First Ecom.com, Inc., the first company dedicated to providing Internet credit card processing services to non-US merchants, Thursday announced an agreement with Sun Microsystems to help build awareness and usage of FEC’s payment gateway services among Sun’s North Asia customer base.
The move is seen as a significant step forward to bringing true e-commerce capabilities to Asian merchants as it means that they will no longer have to rely on US banks or other American based organizations to facilitate their on-line merchant accounts.
Under the terms of this agreement, Sun’s customers in North Asia will be able to fast track the issuance of Merchant IDs and offer multi-currency solutions, fraud detection technology and a host of other e-commerce functions never before available outside of the US.
“It is very exciting for us to enter the Asian market with such a significant partner as Sun,” said FEC President and Chief Executive Officer, Gregory Pek. “This is a very strong endorsement for our service and goes a long way to paving the way for our future in the region.
“The FEC payment gateway is powered by Sun. To stay on the forefront of technology we feel it is important to have access to the latest JAVA solutions like the JAVA CARD technology. This will ensure that our payment gateway can handle more complex future applications beyond simple credit cards transactions such as debit cards and smart cards,” said Mr Pek.
“Both companies are committed to making e-commerce a reality in Asia. With the First Ecom.com system for on line multi-currency credit card processing and Sun’s commitment to the JAVA and JINI technology, I’m sure that e-commerce in this part of the world can reach US proportions very quickly.”
According to Paul Li, Director of Marketing for Sun Microsystems North Asia, which provides core systems for more than 80 percent of Internet Service Providers in the region, the company is repeatedly asked by its customers to provide an on-line credit card authorization solution. “We feel that the payment gateway provided by First Ecom.com is ideally suited for Asia as it offers the ability to transact in multiple currency and is easy to implement across the region,” said Mr Li.
About First Ecom.com
First Ecom.com, Inc, ( http://www.firstecom.com) is a US company trading on NASD OTC-BB under the symbol FECC. First Ecom.com provides online credit card transaction processing services for merchants outside of North America. Through a series of strategic alliances, First Ecom.com approves merchants and processes transactions in a tax-neutral jurisdiction without the need for using US banking institutions or US-based ISPs. Using First Data Corp.’s processing platform, First Ecom.com offers online credit card processing solutions for merchants in their preferred currency.
About Sun Microsystems
Since its inception in 1982, a singular vision, “The Network Is The Computer(TM),” has propelled Sun Microsystems, Inc. (Nasdaq:SUNW), to its position as a leading provider of high quality hardware, software and services for establishing enterprise-wide intranets and expanding the power of the Internet. With more than US$10 billion in annual revenues, Sun can be found in more than 150 countries and on the World Wide Web at [www.sun.com].