GlobalCollect launches enhanced version of WebCollect

[September 25th 2001]

GlobalCollect has announced the launch of a new version of WebCollect, a payment system that has been facilitating cross-border on-and-offline purchase transactions around the world since 1994. The new upgrade is a scalable, end-to-end and real-time processing system allowing retailers to offer multiple online payment alternatives to their overseas customers.

U.S. companies selling online outside North America face the continual challenge of customers who either do not have a credit card or prefer not to use one for Internet transactions. Research indicates that relying on credit cards to take payments online excludes the majority of European online shoppers and that retailers need to offer multiple payment approaches based on the preferences of each market: In Germany, Europe's biggest market, two thirds of online consumers prefer invoice as payment method, compared to only 14 percent citing credit cards. Across five markets surveyed, virtually one third of consumers put invoices as their preferred payment method.

"WebCollect overcomes barriers to purchase by providing multiple options," said Erik Uljee, vice president of North America for GlobalCollect. "Consumers around the world can now buy products online in the currency and manner they choose. Moreover, we can set up a complete international payment system for retailers within 15 working days. Being able to offer that kind of flexibility is absolutely critical for U.S. online retailers poised to increase their shares of the European and Asian markets."

There are two versions of WebCollect:

• Customer Link: Redirects the buyers to WebCollect for payment processing. The payment pages are customized by GlobalCollect to closely resemble the merchant's site so the buyer's experience is seamless. The company is able to select the payment method, language and currency it wants to offer its customers.

• Merchant Link: Enables the retailer to offer all payment functionality on its Web site. Upon completion of the transaction WebCollect receives the payment information, processes it, and collects the payment on behalf of the retailer.

The payment system can process bank transfers and checks in up to 50 currencies, eliminating the need for a costly international network of local bank accounts. By using its centralized payment infrastructure, which ensures timely settlement and accurate reporting, companies can significantly reduce financial and administrative costs - and focus on their core business.

WebCollect works on any system, interface, and environment. No special software is required and companies can choose their own infrastructure and Web environment, including HTML, XML, ASP, Java, ASCII, PHP, or Perl.

Links
GlobalCollect		http://www.globalcollect.com