| F2b concludes
agreement with MercadoLivre.com/iBazar launching new payment
and shipping solution |
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| F2b, pioneer in the field of electronic
payments in Brazil, has just concluded an agreement with
MercadoLivre.com/iBazar to provide F2b's payment option
and its logistics solution to the customers on the online
auction site which currently has over one million registered
users. |
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| In addition to allowing users to
complete transactions without use of credit cards or bank
accounts, F2b's system provides a new logistics service,
F2bEx, that enables users to arrange for pickup and delivery
of packages throughout Brazil. This service is made available
in cooperation with F2bEx partners that currently include
DHL, Variglog, MSExpress, Mercurio and Expresso Araçatuba. |
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| The system works as follows: At the
time that the parties agree on a transaction the Mercado
Livre/iBazar users are presented with the option to click
on the F2b payment option. The users are then transferred
to the F2b homepage (www.f2b.com.br), and they are asked
to register in order to open virtual accounts. Deposits
into these accounts can be accomplished by physical deposits
of funds via any bank in Brazil or via online banking
transfers. |
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| Users who choose to utilize the F2bEx
logistics options to arrange shipping of the product input
information describing the package such as: weight, dimensions,
number of packages, pickup and delivery addresses, and
time preference for pickup. The F2bEx system will then
provide various alternative logistics solutions with associated
pricing thereby allowing the users to compare various
logistics services offered by the different companies. |
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| Furthermore, the users are offered
an additional tool in the form of the F2bEx Escrow, a
solution that combines payment and delivery in a way that
guarantees that payment will only be made after delivery
of the product to the buyer is confirmed thereby providing
a solution that allows all parties to conclude the transaction
with confidence. |
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| "The auction market moves about
200 thousand transactions per month. We believe that,
with the use of the F2b payment system - which offers
a safe and convenient option - this volume should increase
by approximately 20%. Furthermore, The F2bEx solution
offers auction users a new way to make payments and ship
products totally online in a secure and efficient way.
By the end of 2003 we project to be handling transactions
at a rate of 750,000 per year with an average value of
R$300 each" says Laurymar De Souza, Executive Director
of F2b. |
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| "For MercadoLivre.com, F2b represents
an advance in the way that our site's transactions are
completed by facilitating both the payment and the shipping
of products. In addition, the F2bEx Escrow service is
an essential tool for those users that require an added
level of security to comfortably complete their transactions"
adds Stelleo Tolda, Director-President of MercadoLivre.com
and of iBazar.com.br. |
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| About F2b (www.f2b.com.br) |
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| Launched in December of 2000 and
headquartered in São Paulo, F2b (www.f2b.com.br)
is a Brazilian company that pioneers in the field of online
payments. Using its payment platform, Internet users are
able to create virtual accounts and complete online purchases,
make online transfers using e-mail addresses, and arrange
for logistic and associated payment escrow services. All
this can be accomplished without the use of credit cards
or bank accounts. F2b's proprietary technology was totally
developed in Brazil. |
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| F2b is a company financed by a group
of mainly North American investors including Neptune Capital
Group and F2b's President and Founder, Jacques Blinbaum. |
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| About MercadoLivre/iBazar
(www.mercadolivre.com) |
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| This is the world's largest online
auction site serving the Spanish and Portuguese language
communities. The company currently operates in 10 countries
in America and in Europe, including Argentina, Chile,
Colombia, Mexico, Spain, United States, Uruguay, Venezuela,
Ecuador and Brazil, where its subsidiary started operations
in Sao Paulo in September of 1999. |
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| Customers of the company include
sellers and buyers that regularly buy and sell products
and services in more than 25 categories. MercadoLivre.com
raised more than US$53 million of capital in two rounds
of investments. Its main shareholders include JPM Partners,
Goldman Sachs, GE Capital, Hicks Muse Tate, Furst e CRI,
Santander Central Hispano, and now, eBay. In October of
2001 MercadoLivre.com acquired the Brazilian business
of iBazar (www.ibazar.com.br) as part of an agreement
with the eBay (www.ebay.com) that resulted in establishing
its position as the absolute leader in Brazil and in Latin
America. |
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Information for the press:
Edelman of Brazil
Patrician Costa / Renata Pacini
(11) 3017.5315/3017.5300 - R.236
patricia.costa@edelman.com
renata.pacini@edelman.com |
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