“It is an honour to receive two Best in Category wins at the very first CNP Awards,” said Fred Gore, senior vice president, eCommerce Solutions, First Data. “We focused our attention during the last few years to deliver a best-in-class eCommerce processing platform, and this award validates the hard work and market penetration that we’ve experienced with our Compass platform. With Google Wallet, we continue to see acceleration in consumer, merchant and financial institutions’ adopting this technology to pay for goods and services as mobile devices become ever more embedded into our daily lives.”
The Compass platform was built for high-growth and global CNP merchants. It offers a processing solution for merchants with multi-channel needs. The platform has a comprehensive set of payment methods, international capabilities and integrated advanced functionality. Additionally, Compass provides an extensive set of integration options to provide merchants flexibility that best matches their business needs and requirements – direct integrations, proprietary gateway, APIs, SDKs and third party integration options. Since its launch in mid 2009, the Compass platform has achieved more than 300 percent growth in transaction volume each year.
Launched in September 2011 by Google, Sprint, First Data, Citi and MasterCard, Google Wallet is an application that turns a phone into a wallet. It stores virtual versions of existing credit and debit cards, along with coupons, loyalty cards and gift cards.