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AT&T, Vantiv Partner on New Merchant Payment Solution

Just a day removed from announcing its partnership with Microsoft to offer cloud-based mobile payment solutions to merchants, Vantiv (NYSE: VNTV  ) will also partner with AT&T (NYSE: T  ) to provide business owners with mobile payment solutions, AT&T said today in a press release.

In an effort to make gains in the fast-growing mobile payment market -- an industry some believe will grow to $90 billion in the U.S. by 2017 -- AT&T and Vantiv will offer merchants two mobile solutions, according to the companies. The first, Vantiv Mobile Accept by AT&T, is a downloadable app compatible with iOS and Android devices that will use a card reader, in conjunction with a smartphone or other mobile device, to accept credit and debit card payments.

The second solution the new partners introduced today is the Vantiv Mobile Checkout by AT&T. This product utilizes a cloud-based tablet to process merchant payments. The mobile checkout alternative also offers a receipt printer, tablet stand, and a cash drawer as user options.

Commenting on the decision to partner with AT&T, Elizabeth Rector, Vantiv's senior vice president and general manager for ecommerce and mobile, said, "AT&T's sales force and its retail locations create a powerful new distribution channel for Vantiv's mobile products to reach the millions of businesses who need this important functionality."

The partnership with Vantiv expands on AT&T's existing mobile payment solutions, which include AprivaPay and VeriFone GlobalBay.



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Tim Brugger

Tim has been writing professionally for several years after spending 18 years (Whew! Was it that long?)in both the retail and institutional side of the financial services industry. Tim resides in Portland, Oregon with his three children and the family dog.

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8/28/2015 4:00 PM
T $33.29 Down -0.15 -0.45%
AT&T CAPS Rating: ****
VNTV $44.51 Up +0.11 +0.25%
Vantiv CAPS Rating: **