Troy, MI, July 21, 2014 — Today North American Bancard launched Velocity, a payment platform that will continuously provide normalized secure payment tools and workflows for software developers to continue building emerging technologies for their clients. The core of Velocity is a perpetual software license acquired by North American Bancard from 9-year-old Denver-based company IP Commerce, Inc. This acquisition will enable North American Bancard to support and scale its software community with intelligent solutions, as well as recruit select software developers who are compatible with this license.
Velocity provides a single integration access to a wide array of payment services including credit card, debit card, check, ACH, and gift/loyalty card processing to an ecosystem of world-class payment service providers. Technology partners can easily combine transaction services, value added capabilities, and data services into rich vertical bundles with Velocity, regardless of industry type. Velocity APIs simplify the delivery of multi-service offerings and enable developers to create intelligent multi-touchpoint solutions.
"Velocity provides the best technology available to provide what merchants need right now," said Marc Gardner, founder and CEO of North American Bancard. "This is a big step forward for North American Bancard. We're also happy we can do it in-house, providing the same service and sales team that has been the bedrock of our success for over 20 years."
Yasser Abou-Nasr, former executive at Shopkeep.com and SVP of Commerce Services group operating Velocity at North American Bancard, said, "As a leader in credit card processing, with this integrated platform, North American Bancard is able to offer developers, integrated software vendors and value-added resellers intelligent secure solutions bundled with payment processing to meet their merchant needs. Managing this technology internally, we are able to scale this platform with front-end processing solutions that best fit our partners, enabling them to focus development efforts on the demands of their clients outside of payments."
To learn more about Velocity, go to www.nabvelocity.com
Headquartered in Troy, Michigan, North American Bancard is a multi-faceted payment solutions provider dedicated to providing the latest technology as well as committing to the highest service levels. As a registered ISO since 1992, North American Bancard provides its clients with a full suite of products and services including credit, debit, EBT, check conversion and guarantee, ATM, gift and loyalty cards and online payment gateway solutions. NAB processes over $16 billion in electronic transactions annually for over 250,000 merchants nationwide. For more information, visit www.nabancard.com.