PAYNOVA SIGNS AGREEMENT WITH ADLIBRIS
Paynova has signed an agreement with Sweden’s leading Internet bookstore AdLibris AB. The agreement also covers the AdLibris associated company eLib AB, which is Scandinavia’s largest company in the field of production and distribution of electronic books (e-books). Paynova’s payment solution will thus be used by market-leading companies for sales in the Internet’s three big e-retail areas: travel, CDs and now books.
AdLibris is the biggest and fastest-growing Internet bookstore in Sweden and the company is estimated to achieve a turnover of approximately MSEK 200 this year (2003: MSEK 128). Its customers are made up of private individuals, companies and public administrations. The average private customer order is around SEK 300 and payment is mostly by invoice or COD, and to a lesser extent by credit card.
"We have assessed various methods that could make the payment process more efficient and give our customers more payment options," says Magnus Dimert, CEO of AdLibris AB. "We went for Paynova’s wallet solution, which has been demanded by customers as a simple yet secure payment solution."
Paynova’s electronic wallet will complement AdLibris’ existing payment methods. The advantages for the consumer are that ordering and payment via the Wallet can be completed in just one step. For AdLibris it will mean an improvement in administrative efficiency as well as cost savings due to a reduction in invoicing and COD management. The agreement also covers the AdLibris associated company eLib AB, owned jointly with publishers Natur och Kultur and Piratförlaget. eLib produces and distributes copy-protected e-books, on commission from Scandinavian publishing companies. These electronic products require an electronic payment solution, as the publishers must be paid when the item is delivered to avoid the risk of non-payment.
"Books, CDs and travel are the things that are most frequently purchased online, both in Sweden and internationally," says Pelle Hjortblad, CEO of Paynova AB. "It’s therefore pleasing that we now have agreements with leading e-retailers in these segments, such as AdLibris for books, CD-WOW for CDs and SJ for travel. These are excellent examples of our strategy of starting out with a market leader, in order to then attract other e-retailers within the same segment."
For further information. please contact:
Mats Jonnerhag, PR and information, Paynova AB
Cell: +46 (0) 708-754 920, Email: email@example.com
Pelle Hjortblad, CEO Paynova AB
Cell: +46 (0)701-810 110 Phone: +46 (0)8-517 100 07,
Magnus Dimert, CEO AdLibris AB
Cell: +46 (0) 73 - 40 88 100
AdLibris AB started in 1997 and is the fastest-growing Internet bookstore in Sweden. The company has always been at the forefront of trends, using WAP services and being the first retailer to sell e-books, for example. AdLibris offers fiction and non-fiction in both Swedish and English at prices 30 to 50 per cent lower than ordinary retail prices.
Paynova (listed on NGM: PAY) offers businesses and consumers secure payment solutions for shopping via the Internet or mobile phone. An electronic wallet (e-account) is opened and topped up simply and easily, and can be used direct for payments over the Internet. Over 100,000 Paynova Wallets have been opened by consumers, who then avoid having to supply their bank or credit card numbers to strangers over the Internet.
Businesses find that managing payments through Paynova results in lower costs for administration and redemption, and that they can receive payments from all over the world. More than 20,000 banks accept the wallet via VISA and MasterCard. Paynova currently has nearly 600 online shops connected. Specially adapted payment solutions are available for: Traditional online shopping (e.g. mail order) including Micropayments (e.g. gaming), Mobile phone payments (e.g. Premium SMS), for special Industry needs (e.g. passenger transport) and Partnership agreements (e.g. transaction management companies).