Newly founded payment solutions company Catapult Commerce announced today that for its grand opening during the month of August, and for a limited time only, merchants can obtain rates as low as 3.5 per cent on their internet payment processing.

Antigua-based Catapult has designed and developed fraud detection software using the latest available technological advances such as IP address geo-location, issuing bank identification and a host of other checks meant to identify and reduce the risk of fraudulent transactions.

"A high chargeback rate is something that concerns every online merchant, which is one of the issues that drives our business model," said Catapult CEO, Jaime Velez.

"Today, it is no longer enough to secure your systems, fraud detection and prevention are the order of the day. Companies need to take a proactive stance against fraud, customer support departments need the tools to fight fraud, which is what Catapult Commerce is ready to offer."