Phoenix Managed Networks Awarded Contract by CT Payment, Inc. for Secure Payment Transaction Delivery Services

RESTON, Va.--(BUSINESS WIRE)-- Phoenix Managed Networks, LLC has been awarded a multi-year agreement by Montreal, Quebec-based CT-Payment to provide mission critical financial transaction transport services to CT-Payment and its customers.

Under the terms of the agreement, Phoenix Managed Networks will deliver INTERAC^® debit and credit card point-of-sale transactions to CT-Payment data centers over Phoenix Managed Networks’ PCI-certified and encrypted network. Merchant terminals will have access to the Phoenix Network via 1-8xx dial, encrypted Internet, and wireless connections throughout Canada and the United States.

Phoenix Managed Networks, formerly HBNet, operates the only fully encrypted payment network in North America and Europe, providing transaction delivery services to financial institutions, payment acquirers, ISOs and merchants in the United States, Canada, Europe and the Caribbean. Phoenix will also provide CT Payments and its customers with value-added capabilities to assist in areas such as end-to-end encryption, risk management, card security and management information and reporting.

With its choice of Phoenix, CT-Payment will continue to provide multi-protocol support for a wide array of POS terminals and the highest levels of network availability in the Canadian payments industry, while benefiting from reduced operating costs.

Ray Gingras, Chief Operating Officer, CT-Payment, said: "Phoenix Managed Networks’ presented a compelling value proposition that will help CT-Payment deliver on its strategic objectives. In our continuing efforts to streamline operational costs while delivering best-of-breed service, Phoenix was the clear choice based on technology, industry experience, and proven leadership.”

Dan Budhoo, Canadian General Manager for Phoenix Managed Networks, said:“Phoenix Managed Networks is delighted to welcome CT-Payment, one of the premier Debit and Credit Card processors in Canada, to its global family of payment processing clients. With Phoenix Managed Networks, CT-Payment will leverage the most cost-effective and state-of-the-art POS network available to the financial services industry today.”

About CT-Payment:

Born from Central Tax Inc., which was founded in 2002, CT-Payment is a new company which operates in two domains: the electronic processing of debit and credit card payments, and the management and payment of property taxes. CT-Payment objective is, for both these fields, to centralize and standardize the processing of transactions in a secure, stable, reliable, and high-performance environment. For more information, please visit www.ctpayment.com

About Phoenix Managed Networks:

Phoenix Managed Networks, the next generation payment network, is a global provider of payment communications delivery and support services, bringing state-of-the-art, reliable and cost-effective transaction communications services to the payments industry. For information, please visit www.phoenixmanagednetworks.com

Phoenix Managed NetworksDan Budhoo, 647-351-0536
[email protected]

Source: Phoenix Managed Networks, LLC