New Payment Method Helps Online Retailers

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New Payment Method Helps Online Retailers

12 March 2007

Why is this newsworthy? The revolutionary online payment method that is taking NZ by storm is Paymex. Paymex have designed a system which allows online retailers to now accept payment online, instantly and securely and all for free. No monthly charges or transaction charges makes Paymex the most cost-effective payment method available in New Zealand.

Who is behind this? Paymex Ltd, a Tauranga based start-up Company with a passion for keeping Kiwis safe online. Managing director Paul Mason works closely with co-founders Ryan Kilfoil and Kerryn Mason to make this a reality.

What is it all about? Paymex have designed an alternate method of online payment to keep both retailers and consumers safe online. Instead of a retailer having to pay a percentage of each transaction to different third-parties, depending on the payment options, retailers can now offer just one payment method, Paymex, which combines three different online payment methods into one easy to manage and cost-effective solution.

Where is this website? Paymex can be found at http://www.paymex.co.nz. Here, retailers can apply for a business account, find out more information about Paymex and contribute to the forum on online payment and security issues. Paymex customers can also use the secure log-in page to view past transactions, update their account details and withdraw money to any NZ bank account.
When did this happen? Paymex launched their services late last year and have been taking on the likes of PayPal and Paymate ever since, offering Kiwis a 100% New Zealand alternative.

More Information:
“Paymex came about because we wanted to make it easier for online businesses to accept payment online, while providing a secure environment for both retailers and customers to trade in” says MD Paul Mason. “Online fraud and identity theft are big problems that we simply cannot ignore in today’s fast-paced online community”.

Paymex keeps customer’s details safe and secure and eliminates the risk of charge-backs to the retailer through promoting other payment methods such as bill payments.

“Once a customer hits the “Paymex it” button on a retailer’s website, the funds are instantly transferred from their Paymex account to the retailer’s Paymex account, which is confirmed optionally by emails to both parties. This allows the retailer to dispatch the goods right immediately adding value to the customer’s online shoppi΅g experience.

Marketing Manager, Ryan Kilfoil, says that this is only the beginning for Paymex. “Soon you will be able to pay your power, rates and phone bill with Paymex. We are committed to building a trusted brand with only the highest online security standards – protecting Kiwis everywhere. Within the next year we are looking at expanding to overseas markets so watch this space!

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