Exclusive interview with PacNet Services, an "expert payment services provider in multiple domestic markets"

PacNet: PacNet Services Ltd is a private company, founded 1994 at our current head office in Vancouver, Canada. We started as a check-processing centre for clients in the direct response industry. Initially we covered 6 markets: Canada, USA, UK, and Australia to begin with and later on France and Germany. Our focus has always been on inbound B2C payments for high volume, low value transactions. In 1996 we added credit cards VISA, MasterCard in cooperation with an international acquiring bank. We also facilitate a global range of local electronic payments including SEPA, EFT in Canada, ACH in US, BACS in UK and many more. In 2000 we opened our first EU office. We wanted to be in the same time zone as our European clients, so we chose Shannon Ireland which met our criteria of being within a EURO country, having an international airport, and a large pool of well educated people who were enthusiastic about meeting our clients’ needs . Currently we have 120 employees in North America and Europe.
 

The Paypers: What is your key message, your value proposition?

PacNet: We are unique in our ability to streamline payments and reporting across multiple markets. While we facilitate many diverse local payments, our platform standardizes the formats and the reporting, so that clients can see at a glance where they stand in each channel and each market. The key concept here is ‘multi’: multi channel payments in multiple markets with multiple payment methods in multi-currency. We feel PacNet is very strong in both domestic and international services, or better: multi-national. There’s no real difference in service offerings per market segment, mainly we process customer-not-present transactions in high volumes. The fact that we do not set minimum volume requirements means that we can give North American companies the agility they need to test the waters in Europe and other established markets using our platforms. Nowadays we experience significantly more companies expanding abroad than say 2 years ago.

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