Webdollar Integrated Payment Solution

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Integrated payment solution for E-wallet
internet merchants

Riga December 2001
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Parties

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

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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
• Decreasing Dependence of various Banks (Including
  Merchant Banks)
• Getting new customers (Competitive Advantages)

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Methods and Services

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

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Why VCard Pro?

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

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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
• Technical integration between Parex Bank, Netgiro
  and VCard Pro is completed, tested and
  operational

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Why Netgiro?

• Leading international payment solution provider
• Technical integration between Parex, VCard and
  Netgiro is completed, tested and operational
• Active in the development of alternative payment
  methods for internet merchants

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The Flow
E-Wallet Acquiring payments
Payments to Merchants
ATM Cash Advance
CUSTOMER(processor)
Cirrus
ATM Cash
Cirrus
Cirrus
Merchant Cards
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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
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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

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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 application
• Notarised passport copy

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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

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Pricing

• Card set-up fee US 100
• Payment fee US 15

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Contacts

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

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THANK YOU!