eCatalystOne AND MOR-DATA ANNOUNCE AND LAUNCH ePAID
Turkish based Mor-Data Offers Prepaid Payment Services in English for In-Country and Cross Border eCommerce
NEWPORT BEACH, Calif., March 10, 2002 -- eCatalystOne, a leading provider of global online payment services, today announced that Mor-Data, an online commerce venue, has launched its ePAID™ service. Through ePAID, Mor-Data's Turkish and U.S.-based customers will be able to create prepaid, stored-value accounts for online shopping both locally and cross border.
Mor-Data will expand into other countries in the area and into Western Europe and incorporate local merchants along the way. The ePAID service was selected to handle the transactions and also to enable shopping into major US merchants. All this can happen and the consumer will not need a credit card. This is good for this part of the world and ideal for cross-border commerce.
"This is just the beginning. The ePAID service and Mor-Data are addressing the pent up demand for online commerce to a customer base that does not have or perhaps chooses not to use credit cards. This affords a payment system that is cash based and more secure for all parties." said Vahit Aykut, CEO of Mor-Data.
Through eCatalystOne's ePaid service, Mor-Data customers now have the ability to open a prepaid account, deposit funds by purchasing MorKart cards that are widely distributed throughout Turkey. Once funds are deposited, eCatalystOne has an established relationship with many of the top U.S. merchants for immediate online shopping services. In addition, Mor-Data-ePAID account holders will be able to easily send funds to friends and family, enabling person-to-person payments. The partnership will soon enable Mor-Data to offer prepaid ecommerce to expatriates in the U.S. and will leverage eCatalystOne's pool of over 40,000 U.S. cash collection sites for prepaid services.
"We see ourselves as the technology provider for Mor-Data. They know their markets and their customers. We will continue to enhance the ePAID system to enable Mor-Data's aggressive expansion plans and will continue to enhance access to merchants and expatriates in the US." stated Dennis Andrews, CEO of eCatalystOne.
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