First Atlantic Commerce Ltd launches cGate® VT WEB -- Internet based Point-Of-Sale payment solutions for the Innovative Caribbean Market

Internet based card payment solutions for the Caribbean market

Offering processing capabilities and security of a physical POS terminal, with the convenience and speed of the Internet, cGate® VT Web and Web Reporter offers Banks and Merchants an 'implement anywhere enhanced, Internet based POS solution.

Hamilton, Bermuda (PRWEB) July 16th, 2003 -- First Atlantic Commerce Ltd (FAC), an established provider of e-commerce and consulting solutions for banks and businesses, today announced the release of cGate® VT WEB, the latest addition to its suite of multi-currency transaction processing payment solutions.

cGate® VT WEB and Web Reporter allows merchants to leverage a point-of-sale processing and reporting solution via the Internet without the need to purchase or lease POS terminal hardware, provision additional phone lines or sift through paper receipts or terminal journals to reconcile settled transactions.

Internet processing not only supports fast, end-to-end transaction speeds, but it also supports always-on" connectivity, which eliminates the time-consuming and repetitive dial-up process that most POS terminals employ," states Andrea Wilson, chief executive of First Atlantic Commerce. cGate® VT WEB Reporter provides merchants and banks with web-based, daily transaction and risk management reports, combining the power of advanced search capabilities with the flexibility of instant access.

Administrative staff and auditors at both the merchant location and the bank will have the ability to review transaction reports any time of the day or night, with the option to review 6 months worth of history," states Wilson.

This immediate access, Internet-based terminal solution is a huge advantage for small hotel and guest properties, Call Centres, time share agents, and car rental merchants, who often accept reservations from multiple sources, including, phone, fax, email, and Internet web sites. Now, a single, multi-currency payment solution is available to securely process these transactions regardless of the reservation source," adds Wilson.

The flexibility of cGate® VT WEB can be an advantage in more rural island, inland or coastal locations where provisioning additional phone lines or telecoms are onerous and costly. Once the merchant account is approved by the bank, access to cGate® VT WEB is immediate -- all the merchant needs is access to the Internet via a PC and a web browser," states Wilson.

cGate® VT WEB can be co-branded by the bank as part of their existing POS solutions, with secure access to the service being made available directly from the banks web site. This offers the bank more control and security over their acquiring programme, in addition to enhancing the banks Internet banking offering," says Wilson.

cGate® VT WEB supports multiple user access and transaction security levels enabling merchants to monitor and control functions for processing, reconciliation and audit. cGate® VT WEB can be integrated with other cGate® payment solutions, creating a merchant e-business solution that fits the needs of the dynamic travel and tourism industry. The solution is also beneficial for Call Centres, offering secure, multiple user access for rapid and simultaneous transaction processing.

Bringing the speed, reliability, affordability and versatility of Internet-based payment solutions to the traditional POS and Call Centre markets is one of the more important business advancements to touch the bankcard industry in the Caribbean this year," adds Wilson.

About First Atlantic Commerce Ltd
Headquartered in Bermuda, and established in 1998 to create secure card based payment solutions for e-businesses, First Atlantic Commerce provides powerful technology designed to work with most merchant platforms, including Microsoft® platforms, UNIX, and LINUX. First Atlantic Commerces cGate® technology offers state-of-the-art service, flexibility and security to adapt to many business and bank acquirer requirements. Business solutions such as multi-currency and regional domestic pricing are available.

For more information visit our web site at www.firstatlanticcommerce.com or contact Melanie Burns, Vice President, Strategic Solutions, (441) 294-4624.

For more information about this release, please contact Andrea Wilson, CEO, First Atlantic Commerce Ltd (441) 294-4620