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11-24-2010 01:28 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: CashRun


GERMANY, NOVEMBER 23, 2010 -- E-commerce merchants using CashPay will have an exciting new payment option made available today. CashRun, a leading provider of turn-key e-commerce solutions, has inked a valuable partnership with Payment Network AG to integrate and resell the popular European payment service sofortü into CashRun's solutions.

This partnership between CashRun and Payment Network AG allows e-commerce merchants around the world to gain access to the unique and extensive banking network under sofortü, which supports direct payments by customers with just their online banking information, without any credit cards required.

The integration of sofortü into CashPay, an industry-leading payment options solution by CashRun, enables e-commerce merchants to bring their products and services to an expanded customer base, achieve faster turnaround time, while retaining original benefits of CashPay.

“We are very glad to start cooperating with CashRun, and to allow their merchants to use sofortü, which is the most frequently used online payment method in Germany, according to EuPD Research." said Christoph Klein, Payment Network AG's CEO. "The appointment of CashRun as an authorized reseller brings synergy and dynamism to both companies and strengthens the solutions offered to customers and merchants around the world."

Merchants will not only benefit from Payment Network AG’s strong position in Germany, but also in Austria, Switzerland, the United Kingdom and Belgium. The provider is poised to expand sofortü's network to the Netherlands and France by 2010, with Italy and Spain coming in 2011.

About Payment Network AG -
sofortü is the leading online payment system in Germany. More than 14,000 merchants already trust this system to secure a fast, easy and safe way of trading. The TÜV-certified system successfully processes more than one million transactions per month (The TÜV is Germany‘s most renowned independent certification agency). Over 30% of German merchants already offer sofortü as a payment method.

About CashRun -
CashRun was established in 2007 with the objective of supporting businesses’ needs for effective and affordable online payment solutions. Since establishment, CashRun has had tremendous success with key industries that are sensitive towards fraud, and continue to be at the forefront for solutions centering around online e-commerce. With strong global presence and partnerships, CashRun supports businesses to develop firmly their core competencies, protect as well as maximize their revenues and growth, and minimize the risks credit card fraud presents to their operations.

Media Contacts:
Ms. Irene Brime

Ms. Lilian Gwendolyn Thau
Payment Network AG

Global Payment Solutions and Fraud Protection for Online merchants.

CashRun Pte Ltd
21 Bukit Batok Crescent
#16-78 WCEGA Tower
658065 Singapore
Tel.: +6565693686

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