GlobalCollect merchants accepting Bank Transfer payments from Korea, Japan, and Taiwan are now taking advantage of unique virtual account numbers issued for each order. These virtual account numbers will significantly increase efficiency and secure payment matching, eliminating common payment matching problems caused by using a reference number in these countries.

Amsterdam--- June 5, 2007 --- GlobalCollect, the world’s premier full-service international payment service provider of localized e-payments on a global scale, now provides online merchants with increased efficiency and security when accepting Asian bank transfers through its unique online payment platform WebCollect.

Since up to 46% of South Korean shoppers use bank transfer rather than a credit card to pay for their purchases, bank transfers are an important payment method to offer in Asia. However, accepting bank transfers from countries in this region is difficult and time-consuming and increasingly difficult to match payments based on the typical unique reference number that is generated for each online order’s payment. The significant challenge begins when a shopper may visit his bank to make the bank transfer payment but isn’t allowed to provide the reference number along with his payment. As a result, payments that are made without using the unique reference numbers cannot be automatically matched, making it a time-consuming and difficult manual process to complete the payment process’s full circle to fund remittance.

GlobalCollect’s merchants can now enjoy an even easier and quicker Asian bank transfer process. To guarantee matched payments and decrease the matching timeline, GlobalCollect has implemented a customized solution within its payment portfolio specifically for bank transfers in Korea, Japan, and Taiwan by generating a virtual account number for each order. Each bank transfer’s payment instructions will include a unique generated virtual bank account number. Shoppers will make their bank transfer payment to that virtual account number at their bank and because this account number will be uniquely generated each order, incoming order payments will be matched on it, thus eliminating the need to match on the reference number. Merchants can now accept Asian bank transfers safely, quickly and securely through GlobalCollect’s payment platform WebCollect, the premier payment platform for ecommerce companies who are selling internationally.

Jan Manten, CEO at GlobalCollect said, “By providing this virtual account number solution in some of the key Asian countries that pose bank transfer challenges, our merchants are now seeing significantly increased efficiency with receiving these order payments. Merchants receive their funds faster and have minimized their unmatched payments.”

In addition to bank transfers, GlobalCollect also offers a slew of localized payment methods all over the world including traditional credit cards, national cards, real-time bank transfers, direct debit, prepaid, cash, and eWallets.  For more information, visit the information-packed GlobalCollect website at www.globalcollect.com.

About GlobalCollect
GlobalCollect is the world’s premier Payment Service Provider of local payment solutions for international businesses.  Our expertise in electronic payment methods for Customer Non-Present (CNP) businesses such as internet, mail, telephone order is greatly valued by clients from a wide range of industries such as travel, ticketing, telecommunications, retail, publishing, portals, online games, and digital content.  More than a payment service provider, GlobalCollect is a real partner offering a full service that is uniquely in a class of its own. While most providers are limiting their payment services to a technical link with payment acquirers, GlobalCollect provides a complete service which includes the contractual and technical connections to local payment processors worldwide, bank account network management, matching, reporting and finally the fund remittance. Our clients save precious time and costs and, as a result, are able to focus solely on their core business. Through one single web-enabled technical and administrative interface, our online payment platform offers the largest range of local payment methods and currencies in over 200 countries including all major credit and debit cards, direct debits, bank transfers, real-time bank transfers, e-Wallets, cash at outlets, prepaid methods, checks, and invoices. Find out why GlobalCollect is a worldwide leading payment service provider! GlobalCollect - on the web at www.globalcollect.com

Contact:
Gina M. Jetten / GlobalCollect Marketing Manager
Tel: + 31 (0) 23 567 1562
E-mail: gina.jetten@globalcollect.com

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