Vantiv, a US-based credit card processor, has collaborated with Magento Commerce, a provider of scalable ecommerce solutions, to develop comprehensive ecommerce payments and security extensions for the Magento 1 and Magento 2 platforms.
The proposed integrations will help Magento merchants – especially those that use the increasingly widespread subscription, or recurring payment, business model – to maximise customer lifetime value and grow revenue.
Vantiv’s Magento extensions will include the traditional credit and debit card processing, gift cards, mobile wallets (Apple Pay and Android Pay), alternative payment methods such as eCheck and PayPal, Level 1, Level 2, and Level 3 card processing, and international payment options.
Additionally, it will feature other value-added services and supplementary payments capabilities, including Vantiv Recovery (account updating and authorisation recycling), Vantiv Recurring Engine, Vantiv Issuer Insights, Vantiv iQ for eCommerce, Vantiv eProtect, Vantiv Fraud Toolkit, and Tokenisation.
Currently, Vantiv’s extension for Magento M2 is available from the Magento Marketplace, while the M1 platform extension is planned for release later this fall.
Vantiv head of ecommerce Greg Worch said: “Our eCommerce processing solutions will provide Magento merchants with a number of convenient payment methods – plus help safeguard their online stores and offer business-impacting customer data.
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“We believe our stature as a Magento Select Technology Partner, coupled with our extensions to the highly popular Magento 1 and Magento 2 platforms, will enable us to further expand our brand and reach among the merchants within this important network.”