Online Payments and Ecommerce Market Guide 2016 PDF

Online Payments and Ecommerce
Market Guide 2016

INSIGHTS INTO GLOBAL ONLINE PAYMENTS AND ECOMMERCE MARKET
The guide provides a clear understanding of the The most valuable source of information and guidance
main trends and expectations in the industry. The MRC for all parties interested in the current state of affairs of the
relies on this resource to build better commerce payments and ecommerce industry
Danielle Nagao | CEO | MRC Paul Alfing | Chairman e-Payments Committee | Ecommerce Europe
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MRC Fraud & Payments Professionals
Online Payments and Ecommerce
Market Guide 2016
INSIGHTS INTO GLOBAL ONLINE PAYMENTS AND ECOMMERCE MARKET
Contact us
Editors
Mirela Amariei
Tiberiu Avram
Daniela Ciobanu
Oana Ifrim
Anda Kania
Emil Juverdeanu
Sebastian Lupu
Mihaela Mihaila
Madalina Mocanu
Andreea Nita
Adriana Screpnic
RELEASE VERSION 1.0

NOVEMBER 2016
COPYRIGHT © THE PAYPERS BV
ALL RIGHTS RESERVED
TEL +31 20 893 4315

FAX +31 20 658 0671
MAIL EDITOR@THEPAYPERS.COM
Editor’s Letter
It is widely recognized that the development of the money And since consumers are always key to business, it is imperative
economy has been essential to the evolution of human history. to track the main distinguishable developments in their behaviour.
With the advent of electronic or digital forms of money replacing Firstly, there is an increased demand for customer-centric service
paper and coin at a rapid pace, the world has witnessed money models: anytime, anywhere, any device. Secondly, a demand for
transformation stages from something we hold in our hands to faster deliveries has arisen. We have elaborated on both in this
abstract units, i.e. numbers/value we move around the internet. year’s edition of our Ecommerce Payment Methods Report.
As The Economist already pointed out in 2007, "cash, after Ease of use and frictionless transactions have always defined
millennia as one of mankind's most versatile and enduring the terms for omnichannel success. Consumers’ expectations
technologies, looks set over the next 15 years or so finally to melt regarding a richer, more personalized and seamless journey will
away into an electronic stream of ones and zeros". Against this also continue to evolve in the future. Industry players who are not
backdrop, it has been only a natural step for digital commerce capable of capturing the fundamental importance of a seamless
to become a growth imperative for small and large businesses experience will struggle to survive.
worldwide, not only to sell to customers, but also to engage
them. At the same time, the payments industry - lying at the heart The future of the payment is not in the payment itself
of digital commerce - has evolved into a complex ecosystem or the payment mechanism, but in what the payment does
comprised of merchants, issuers, acquirers, card schemes, for the customer and the merchant contextually.
payment service providers, processors and technology providers, Brett King | Author | Breaking Banks
all occupying unique positions in the ecosystem.
Regulation, another trending topic, continues to play a vital role
The Context in determining the future evolution of payments. The adoption
The present edition of The Online Payments and Ecommerce of the revised Directive on Payment Services (PSD2) has set the
Market Guide covers the main developments and trends – stage for open banking in Europe. By providing standardised
technological, regulatory and international – that are top of access to customer data and banking infrastructure, PSD2 will
mind for global payment executives, and not only. These topics lower the barriers for entry to third-party providers and financial
prove to be significant success factors in mapping the strategic technology companies (fintechs). In this current edition of our
thinking of merchants, banks, card companies, processors and Guide, we explore the impact of regulation on the payments
technology providers as they determine the best path and the ecosystem, analyzing whether it helps or hinders innovation.
right partners. And, since stories in the media are a constant reminder that in a
world of dynamic technology and evolving consumer behaviour,
In conducting ecommerce operations, cross-border and authentication and security can always be better and more
omnichannel remain essential strategies with significant impact effectively performed, regulations to improve data protection and
on capturing and harnessing the market potential. Cross-border the security of payments will have significant implications on the
ecommerce has been developing at such a rapid pace that it way individuals and companies do business online. ➔
has already become a key generator of future business growth
strategies for all participants in the industry, including payment
gateways or technology providers, merchants, postal and
logistics companies.
The omnichannel experience continues to change the way
businesses sell and, more importantly, it contributes directly to
the diversification of the payments plethora for consumers.
3 ONLINE PAYMENTS AND ECOMMERCE MARKET GUIDE 2016 | EDITOR’S LETTER

