PayGen, FAC Sign Strategic Alliance

Sept. 20, 2010

PayGen International (PGI) recently announced a strategic alliance with e-commerce payment solutions provider First Atlantic Commerce Ltd. (FAC). Under the terms of the alliance, Seattle-based PGI will begin to offer multi-currency merchant accounts, e-commerce payment processing and PIN-based alternative payment solutions in Europe and the Latin American Caribbean region, in conjunction with FAC. “There is obvious synergy between FAC and PGI with both companies bringing to the table contacts, capabilities and many years of payments industry expertise, that when combined, greatly strengthens and expands our collective value-proposition to the major players in a number of markets,” says FAC’s CEO, Andrea Wilson. “PGI has an impressive reach in the developing world, and FAC is well-respected for its abilities to provision tailored multi-layer solutions to support the most aggressive merchant expansion plans.” The companies said that, because of the agreement, merchants that use the PGI gateway will have certain services, such as the Visa 3-D and Master Card Secure Code functionalities, provided by FAC.