Provident Bank & Trust First To Offer International E-Commerce Accounts In Belize

by Amanda Banks, Tax-News.com, London

11 October 2001

The Belize Provident Bank and Trust has joined forces with Bermuda-based e-commerce solutions company, First Atlantic Commerce, to become the first financial institution in Belize to offer international e-commerce accounts. First Atlantic assisted Provident Bank and Trust with the initial development and implementation of its e-commerce offering, which enabled the Bank's internal systems to fully process online transactions.

'Provident Bank and Trust is in an exciting position as the only financial institution in Belize ready and able to provide e-commerce services to Internet businesses,' states Andrea Wilson, CEO of First Atlantic Commerce. 'Now that Provident Bank is e-commerce ready, we can help them expand their client base with the next phase of our services – fraud prevention, risk management and merchant verification services.'

Provident Bank and Trust benefits from Belize's status as a tax-free location for qualified businesses and has a duty free zone attracting international e-business to the area. Ricardo Escalante, Director of Provident Bank and Trust explains: 'We hand-picked First Atlantic Commerce to help us with our e-commerce solution because they have proven expertise and knowledge of banking and acquirer requirements in the Caribbean and Latin America region. In addition, First Atlantic Commerce also has first-class e-payment technologies, making it a one-stop e-commerce provider.'

Based in Bermuda, First Atlantic Commerce specializes in consulting services to acquiring banks for Internet enablement, and secure payment solutions for online merchants. The company also provides universal payment solutions such as multi-currency and multiple jurisdiction settlements to enable merchants to access the global marketplace.

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