Travelex Global Business Payments Grows Online Pay 24-7 Solution With NTT Europe

LONDON, November 3, 2011 /PRNewswire/ --

Outsourcing its hosting ensures stability, scalability and financial flexibility for world-renowned international payments specialist

Travelex Global Business Payments, the international payments specialist, has announced a partnership with leading ICT infrastructure provider NTT Europe to deliver increased capacity and control to their online payments solution, Pay 24-7.

Used by leading university and higher education facilities across the UK, North America, Europe and Asia, Pay 24-7 is designed to reduce the cost of administering account fees for institutions by simplifying the reconciliation of money that has been paid or collected across various channels. In turn, this provides a smoother experience for students which minimises user drop-off rates. Pay 24-7 gives students, parents or sponsors complete transparency regarding higher education costs.

By utilising NTT Europe's fully managed hosting platforms in the cloud, Travelex Global Business Payments will be able to rapidly ensure the payment system's optimum performance, and cost-effectively support any growth initiatives in the future. A dual data centre solution managed by NTT Europe ensures the Travelex Global Business Payments Platform will have the resilience to consistently serve their clients. As the service is being delivered over NTT Communications Tier 1 Global IP Network this also ensures minimum latency for an optimum end user experience.

Nick Masterson-Jones, Chief Information Officer of Travelex Global Business Payments, explains "Our Pay 24-7 technology will bring peace of mind to students moving abroad to continue their education; whilst working with strategic partners such as NTT Europe, who have proven global expertise in the financial sector, reassures us that we can look to the future with confidence and have the scalability we need to develop our offering."

NTT Europe's vice president of managed services, Damian Skendrovic, said: "Providing a secure and consistent service to customers is vital for a company handling important financial transactions like Travelex. Our global IT network resources and hosting expertise means that Travelex and its Pay 24-7 users will be getting the stability, security and scalability that they deserve".

About Travelex Global Business Payments

Travelex Global Business Payments is the world's leading specialist provider of international payments to over 35,000 SMEs, larger corporates and distribution partners each year. The business provides international payment services for commercial and personal customers, with products comprising multi-currency spot contracts, forward contracts and options. Travelex Global Business Payments has recently been acquired by Western Union and this transaction is expected to complete by the end of 2011.

The Group operates through its subsidiaries and branches in four regions: the United Kingdom; Europe, Middle East, India and Africa (EMEA); Americas and Asia Pacific.

For more information about Travelex Global Business Payments, please visit the Travelex Group website.

About NTT Europe

NTT Europe is a wholly-owned subsidiary company of NTT Communications which is the global data and IP services arm of the Fortune Global 500 telecom leader, Nippon Telegraph & Telephone Corporation (NTT). NTT Europe is responsible for business in the EMEA market and provides a world-class Tier-1 Internet backbone, secure closed networks, security, system integration, network and application management, managed hosting and global content delivery services with partner companies globally. For additional information, please visit http://www.eu.ntt.com.

About NTT Communications Corporation

NTT Communications provides a broad range of global networks, management solutions and IT services to customers worldwide. The company is renowned for reliable, high-quality security, hosting, voice, data and IP services, as well as expertise in managed networks and leadership in IPv6 transit technology. NTT Communications' extensive infrastructure includes Arcstar™ Global IP-VPN and Global e-VLAN, as well as a Tier-1 IP Backbone reaching more than 150 countries in partnership with major Internet service providers, and secure data centres in Asia, North America and Europe. NTT Communications is the wholly-owned subsidiary of Nippon Telegraph and Telephone Corporation, one of the world's largest telecoms with listings on the Tokyo, London and New York stock exchanges. Please visit http://www.ntt.com.