Bermuda-based First Atlantic Commerce Ltd. (FAC), which specialises in e-commerce payment solutions, is to expand into Mauritius to offer its clients greater global reach.

The company has announced the launch of its “Pan Asian solution” which FAC says will offer its clients extended currency capabilities and “a foothold for region-specific expansion through direct merchant accounts in Mauritius”.

“This solution provides an ideal springboard to merchants wanting to expand in the region,” said Glyn Hoskins-Turner, vice-president of International Business Development at FAC.

“It also offers large established mainstream merchants an alternative solution for splitting volumes through a new acquirer, and in turn, providing additional redundancy to support their online processing needs.”

The Pan Asian solution allows merchants to transact and settle in many currencies, including US dollars, Canadian dollars, British pounds, euros, Hong Kong dollars, Singapore dollars, yen, South African rand and Australian dollars.

FAC will provide international merchants with the connectivity and real-time credit card transaction processing, while their partner bank will provide merchants with individual direct merchant accounts for each currency for VISA and MasterCard processing. The service also allows for merchants to use a range of online fraud management systems.

Additional benefits to FAC’s merchant solutions include recurring billing/batch processing and manual transaction entries through virtual terminals.

“FAC can introduce merchants to fiduciaries in Mauritius that can assist with the establishment of the necessary corporate structures required to satisfy Visa and MasterCard regulations that stipulate merchants be incorporated in the jurisdictions in which they settle their funds,” a statement from FAC added.