Partnership Agreement

RNS Number : 8523U

Datacash Group PLC

20 May 2008

 

Press Release                                                                                                                                                         20th May 2008

DATACASH PARTNERS WITH PAYPAL TO DELIVER AN INCREASE 
IN SALES FOR MERCHANTS

DataCash, a market leading payment services provider, and PayPal, one of the leading online payments systems, today announced a partnership which means DataCash Merchants can now offer PayPal as an additional payment method to their customers. In making PayPal functionality available to merchants using the DataCash payments solution, it is providing them with the ability to drive incremental sales* and increase online conversions** with PayPal.

DataCash represents over 900 merchants globally, providing them with a single interface to process secure payments on and offline, anywhere in the world. Its portfolio includes merchants from the retail, travel, eCommerce, telecommunications and gaming sectors, working with brands such as the Arcadia Group, Flybe, Boots, Zavvi and Ladbrokes. DataCash also offers a range of value added services, with its risk management solutions allowing merchants in all sectors to process payments reliably, efficiently and with reduced risk of fraud.

PayPal enables any individual or business with an email address to send and receive payments online securely, easily and quickly. In 2007, PayPal processed more than $47 billion in total payment volume, up 33% year on year and the total payment volume for PayPal Merchant Services was $6.1 billion in Q4 2007, up 66% year over year.  PayPal has over 141 million accounts worldwide and supports payments from 190 markets in 17 global currencies.

The partnership means that DataCash clients will be able to offer PayPal's secure Express Checkout payment method to all of their Customers purchasing goods online. The service is quickly and easily integrated and activated to support payments for merchants registered in the United Kingdom, across Europe as well as for non-gaming merchants in the United States.

Andrew Dark, Chief Operating Officer, of DataCash said: "We are delighted to be embarking on a partnership with PayPal. This gives the merchants we work with the opportunity to offer PayPal through their existing relationship with DataCash. In turn this will also enable consolidated reporting and easier implementation for merchants seeking to offer PayPal to their customers. DataCash is a leading international payment and risk services provider, and our continued aim is to be able to provide our customers with the most comprehensive and up to date payment services available to increase their sales opportunity."

DataCash eCommerce Merchant PrezzyBox, who provide their customers with a complete online gift solution, are the first of many to integrate PayPal Express Checkout as a payment option through DataCash.

Zak Edwards, Director at PrezzyBox, comments: "We are extremely pleased to have added PayPal to our payments page through our integration with DataCash. In doing this we are able to offer our Customers more choice when it comes to paying for our products and we now have the option to accept payments from non-cardholding Customers as well as those people who are not confident to share their card details with a third party online, opening up new revenue streams for us. At PrezzyBox the quality of service we offer our Customers is of paramount importance and using DataCash for our payments in partnership with payment options such as PayPal enables us to maintain a secure, efficient and flexible service from start to finish."

Cameron McLean, General Manager Merchant Services at PayPal comments: "We are delighted to have signed this strategic partnership with DataCash - one of the leading market payment service providers. DataCash has a number of well-known merchants in their portfolio and this partnership offers PayPal a great way to reach a significant audience." 

McLean continues, "Enabling consumers to shop without ever having to retype or share their financial information, whether a credit card number or bank account details is becoming increasingly important. PayPal is uniquely placed to meet this growing need, offering consumers a secure way to pay no matter how they choose to fund that transaction (by bank account, debit or credit card), and providing retailers with the opportunity to sell to PayPal buyers from across the globe."

- Ends -

Notes to editors:

* PayPal can increase sales by an average 14% by delivering greater shopping convenience. A 2006 PayPal survey of 200+ US sellers who were already accepting credit cards online, but added PayPal showed that PayPal generated an average incremental sales lift of 14%.

** PayPal Express Checkout has a 72% conversion rate, converting more browsers to buyers. Based on PayPal analysis conducted in Q2 2007 on Top 100 PayPal merchants in UK and US combined (in terms of volume), using the Express Checkout payment mark.

*** According to independent Forrester research, 23% of European online shoppers prefer paying with PayPal.

For further information please contact:

[e-mail]

020 7566 9777

Sophie Lilley / Helen Thomson / Laura Moss / Neil Gregory / Louise Bromley - Lansons Communications

Carly Smith, Marketing and Communications, DataCash Ltd

[e-mail]

0207 421 9283

About DataCash

DataCash Group PLC (AIM: DATA) is the trusted payment processing and fraud screening service provider for over £14.2 Billion of Cardholder Not Present (CNP) and Cardholder Present (CP) payments in 2007. As the partner to many of the UK's leading High Street retailers, e-Commerce businesses and Bookmakers, DataCash enables merchants in all sectors to process payments reliably, securely, efficiently and with reduced risk of fraud, whether they originate in store, on the web, from a call centre or from unattended and mobile devices. DataCash is able to provide Merchants with first-class service reliability at a fraction of the price of an in-house solution,

About DataCash Continued

DataCash allows merchants to set the most appropriate level of service to meet their business needs. 
This ranges from the complete outsource of all back office administration, payments, accounts reconciliation and risk services through to the provision of easy to use, rules based screening that helps to automate rapid and secure payment authorisations and settlement, also supporting AVS/CV2, 3-D Secure (Verified by Visa and MasterCard Secure Code) and in compliance with PCI DSS.

With a global client base and connections to financial networks worldwide, DataCash provides access to the local, preferred payment types territory by territory. Uniquely, DataCash monitor all financial transaction types including cards, debit payments, ACH, wallets and direct bank transfers. Our fraud screening service operates across all of our vertical markets and geographies providing a highly effective block of fraud syndicates migrating activity between sectors. 

For more information, please visit www.datacash.com or email [e-mail] 

About PayPal 

Thousands of merchants accept PayPal today from their websites, including leading e-commerce sites such as Boots, DHL, Harrods, Friends Reunited, New Look and eBay. PayPal also supports payments for Monarch Airways with a payment solution for flight bookings. With PayPal, merchants can sell their goods to the tens of millions of proven online shoppers that prefer PayPal***, often seeing a reduction in shopping cart abandonment therefore increasing sales conversion.

PayPal is a safer, easier way to pay and get paid online. The service allows anyone to pay in any way they prefer, including through credit cards, bank accounts or account balances, without sharing financial information. With more than 141 million accounts in 190 markets and 17 currencies around the world, PayPal enables global ecommerce. PayPal is an eBay company. More information about the company can be found at https://www.paypal.co.uk or https://www.paypal-press.co.uk

 

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