Newtek Business Services, Inc., The Small Business Authority, Introduces NewtPay(TM) and NewtPay Pro(TM) for Online Ecommerce Business Operators
January 14, 2010: 09:01 AM ET
NEW YORK, Jan. 14, 2010 (GLOBE NEWSWIRE) -- Newtek Business Services, Inc. (Nasdaq:NEWT), The Small Business Authority, has announced the introduction of its newest Ecommerce products, NewtPay(TM) and NewtPay Pro(TM), to streamline online operations for small businesses including start-ups.
In response to the needs of its small business customers, Newtek created NewtPay(TM) and NewtPay Pro(TM) to deliver a seamless, online Ecommerce solution by harnessing the knowledge and expertise of two of Newtek's primary small business services, Newtek Web Services and Newtek Merchant Processing,. Both products draw on the three core areas necessary for an effective Ecommerce product: * accelerated approval for merchant payment processing accounts;
- 48 hour availability of funds from online transactions; and
- a single telephone number to call for all facets of online storefront activity including website access, hosting, gateway, shopping cart and electronic payment processing.
"In handling online, electronic storefronts as well as the brick and mortar presence for tens of thousands of business owners over the past decade, we found that most customers had similar Ecommerce needs," commented Barry Sloane, CEO and Chairman of Newtek. "NewtPay(TM) and NewtPay Pro(TM) were developed with those client demands in mind, including increased security and compliance updates which incorporate the latest directives for data center protection and PCI Compliance."
NewtPay(TM) is primarily focused on the Website Designer and Developer community as well as business owners establishing their initial online e-commerce presence to provide a competitive solution to PayPal(TM), with superior pricing, customer funds availability and Newtek's standard, superior customer service. NewtPay Pro(TM) provides features and enhanced functionality to those businesses that currently have an online presence. Given that small business owners across the U.S continue to fight through a tough economy, Newtek is in the market everyday doing what it can to help businesses reduce costs, provide needed capital and solve their Ecommerce needs.
About Newtek Business Services, Inc.
Newtek Business Services, Inc. is a direct distributor of a wide range of business services and financial products to the small- and medium-sized business market under the Newtek(TM) brand. Since 1999, Newtek has helped small- and medium-sized business owners realize their potential by providing them with the essential tools needed to manage and grow their businesses and to compete effectively in today's marketplace. Newtek provides one or more of its services to over 100,000 business accounts and has positioned the Newtek(TM) brand as a one-stop-shop provider of such business services. According to the U.S. Small Business Administration, there are over 29.6 million small businesses in the United States, which in total represent 99.7% of all employer firms.
Newtek's business service lines include: * Electronic Payment Processing: Ecommerce, Electronic solutions to accept non-cash payments, including credit and debit cards, check conversion, remote deposit capture, ACH processing, and
electronic gift and loyalty card programs.
- Web Hosting: Full-service web host which offers Ecommerce solutions, shared and dedicated web hosting and related servicesincluding domain registration and online shopping cart tools.
- Business Lending: Broad array of lending products including
- SBA 7(a) and SBA 504 loans.
- Insurance Services: Commercial and personal lines of insurance, including health and employee benefits in all 50 states, working with over 40 insurance carriers.
- Web Services: Customized web design and development services.
- Data Backup, Storage and Retrieval: Fast, secure, off-site data backup, storage and retrieval designed to meet the specific regulatory and compliance needs of any business.
- Accounts Receivable Financing: Receivable purchasing and financing services.
- Payroll: Complete payroll management and processing services.
For more information, please visit www.newtekbusinessservices.com. CONTACT: Newtek Business Services, Inc.
Barry Sloane, Chairman and CEO
212-356-9500
bsloane@newtekbusinessservices.com
