E4X, INC. AND PAYMENTECH PROVIDE A COMPLETE MULTI CURRENCY SOLUTION FOR ONLINE CREDIT CARD PROCESSING
Alliance will include marketing and sales initiatives
New York, NY, and Dallas, TX, May 13, 2002 - E4X, Inc., a provider of a multi-currency solution that enables businesses to sell in their local currencies without currency risks, today announced a long-term strategic relationship with Paymentech, a leading processor and acquirer of electronic payment transactions. The alliance between E4X and Paymentech was formed after a successful trial run with several shared customers including, Art.com, Kagi, Proflowers, Reg.net and setSystems. The agreement between the two companies will include a joint marketing relationship and sales initiatives for E4X’s multi-currency solution and Paymentech’s electronic payment processing services.
Together, E4X and Paymentech offer a complete multi-currency solution that allows merchants to sell online in local currencies and receive payment in U.S. dollars. Paymentech enables merchants that are expanding their market-base internationally to sell online in several currencies and process payments in the shoppers’ local currency. E4X provides a complementary solution that allows merchants to display guaranteed, final prices in local currencies on the online catalog page and enables them to receive exact and expected payment in U. S. dollars-without incurring any foreign exchange risks and costs. E4X sets the exchange rates, maintains the rates online and guarantees the final transaction price to both merchants and customers.
Through several of E4X’s customers that provide a wide array of services for thousands of Web sites, the E4X multi-currency solution is currently available in over 3,000 merchant Web sites both internationally and in the U.S. E4X’s cost-effective solution seamlessly integrates into a merchant’s Web site and is fully compatible with all major eCommerce environments and operating systems.
“This partnership with Paymentech enables E4X to present the simplicity and economics of selling in multiple currencies to merchants with international customers,” said Yuval Tal, CEO of E4X, Inc. “By working with Paymentech, we will be able to directly access large merchants with current international shoppers.”
Paymentech processes MasterCard, Visa, American Express, JCB, Switch and Solo credit card transactions in 14 major global currencies; all currency transactions can be processed through existing processing systems. Merchants that use Paymentech for their multi currency needs can consolidate domestic and international credit card processing onto a single platform. Paymentech also provides a number of services for online vendors, including account and chargeback management and reconciliation and economies of scale pricing.
“The joint initiative between E4X will strengthen Paymentech’s position as the best end-to-end full-scale multi currency solution in the U.S.,” said Chuck Harris, Director of Corporate Alliances. “After an 18-month development and market testing, the combined solution will eliminate the many issues merchants face when selling internationally.”
About Paymentech
Dallas-based Paymentech delivers secure and reliable payment service in merchant acquiring and point-of-sale transaction processing with a wide array of product functionality and support. Paymentech (www.paymentech.com) processed approximately 3.7 billion total transactions and $114 billion in bankcard sales volume in 2001. Founded in 1985, Paymentech is the nation’s premier processor and acquirer of credit card transactions.
About E4X, Inc.
E4X, Inc. enables businesses that are expanding globally to sell in foreign currencies easily and without currency risks. By employing E4X`s cost-effective solution, online businesses can display final prices in local currencies, while receiving exact payment in their currency of choice. This multi-currency solution is easy to integrate, minimizes costs and hassles and is designed to support local marketing strategies. Compatible with all major payment systems and eCommerce environments, E4X eliminates all foreign currency exchange risks by bringing advanced financial tools to the point of sale. Founded in 1999, E4X is based in New York and is privately held. The company has sales offices in New York and Tel-Aviv and operates its research and development facility in Tel Aviv, Israel. For further information, visit www.e4x.com.
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