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RealTime IT News

Company Eases Euro Into Worldwide E-Commerce Market

CitX Corp. recently launched a new Internet e-commerce service called IntraEuroX, designed to enable users to automatically triangulate, convert and conduct financial transactions in the form of the Euro and/or other mixed currencies.

To facilitate secure transactions worldwide, the IntraEuroX service will use an enhanced version of CitX's proprietary Secure Electronic Transaction Exchange system (SETX), its Intrapay EDI/XML-enabled EFT/ACH e-commerce processing platform and the Internet.

CitX is initially implementing the IntraEuroX service in two vertical applications. The first application will enable individuals and businesses to use the IntraEuroX service as a multi-currency exchange portal to securely triangulate payment collection and settlement of financial transactions via EFT and Internet-based e-commerce. The second application will enable individual and institutional securities investors and financial intermediaries to triangulate between multiple currencies and settle individual, and/or block trades, securely, throughout the world, via EFT.

The IntraEuroX services are delivered through Intrapay, CitX's Internet-based e-commerce platform that collects and disburses funds using the bank EFT process, facilitated by CitX's sister company, Priority One ECC.

IntraEuroX features an enhanced version of the CitX SETX system that enables secure international transactions across the Internet, while protecting the personal financial information and anonymity of users, the firm said. The requirements for using the new IntraEuroX service are Internet access and a Java-enabled Web Browser.

"We are excited about the relationships we are establishing with businesses and system integrators who desire to integrate the IntraEuroX service into their products and services," said Bernie Roemmele, CEO and founder of CitX.

"We feel that the IntraEuroX service will help our partners create new solution opportunities in international B-to-B transactions and further differentiate their products and services from competitors."

CitX is a privately held high-tech company that primarily develops and markets B-to-B e-commerce solutions, community-centric portals, and network-centric (Web-hosted) software applications. Most of CitX's products and services are provided on a fee-for-use basis.