iPayDNA and Payment Network AG (sofortüberweisung.de) Establish Business Partnership

Kuala Lumpur, Malaysia, November 01, 2010 --(PR.com)-- Leading payment service provider in Asia Pacific region, iPayDNA International Ltd has formed a strategic business partnership with one of the top online payment networks in Europe, known as sofortüberweisung.de or DIRECTebanking.com, operated by Payment Network AG.

sofortüberweisung.de/DIRECTebanking.com will now be available as payment method for more than 2,000 of iPayDNA's international online merchants. iPayDNA enables a variety of payments through their secured payment page using credit cards, debit cards, online banking and e-wallets.

iPayDNA's online merchants can now enjoy the value added services of having an expanded target market to approximately 80 million online bank account holders in Western Europe, mostly in Germany, Austria, Switzerland, Belgium and the United Kingdom. sofortüberweisung.de is the most successful German direct-ebanking payment method with every third eCommerce merchant offering it.

sofortüberweisung.de has recently surpassed PayPal in its usage frequency by German online shoppers. 51,4% of all German shoppers prefer to pay via sofortüberweisung.de versus 47,5% using PayPal according to a study issued by EuPD Research and Paypal Germany.

Being PCI DSS compliant and serving as IPSP/MSP/ISO of several VISA and MasterCard banks for more than 6 years, iPayDNA strongly believes in the new partnership with Payment Network AG. Harpal Singh, President and COO of iPayDNA states: “This will have a positive impact in improving the online business trading between the Asia Pacific and the European region, thus helping out merchants from Asia Pacific reaching out to the European market and disclosing its potential via this locally preferred payment method.”

With the payment system sofortüberweisung.de/directebanking.com Payment Network AG offers a secure payment service in Germany, Austria, Belgium, Switzerland, Belgium and in the UK, which can be completed without registration, providing of account information or topping up of a credit balance. Within seconds a direct and automated remittance from the buyer's account to the merchant's account is accredited via the bank interface. The company, which was founded in 2005 and is based in Gauting near Munich works together with more than 14,000 web shops and suppliers of E-Commerce software and shop solutions. The security complies with the high standards required by E-Banking.

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