E4X, Inc. and GlobalCollect COMBINE SERVICES to offer online payment options with no foreign exchange risks or costs
Companies combine services to offer more multi-currency
and online payment options than any other provider
New York, N.Y., September 24, 2001 - E4X, Inc., provider of a risk free online multi-currency solution that enables businesses to sell in local currencies, and GlobalCollect, the worldwide leader in multiple international online payment options, today announced a joint effort that will allow companies to accept all forms of payment and foreign currencies without foreign exchange risks or costs.
“Until now, international companies had no choice but to pay extra fees for converting numerous currencies,” said Erik Uljee, vice president, North America, for GlobalCollect. “By partnering with E4X, we have created a new service that not only eliminates the risks and costs of processing multiple currencies, but also offers GlobalCollect’s online payment options in the currency, language and payment method that customers prefer.”
GlobalCollect’s WebCollect service can accept various forms of on-and-offline payments including, bank transfers, invoices, checks, credit and debit cards. For businesses that wish to sell in numerous currencies, E4X REX, the company’s flagship solution, enables businesses to sell to their customers in local currencies while settling in their operating base currency. The combination of these services makes purchasing goods and services via the Internet easier and risk free for both vendors and consumers.
“The collaboration between E4X and GlobalCollect will provide a total solution for an online storefront, ” said Yuval Tal, CEO of E4X, Inc. “Online shoppers will have the ability to pay for products in their local currency, knowing the exact and final cost of their purchases. Companies benefit by continuing to conduct business in their base currency without having to worry about currency risks and overhead.”
E4X is the only online multi-currency provider that can control the frequency at which prices are updated (daily, weekly, monthly or even up to a year). As part of the strategic partnership with E4X, the two companies will share a customer base and a marketing program as well as up-to-date information on the development of multi-currency and payment solutions.
About GlobalCollect™
GlobalCollect, founded in 1994, is a global provider of online, international payment solutions that enable customers to buy products on the Internet using local payment methods, including bank checks, debits, wire transfer, or credit cards. The company, which can accept payment in 60 countries, has grown 50 percent annually for the past three years. In 2000, GlobalCollect processed seven million transactions, totaling $800 million. GlobalCollect currently serves 1000 companies, including Apple Computer, McGraw-Hill, The Sharper Image, and Dow Jones/The Wall Street Journal. The company is a wholly-owned subsidiary of TNT Post Group (TPG), based in The Netherlands. Web site: .
About E4X, Inc.
E4X, Inc. enables eBusinesses 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 also operates a research and development facility in Tel Aviv, Israel. For further information, visit www.e4x.com
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