PayTech and MasterCard form alliance to further mobile and eCommerce payments in Puerto Rico

PUERTO RICO, Puerto Rico - Jan. 30, 2014 - PRLog -- Puerto Rican payment processor PayTech Corp and MasterCard have joined forces to grow mobile and eCommerce payment acceptance in Puerto Rico. Through Paytech's PayPocket Mobile and Payment Gateway.

About PayTech Corp

PayTech Corp, www.paytechco.com was San Juan, Puerto Rico - Date - Puerto Rican payment processor PayTech Corp and MasterCard have joined forces to grow mobile and eCommerce payment acceptance in Puerto Rico. Through Paytech's PayPocket Mobile and Payment Gateway services both companies expect to reach over 7,500 small and medium businesses that operate mostly in cash transactions within the first year of the alliance.

Paytech's PayPocket Mobile solution for Android and Apple iOS devices bring business owners the security of cashless payments via debit and credit card acceptance anywhere their business operates. The solution has been available on both Google Play and iTunes since early 2013 and is already being used by merchants like Taxis, Landscapers, photographers and other SMB's that need the flexibility of mobile transactions.

"Our mission has always been to keep our merchants at the forefront of electronic payment technology through our propietary solutions. This alliance with MasterCard is not only a validation of our work by the undisputed global leader in the payments industry but it also opens doors for us to grow in new markets in Latin America by exporting solutions like PayPocket Mobile," said Candido Alfonso, Paytech's CEO and founder. This alliance hopes to:

Increse sales and quality of customer service at merchants
Increase secirity and safety for the consumer since the need to carry cash will be reduced;
Improve consumer experience by adding new payment options at checkout.

"We are proud to work hand in hand with Paytech and their solutions, PayPocket Mobile and Payment Gateway to increase card acceptance," added Deanna Canedo, vice president of Acceptance for MasterCard's Geocentral region. "These solutions are part of our efforts to increase the use of electronic payments on the Island by allowing all types of businesses to offer more payment options with all the benefits and possibilities this brings not only to businesses but also our cardholders: ease of payment, security and efficiency."

Founded in 2004 with 100% local capital to bring to the Puerto Rico market new services and solutions for ACH, credit, debit and Check 21 processing. In 2012 PayTech Corp acquired the assets of DCAS Software Solutions based in Plano, Texas and has since created a portfolio of customers throught Puerto Rico and mainland United States. In 2009, PayTech launched the one of the first mobile payment solutions in Blackberry App World and in 2013 revamped it into what is today PayPocket Mobile available for Android and iOS devices. Paytech can be followed @paytech and @paypocketmobile or www.paypocketmobile.com

About MasterCard

MasterCard , www.mastercard.com is a global technology company in the payments industry. It operates the fastest payment procesing network in the world conencting consumers, financial institutions, businesses and governments in over 210 countries and territories. MasterCard's products and solutions enable daily commercial transactions such as, purchases, travel, business management and financial administration easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews or join the conversation in our blog, Cashless Conversations and subscribe to receive our most recent news.