Major Payment Systems, LLC Announces Business and Product Development Partnership With Internet Methods, Inc

Major Payment Systems, a leading provider of transaction management services and payment program development, announced the initiation of an international business development relationship with Arizona based Internet Methods, Inc.

(PRWEB) May 20, 2005 -- A large percentage of our business comes from third party processors, technology vendors or outside channel marketing groups. Internet Methods, Inc. is one of the few organizations we've come across that not only has the forward thinking ideas and strategies, but the technology to bring these ideas to market", says Randy San Nicolas, VP of Business Development of Major Payment Systems. We look forward to launching many new programs with iMethods, and increasing our processing volumes."

iMethods is excited about this relationship and the capabilities it will bring to the market place. The suite of financial solutions being made available through this relationship is common in their processes but when bundled with other iMethods products we are able to provide turnkey solutions to many industries. As an example, as early as 2003 financial analyst reports reported that US Banks are missing out on an estimated $8.5B in annual revenue by not providing Account-to-Account processing. It has also been reported that by the year 2005 60% of the US Banks would be selling third party products through Open Finance architectures as they struggle to market commoditized products.

iMethods built its system architecture for open access to lead the way in aggregating third party products within its iMethods Marketing Exchange System. These opportunities could not come to fruition unless there was at the heart of the transaction the ability to complete the financial transaction. Our new relationship with Major Payment Systems will provide a seamless integration to many of the banking industry processing," said Jim Pugh, President & CEO for Internet Methods, Inc.

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