E4X and OANDA Offer Risk-Free, Multi-Currency Payment Solution for International e-Commerce
NEW YORK--(BUSNESS WIRE)--March 26, 2001--E4X, Inc., a provider of a risk-free online multi-currency solution that enables merchants to price and sell in local currencies, and OANDA, the Internet's leading provider of currency conversion and localization tools, today announced a strategic partnership to provide a comprehensive, straight-through payment solution for e-commerce Web sites conducting business in international marketplaces.
Compatible with all major e-commerce environments, platforms, gateways and payment systems, the E4X Solution will enable OANDA's e-commerce clients to take their global online payment capabilities to the next level. By integrating the E4X Solution into their online catalogues, merchants will be able to provide final prices of goods and services in local currencies, allowing shoppers to view and purchase items in their domestic currencies. Upon settlement, merchants will receive payments in their operating base currency, based on a guaranteed rate of exchange.
``E4X has designed and developed an immediate and flexible solution that enables online merchants to price and sell in multiple currencies, while eliminating all the currency risks and overhead associated with selling in numerous currencies'' said Yuval Tal, CEO, E4X, Inc. ``Our strategic partnership with OANDA takes online transactions to a higher level and will provide OANDA's clients a greater competitive advantage over other international online businesses.''
``OANDA has been developing leading Internet-based foreign exchange applications for more than five years,'' said Jeffrey Hunter, President of OANDA. ``In response to requests from our clients, OANDA has partnered with E4X to offer a comprehensive payment solution for companies as they expand into international markets. This is a natural addition to the existing line of cutting-edge applications services.''
OANDA is a leading provider of currency conversion and localization tools, decision support applications, database technologies and transaction services. Established in late 1996, OANDA was an early pioneer in the development of currency-related technologies for use in the digital economy. The company's Web site, www.oanda.com, receives over 10 million page views per month and has become the premier online destination for investors, businesses and travelers seeking currency tools, applications, content and community. OANDA has a diverse global client base of over 14,000 that includes such well-known companies as FedEx, United Airlines, American Express, skype, and four out of five of the big auditing firms. The company has also developed a proprietary and fully automated Internet-based trading platform that serves as the basis for its private and white-label FX trading solutions. fxTrade, OANDA's trading endeavor, will offer investors and speculators margin-based FX trading with real-time execution and spreads as low as 2-3 pips, regardless of trade size. For more information, please visit the OANDA.com, The Currency Site.
About E4X, Inc.
E4X enables eBusinesses that are expanding globally, to sell in foreign currencies easily and without currency risks. By employing E4X's cost-effective solution, online businesses display final prices in local currencies while receiving exact payment in their currency of choice. This multi-currency solution is easy to integrate, minimizes costs and hassles and is designed to support local marketing strategies. Compatible with all major payment systems and eCommerce environments, E4X eliminates all foreign currency exchange risks by bringing advanced financial tools to the point of sale. Founded in 1999, E4X is based in New York and is privately held. The company also operates a research and development facility in Tel Aviv, Israel. For further information, visit www.e4x.com.