Veracity Licenses WorldNet Technology for U.S. Payment Gateway

Jan. 27, 2011

Veracity Payment Solutions, Inc. recently announced it has signed an agreement with WorldNet to license the Dublin-based secure online payment services provider’s platform in the United States. Under the agreement, WorldNet will provide Veracity with source code and collaborative development support for a payment gateway in the U.S. “Veracity will be able to compete at the highest level of e-commerce and m-commerce processing with the addition of our new multi-currency gateway product,” said Joseph Cohane, CEO of Veracity Payment Solutions. “Veracity is the first U.S. acquirer to offer this proven gateway solution to merchants in North America. The ability to own our own customized version of the software supported by the talented professionals of both organizations brings Veracity’s product offering to an exciting new level,” said Cohane. The agreement, which the companies have called “unique,” means Atlanta-based Veracity can tailor its payment-processing platform to expand in the small to medium sized business sector with customized low-cost solutions. Specific terms of the agreement were not disclosed.