Auction Payment Network Announces Specialized Payment Processing Solutions for Auction Companies

July 6, 2010 - PRLog -- Auction Payment Network (APN), a Proxibid company, today announced the industry’s first payment processing solution developed specifically for auction companies.  APN will provide auction companies with a PCI-compliant solution that ensures secure, one-click processing for on-site and online purchases at the lowest rates in the industry.

APN was created with the assistance of auctioneers and places the business needs of auction companies at the forefront of its solution.  With remote deposit capture, single and recurring ACH transactions, card payments and ID validation services on a single platform, APN can meet the needs of auction companies of all sizes.  Additionally, APN is compatible with most merchant processors, making it easier than ever for auctioneers from across the globe to take advantage of this powerful payment processing solution.

“APN will transform the way I reconcile and invoice auctions moving forward,” said auctioneer Darron Meares of Meares Auction Group.  “With one-click processing, closing auctions will be easier than ever, and because the solution is PCI compliant, my bidders can feel even more secure with their online transactions.”

All of APN’s products and services meet the payment card industry’s stringent security requirements.  APN was built on a secure network which protects cardholder data and encrypts this data when being transmitted across the network.  The Company maintains a vulnerability management program, implements strong access control measures, regularly monitors and tests networks and maintains an information security policy to ensure a secure environment for all cardholder data.  

“We are delighted to provide APN as a payment processing solution for our auction company clients,” said Bruce Hoberman, CEO of Proxibid.  “Proxibid consistently offers our clients the best products and services in the industry, and we believe that adding APN will greatly enhance productivity and decrease costs for our auction company clients, while providing the most secure transactions possible for our bidders.  It’s truly a win-win for everyone.”

“APN was designed with the auctioneer in mind,” said Joe Petsick, Executive Vice President of Operations for Auction Payment Network.  “Understanding how auction companies process transactions was paramount for our development team, and we’ve been able to pinpoint the areas we believe auction companies find most useful when reconciling and invoicing their events, such as ensuring a secure transfer of funds directly from the bidder’s account to that of the auction company.”

Auction Payment Network is currently boarding clients to take advantage of its suite of payment processing solutions.  Product downloads will be available in mid-August.

About Auction Payment Network
Founded in 2010, Auction Payment Network (APN) is the first online payment processing solution designed specifically for auction companies.  Created with auctioneers in mind, APN’s sophisticated and user-friendly solution is designed to make payment processing easier and more efficient than ever before.  

Never again will an auctioneer have to spend countless hours following an event inputting credit card numbers because our PCI-compliant solution offers secure, one-click processing for on-site and online purchases.  Additionally, APN is compatible with most merchant processors, making it easier than ever for auctioneers from across the globe to take advantage of this powerful payment processing solution.

Auction Payment Network is a wholly owned subsidiary of Proxibid, Inc., the world’s largest provider of live auction webcasting services.   Visit Auction Payment Network online at www.auctionpaymentnetwork.com.

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About Auction Payment Network
Founded in 2010, Auction Payment Network (APN) is the first online payment processing solution designed specifically for auction companies. Created with auctioneers in mind, APN’s sophisticated and user-friendly solution is designed to make payment processing easier and more efficient than ever before.

Never again will an auctioneer have to spend countless hours following an event inputting credit card numbers because our PCI-compliant solution offers secure, one-click processing for on-site and online purchases. Additionally, APN is compatible with most merchant processors, making it easier than ever for auctioneers from across the globe to take advantage of this powerful payment processing solution.

Auction Payment Network is a wholly owned subsidiary of Proxibid, Inc., the world’s largest provider of live auction webcasting services. Visit Auction Payment Network online at www.auctionpaymentnetwork.com.