The United States Postal Service has selected Vantiv, the payment processing service provider, to support payment solutions in its retail locations and online.
The agreement, announced last week, will cover payment operations along with security and risk protection for customers’ information, with an aim to prevent the use of fraudulent credit cards.
“Vantiv’s encryption and tokenization technology helps protect customer data at the point of entry as well as data held for use in reconciliation, chargeback processing and other functions such as recurring payments,” the company said.
“Vantiv’s eCommerce PayPage and OmniToken solutions enhance the online customer experience by replacing cardholder data with tokens that can be used in place of payment data,” they added.
USPS will now be able to utilize Vantiv’s processing services to support the efficiency, scale and functionality required for its large volume visits to its retail stores as well as its website.
“With the rapid evolution taking place in payments, there is a need in the marketplace for highly flexible, scalable and easily integrated solutions that can meet the dynamic demands of a large retail customer base,” said Royal Cole, Vantiv’s group president of merchant and financial institution services.
“This contract with the Postal Service is another example of how the strength of Vantiv’s omnicommerce solutions, innovative capabilities and service leadership is helping us win new clients,” Cole added.
Financial details of the deal were not disclosed, but a Vantiv spokesperson told the Cincinnati Business Courier its services will be provided at more than 33,000 USPS locations in the U.S., Latin America and Asia Pacific.
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