Pago eTransaction Services GmbH, Cologne, is now offering more
settlement currencies for Visa and MasterCard credit card transactions.
Up until now Pago customers from the European license area could choose
to be paid in Euros, Pound Sterling, Swiss Franks, South African Rand
and US Dollars. This range has been extended and now includes the
Scandinavian currencies, the Norwegian, Swedish and Danish Crowns, as
well as the Polish Zloty and the Canadian Dollar.
Merchants contracted with Pago, an international Acquirer and Payment
Service Provider, can select their own transaction currencies which
means they can offer their customers payment options in their own local
national currencies. The clearing and settlement with the merchant is,
however, done in one or more of the agreed settlement currencies.
Financial risks resulting form currency exchange rate fluctuations may
arise if the settlement currency is not the same as the merchant?s
national currency or that of the ultimate parent company. This risk, as
well as the time and effort of the conversion, can be avoided if
settlement is transacted in the merchant?s own currency. By extending
the range of settlement currencies, Pago is providing this benefit to
even more merchants.
As a Visa and MasterCard acquirer, Pago covers the European Licensing
Area which includes all the new Member States in the European Union. The
integration of the Polish currency reflects the ever stronger Polish
economy and is a direct response to increased customer demand, as is the
inclusion of the Canadian Dollar. ?Pago is well known for flexibility
and innovative cooperation with customers. And based on E-commerce use
in Scandinavia, the inclusion of the Scandinavian currencies was also
another logical step,? said JÃÂÃÂ¼rgen Herold, Managing Director of Pago
eTransaction Services GmbH. Alongside the UK, the Scandinavian countries
generate the highest per capita turnover in Western Europe thereby
reconfirming their affinity to new technologies which is often
attributed to them.
About Pago eTransaction Services GmbH:
Pago eTransaction Services GmbH (Cologne, Germany) is an international
Acquirer & Payment Service Provider for e-commerce businesses, shops
(point-of-sale) and mail-order businesses. Pago enables its clients to
receive payments for their goods and services securely and quickly
through electronic channels. Because of the unique integration of card
acquiring and payment processing, Pago gives businesses of all sizes
access to all internationally and nationally relevant payment methods
including Visa, MasterCard, Maestro, American Express, Diners Club and
JCB as well as locally used direct debit methods and giropay. In
addition to payment processing and risk management services, Pago also
offers elaborate and proven business administration services – such as
debtor management and other services, which enable online merchants to
control and better secure their payment processing.
Pago was founded in 1999 and is a Deutsche Bank and Beisheim Holding
Schweiz company, offering its services directly and through a global
partner network. Clients include merchants from all industry sectors –
from retailers to telecommunications to the travel industry. Pago
currently operates over 6,000 active online-shop solutions and
transactions from about 6,500 terminals are processed through the Pago
Platform (October 2007).