January 17, 2011, 3:40 PM

WorldNet Payment Gateway Software is Purchased by Veracity Payment Solutions

Irish company announces multi-currency platform al with US payments provider.

WorldNet, the Dublin-based provider of secure online payment services to domestic and international eCommerce and mCommerce clients, today announced the signing of an unconditional license agreement with U.S.A. payments provider Veracity Payment Solutions of Atlanta, Georgia. Under the license agreement WorldNet will provide source code and collaborative development support for customisation of the WorldNet, Online Payment Processing platform for the U.S. market.

WorldNet Chief Executive, Will Byrne commented, “We are delighted to announce our agreement with Veracity Payment Solutions as it represents a very significant milestone in the expansion of our business to new markets and jurisdictions beyond our current European base.”

“Veracity will be able to compete at the highest level of electronic commerce and mobile processing with the addition of our new multicurrency gateway product,” states Joseph Cohane, Chief Executive Officer with Veracity Payment Solutions. “Veracity is the first U.S acquirer to offer this proven gateway solution to merchants in North America. The ability to own our exclusive version of the software supported by the talented professionals of both organizations brings Veracity’s overall offering to an exciting new level,” said Cohane.

 “We are pleased to add WorldNet’s state of the art gateway platform to our ever increasing portfolio of technology solutions,” commented Grant Putre, Chief Information Officer with Veracity Payment Solutions. “This alliance is another important step in our strategy to deliver versatile web-based solutions such as multi-currency processing and dynamic currency conversion to our customers, while providing a rich base of custom solutions that are secure, cost-effective and easy for customers to manage. We look forward to working with the WorldNet team to deliver innovative solutions to our customers,” said Putre.

John Clarke, Head of Product Innovation at WorldNet commented that “the WorldNet solution supports the next generation of online Payment Gateway requirements, which we refer to as Payment Gateway 2.0.  This is a multi channel solution, which addresses both eCommerce and mCommerce requirements in a seamless manner.  Add to this the ability to customise the solution and we dramatically reduce the time for our partners to get to market with a full branded offering.”

The WorldNet payment processing solutions provide acquirers, payment processors, specialist service providers and banks with an immediate opportunity to target their customers and prospects with high quality online and mobile payment products using their own brand, without the need to deploy scarce capital and IT resources in the development of costly payments infrastructure. The unique agreement with Veracity Payment Solutions, means they can tailor the WorldNet payment processing platform to expand and easily implement low-cost solutions for their customers across all business sectors.

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