Major Payment Systems LLC, a provider of financial transaction processing, announced an exclusive partnership with The StoneEagle Group for the purpose of processing warranty and insurance related claims payments via Major Payment Systems’ vCom Virtual Credit Card Platform.

StoneEagle built the Virtual Card solution for service contract administrators and collaborated with Major Payment Systems to create the first true business-to-business credit card. Service contract administrators no longer need to worry about fraud, overcharge or subsequent charge situations by repair facilities. The Virtual Card eliminates the cumbersome reconciliation process and repair facilities receive funds the same day.

"We needed a vehicle to facilitate claims payments for our clients. Major’s Virtual Credit Card Platform will give us the ability to offer our clients a fully integrated payment solution for high volume claims payments," said Robert Allen, president of StoneEagle.

"This partnership has opened the doors to many opportunities for us," said Randy San Nicolas, vice president of business development for Major Payment Systems. "StoneEagle’s proven track record and experience in their respective field is what makes our new relationship exciting. Their creative application of existing pay-ment services will increase our processing volume exponentially."