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State Bank Of Mauritius Enhances Island's E-Commerce Presence With Payment Solution

Amanda Banks, Tax-news.com, London

23 January 2001

Trintech, a major provider of secure electronic payment solutions, has agreed a contract with the State Bank of Mauritius (SBM) to supply the bank with products from its PayWare suite of services.

SBM says Trintech's Payment eAcquirer Technology will become the bank's Internet payment gateway solution provider and the company's PayWare eHost will act as its server-ased merchant payment system.

With a listing on the Mauritius Stock Exchange and a 27 per cent share of the domestic market, SBM is Mauritius' leading commercial bank with 50 branches throughout the Island, mainland Africa and India. The bank says the new agreement with Trintech will promote a global e-presence for the bank and is a major step forward in achieving its aim to establish Mauritius as an international, offshore e-commerce hub.

MKT Reddy, deputy chairman of SBM said: 'We look forward to our partnership with Trintech. Their reputation is excellent and the end-to-end solutions provided by their PayWare products will enhance our eCommerce services. We build our capabilities through alliances, like this one, so that we continue to contribute to making Mauritius a financial cornerstone for developing cross-border business between Africa and Asia.'

Trintech, founded in 1987, offers a product range of software services for credit, debit, commercial and procurement card applications in over 35 countries worldwide. In addition, the company covers the payment requirements of consumers, card issuing banks, merchant acquiring institutions, merchants, eMerchants, telcos, wireless operators, ISPs/CSPs, Portals and large corporations.

John Harte, Trintech's executive vice president of sales and marketing, explained his company's decision to extend its partnership to Mauritus 'Trintech begins the new year by introducing our PayWare products to an entirely new market. Mauritius' location, bilingual culture, stable government and multi-continental reach between Africa and Asia make it a logical choice to continue on our global strategy to become the dominant provider of secure ePayment infrastructure solutions worldwide.'

SBM plans implementation of Trintech's PayWare eAcquirer and eHost in the first quarter of 2001.

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