International Acquirer & Payment Service Provider processes about 45 percent more transactions
Cologne, 28 February 2007 - Pago, one of the leading international Acquirers & Payment Service Providers, reported better than average improvements in key figures for the second consecutive year. The number of transactions processed increased a further 45% on last year which had also been extremely successful. At the same time Pago increased its clearing volume by more than 55% - the highest growth rate since 2001.
"We are very proud that we well exceeded our targets for 2006," said Dr. Marcus Weber, Pago’s Managing Director, "as it confirms that the quality offensive we started in 2005 is continuing to bear fruit." Currently Pago provides payment services to some 1,700 contracted merchants throughout Europe (as of 31 December 2006).
The number of active terminals at that date stood at over 6,000.
The impact of the 2005 quality offensive paid off in many areas; for example, the availability of Pago’s systems was, taking scheduled maintenance windows into account, constantly over 99% and even hit the 100% mark for several months. With these availability figures, Pago is well ahead of the industry average. "Working off this very high base, we will continue to improve our operating systems in 2007, both with new technology and process innovation," added Dr. Markus Weber.
The fifth Pago Report was published in May 2006 and is based on real life purchase transactions processed through Pago’s systems. The Pago Report is now well established as one of the most important e-commerce analyses and is often quoted in related industry and financial media.
"With the introduction of Maestro acceptance in the middle of 2006 we laid a further stone in securing further growth this year," said Dr. Markus Weber. "The Maestro Card," added Weber,"is the European E-commerce payment method of the future; not least because this payment method is one of the first which is completely SEPA compliant." Jürgen Herold, Co-Managing Director of Pago since December 2006, added "the proposed Single European Payment Area (SEPA) represents an enormous opportunity for Pago and is not seen as the risk that many of our competitors believe.
One must take into account that, as a credit card acquirer for the European licensing area, we have already gained around six years of valuable experience in cross-border payment and have built up invaluable expertise in this field." Jürgen Herold went on to say, "All in all we expect the favourable business trend in 2006 to continue this year. We will, of course, benefit from the strong e-commerce growth forecast in Europe for 2006. And we have great expectations for the two strongest markets in the EU: Germany and the UK. We are going to increase our efforts in these two markets thereby considerably increasing the number of merchants and the resulting transaction and clearing volumes we process once again."
About Pago eTransaction Services
Pago eTransaction Services GmbH (Cologne, Germany) is an international Acquiring & Payment Service Provider for e-commerce businesses, shops (point-of-sale) and mail-order businesses. Pago enables its clients to receive payments for their goods and services securely and quickly through electronic channels. Because of the worldwide unique integration of credit card acquiring and payment processing, Pago gives businesses of all sizes access to all internationally and nationally relevant payment methods. The range of payment methods includes Visa, MasterCard, Maestro, American Express, Diners Club and JCB as well as locally used direct debit methods and giropay acceptance. In addition to payment processing, Pago also offers elaborate and proven business and risk management services, which enable online merchants to control and secure their payment processing better. Pago was founded in 1999 and is a Deutsche Bank AG and Beisheim Holding Schweiz AG company, offering its services through a global partner network. Clients include merchants from all industry sectors – from retailers to telecommunications to the travel industry – operating in both e-commerce and bricks-and-mortar environments. Pago currently operates over 6,000 active online-shop solutions. Transactions from about 6,500 terminals are processed through the Pago Platform. (as of March 2007) More information available at www.pago-international.com.