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.
