TAMPA BAY, Fla., April 5, 2004 (PRIMEZONE) -- EFT Commerce LLC, a Florida based transaction processor, announced today that it has acquired the exclusive rights to market into the United States, all of EFT Canada Inc.'s Canadian electronic transaction processing solutions.
In keeping with the principal of convenience, timeliness and accuracy, EFT Commerce is proud to present a secure and reliable web-based Canadian electronic transaction processing platform that provides the tools to better serve the electronic transaction needs of owners of small- and medium-sized businesses.
EFT Canada, a leading provider of proprietary electronic transaction processing solutions to financial institutions, businesses, and other merchants, offers a flexible means of processing Canadian recurring electronic transactions through an innovative web-based platform. This robust platform offers an easier, more reliable and cost-efficient alternative to paper-based collections and disbursements that puts clients in control of the entire process.
Ira Rubin, Vice-President of EFT Commerce said, "this agreement is another example of EFT Commerce securing a technology that answers the needs of our customers and the transaction market as a whole". "On average, U.S. companies that accept traditional check payments from their Canadian customers wait two weeks for funds to clear. With this solution, merchants can debit their Canadian customers electronically and have access to funds in as little as 72 hours. This dramatic improvement in cash flow gives EFT Commerce a tremendous competitive advantage in the market place. Moreover, this payment solution has a broad application among many industries concerned about reducing the costs associated with collecting payments."
"We are very excited to be working with EFT Commerce", said Jonathan Pasternak, President of EFT Canada Inc. "Their experience and understanding gives our company access to a broader geographic customer base and allows us to immediately deliver our platform allowing US-based clients to process their Canadian customers' electronic transactions. The combination of e-commerce technologies eliminates the need for small- and medium-sized businesses to maintain expensive hardware, software, and research and development budgets."
About EFT Commerce LLC
EFT Commerce LLC (www.eftcommerce.com) is a US-based provider of payment and digital fulfillment solutions for merchants. EFT Commerce's transaction services allow merchants to accept and manage both credit card and electronic checks in a secure environment.
About EFT Canada, Inc.
EFT Canada, Inc. (www.eftcanada.com), headquartered in Toronto, Ontario, offers a complete solution to the electronic collection and payment processing needs of merchants, banks, credit unions, and other businesses. The Company develops, maintains and delivers innovative electronic transaction processing technologies, such as customized electronic payment and collection processing solutions, by drawing on its operational and applications expertise.