AlertPay Incorporated Strikes a Deal with a European Bank in Preparation to Dominate the E-Commerce Industry
A young Canadian-based online payment processor takes a giant leap forward. AlertPay Inc. and a European-based bank will work together to thrive in a challenging economic climate.

Montreal, Quebec, April 28, 2009 – Canadian-based online payment processor, AlertPay Inc., and a European bank have agreed to work together to take on the e-commerce industry using each other’s strengths to enhance their scope.

AlertPay has dealt with its share of operational issues and needs the credibility of a dependable bank to compete with the larger industry giants. After months of negotiations mediated by StartaBank.ca, a company that provides consulting for businesses trying to enter and develop in the Canadian financial services industry, AlertPay can now enjoy the benefits of having a major European bank on its side.

Firoz Patel, CEO of AlertPay, is delighted to announce that, “AlertPay is getting ready to dominate the online payment, remittance and money transmission industries. Acquiring a bank is a key step in our evolution and it will streamline our operations. We wanted to strengthen our position with banks for years, but finally concluded that our efficiency would be improved if we acquired our own bank. Many doors are now open to us that were closed before. We spent the last six months trying to come up with the best structure in which to conduct our business, and this is the best option by far.”

Since the company’s inception, AlertPay has had to find ways around bank transfer and credit card outages which may have been connected to a competitor’s attempt to thwart their progress. However, thanks to Mark Sibthorpe, founder of StartaBank and an expert in banking technologies and de novo banks, AlertPay has finally found a reliable and willing banking partner to help them weather the storms of competition.

According to Sibthorpe, “This deal will help AlertPay overcome the operational issues that have plagued them. AlertPay is a fully compliant leading money transmitter, but recently, banks have been deliberately working against these types of businesses for competitive reasons. Now that AlertPay has control over a key European bank, they can gain the credibility they need to take their rightful place on the world’s stage.”
AlertPay’s new banking partner commented that they “could not ask for a better banking partner than AlertPay.” With a bank to bolster its credibility and facilitate the large volume of daily financial transactions it processes, AlertPay will no longer have to worry about going to other banks to process their ACH and credit card transactions – they can do that independently, hence vastly improving the quality of their services their customers depend on.

The bank’s CEO further stated, “For a bank like ours, which has the ability to attract international clients and inexpensive deposits, the current market downturn is going to be a bonanza.” In spite of the gloomy economic climate, both companies look forward to a long, prosperous professional relationship.