First Atlantic Commerce Penetrates Asia to Service Its Growing
Consumer Card Payments Market
Accept Online Credit Card Payments in Asian Currencies
HAMILTON, BERMUDA -- (MARKET WIRE) -- May 02, 2007 -- First Atlantic
Commerce Ltd (FAC), a leading Internet multi-currency, payment
solutions provider, has generated industry buzz with its provision of
payment network access and banking relationships required to tap
Asian Pacific markets.
FAC's new credit card payment solution allows merchants looking to
expand in the region extended currency capabilities including the
ability to transact and settle in the major Asian currencies, namely
Hong Kong Dollars, Singapore Dollars, Yen and Australian Dollars.
US Dollar, Canadian Dollar, British Pound, Euro and South African
Rand processing is also available.
Merchants that sell to Asian consumers, or are looking to target
Asian consumer markets, are now able to easily process transactions
in the consumer's local currency.
Typically, it can be difficult to secure Asian payment solutions
outside of Asia, but the Internet has changed the market by allowing
merchants to process in Asian currencies and facilitate Asian
expansion from any region, according to FAC's CEO, Andrea Wilson.
"Our solutions allow merchants to connect with Asian consumers from
their home jurisdiction," she said. "For instance, companies often
believe that you need to be physically in Japan to process card
transactions in Japanese Yen. But we work with banks that allow us to
leverage the power of the Internet and connect with these countries
without having to set up a payments infrastructure in that country."
Also of significance to the payments industry is FAC's ability to
service Asian expatriate markets, both for providing merchants with
the ability to process Asian currency credit card transactions for
Europeans (or expatriates from other regions) within Asia, and also
for processing within expatriate Asian communities in the merchant's
own region.
"Many Asian expatriate workers are still being paid in their native
currency, and/or hold debit or credit cards from Asian banks. These
are customers in your own backyard that will benefit from Asian card
processing," said Wilson, citing an example whereby a European
merchant can process in Hong Kong Dollars for Asian consumers based
in Europe.
FAC's international payment processing services also allows for
merchants to take advantage of a range of online risk management
solutions including Verified by Visa and MasterCard SecureCode(TM),
Geolocation services, Card ID Verification, and Address Verification
Services (AVS).
Additional benefits to FAC's merchant solutions include recurring
billing/batch processing and manual transaction entries through
virtual terminals.
FAC can provide international payment solutions and value-added
services to various industries including prepaid phone cards, VOIP
solutions, stored value and pre-paid funding solutions, travel
related services, property management sites, airlines and large
online retail companies.
"We have had an incredible amount of interest in our new solution
since we launched it back in February," said Chris Burns, Senior
Manager, Business Development at FAC. "We have clearly met the needs
of a gap in the market with our streamlined, end-to-end,
multicurrency, credit card payment solutions for Asian currencies and
are pleased with the response."
For direct merchant accounts in Asian currencies together with
multi-currency payer authentication solutions for Verified by VISA
and MasterCard SecureCode(TM), merchants should contact FAC today or
visit the company's website -- www.firstatlanticcommerce.com.
About First Atlantic Commerce
Headquartered in Bermuda, and established in 1998 to create secure
card-based payment solutions for e-businesses, FAC provides powerful
technology designed to work with most merchant platforms, including
Microsoft®, UNIX, and LINUX platforms. FAC's cGate® technology offers
service, flexibility and security to adapt to many business and bank
acquirer requirements. Business solutions such as 3-D Secure(TM)
Payer Authentication, Virtual Corporations and offshore
multi-currency payment solutions are available in various offshore
jurisdictions.
For further information, please contact:
Andrea Wilson
CEO
First Atlantic Commerce
Tel: 001 441 294-4620
E-Mail: awilson@fac.bm
Glyn Hoskins-Turner
Vice President, International Business Development
First Atlantic Commerce
Tel: 001 441 294-4624
E-mail: ghoskinsturner@fac.bm
Media Contact:
Tricia Lines Hill
Vice President, Marketing & Corporate Communications
First Atlantic Commerce
Tel: 011 441 294-4625
E-Mail: tlineshill@fac.bm