Paymate Releases Risk-Managed Gateway 

Sydney, Australia: 0700 AEST 18 August 2009;  Woodside CA USA: 1400 Pacific Time 17 August 2009

Paymate (www.paymate.com), an innovative provider of Internet payment services, today announced the launch of a new risk-managed payment gateway service for larger online merchants.  The service was released at the Online Retailer Expo in Sydney, Australia.

Garrett Gafke, Director and CEO of Paymate Global, Inc., stated, “With the explosion in global ecommerce, more businesses are trading across borders and discovering that losses from online fraud can be crippling if not managed diligently. Losses of up to 8% of payments value in risky product categories are not uncommon. Traditional payment gateways and simple tools are inadequate.

”Dilip Rao, Founder and President, added, “Paymate has been at the forefront of online risk management to protect our buyers and sellers via the Paymate Express payment service.  We have achieved a loss rate under 0.1% (10c in every $100) that can benefit all ecommerce merchants.  We are delighted to be able to offer our proven expertise and systems to large merchants in the USA, Australia and New Zealand so they can challenge online fraud confidently with Paymate Sentinel.”

Paymate Sentinel plugs into the merchant’s website to replace a traditional payment gateway.  However, prior to bank authorisation, Paymate conducts an online, real-time risk assessment using a combination of neural technology and a sophisticated rules engine refined since October 2001 to detect potentially fraudulent payments.  A small percentage of risky payments are reviewed manually by Paymate’s expert staff, but most are decisioned by the risk engine.  Approved payments are submitted as usual to the merchant’s bank for authorisation and direct settlement to the merchant’s bank account as normal.  Paymate can also take over the merchant’s back office to deal with chargeback inquiries from the bank.

Paymate is inviting interested merchants and web developers to integrate into Sentinel via an Application Programming Interface (and Software Development Kits for Java and PHP) that can be implemented in just a few days of testing.

Set up fees will be waived for a small number of merchants signing up during the Sydney Online Retailer Expo over 18-19 August 2009.  Transaction fees are tailored for each merchant based on volumes and product categories.

See www.paymate.com/sentinel.

Media Contacts:

USA:
Garrett Gafke, Director & CEO [ This e-mail address is being protected from spambots. You need JavaScript enabled to view it ]
2105 Woodside Road, Woodside CA 94062
Tel: +1 650 529 4715  Fax: +1 650 529 4911

Australia/NZ:
Dilip Rao, Founder & President [ This e-mail address is being protected from spambots. You need JavaScript enabled to view it ]
Email: Suite 2501, 31 Market Street, Sydney NSW 2000
Tel: +612 9283 6977  Fax: +612 9283 6944
www.paymate.com
This e-mail address is being protected from spambots. You need JavaScript enabled to view it

About Paymate

Paymate (www.paymate.com) offers secure, accurate, and reliable Internet payment services to both individuals and businesses. Founded in 2000, Paymate uses unique risk assessment services to deliver safe and simple online payments. Paymate is licenced by the Australian Securities and Investments Commission (ASIC) as an Australian Financial Services Licensee (#290582).  Paymate offers services to buyers in 57 countries and sellers in Australia, New Zealand and the USA.