Microsoft selects GlobalCollect for its payment processing
GlobalCollect, the leading international payment service provider, will enable Microsoft to accept alternative payments and to increase the security of its processing using GlobalCollect’s bank account validation service.
Hoofddorp --- June 18, 2004 --- GlobalCollect today announced the signing of a contract with Microsoft Corp. under which GlobalCollect will provide online non-credit card payment processing services, such as direct debit processing, as well as online bank account validation services for the Microsoft MSN platform.
GlobalCollect is the only payment service provider able to offer an online real time bank account validity check. This check is performed against continuously updated account information databases and is particularly useful for alternative payments to credit cards such as bank transfers and direct debit transactions. GlobalCollect offers bank account validity checks for Germany, the United Kingdom and France to start with. Other countries will be rolled out next year.
Payment alternatives to credit cards are increasingly used by online retailers, especially for the collection of online European payments. According to Forrester Research 36 % of European online shoppers did not own a credit card in 2003, and more than half of European credit card owners did not use it to buy online. GlobalCollect has specialized in alternative payment methods and acknowledges that online retailers offering more than credit card payments increase their response rate of on average 30%.
Security is still a major concern for consumers and online retailers, and the possibilities offered by the online bank account validation give an extra advantage to the already increasingly popular bank transfer or direct debit online payments. Sometimes these payment methods are indeed the only way to reach consumers in countries where credit cards are regarded as highly suspicious way to pay, as in Eastern Europe and Asia for example.
About Microsoft
Founded in 1975, Microsoft (Nasdaq "MSFT") is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.
About GlobalCollect
GlobalCollect provides international payment services for non face-to-face businesses including Internet, mail and telephone order. For more than a decade, Global Collect has successful track record with collection and reconciliation of payments, invoice printing and distribution in over 200 countries. GlobalCollect`s payment solutions and its unique and still growing international banking network enables businesses to accept the widest range of local payment methods in local currencies. Through one single technical and administrative interface, its online payment platform offers a combination of all major credit and debit cards, direct debits, cheques, bank transfers and invoices. The hands-on dedication of its highly experienced professionals who anticipate client`s evolving needs establishes GlobalCollect as the preferred payment service provider. Founded in 1994, GlobalCollect is a fully owned subsidiary of the publicly listed TPG N.V.
More information about GlobalCollect is available at www.globalcollect.com
Contact:
Delphine Bos
Marketing and Communication Manager
GlobalCollect
Tel: + 31 (0) 23 554 86 51
Fax + 31 (0) 23 554 86 66
E-mail: delphine.bos@globalcollect.com
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