First Atlantic Commerce launches 'double Dutch' payment system for e-merchants

FAC's Kingdom of the Netherlands solution enables merchant acquiring through FAC's partner banks in Europe and/or the Netherlands Antilles or both - creating a dual-acquiring presence in the Latin America Caribbean Region (LACR) and the European Union (EU).

"To meet with the Card Associations' cross-border compliance, all merchants are required to establish a corporate presence in the same jurisdiction as their settlement bank," says FAC CEO Andrea Wilson. "Merchants who establish a Dutch company in the Netherlands Antilles (Curacao, St. Maarten or Aruba) are then eligible to apply for merchant accounts in both The Netherlands and the Netherlands Antilles leveraging one single Dutch corporate structure," says Mrs Wilson.

"This very practical solution enables merchants to take advantage of the Netherlands Antilles offshore and e-zone tax structures, as well as establishing a solid entry point into the EU for European currency solutions, 3-D Secure and channeled marketing," concludes Mrs. Wilson.

FAC's solution provides merchants with the opportunity to offer their customers a number of secure payment choices including US Dollars, Euros, Pounds Sterling, and Swiss Francs with the merchant having the choice of settlement jurisdictions within the LACR and/or Europe.

FAC's Dutch Kingdom Solution automatically protects eligible merchants with Verified By VISA and MasterCard SecureCode on qualifying VISA and MasterCard transactions. Based on the Card Associations' 3-D Secure technology, cGate SecureVerify provides merchants with protection from fraudulent transactions, unauthorized payments and chargeback liability shift.

FAC's banking partners in Europe and the Netherlands Antilles offer full Internet banking services enabling merchants to easily and securely manage their accounts.