Moneta Corp. a known online payment processor has announced about changing of the company name. Now the company is called Rialto Commerce and its consumer-facing payment product for e-retailers - Rialto Pay.

According to Carol Kleywegt , VP of Rialto Commerce, they decided to call their company after the Rialto Bridge market in Venice, Italy. “The term ‘Rialto’ has historical significance as it pays tribute to the well-known Rialto Bridge market in Venice, Italy – one of the world’s oldest trade markets for merchants, financiers and discerning buyers,” she said. “The name Rialto Commerce underscores our plans to mirror the market’s role as a central facilitator for eCommerce transactions. Rialto Pay, our bank-sponsored payment wallet drives incremental eCommerce revenue for both banks and merchants. Through Rialto Pay, merchants market products to premium bank-qualified consumers while banks provide their customers with more online payment choices. Now, in addition to card payments, banks can offer consumers the option to pay securely from their bank accounts or use Rialto Pay’s innovative transactional credit service to pay later.”

Users will not be obliged to reregister with new system, all the accounts will be transferred to Rialto Pay automatically. According to Carol Kleywegt the company will implement the new branding with e-retailers through the rest of the year.