First Atlantic Commerce announces new Region for offshore credit card processing

Expansion into Pan Asian Region enables First Atlantic Commerce merchants to settle in additional currencies

Hamilton, Bermuda.  February 27, 2007.  First Atlantic Commerce Ltd (FAC), a leading eCommerce payment solutions provider, today announced the launch of its Pan Asian solution for ecommerce acquiring.

The new credit card payment solution affords FAC merchants extended currency capabilities and a foothold for region-specific expansion through direct merchant accounts in Mauritius.

FAC’s Pan Asian solution offers merchants the ability to transact and settle in multiple currencies including US Dollars, Canadian Dollars, British Pounds, Euros, Hong Kong Dollars, Singapore Dollars, Yen, South African Rand and Australian Dollars.

FAC will provide international merchants with the connectivity and real-time credit card transaction processing, while their partner bank will provide merchants with individual direct merchant accounts for each currency for VISA and MasterCard processing.

The new payment processing service also allows for merchants to take advantage of a range of online fraud management solutions including payer authentication, IP Geolocation, Card ID Verification and Address Verification Services(AVS), which has been further developed into the company’s AV-yeS pre-authentication solution to mitigate US cardholder chargebacks and fraud for global merchants.

Additional benefits to FAC’s merchant solutions include recurring billing/batch processing and manual transaction entries through virtual terminals. 

And FAC can introduce merchants to fiduciaries in Mauritius that can assist with the establishment of the necessary corporate structures required to satisfy VISA and MasterCard regulations that stipulate merchants be incorporated in the jurisdictions in which they settle their funds.

FAC can provide Pan Asian payment solutions to various industries including prepaid phone cards/VOIP solutions, stored value and pre-paid funding solutions, hotel and travel related services such as car rentals, large online retail outfits, airlines and dating sites.

“This solution provides an ideal springboard to merchants wanting to expand in the region. It also offers large established mainstream merchants an alternative solution for splitting volumes through a new acquirer, and in turn, providing additional redundancy to support their online processing needs,” said Glyn Hoskins-Turner, VP of International Business Development at FAC.

For direct merchant accounts in Asian currencies together with multi-currency payer authentication solutions for Verified by VISA and MasterCard SecureCode™, merchants should contact First Atlantic Commerce 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.  

For further information, please contact:

Mrs. Andrea Wilson

CEO

First Atlantic Commerce

Tel: 001 441 294-4620

E-Mail: awilson@fac.bm

Mrs. Glyn Hoskins-Turner

Vice President, International Business Development

First Atlantic Commerce

Tel: 001 441 294 4624

E-mail: ghoskinsturner@fac.bm

Media Contact:

Mrs. Tricia Lines Hill

Vice President, Marketing & Corporate Communications

First Atlantic Commerce

Tel: 011 441 294-4625

E-Mail: tlineshill@fac.bmeshill@fac.bm

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