eCatalystOne AND TODITO.COM ANNOUNCE THE LAUNCH OF ePAID
Latin American Portal Offers Prepaid Payment Services for Cross Border eCommerce
NEWPORT BEACH, Calif., February 9, 2002 -- eCatalystOne, a leading provider of global online payment services, today announced that Todito.com, the leading Internet portal and marketplace for the Spanish speaking community in North America, has launched its ePAID™ service. Through ePAID, Todito's Latin American and U.S.-based customers will be able to create prepaid, stored-value accounts for online shopping both locally and cross border.
The requirement for Latin American-based consumers to purchase online continues to rise at a rapid rate and today these individuals are burdened with a lack of a comprehensive payments infrastructure, hindering their ability to shop online not only with U.S. based merchants but also with local in-country merchants. According to a recent report by Boston Communications Group, a leading industry analyst firm, "E-commerce in Latin America is gathering steam, but there are forces working against it, in particular weaknesses in the offerings and in payment systems."
"Our customer base can benefit directly by being able to transact online, to shop, send money, and much more. We want to enable all this both locally and cross border, but have not been able to do so until now." said Adrian Gonzalez, Todito's Chief Operating Officer. "Our vision is to empower Latin American consumers by providing an easy to use solution for prepaid, online commerce. Our partnership with eCatalystOne is allowing us to deliver on the promise of the Internet for our growing user community in both Latin America and the U.S."
Through eCatalystOne's ePaid service, Todito customers now have the ability to open a prepaid account, deposit funds at any local Banco Bital, of which there are over 1,800 branches in Mexico. Once funds are deposited, eCatalystOne has an established relationship with many of the top U.S. merchants for immediate online shopping services. In addition, Todito-ePAID account holders can easily send funds to friends and family, enabling person-to-person payments. The partnership will soon enable Todito to offer prepaid ecommerce to their rapidly growing Hispanic customer base in the U.S. and will leverage eCatalystOne's pool of over 40,000 U.S. cash collection sites for prepaid services.
"As a pioneer in the online payment market space we have focused all our resources and energies on the
international market, we understand the necessity for our services in Latin America," said Dennis Andrews,
eCatalystOne chief executive officer and chairman. "Together with Todito, we share the vision for the future
of ecommerce in Latin America and we're pleased to empower their user community. We look forward to building on
this first step with ever increasing capabilities," added Andrews.
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