Verotel Announces Multi-currency Support

VEROTEL ANNOUNCES MULTI-CURRENCY SUPPORT
MERCHANTS CAN NOW CHARGE IN 10 LOCAL CURRENCIES


AMSTERDAM, THE NETHERLANDS (March 14, 2005)

Verotel today announced support of multi-currency processing, which provides merchants the ability to charge customers in ten (10) local currencies. By allowing charges to be collected in local currencies, Verotel has removed exchange-rate confusion and conversion problems that can limit international sales. Customers generally feel much more comfortable making a purchase in their native currency. It is expected that customer satisfaction as well as transaction volumes for merchants will increase significantly.

The currencies now supported by Verotel's processing platform are: the US Dollar, the Canadian Dollar, the Euro, the British Pound, the Danish Kroner, the Norwegian Kroner, the Swedish Kronor, the Swiss Franc, the Korean Won, and the Chinese Yuanrenminbi. "So far, response has been extremely positive", says Joel Brinker, senior account manager at Verotel. "Customers have been waiting for this implementation to help drive their international online sales." By charging in local currencies, you can adjust your billing and maximize international sales. For example, a US subscription of $19.95 a month may easily sell for Euro 19.95 in France or Germany. For example, for US merchants, that charge in Euros translates to $26.75. To help guide merchants, Verotel publishes The Economist* Big Mac index, which shows comparative prices for the same product (such as a Big Mac, sold by McDonalds**) across different currencies.

Verotel's easy to use online interface allows merchants to quickly configure payment options per currency / area - or select a default currency. Furthermore, the payment page is translated into the customer's local language, making the customer feel even more comfortable with the transaction process.

Based in Amsterdam, The Netherlands, Verotel is a leading Internet payment processor offering a variety of online payment options for small to large Internet merchants at http://www.verotel.com.

Verotel Merchant Services BV - Amsterdam - Netherlands - Email: press@verotel.com

* The Economist is a trademark of The Economist Newspaper Limited
** McDonald's is a trademark of McDonald's Corporation