Vanco Services, LLC Announces New Text Payment Service

MINNETONKA, Minn., Nov. 24, 2010 /PRNewswire/ -- Vanco Services, LLC, a leading provider of electronic payment solutions, announces a new service that gives clients the ability to accept payments or donations sent by text message. Individuals can text payments anytime, anywhere using any mobile phone.

Cell phones and smart phones are ubiquitous, setting the stage for explosive growth in mobile payments. A recent survey by Mercatus LLC, a strategic consulting firm, found that nearly 80 percent of those between the ages of 18 and 34 will use mobile financial services within five years. In fact, when given a choice, people in this age group are more than twice as likely to leave their wallets at home than their mobile phones.

"We anticipate strong interest in this new service -- especially among people who are always on their mobile devices," said Jeanne Spencer Rose, CEO of Vanco Services. "As a financial technology company," adds Bill Learst, Executive Vice President and Chief Technology Officer, "we continually leverage our extensive knowledge of payment gateways and payment processing engines to develop innovative electronic payment solutions for our clients."

Vanco is a PCI (Payment Card Industry) Level 1 Compliant Service Provider, offering several electronic payment solutions that may be deployed individually or as a comprehensive suite. The company currently processes electronic payments for more than 15,000 clients, including businesses, municipalities, churches and nonprofit organizations.

Vanco Services, LLC is a Minnesota-based provider of electronic payment solutions to businesses and organizations of every size. More than 15,000 clients use Vanco's suite of e.service® payment solutions to securely and efficiently process payments and donations. Vanco is a PCI Level 1 Compliant Service Provider. Learn more at http://www.VancoServices.com.

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SOURCE Vanco Services, LLC