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Industry News

Merchant account firm lowers prices

By Tom Lu

18/03/2011 - A merchant account company recently made headlines when it announced that it was lowering prices in order to help retailers during the tough economy.

First Data Independent Sales said that it was reducing its prices for services provided by InstaMerchant.com, the company's merchant account structure, by a significant amount. The company said that its rates were the lowest in its history and that it was a new industry standard.

"Without question this is the lowest pricing we have ever offered our merchants. In fact, this is some of the most aggressive pricing you will find anywhere in the industry. Combine that with the fact that First Data is by far the largest processor in the industry and we feel we are giving a very potent offering to our merchants," says David Standage, a registered agent of FDIS and owner of InstaMerchant.com.

First Data made other headlines recently when it appointed a new head of the company's European, Middle Eastern and African operations. John Elkins was appointed president of the company's international offices after previously serving as its chief marketing and strategy officer.

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