News from the Wire

Pago eTransaction Services greenlights Maestro International for e-commerce transactions

Thursday, November 01, 2007 — 12:51:37 (EDT)

Cologne, Germany, Oct. 31, 2007 -- Pago eTransaction Services GmbH has given the green light to Maestro International for e-commerce transactions. In Summer 2006 Pago became the first acquirer outside the UK to offer Maestro UK Acceptance. Now, after a successful trial period, Pago has just started the live processing of Maestro International transactions too. Merchants who work with Pago can now offer Maestro, the world's leading debit payment method, to all their customers for their internet transactions too.

"Acceptance of Maestro International strengthens Pago?s position in the international payment market," said Jürgen Herold, Managing Director of Pago eTransaction Services. "The opportunity to offer Maestro Acceptance to all online merchants throughout Europe is crucial in terms of our overall strategy of providing all the important payment methods within European countries."

Maestro cards are to become e-commerce-enabled in several other European countries, in addition to the UK. This is already the case in Austria and Spain, and further countries will follow. In light of SEPA (Single Euro Payments Area), the single international payment processing regime, Maestro may quickly develop into Europe?s most important debit card system.

Currently some 250 million Maestro cards have been issued.

In traditional Card-not-Present businesses, i.e. internet, mail order and telephone based business models, this new development will present online merchants with new customer potential. Maestro Acceptance is also a cost effective alternative for merchants because transaction fees are lower than for credit cards and chargeback risks are also generally lower for debit card transactions.

Maestro is also a modern, forward-looking payment method in terms of security. All merchants who accept Maestro transactions have to participate in MasterCard?s SecureCode program which allows the identity of the cardholder to be determined when the card is used for payment. This ensures more security for both the customer and the merchant.

Growing numbers of consumers are now using Maestro cards for their online shopping. In contrast to the normal Maestro card -- like the EC card used widely in Germany -- the e-commerce-enabled version will have the typical security features now found on credit cards. The cards will be issued with the following features:

• The customer must know his/her Maestro Card number; for example it may be embossed on the card like on credit cards or it may be sent to the customer by their bank. Up until now the number was stored only on the magnetic strip on the card and only the customer?s account number, sort code and internal card number of the issuing bank were visible on some cards, like the German EC cards.

• The customer will receive a Maestro SecureCode from his card issuer. When making an online payment using Maestro SecureCode, the cardholder must authenticate him/herself by giving his card number and his/her personal SecureCode (password).

About Pago eTransaction Services GmbH:

Pago eTransaction Services GmbH (Cologne, Germany) is an international Acquer & Payment Service Provider for e-commerce businesses, shops (point-of-sale) and mail-order businesses. Pago enables its clients to receive payments for their goods and services securely and quickly through electronic channels. Because of the unique integration of card acquiring and payment processing, Pago gives businesses of all sizes access to all internationally and nationally relevant payment methods. The range of payment methods includes Visa, MasterCard, Maestro, American Express, Diners Club and JCB as well as locally used direct debit methods and giropay. In addition to payment processing and risk management services, Pago also offers elaborate and proven business administration services ? such as debtor management and other services, which enable online merchants to control and better secure their payment processing.

Pago was founded in 1999 and is a Deutsche Bank AG and BHS Verwaltungs AG company, offering its services through a global partner network. Clients include merchants from all industry sectors . from retailers to telecommunications to the travel industry - operating in both e-commerce and bricks-and-mortar environments. Pago currently operates over 6,000 active online-shop solutions. Transactions from about 6,500 terminals are processed through the Pago Platform (October 2007).

Further information can be found at www.pago-international.com .

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Source: Company press release.