ClickandBuy, one of Europe’s leading digital payments platform and E-Payments systems, has received funding from Intel Capital. ClickandBuy has more than seven million users and 7,000 merchants using their system for the sale of goods and services online. In 2007, ClickandBuy plans further expansion in both Asia and Latin America. Details of the deal were not disclosed.
ClickandBuy’s Founder and Chairman of the Board, Norbert Stangl, said: “This investment represents an important milestone for ClickandBuy. We expect that this investment from Intel Capital will strengthen our competitive advantage in E-Payments and confirm our position as the European market segment leader while providing an ideal platform for global expansion.”
Arvind Sodhani, President of Intel Capital commented, “We are witnessing a rapid increase in broadband penetration which is fueling a variety of consumer internet services in addition to growth in downloads of music and videos. Customers and merchants seek a trusted, secure and convenient method to transact on the internet and this is driving ClickandBuy's rapid growth into becoming a leading global payment service provider."
As an ASP, ClickandBuy makes it possible for merchants and linked stores to outsource e-commerce services and complex billing for paid content, services and goods. The system handles billing in various currencies, various VATs, credit card processing, live customer care and fraud detection. ClickandBuy offers an abundance of payment methods, including the 40 most commonly used payment procedures in Europe.
Many well-known providers, such as Apple iTunes, T-Online (powered by ClickandBuy partner Deutsche Telekom AG), Electronic Arts, iVillage, Codemasters, Skype and the leading entertainment portals (dating, music and gaming) use the ClickandBuy payment service throughout Europe and the US. Leading European media companies also bill with ClickandBuy, e.g., The Independent, La Tribune, Gazzetta dello Sport, Telecinco, Financial Times Deutschland and Neue Zürcher Zeitung
One of the key factors for ClickandBuy’s success has been its highly developed fraud prevention system, which protects both the customers and the providers of ClickandBuy against Internet fraud. Many customers and merchants use ClickandBuy for its high security standards and its quick and easy implementation process for the selling of goods online.