First Atlantic Commerce Ltd

First Atlantic Commerce Ltd

May 02, 2007 11:34 ET

First Atlantic Commerce Penetrates Asia to Service Its Growing Consumer Card Payments Market

Accept Online Credit Card Payments in Asian Currencies

HAMILTON, BERMUDA--(CCNMatthews - 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™, 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™, 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™ Payer Authentication, Virtual Corporations and offshore multi-currency payment solutions are available in various offshore jurisdictions.

Contact Information

  • Andrea Wilson
    CEO
    First Atlantic Commerce
    Tel: 001 441 294-4620
    E-Mail: awilson@fac.bm
    or
    Glyn Hoskins-Turner
    Vice President, International Business Development
    First Atlantic Commerce
    Tel: 001 441 294-4624
    E-mail: ghoskinsturner@fac.bm
    or
    Media Contact:
    Tricia Lines Hill
    Vice President, Marketing & Corporate Communications
    First Atlantic Commerce
    Tel: 011 441 294-4625
    E-Mail: tlineshill@fac.bm