inatec and EuroDebit Systems GmbH Partner in Germany to Expand DirectDebit Availability; Strategic Alliance Provides inatec Customers With Access To Online Debiting.Business Editors SEATTLE--(BUSINESS WIRE)--July 27, 2000 EuroDebit(R) Systems Inc., an online debit and credit card transaction processor headquartered in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , today announced a teaming agreement between the company's subsidiary, EuroDebit Systems GmbH and inatec of Leipzig. The two German-based Internet payment service See Web payment service. providers will work in partnership to expand the use of EuroDebit's DirectDebit transaction processing system A Transaction Processing System (TPS) is a type of information system. TPSs collect, store, modify, and retrieve the transactions of an organization. A transaction is an event that generates or modifies data that is eventually stored in an information system. throughout Germany. "The primary goal of this partnership is the collective development and improvement of electronic payment systems," said Jens Fischer, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of inatec. "The focus will be direct debiting direct debit Noun an order given to a bank or other financial institution by an account holder to pay an amount of money from the account to a specified person or company at regular intervals direct debit n , which is widely accepted throughout Germany. We will integrate EuroDebit Systems' debiting capabilities into our PowerCash21(TM) platform. Using multiple security features, Web merchants will have the ability to accept and process more online debit payments and minimize the risk of possible failures. EuroDebit will also provide electronic credit card acceptance to PowerCash 21(TM)." "DirectDebit as a payment option enables European customers to safely purchase products and services over the Internet using their checking accounts," said Bernard Schaer, chief executive officer of EuroDebit Systems. "DirectDebit will allow PowerCash e-Merchants to accept direct debit payments, incorporating EuroDebit's multi-layered fraud control systems. By providing this payment gateway inatec is opening up a new market for its Internet merchants worldwide." Through its German subsidiary, EuroDebit became one of the earliest transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. authorities to provide electronic debit-entry payment and clearing services for online German language merchants. About EuroDebit Systems Inc. EuroDebit Systems Inc., headquartered in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. with subsidiary operations in Germany, is an Internet transaction processing authority that handles real-time, online debit processing (no plastic required) for North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. e-commerce operations. EuroDebit(R) offers electronic merchants an easy means for accepting and processing European debit and credit card transactions. Operating throughout Europe under its proprietary "DirectDebit(TM)" program, EuroDebit Systems is currently the only third-party transaction-processing company that offers online checking account debiting, as well as full credit card processing services for the European market. In addition to making DirectDebit payment from European bank accounts, EuroDebit ensures a high level of security on European credit card purchases. Customers receive approval in seconds for debit and credit card transactions. Merchants also are provided real-time statistics 24 hours a day, seven days a week. To find out more about EuroDebit Systems and DirectDebit, visit www.EuroDebit.com or www.eurodebit.de. About inatec inatec has been developing secure and service oriented o·ri·ent n. 1. Orient The countries of Asia, especially of eastern Asia. 2. a. The luster characteristic of a pearl of high quality. b. A pearl having exceptional luster. 3. payment solutions for e-Commerce and m-Commerce since 1998. During conversion of its product solutions inatec lays its focus on successful partnerships with payment providers, shop developers and is at the same time service partner of different banks. inatec converts its customer's individual requirements rapidly and professionally. Latest market trends immediately flow into payment solutions. The Deutsche Bank Deutsche Bank AG (IPA: /'dɔɪ.tʃə/[1]) (ISIN: DE0005140008, NYSE: DB) (English: German Bank , Commerzbank as well as the Stadtsparkasse Koln have already been convinced by the quality and efficiency. To find out more about inatec visit www.inatec.com. |
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