It is anticipated that Edge Tech/DIG will incorporate First Ecom's e-payment processing solution in all IPOS terminals deployed and made available to their existing and future retailing customers. First Ecom's e-payment processing system will be integrated into the IPOS terminals deployed by Edge Tech/DIG as an "out-of-the-box" solution, making First Ecom the "default" e-payment solution.
The proposed agreement will enable retailers to channel and process all card-based transaction data over the Internet using First Ecom's processing solutions, incorporated into Edge Tech/DIG's services. By utilizing First Ecom's solutions, Edge Tech/DIG's retailing customers will be offered the opportunity to enhance their productivity, management, and financial controls through the ability to readily consolidate operational data. In addition, customers will benefit from reduced costs in that there will no longer be a need to employ dedicated leased or fixed lines which are currently required to facilitate traditional card transaction processing. Most importantly, retailing customers will be offered the ability to achieve a convergence of their physical and virtual distribution networks by processing over First Ecom's common processing platform.
IPOS transactions will be considered a traditional point-of-sale operation by card issuing banks, since the consumer is physically present during the purchase. Edge Tech currently has equipment installed at 100 locations and within the next few months has plans to expand its coverage to at least 6,000 IPOS terminals throughout the Asia Pacific region.
"We are targeting to have a final agreement in place within three weeks or so, at which time we will vigorously start the integration with First Ecom's payment solutions so that we can quickly make this service available to our customers," said Adrian Petter, CEO of Edge Tech Limited and Data Intelligence Group Limited. "Through this strategic alliance with First Ecom we will be able to offer our retailing customers and their banks a new and exciting way to process physical and virtual transactions efficiently and more cost-effectively."
"We are enthusiastic about this new relationship with Edge Tech/DIG. Utilizing First Ecom's transactional platform as a means of capturing and processing both traditional point-of-sale as well as e-commerce transactions via the Internet is a tremendous step forward for both consumers and merchants," said Harold Hutton, President and CEO of First Ecom. "Retailers who have embraced the Internet as a new means of achieving enhanced distribution stand to benefit significantly from a standardized processing environment that enables them to globally manage their physical and virtual storefronts in a cost-efficient manner. We are pleased to be forging this alliance with Edge Tech/DIG to enable them to make First Ecom's processing solution a viable and exciting proposition for their retail customers."
About Edge Tech Limited
Edge Tech Limited is Asia's first solution and contents provider of multimedia in-store advertising through integration with retailers' existing point-of-sale systems. All advertisements are multimedia enabled and distributed through the Internet and/or Intranet. Once this distribution network is built, it will also provide the necessary backbone communication platform for Data Intelligence Group's loyalty programmes and First Ecom's payment processing solutions to ride on. The whole concept is branded under the "Vision Channel" logo.
About Data Intelligence Group Limited (DIG)
Data Intelligence Group's primary purpose is to build an integrated technology platform to facilitate the running of various loyalty programs linking a wide variety of retail merchants, initially throughout South East Asia and ultimately globally. Loyalty cardholders will earn points in relation to the amount they spend at participating merchants and be able to redeem their points in a wide variety of ways, including cash. The proposed infrastructure will provide a direct link from the participating merchant's existing point-of-sale equipment to DIG's back office system. The system will record all data pertaining to loyalty cardholders' transactions including a detailed breakdown of items purchased. The system will also provide online access to both participating merchants and cardholders via the Internet for viewing up-to-date statements.
About First Ecom
As a global provider of electronic payment processing, First Ecom provides secure, easy-to-implement and low-cost online payment processing services to banks and their merchants worldwide. Through strategic partnerships with banks, ISPs, e-commerce product suppliers, system integrators and storefront solution providers, First Ecom will process credit card transactions made over the Internet in multiple currencies, either domestically or offshore in a tax-neutral jurisdiction.
For more information, visit www.firstecom.com or contact First Ecom at +(852) 2801-5181 or by e-mail at info@firstecom.com.