First High-Risk Online Biller Becomes Official Payment Institute

AMSTERDAM, July 5, 2011 /PRNewswire/ --

Verotel one of world's oldest Internet Payment Service Providers (IPSP) is the first high-risk billing service to be awarded a PSD license. This achievement is a renewed secure standing worldwide for Internet Merchants.  An Internet Payment Service Provider is processing Credit, debit cards and other payment solutions online for merchants.  The PSD license provides Verotel officially a "payment institute" certificate issued by the Dutch Central Bank.

The Verotel customers have the additional protection and confidence of an official EU license that you won't get with any US-based high-risk billing services. The Internet Payment Service Provider already boast a flawless record of never missing a payment. The PSD License offers the merchants further assurance because they know that the Dutch Central Bank is monitoring each transaction.

The international online E-Commerce market is growing each year in Europe as well as for Domestic countries. The need for a most trusted billing provider handling the online payments for merchants selling their products and services online is becoming more crucial. Verotel has predicted this trend a couple years ago and prepared the organization to become PSD licensed in February 2011.

The PSD provides a system of licenses for Internet Payment Service Providers, lays down information requirements regarding payment services, and lists rights and obligations of both Payment Service Providers and users. The aim of this Directive is to ensure the user-friendliness, safety, and efficiency of payments throughout the European Union / European Economic Area - in particular credit transfers, direct debit mandates, card payments, and so-called money transfers. It introduces and harmonizes rules concerning the providers of payment services.  

Verotel is headquartered in the Netherlands and therefore must comply with European Union regulations. The EU's recent PSD initiative meant Verotel and its employees had to undergo a rigorous licensing process. The Verotel customers have the additional protection and confidence of an official EU license that you won't get with any US-based high-risk billing services.

About Verotel

Verotel founded in 1998 is one of the world's leading high risk billing services. The company's state of the art services have been successfully implemented for over 50,000 websites worldwide, allowing merchants to accept online payments via credit and debit cards, checks, direct debit or 1-900 billing. Each year Verotel's secure billing platform processes millions of transactions for world's most accepted credit cards and its excellent banking relationships assure merchants in over 200 countries always receive their payments on time.

Verotel's headquarters in Amsterdam allows the company to service domestic and European markets, while its expanding international bases enables multilingual payment platforms and free worldwide sales support.

Every year thousands of high-risk online billing services choose to trust Verotel with their money. Verotel has always given its merchants with confidence and security. The newly-acquired PSD License means there is one more reason to switch to one of the world's most trusted IPSPs.

SOURCE Verotel