currency thanks to alliances made by local e-commerce company oeBusiness.

Through an arrangement with Planet Payment announced this week, oeBusiness is now able to offer to its clients, credit card payments in over 140 currencies.

The development means that customers buying goods and services over the Internet will now be able to do so in their own currency.

Colin Wood, CEO of oeBusiness said that, until recently, most Internet business took place mainly in the US. He noted that with the medium now becoming much more international, the necessity arose for a system which allowed customers to pay in their own currency.

The partnership with Planet Payment has already borne fruit for oeBusiness as Canadian gateway company PSiGate have come on board.

PsiGate provide the Internet payment service for many Canadian companies and earlier this year branched out in the US. The merchants they service include IPC computers, Sharpe products and Canoe (a virtual shopping mall) in Canada, and Health Frontier along with a host of smaller companies in the US.

The move by PSiGate enables their customers to also take advantage of oeBusiness.com's suite of e-business services, including hosting, provision of international merchant accounts, website design and development, offshore business management and company formation.

James Mundle, CEO of PSiGate, said that pressure from his customers drove him to form the alliance with oeBusiness.

Introduced through enquiries he made with the Bank of Bermuda, Mr. Mundle explained why PSiGate chose Bermuda and oeBusiness.

"It's because of the stability, because of the infrastructure, the global presence and because of the ability to be able to provide international merchant accounts in multi-currencies,'' he said.

"It's really a unique option that oeBusiness brings to bear that we are able to take out to the marketplace.'' "This joint PSiGate/oeBusiness solution will be of particular interest to merchants who do not have access to payment gateways and or Internet merchant accounts in their own jurisdictions,'' said Mr. Wood of oeBusiness.