitive pricing really make it easier for Acquirers, ISOs, and MLSs to build mutually profitable merchant relationships that stand the test of time.”