Hamilton, Bermuda, September 14th 2005. First Atlantic Commerce Ltd (FAC), a leading eCommerce payment solutions provider, today introduces an innovative solution that offers companies the ability to apply for merchant accounts in both Europe and the Netherlands Antilles, leveraging a single Dutch corporate structure.
FACâs Kingdom of the Netherlands solution enables merchant acquiring through FACâs partner banks in Europe and/or the Netherlands Antilles or both - creating a dual acquiring presence in the Latin America Caribbean Region (LACR) and the European Union (EU).
"To meet with the Card Associations cross border compliance all merchants are required to establish a corporate presence in the same jurisdiction as their settlement bank," says FAC CEO Andrea Wilson. "Merchants who establish a Dutch Company in the Netherlands Antilles (Curacao, Sint Maarten or Aruba) are then eligible to apply for merchant accounts in both The Netherlands and the Netherlands Antilles leveraging one single Dutch corporate structure," says Mrs Wilson.
"This very practical solution enables merchants to take advantage of the Netherlands Antilles offshore and e-zone tax structures, as well as establishing a solid entry point into the EU for European currency solutions, 3-D Secureâ¢ and channeled marketing," concludes Mrs. Wilson.
FACâs solution provides merchants with the opportunity to offer their customers a number of secure payment choices including US Dollars, Euros, Pounds Sterling, and Swiss Francs with the merchant having the choice of settlement jurisdictions within the LACR and/or Europe.
FACâs Dutch Kingdom banking solution automatically protects eligible merchants with Verified By VISA and MasterCard SecureCodeâ¢ on qualifying VISA and MasterCard transactions. Based on the Card Associationsâ 3-D Secure â¢ technology, cGateÂ®SecureVerify provides merchants with protection from fraudulent transactions, unauthorized payments and chargeback liability shift.
FACâs banking partners in Europe and the Netherlands Antilles offer full Internet banking services enabling merchants to easily and securely manage their accounts.