3V online payment system comes to Benelux region

Source: 3V Transaction Services

3V Transaction Services Ltd, Ireland's leading online payments company has announced it is set to launch its flagship pay-as-you-go Visa voucher product in the Benelux region.

The announcement follows the agreement of Luxembourg Banque Invik, to act as 3V Transaction Services Ltd European banking partner. Banque Invik will work in conjunction with a number of national distribution partners as the 3V product platform is rolled out across European countries.

As part of this announcement, 3V Transaction Services Ltd, an Enterprise Ireland client company, also unveiled that Moreless B.V. is the first of 3V's distribution and marketing partners for Europe. Working in conjunction with Banque Invik, Moreless will be launching an instant access version of 3V's pay-as-you-go VISA voucher product into the Dutch market in early 2010. It is anticipated that the Dutch market will yield spend values of €75 million per annum for 3V.

The 3V Voucher is an easy to use online payment method, which allow customers to shop online using prepaid vouchers that have a disposable 16-digit VISA number, which the customer uses online just like a standard credit card. Customers can buy vouchers from participating retail outlets, in the same way they currently purchase credit for their mobile phones. For European launch the 3V Voucher process has become instant access, with the customer able to purchase and use immediately. This new purchase system is designed to enable people go online and shop instantly without any un-necessary hold ups.

The partnership agreements were signed at an Enterprise Ireland business networking event in Luxemburg to promote Irish-Luxembourg business links which was attended by the President of Ireland Mary McAleese. Speaking at the signing, Kieron Guilfoyle, CEO 3V Transaction Services Ltd said, "These agreements mark a significant milestone in the development of 3V Transaction Services Ltd. Over the last four years we have developed and refined our product suite and have organically grown a customer base that will pass the half a million mark in the coming months."

Guilfoyle continued, "The economic environment over the last eighteen months has placed renewed focus on 3V as a payment method of choice, as consumers are more conscious then ever of spending only what they have and not falling into the credit trap. We will be working with our distribution and marketing partner, Moreless B.V. to promote these key consumers messages as we launch into the Dutch market. Going forward we will be looking to other distribution and marketing partners to come on board as we continue our European rollout."

Concluding, Guilfoyle reflected on the significant role Enterprise Ireland played in supporting 3V Transaction Services Ltd development, "Enterprise Ireland has been a huge supporter of 3V since from the beginning, offering invaluable assistance and financial support. Their proactive international network is well connected and is a resource that all Irish exporting companies should leverage when planning to enter foreign markets."

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