First High-Risk Online Biller Becomes Official Payment Institute

AMSTERDAM, July 5, 2011 -

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.

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