PAYCOM.NET UTILIZS E4X’S SOLUTION TO ALLOW VENDORS TO SELL IN LOCAL CURRENCIES
CONTACT:
Jody Rochwarger
E4X, Inc.
212-836-4906
jody@e4x.com
Rand Pate
Paycom.net
888-627-3888
rand@paycom.net
International gateway and processor offers local currency functionality to its merchants
New York, NY, and Marina del Ray, CA, July 29, 2002 - Paycom.net a leading Internet Payment Service Provider for secure online credit card and check payments and E4X, Inc., a provider of an online multi currency solution that enables businesses to sell in local currencies without currency risks, today announced their affiliation to provide local currency functionality to Paycom’s clients. Paycom will offer its clients the ability to display final, guaranteed prices in local currencies on their Web sites, while receiving settlements in US dollars.
Websites that use Paycom’s gateway and online processing system will be able to offer their global customers the option to pay for products and subscribe for services in their home currencies. The prices displayed onscreen will be guaranteed to be the final amount charged to customers’ local credit cards, regardless of currency-rate changes. While international cardholders purchase in their currency of choice, Paycom’s clients will continue to operate, receive settlement, and collect the exact expected payment in U.S. Dollars without any exposure to exchange rate fluctuations.
“With such a significant number of cardholders residing outside the US, the ability to offer payment in local currencies is extremely important. However, selling in foreign currencies is a complex and costly endeavor, involving many financial, technical and banking issues,” said Chris Mallick, Chairman and CEO of Paycom.net. “E4X solves many of these issues, allowing us to provide a local shopping experience to international customers while we and our merchants avoid foreign exchange risks, and increase our international business.”
“As one of the largest and most advanced e-commerce companies, Paycom has the technical experience and the right partnerships in place to take advantage of this new capability and cater to their international customers.” said Yuval Tal, CEO of E4X, Inc. “Our guaranteed subscription-based transaction services and our flexible technology interface are the keys to making this service a natural part of Paycom’s offering.
About Paycom.net
Paycom.net is a pioneer in Internet payment processing. The company has grown from 6 employees to over 180, and now processes millions of transactions monthly and is growing. Powered by a strong technical team of Internet experts along with banking and business professionals, Paycom.net is poised to maintain its position as an industry leader in payment processing for many years to come. Paycom.net`s services can be easily implemented with any operating platform, shopping cart, or e-commerce solution. For further information visit www.Paycom.net
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 operates its research and development facility in Tel Aviv, Israel. For further information, visit www.e4x.com .
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