Webdollar Integrated Payment Solution

1
Integrated payment solution for
internet Merchants

Riga December 2001
2
Parties

• VCard Pro http//www.vcardpro.com
• Parex Bank http//www.parex.net
• Netgiro http//www.netgiro.com

3
Objectives

• Improving Merchant Loyalty and Quality of service
• Managing Payments to Merchants
• Minimizing S.W.I.F.T., Electronic Funds Transfers
  and Paper checks
• Eliminating Problems of Merchant Complains when
  using ACH (Automated Clearing House)
• Decreasing Costs and Time of Payments to
  Merchants
• Decreasing Dependence of various Banks (Including
  Merchant Banks)
• Getting new Merchants (Competitive Advantages)

4
Methods and Services

• Issuing Merchant Cards (Cirrus)
• Managing Payments to Merchant Cards (Merchants)

5
Why VCard Pro?

• VCard Pro has developed card acquiring system
  for non-residents
• Added value banking services
• VCard Pro team has long experience of
  international solution marketing

6
Why Parex?

• Leading bank in the Baltics
• Latvia is the perfect jurisdiction for this type
  of services
• 7 years experience with international issuing and
  acquiring of Visa and MasterCard
• Leading edge technical platform
• Parex is able and willing to support long term
  relationship with VCard Pro
• Integration between Parex Bank, Netgiro and VCard
  Pro is completed, tested and operational

7
Why Netgiro?

• Leading international payment solution provider
• Integration between Parex, VCard and Netgiro is
  completed, tested and operational
• Long experience of Visa and MasterCard acquiring
  and reporting
• Active in the development of alternative payment
  methods for internet merchants

8
The Flow
Visa/MC ,E-walletAcquiring
Payments to Merchants
ATM Cash Advance
CUSTOMER(processor)
Cirrus
ATM Cash
Cirrus
Cirrus
Merchant Cards
9
Merchant Card Flow
Card Issuing reporting
Merchant Cardsdistribution
VCard Pro
Merchant(M1)
Cirrus
CUSTOMER(processor)
Parex
Cirrus
Payments
Merchant(M2)
Cirrus
Merchant(Mn)
Payment Management
Netgiro
ATM Cash
10
Customers Advantages

• Tested and ready for delivery now!!!
• Merchant loyalty and satisfaction
• Fast and easy system for payments to merchants
• Low costs
• Decreasing merchant complains
• Competitive advantage
• Easy administration
• General issuer (Parex Bank) support
• Card rules and legal compliance
• Easy to deal, track payment record - one Bank
  involved

11
Card account opening procedures

• The card can be sent to the user instently(cards
  pre-issued and post activated)
• Two documents are needed to activate the card
• Signed and notarized account application
  form/agreement
• Passport or other international ID document copy

12
Merchant Advantages of Card

• No credit history checks
• No minimum deposit or first payment
• No national restriction
• Anonymity
• Easy access to cash (600.000 ATMs)
• Tax planning advantages
• Fast reception of payments

13
Contacts

• Mr. Aldis Zvaigzne (VCard Pro)aldisz_at_vcardpro.com
  
• Mr. Andris Riekstins (Parex Bank)andris.riekstins
  _at_parex.lv
• Mr. Lennart Gillberg (Netgiro)Lennart.Gillberg_at_ne
  tgiro.com

14
THANK YOU!