Client uptake has exceeded our initial expectations due in large part to the fact that many merchants are looking for solutions that enable international marketing, and others are looking for solutions that reduce the expense and effort involved in achieving merchant PCI compliance.
Vancouver, BC, Canada (Vocus) July 21, 2009
PacNet Services, an international payment processing company, notes that uptake of its recently launched MarketDirect secure hosted payment page is strong despite heavy competition and a weak economy.
MarketDirect was developed as an easier way for e-commerce merchants to accept multi-currency credit card payments, which dovetails with a recent upsurge in international marketing initiatives amongst companies in the online retailing space. Since credit card details are collected, authorized and processed over PacNet’s secure payment engine, MarketDirect also has the advantage of making PCI compliance a less onerous task for merchants that would otherwise be accepting credit card details over their own servers.
The basic MarketDirect package includes Visa and MasterCard merchant accounts in up to three currencies, implementation support, a customized payment page that can be integrated with any website or shopping cart solution, unlimited transactions authorized over PacNet’s secure servers, and settlement in any currency the merchant requires. The solution makes it possible to offer local currency payment options to customers in the UK, Australia and South Africa, for example, while receiving settlement in USD.
While PacNet Services provides an extensive range of international payment processing solutions to a variety of sectors, the MarketDirect page was tailored to meet the specific needs of e-commerce. “MarketDirect makes it possible for virtually any merchant to target potential customers in over 30 countries. Offering local currency prices to consumers in target markets increases conversion rates and can also allow for higher margins,” explains Renée Frappier, Director of Marketing for PacNet Services. “Processing credit card transactions in the customer’s home currency rather than in USD also helps to avoid confusion and consumer remorse caused by unexpected currency exchange premiums appearing on the customer’s credit card statement.”
PacNet clients have been using MarketDirect since January, and Frappier considers the launch a success. “Client uptake has exceeded our initial expectations due in large part to the fact that many merchants are looking for solutions that enable international marketing, and others are looking for solutions that reduce the expense and effort involved in achieving merchant PCI compliance.”
Although the current MarketDirect interface has been well received, Frappier predicts that the product will continue to evolve. “We are committed to allowing MarketDirect to develop and grow in response to feedback from our clients. There have already been enhancements to the page including better customization and improved layout. Wherever practical, PacNet is delighted to provide merchants with elements they feel are needed for their international success.”
PacNet Services is a payment processing company that offers a wide range of domestic and international payment solutions. A single account at PacNet gives clients access to Visa and MasterCard merchant accounts as well as the facilities they need to accept direct debit, ACH, personal checks and bank transfers from the US and around the world. PacNet also facilitates outgoing payments by check and eft for refunds, rebates, commissions, dividends and prizes in both major and developing markets around the world.