Press Releases


Contact:

Mei Li
Senior VP
Corporate Communications
NetSuite Inc.
Phone: 650.627.1063
E-mail: meili@netsuite.com

NETSUITE INTEGRATES WITH WORLDPAY TO PROVIDE MULTI-CURRENCY CREDIT CARD PROCESSING FOR NETSUITE ECOMMERCE CUSTOMERS WORLDWIDE

Perfect Timing for Holiday Season—NetSuite's Newly-Unveiled Feature Helps Ecommerce Customers Boost Holiday Sales Worldwide Accepting 120 Currencies Worldwide

SAN MATEO, CA and LONDON—December 16, 2004—NetSuite, Inc., Silicon Valley's fastest growing software company, today announced the availability of multi-currency credit card processing for NetSuite ecommerce customers worldwide. This new feature was made possible through integration between NetSuite and WorldPay, part of The Royal Bank of Scotland Group, the 5 th largest banking group in the world. As a result, NetSuite ecommerce customers can now accept credit card payments in 120 currencies and receive settlement in any of 14 currencies. Hundreds of companies are exclusively doing business online—whether business-to-business or business-to-consumer—using NetSuite-powered Web stores. The NetSuite-WorldPay launch has been timed perfectly for these customers to boost their sales worldwide during the 2004 holiday season. NetSuite's award-winning products include NetSuite, NetSuite Small Business, NetCRM, NetERP and NetCommerce. For more information about NetSuite ecommerce, please visit www.netsuite.com/netcommerce1 .

NetSuite's ecommerce capability enables companies to easily transact business on the Web while automatically linking into internal customer relationship management, financial and warehouse systems. Turning a static Web site into an e-business destination—where products and prices are dynamically updated; inventory is tracked in real-time; each customer is charged their own price level and displayed their own content; orders are taken on a secure shopping cart with fraud protection; multiple warehouses are instantly notified for fulfillment; and customers can track their orders and support tickets—has to-date been a daunting challenge for even the largest companies. It requires the costly and time-consuming exercise of tying together a Web site with separate on-site systems for inventory, invoicing, shipping, customer service, contact management and document publishing.

NetSuite addresses these issues by providing an easy-to-use, low-cost solution that makes the technical challenges of building an online Web store as easy as point and click. From designing, hosting and managing the Web site; to tracking customers the moment they enter the site; to enabling online transactions whether via credit card or purchase order; to automating back-office inventory processes; to delivering unparalleled online customer service such as 24/7 access to order history, package tracking and multi-level support.

With the new multi-currency credit card processing feature, businesses using NetSuite can host their ecommerce site and display prices in any currency giving shoppers the confidence of knowing exactly how much they will pay. Credit card processing is seamlessly integrated into the Web store checkout sequence and order entry screens of NetSuite with verification to help protect against the potential for fraud. Upon fulfillment, the settlement funds are deposited into the bank account of their choice in their local currency or, in some countries in another currency of choice. Coupled with NetSuite-UPS Online Tools shipping integration, businesses can give themselves a worldwide presence without the expense and complexity of running multiple Web stores and warehousing facilities.

"We've been using WorldPay for several years and were excited to learn that NetSuite was building an integration with them," said Simon Ellson, Managing Director of Miglia Technology Ltd (www.miglia.com) a European manufacturer of video and storage products for PCs and Apple computers, selling them worldwide from its head office in Tring, Hertfordshire (UK). "We have customers buying our products from all over the world, and now by using NetSuite and WorldPay together we are able to present a single, seamless credit card payment process for all customers irrespective of their location."

"We’re extremely pleased to announce our partnership with WorldPay because of the quick entry and cost-effective solutions it offers our customers to engage in secure online trading," said Zach Nelson, CEO of NetSuite. "NetSuite customers wishing to launch a multi-currency payment function can now realize the enormous benefits of secure shopping through NetSuite’s partnership with WorldPay. We believe this is a win-win situation."

Other NetSuite UK customers using WorldPay include JustOffBase (www.justoffbase.co.uk) and Think Again Learning Ltd. (www.thinkagainlearning.com).