➔ The mobile (r)evolution. The mobile commerce ecosystem is This report is greatly enhanced by the contributions of some
at the heart of a revolution that is fundamentally changing how of the most authoritative industry voices (Chris Skinner and
retailers and consumer engage with one another while online, Neira Jones), top industry players, including Visa, PayPal, ACI
in-store and via social media. M-commerce development in the Worldwide, Adyen, Acapture, PayU, as well as relevant strategic
coming years is set to be marked by continuous growth, thus insights from consultancy/ technology or market research
reconfiguring the retail sector and the consumer behaviour: companies (Edgar Dunn, Aite Group, Juniper Research, yStats,
according to a BI Intelligence report, mobile commerce will make Innopay) or expert opinions from key associations/ regulatory
up 45% of total ecommerce by 2020, equaling USD 284 billion bodies or industry forums (Merchant Risk Council, Emerging
in sales. That is more than three times the prediction for 2016. Payments Association, Euro Banking Association).
Banking. Antony Jenkins, the former CEO of Barclays, talks Part 2 presents in-depth company profiles mapping out key
about banks being at an "Uber moment" and argues that pressure players in the global online payments space, including
from new technology-based competitors "will compel banks processors, acquirers and alternative payment methods.
to significantly automate their business". With the increased Furthermore, companies will also be featured in our
ubiquity of the mobile internet, such as increasing fintech comprehensive PSP and Alternative Payment Methods
competition and the wave of new challenger banks, banks database, allowing readers unprecedented access to global
of all shapes and sizes will have to remain focused on giving industry players.
customers the banking services they want and deserve or,
otherwise, risk losing business. We would like to express our appreciation to the Merchant
Risk Council and Ecommerce Europe - our endorsement
Blockchain: the next big thing? Fintech investment in blockchain partners who have supported us year after year – and also to
technology could be revolutionary as it replaces the core financial our thought leaders, participating organisations and top industry
infrastructure and allows banks to rethink legacy systems that players that contributed to this edition, enriching it with valuable
could work more efficiently. Whether blockchain will eventually insights and, thus, joining us in our constant endeavour to
end up replacing the current financial infrastructure nexus -or not depict an insightful picture of the industry. Enjoy your reading!
– it remains to be seen.
Adriana Screpnic
Guide Structure Editor-in-Chief, The Paypers
In order to grasp the complexities of the changing business

landscape, this year`s edition features a 2-part structure. Part 1
is dedicated to thought leadership contributions and initiatives in
the field of online financial services, featuring various contextual
approaches for online transactions at a global or regional level, as
presented by key industry players, either in the form of an exclusive
interview or an elaborate article. Such contributions serve as best
practices, food for thought and inspiration for evolution within the
ever-changing digital commerce and payments space.
4 ONLINE PAYMENTS AND ECOMMERCE MARKET GUIDE 2016 | EDITOR’S LETTER

Table of contents
3 Editor’s Letter
7 Thought Leadership
8 Omnichannel and Big Data

9 Data Is Money: Why Data Science Is the Future of the Payments Industry | Nathan Trousdell,
Director of Strategy & Corporate Development, Acapture
11 POS Terminals Within the Omnichannel Environment | Ralf Gladis, Founder & CEO, Computop
13 Payment Data: Valuable Insights to Drive Profitability on Merchant Sites | Gabriel de Montessus, CEO, HiPay
15 Omnichannel Commerce and Big Data | Jörn Leogrande, Executive Vice President of Mobile Services, Wirecard AG
17 Is a Data Protection Officer Mandatory for Your Company? | Edwin Jacobs, FinTech lawyer, time.lex
20 Mobile (R)Evolution
21 What Does the Rise of Mobile Really Mean for Global Retailers | Roelant Prins, CCO, Adyen
23 Smartphone Adoption Is Transforming the US Consumers Payment Preferences | Tim Spenny,
Card and Payments expert, GfK
25 How Your Smartphone Will Replace your Wallet and Why that’s a Good Thing | Markus Bergthaler,
Director of Programs, MRC
28 Expanding Ecommerce across Borders

29 How to Adapt Your Strategy to Consumer Behaviours in Emerging Markets | Matthias Setzer,
Chief Commercial Officer, PayU
31 International B2B Payments Crossing Borders without Delays and High Fees | Anders la Cour,
Co-founder and Chief Executive Officer, Saxo Payments
33 European Markets Reflect Diversity in Payment Methods for Online Purchases | Tatiana Teplova,
Head of the Research Department, yStats.com
35 Driving Ecommerce Growth

36 The Role of Payment Acceptance in Driving Ecommerce Growth Strategies | Markus Rinderer,
Senior Vice President, ACI Worldwide
38 IoT and the Connected Consumer | Steffen Sorrell, Senior Analyst, Juniper Research
40 Can You Digitalise a Pizza? Food Delivery Services Are Going Through an Extraordinary Change | Mark Beresford,
Director, Edgar, Dunn & Company
42 Exclusive interview with Charles Brewer | Chief Executive Officer, DHL eCommerce
5 ONLINE PAYMENTS AND ECOMMERCE MARKET GUIDE 2016 | TABLE OF CONTENTS

