3V Transaction Services Ltd has expanded its European market footprint with the announcement of its latest partnership agreement with Spanish transaction company Disashop.
The Irish payments company already provides innovative prepaid debit solutions across the globe with live deployments in Ireland, mainland Europe and North America.
This latest partnership will see an instant access version of 3V's pay-as-you-go VISA voucher product available across 13,000 points in Spain. Raphaels Bank will work in conjunction with the national distribution partner Disashop.
The 3V Voucher which is now available at www.3vdinero.es 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 Disashop retail outlets, in the same way they currently purchase credit for their mobile phones. As the 3V Voucher is instant access, customers are able to purchase and use immediately.
Despite an estimated 63% of Spanish citizens gaining access to the internet, only 17.4% of the adult population in Spain made purchases via the internet in 2010*. According to Kieron Guilfoyle, CEO of 3V Transaction Services Limited this represents a considerable market opportunity, "The low level of e-commerce in comparison with the online access in Spain represents a real market opportunity for 3V. As consumers become more and more focused on controlling their spending allied to the need to seek out the best possible value we believe online spending will increase significantly and that safe, secure products such as 3V Vouchers will become the product of choice in Spain when making online purchases."
Disashop is the biggest Spanish distribution platform of electronic products, with subsidiaries in United States, Romania, Dominican Republic, Peru and Costa Rica. Through its commercial network of more than 16,000 points of sale in these countries, it offers mobile top-ups of the most important national, international and virtual operators, prepaid cards for long distance calls, prepaid vouchers for online shopping, invoice payment and SIM cards. With the launch of 3V, Disashop offers to the Spanish consumers a new means of payment in this market.
The Disashop partnership announcement represents the latest European expansion by 3V Transaction Services as the Company continues to develop its technology platform and market offering. 2011 has been a landmark year for the Irish payments Company following the announcement that it had been selected by O2 Ireland to provide a new prepay money card (O2 Money) which marked the first expansion by O2 Ireland into the financial services market.
Recognising the European potential of such a product development, Kieron Guilfoyle said, "The continued shift towards convergent technologies and in particular the demand within the mobile telecommunications sector has resulted in the Mobile Network Operators becoming a key focus for 3V, designing product delivery with the mobile handset as the primary customer interface. For an Irish company to be selected by O2 is recognition of our abilities in this space and an endorsement we hope will generate future opportunities in mainland Europe."