First High-Risk Online Biller Becomes Official Payment Institute

First High-Risk Online Biller Becomes Official Payment Institute

AMSTERDAM, July 5, 2011/PRNewswire/ --

    Verotel one of world's oldest Internet Payment Service Providers (IPSP)
is the first high-risk billing service to be awarded a PSD license. This
achievement is a renewed secure standing worldwide for Internet Merchants.
An Internet Payment Service Provider is processing Credit, debit cards and
other payment solutions online for merchants. The PSD license provides
Verotel officially a "payment institute" certificate issued by the Dutch
Central Bank.

    The Verotel customers have the additional protection and confidence of
an official EU license that you won't get with any US-based high-risk
billing services. The Internet Payment Service Provider already boast a
flawless record of never missing a payment. The PSD License offers the
merchants further assurance because they know that the Dutch Central Bank is
monitoring each transaction.

    The international online E-Commerce market is growing each year in
Europe as well as for Domestic countries. The need for a most trusted
billing provider handling the online payments for merchants selling their
products and services online is becoming more crucial. Verotel has predicted
this trend a couple years ago and prepared the organization to become PSD
licensed in February 2011.

    The PSD provides a system of licenses for Internet Payment Service
Providers, lays down information requirements regarding payment services,
and lists rights and obligations of both Payment Service Providers and
users. The aim of this Directive is to ensure the user-friendliness, safety,
and efficiency of payments throughout the European Union / European Economic
Area - in particular credit transfers, direct debit mandates, card payments,
and so-called money transfers. It introduces and harmonizes rules concerning
the providers of payment services.

    Verotel is headquartered in the Netherlands and therefore must comply
with European Union regulations. The EU's recent PSD initiative meant
Verotel and its employees had to undergo a rigorous licensing process. The
Verotel customers have the additional protection and confidence of an
official EU license that you won't get with any US-based high-risk billing
services.

    About Verotel

    Verotel founded in 1998 is one of the world's leading high risk billing
services. The company's state of the art services have been successfully
implemented for over 50,000 websites worldwide, allowing merchants to accept
online payments via credit and debit cards, checks, direct debit or 1-900
billing. Each year Verotel's secure billing platform processes millions of
transactions for world's most accepted credit cards and its excellent
banking relationships assure merchants in over 200 countries always receive
their payments on time.

    Verotel's headquarters in Amsterdam allows the company to service
domestic and European markets, while its expanding international bases
enables multilingual payment platforms and free worldwide sales support.

    Every year thousands of high-risk online billing services choose to
trust Verotel with their money. Verotel has always given its merchants with
confidence and security. The newly-acquired PSD License means there is one
more reason to switch to one of the world's most trusted IPSPs.

Source: Verotel

For more information: Hans Otten, email: hans@verotel.com, phone: +31(0)20-320-88-33