| Traverse Global Communications Corp Announces Partnership with Wells ...
Traverse Global Communications Corp is now an authorized private label reseller for Wells Fargo and Authorize.Net merchant account services to provide online real time e-commerce transactions. (PRWEB) October 11, 2005 -- Traverse Global Communications Corp has agreed to exclusively offer Wells Fargo merchant accounts and Authorize.Net transaction processing services to it's client base. By offering private label merchant accounts through it's Credit Plus (http://www.creditplus.net/) subsidiary, Traverse Global will be able to leverage the depth of quality services that their new partners offer to their existing client base. For just $29.95/mo, clients of Traverse Global will be able to process credit cards in real time through their own website and receive free web hosting along with a free shopping cart to conveniently process their orders.
VeriFone to Offer Managed Payment Services to Mexico Merchants
VeriFone Holdings, Inc. (NYSE: PAY) today announced formation of VeriFone Access to provide merchant hosted services for managing electronic payments, beginning in Mexico. VeriFone Access was formed with VeriFones investment and in partnership with Tienda-kit, an innovative Mexican third-party acquirer and merchant services provider, which now operates as VeriFone Access. VeriFone Access will offer a variety of merchant payment services in Mexico and other emerging economies. The companys first offering will be a hosted managed service platform based on a proprietary transaction handling technology and on VeriFones PAYware software products. Managed services are an increasingly important component of VeriFones strategy to broaden acceptance of electronic payment and increase the delivery of value added services, said Douglas G.
Fannie in Her Own Words
It just means that there are a lot of other securities below it, which will absorb initial losses. The danger is that this cushion is not much protection if the underlying collateral turns to dust... The latest Citi blow contained three scary nuggets. The first is nobody really knows where the CDO debacle will lead. The complexity of valuing these things - not just how the cash from the underlying collateral gets divvied up but how the the default rates of the different securities correlate - was underscored by the $3bn range Citi attached to its potential hit. The second is that the scale of the mess could be even greater since there are many synthetic CDOs out there referencing the cash CDOs. Lastly, Citi added yesterday for good measure that all it had detailed was its direct exposure. Along with others, it may have offloaded credit risk to bond insurers.
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