Global Primex, a “privacy-first” payments company specializing in secure digital payment solutions for merchants and consumers, announced the launch of its payment platform VLoad in partnership with New York-based Metropolitan Commercial Bank (NYSE: MCB).
VLoad is an online payment method that provides privacy and security to consumers and empowers merchants in the VLoad Merchant Network “with increased revenue resulting from unparalleled fraud prevention, dispute management, and acceptance rates.”
Marek Sala, CEO of Global Primex, stated:
“Global Primex was founded on the premise of creating anti-fraud solutions for online merchants suffering from excessive chargebacks and low acceptance rates, and for providing consumers with a best-in-class private and secure online payment method. With VLoad, merchants are protected under Global Primex’s PCI DSS Level 1 certified payments platform, benefitting from early fraud detection and dispute resolution, while customers’ identities and data are kept private from third parties.”
Sala added:
“VLoad brings tremendous value in industries such as online gaming where we can bring consumers and merchants together in an environment where the risk of fraud on either side of a transaction is significantly diminished.”
While VLoad is tailored to the general ecommerce market in the U.S. and is perfect for a wide range of online merchants, Global Primex is “targeting such industries as regulated online gaming operators, subscription billing services, entertainment, and the travel industry in the U.S. due to its unique expertise in solving payment problems for traditionally high-risk merchants plagued by excessive chargebacks, low acceptance rates, and fraud.”
The VLoad Merchant Network “connects consumers to merchants who have successfully passed Global Primex’s rigorous merchant due diligence process and (i) whose products and services consumers want, but have challenges accessing with traditional payment methods; (ii) who need a little (or a lot of) help managing their fraud and payment dispute risk; and (iii) who want immediate, low-cost access to an ecosystem of hundreds of thousands of consumers whose identities have been verified and whose collective fraud rate is a mere fraction of the market average.”
Nick Rosenberg, Executive Vice President, Head of Global Payments Group at Metropolitan Commercial Bank., said:
“Our partnership with Global Primex is a natural fit given our shared vision around digital transformation of the payments space. We look forward to introducing a product that will provide both sides of a purchase with a strong sense of security through VLoad transactions.”
All businesses participating in the VLoad Merchant Network “have instant access to their customers’ full purchasing power in once place.” VLoad can be “purchased online with debit card, credit card, ACH/open banking and wire.”