Moneytech offers new way to pay

Moneytech offers new way to pay

Pay-Gate to allow resellers to use credit cards in a low-cost, secure and unstored manner to pay distributors

IT financer, Moneytech, has launched Pay-Gate – a new payment gateway accessible through the Moneytech Exchange.

Pay-Gate allows resellers to pay any distributor in the IT industry with their Visa or MasterCard (for a 0.95 per cent surcharge) or with their Amex card (where a 2.75 per cent surcharge applies). A reseller needs to sign on to the Moneytech Exchange website, choose the distributor and enter the amount it would like to pay with its credit card.

Details are not stored by Moneytech, and the gateway immediately processes the payment to the distributor. Moneytech CEO, Hugh Evans, said the idea behind the gateway was to allow resellers a secure and efficient way to perform transactions using credit cards.

“We have lots of resellers coming to our site daily, and previously they could make payments through a credit card,” he said. “However, previously they would need to pay Moneytech and then make the payment to the distributor – so we’ve come up with a way to aggregate the process into one transaction.”

Payments can be made to any distributor whether authorised or not, Evans added.

“I don’t know of any distributor in the IT industry that we don’t make payments to,” he said.

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