PAYNOVA EXTENDS PARTNER NETWORK IN EUROPE
Paynova has signed a Letter of Intent with Pago eTransaction Services GmbH, a leading international payment acquiring & processing company for online shopping, to shortly enter into an agreement to adopt each other’s services. Pago is part-owned by Deutsche Bank. Paynova’s network of European partners will gain further technology and competence through this agreement with one of Europe’s strongest online processors. At the same time, Paynova’s market position will be strengthened on the important German online shopping market.
Pago is a rapidly expanding payment processing company that is part-owned by Deutsche Bank, Germany’s largest bank. Since 1999 Pago has become one of the world’s leading providers of e-payment and online fraud services with integrated acquiring for all types of e-commerce. In 2003 its gross transaction volume amounted to over USD 1,4 billion and over 100 million payment transactions will be handled this year alone. Pago is also leading on the market for secure online gaming and gambling transactions. The intension is that Paynova’s electronic wallet will be offered to Pago’s connected online shopping sites as a new payment method.
"The fact that there is increasing acceptance from leading payment companies of Paynova’s wallet solution and European network of partners demonstrates that Paynova’s business concept meets an existing need," says Paynova’s CEO Pelle Hjortblad. "Pago is a large global player that selects its partners and technical solutions carefully".
"This also opens the market for paying out gaming wins trough the parties systems. Pago is probably though their Resellers the biggest Partner for online Casino companies, and there is an obvious need in the global gaming industry for better solutions than the usual paying-out form and cheques" says Paynova CEO Pelle Hjortblad.
"With Paynova and their excellent wallet product we see several new market opportunities opening up for our partners and clients", says Ruediger Trautmann, CEO at Pago. "The intension is that Paynova will be a new payment method complementing and extending the range of our current payment platform. We will be able to address some new segments; e-Shops with smaller transactions like Media and Downloads, payouts of winnings from the gaming/lotto communities and person-to-person transactions stemming from online auctions. Furthermore, with the Paynova wallet we will be able to bring a new consumer group of Nordic users, and all the local Nordic payment methods like Internet banks and Giro payments, to our partners and clients".
The technical evaluation and the initial commercial pilots will now be defined and a commercial agreement will be signed shortly
For further information contact:
Mats Jonnerhag, Information Manager, Paynova AB
Tel: + 46 (0)708 – 754 920, e-mail: firstname.lastname@example.org
Pelle Hjortblad, CEO, Paynova AB
Tel: + 46 (0)70 – 181 01 10, e-mail: email@example.com
Andreas Stefanis, Head of Corporate Communications , Pago eTransaction Services GmbH
Tel: +49 22 132 08 728, e-mail: firstname.lastname@example.org
About Pago eTransaction Services GmbH
Pago eTransaction Services GmbH was founded January 1999 and is one of the leading specialists for e-payment and risk management worldwide.
Pago provides comprehensive services in the field of electronic payment including international acquiring for MasterCard and VISA as well as processing American Express, Diners Club, Switch/Solo and JCB. Pago eTransaction Services GmbH is owned jointly by Deutsche Bank and Beisheim Holding Schweiz AG; it provides professional knowledge and highly effective business solutions for e-payment to companies worldwide focusing on the European market.
Paynova (listed on NGM: PAY) is a Payment Service Provider (PSP) with a complete transaction processor offering several services/forms of access for payments and other transfers via the Internet.
The payment services focusing primarily on the Travel, Media and Retailing sectors include the Paynova Wallet, Large Enterprise Services, Mobile Services, Partner Network Services and Payout Services. Transactions are processed between e-retailers, consumers, banks and other players rapidly, simply, securely and cost-effectively.
Paynova’s transaction processor and payment services are linked, together with traditional banks, card companies and other PSPs, to a comprehensive financial infrastructure with both geographical cover and options for minimising transaction costs.
Paynova’s Partner Network includes well-established Internet banks, card companies (VISA, MasterCard etc.), PSPs and other similar players (GZS/easycash, Paybox, TripleDeal, WM-DATA etc.). Via VISA and MasterCard, Paynova can connect transactions globally with more than 20,000 banks. Paynova’s current market focus is Europe.
Important agreements have been signed with, for example, Ryanair, SJ, Swebus Express and CDWOW.