Munich, 07.06.2010

PAY.ON announces new client in Transact24

PAY.ON AG, a leading provider of payment and risk management technologies and global processor of online payment transactions, will provide its platform to Transact24, an International Payment Service Provider with focus on the Asian market. Transact24 is headquartered in Hong Kong and has offices and/or operating entities in Australia, Singapore, Indonesia, China, Macau, Mauritius, South Africa, the USA and the UK. Transact24 is PCI DSS (Payment Card Industry Data Security Standard) Level 1 compliant and offers a complete set of online payment solutions that can be used instantly to market and sell online products and services to internet customers. With its international presence Transact24 is able to acquire and settle transactions in a number of major currencies. The PAY.ON platform will be used for credit card acquiring with a number of banks connected to the PAY.ON gateway.

Says Philip Meyer, Managing Director of Transact24: “Established in 2006, Transact24 Ltd has processing relationships with several acquiring banks and processing institutions world-wide. Transact24 offers internet merchants payment options such as Visa, MasterCard, JCB, Amex, Diners, Chinese Debit Cards, Ukash, ACH (US Auto Clearing House) transactions and direct EFT. Transact24 recently ventured into the pre-paid card issuing market and is rolling out card programs for customers in South East Asia, South Africa and the Middle East.

Transact24 has been familiar with the PAY.ON services and management for a number of years and values the technical knowledge that PAY.ON provides in the card payment space. We feel that the PAY.ON international footprint is well established and will add value to our corporate vision - to offer multiple Transact24 payment options to merchants world-wide. With PAY.ON we are able to increase our acquiring options with banks. The PAY.ON risk management features suit the Transact24 business model of mediating risk for merchants and acquirers alike. Furthermore, PAY.ON provides a reliable payment platform that complements the Transact24 proprietary connectors to banks.

Also, the use of the new PAY.ON Service Support Center (SCC) features will enable us to improve and extend customer service for merchants. The association with PAY.ON gives us more flexibility in offering international payment options and solutions to our merchants.”

Robert Kuzelj, CEO at PAY.ON comments: “We know that Asia is a fast growing market and are continuously strengthening our position in this exciting and important area. Our technologies are truly global and perfectly suited for the Asian market. We are very happy to have a new client in Transact24, and look forward to supporting them in serving merchants internationally.”