He’s back. Credit card processing pioneer Tim Litle has reformed his payment processing firm Litle & Co. What’s new and different about this Litle & Co.? The Lowell, MA-based company’s Web-based payment processing system features extensible markup language (XML), a format for structuring documents and data using pairs of name tags to identify each type of field in a record. Using XML, systems can readily exchange data with other systems without programming individual interfaces.
The original Litle & Co. was founded in January 1986. The assets of the company were sold to FirstUSA (now BankOne), which renamed the company Paymentech in 1995. Litle then founded now defunct marketing and payment processing firm OrderTrust, also in 1995, and served as chairman until OrderTrust closed in June 2001.