DGAP-Media: BaFin confirmes: PAY.ON is not a Payment Service Provider

DGAP-Media: PAY.ON AG / Key word(s): Computer/Telecommunication/
BaFin confirmes: PAY.ON is not a Payment Service Provider

08.12.2010 / 16:35

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PAY.ON AG is solely providing processing services to payment and financial
service providers, as confirmed by the Federal Financial Supervisory
Authority (BaFin).

PAY.ON AG, a global processor of online transactions, does not perform as
payment service provider or Payment Institute. This was confirmed
officially by BaFin, the German Financial Authority.

The recently introduced –Directive on Payment Services– (PSD) provides a
system of licenses to PSPs in order to obtain the status of Payment
Institute. These PSD licenses lay down information requirements regarding
payment services as well as listing rights and obligations of both PSPs and
users. PSD provides the legal foundation for the creation of an EU-wide
single market for payments and aims to establish a modern and comprehensive
set of rules applicable to all payment services in the European Union.

As for PAY.ON, the company has always been solely the processing and
consulting partner of PSPs and as such does not act as a Payment Institute.
This unique business focus has now been accredited by BaFin.

Nikolaus von Taysen, COO of PAY.ON, states: –PAY.ON offers processing
systems that are constantly further developed, always state-of-the-art and
able to meet market demands and dynamics in order to provide our clients
and business partners with the best possible solution. We do not serve
merchants. This is our core business philosophy. It serves to avoid
conflicts of interests and allows us to focus on the support of our PSPs.–

About PAY.ON AG:
PAY.ON AG is an internationally leading supplier of global online payment
and risk management technologies, and processor of online payment
transactions. The Company offers the core competencies of global
outsourcing services and routing for monetary transactions, wallet
solutions, risk management and monitoring services, as well as various
technical back-end solutions. The global payment technologies and
transaction processing of PAY.ON enable clients to serve their customers
worldwide by integrating solutions that specifically meet domestic payment
demands. Typical clients of PAY.ON are leading payment service providers
(PSP), payment scheme suppliers, acquirers as well as risk management
providers. The technology and services of PAY.ON are fully integrated into
the clients– corporate design as white label. As a technology provider and
expert, the Company does not serve merchants.
The two core technologies of PAY.ON are PaySourcing(TM)
(www.paysourcing.com), a modular platform for global payment outsourcing,
and PayPipe(TM) (http://www.paypipe.com), an e-gateway for global payment
routing.
The technologies of PAY.ON are fully PCI-certified and occur online
payments by classical as well as alternative payment methods. The system
has connectors at more than 140 third-party systems and supports all major
payment methods and currencies worldwide. New connectors are continuously
integrated into the PAY.ON platform; on average 3-4 connectors every 4-6
weeks.
PAY.ON was established in 2004 by a group of payment experts. The corporate
headquarter is in Munich. The Company has subsidiaries in Salzburg, Hong
Kong and Manila.
www.payon.com

Media Contact PAY.ON AG:
Martina Kink
Tel: +49 (89) 45 230 552
martina.kink@payon.com

End of Media Release

08.12.2010 Dissemination of a Press Release, transmitted by DGAP – a
company of EquityStory AG.
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105897 08.12.2010