SOURCE: Sage North America

Sage North America

December 21, 2010 11:31 ET

Sage Payment Solutions Following Durbin Amendment With SMBs in Mind

MCLEAN, VA--(Marketwire - December 21, 2010) - Sage Payment Solutions, the payments division for Sage North America and a multinational payment processor to small and midsized businesses (SMBs), today released the following statement in response to the Federal Reserve Board's December 16 publication of proposed rules regarding debit card interchange fees and routing under Section 1075 (Durbin Amendment) of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Sage Payment Solutions has been closely following the Durbin Amendment, taking a special interest in how it could impact SMBs. The company is working closely with its partners and customers in order to react quickly with payment solutions to mitigate any potential negative impact and take advantage of new opportunities that may arise if the proposal moves forward.

"Regulatory impacts on payment networks can cause marketplace disruption -- from the potential for new bank fees placed on debit cards driving down debit card use, to the potential of powerful new loyalty-driven payment solutions from large retailers grabbing a larger piece of consumers' wallets," said Greg Hammermaster, president of Sage Payment Solutions. "It's more important than ever that small and midsized businesses look progressively at their payments environment, so they can quickly adapt to new marketplace realities as they occur."

Sage recommends that SMBs not only continue to embrace the customers' preferred form of payment, but also start looking at alternative payment solutions -- like gift cards, loyalty cards, and mobile payment applications -- to augment their existing payments programs.

For more information on Sage Payment Solutions, please visit www.sagepayments.com or call 800-261-0240.

About Sage Payment Solutions
Sage Payment Solutions, the payments division for Sage North America, has been providing businesses and organizations with electronic payment systems for more than 20 years. The company makes electronic payment processing easy for more than 155,000 merchants, allowing them to accept multiple forms of payment, including credit and debit cards, electronic checks, Check21, gift and loyalty cards, and automatic recurring payment. Sage Payment Solutions provides a wide range of secure standalone and integrated payment processing solutions. Sage Exchange, its PA-DSS certified payments platform, integrates with many Sage software products to maximize the value of customers' business systems with automatically updated credit and debit card transaction information. Future Sage Exchange releases will offer additional integrated payment capabilities, including advanced point-of-sale (POS) device integration, payment origination solutions, and cash management applications. For more information about Sage Payment Solutions, please call 800-261-0240, or visit www.sagepayments.com.

About Sage North America
Sage North America is part of The Sage Group plc, a leading global supplier of business management software and services. Sage North America employs 4,000 people and supports 3.2 million small and midsize business customers. The Sage Group plc, formed in 1981, was floated on the London Stock Exchange in 1989 and now employs 13,400 people and supports 6.3 million customers worldwide. For more information, please visit the website at www.sagenorthamerica.com.

Contact Information