Table of contents
45 PSD2 and Impact on Payments Ecosystem
46 PSD2 – A Call to Innovate | Peter O'Halloran, Vice President & General Manager, eCommerce, EMEA, First Data
48 What the PSD2 (Payment Services Directive 2) Is Changing for Merchants and Their Customers | Pascal Durdu,
Head of Business Strategy & Product Management for Merchant Services, Worldline
50 Pushing PSD2 Push Payments | Tim Richards, Principal Consultant, Consult Hyperion
52 PSD2: Opportunities and Challenges for Payment Stakeholders | Vincent Jansen, Principal and Mounaim Cortet,
Manager Strategy, Innopay
54 Payment Services Directive 2: Goodbye to Home Country Shopping? | Nadja van der Veer, Co-Founder, PaymentCounsel
57 Optimising Payments
58 Simplify Your Payments with a Tailor-Made Strategy | Thibaut Faurès Fustel de Coulanges, CEO, Be2bill
60 Nine Ways to Optimise Your Payment Pages and Boost Conversion | Elie Casamitjana, Global Lead,
Offering & Go-To Markets, Ingenico ePayments
62 Cutting-Edge Technology Helps PSPs Optimize Processes and Portfolio | Thomas Pietsch, Business Operations,
Project Management and Compliance specialist, ONPEX
65 Payment Innovation
66 The Future of e-Money | Jens Bader, Chief Commercial Officer, Secure Trading
68 Exclusive interview with Neira Jones | Advisory Board Member & Ambassador, Emerging Payments Association
70 A Cashless Future Is Around the Corner | Luca Cassina, General Manager, PayPal
72 The Challenge of Customer Due Diligence in Online Era: Changing the Mindset | Victor Dostov,
President and Pavel Shoust, Executive director, Russian Electronic Money Association
75 Bank (R)Evolution
76 Long Live the Bank Account: Why the Bank Account Is Becoming Increasingly Relevant | Stefan Backlund,
Head of Marketing and Communication, Trustly
78 Exclusive interview with Chris Skinner | Chairman of the Financial Services Club
80 Exclusive interview with Thomas Egner | Secretary General, The Euro Banking Association
82 The Programmable Bank | Ron van Wezel, Senior Analyst Retail Banking & Payments Practice, Aite Group
85 Fintech Developments
86 Exclusive interview with Todd Latham | CMO & Head of Product, Currencycloud
88 Payment Services Future Is Fintech | Christophe Bourbier, Chairman CEO, Limonetik
90 Spotlight on Card Schemes

91 How Visa Drives Payments Innovation | Daniel van Delft, Country Manager for The Netherlands, Visa
93 Exclusive interview with Diane Offereins | Executive Vice President, President – Payment Services, Discover
95 Part 2 – Company profiles
172 Glossary
6 ONLINE PAYMENTS AND ECOMMERCE MARKET GUIDE 2016 | TABLE OF CONTENTS

Thought Leadership
Omnichannel and Big Data
Acapture
Data Is Money: Why Data Science Is the Future of the Payments Industry
Back in 2013, IBM told the world that 90% of its data had been From a security point of view, data science is equally valuable. By
created during the previous two year period. Three years later, tracking and studying the patterns and activities that surround
it is clear that the era of Big Data is here to stay. What is less past fraudulent transactions, we can optimise the processes we
certain, however, is what the average business should be doing use to prevent future fraud with a revolutionary level of efficiency
to take advantage of the situation. and accuracy.
For those of us in the omnichannel payments industry, however, Data in action

there can be no hesitation. Data science gives us the chance Though the results of data science are compelling, in action it
to offer a new standard of payment services to merchants, with is a rigorous, exacting and time-consuming process. That’s why
solutions that adapt based on systematic analysis of the oceans the only way to employ it in your business is as part of a strict,
of key data accrued from the long list of potential sources: from monitored and strategic approach. Plus, you need some
sales channels to public government information to social media specialists on board who are passionate about payments and
data and more. willing to devote hours to extensive data mining.
Merchants have a right to demand solutions from PSPs that use At Acapture, we have deployed our Data Science Team to work
every possible tool to improve revenue and reduce risk. If you are on maximising the revenue of our clients. Through deep analysis,
not taking data science seriously, you simply can’t claim to be the team identify what card types or banks might be commonly
doing everything in your power to support your clients. So, how at the root of declined transactions and assess the potential
does data science fit into the modern payment mix? And what causes.
should merchants be expecting from PSPs in the Big Data age?
Then, it allows the merchant to route future transactions differently,
The power of information so they are more likely to gain acceptance. They can also report
While the potential uses of data in the payments industry are back to the merchant with advice on technical changes that is
many, two areas in particular stand out as benefiting the most backed up not only by experience but also by a solid, scientific
from intelligent data science: security and authorisation. Let’s take breakdown of their recent transaction history.
the latter issue first.
As well as improving the chances of legitimate buyers being
In the past, a merchant would receive reports back from their accepted, data is equally useful to ensure that fraudsters are
PSP with a list of transactions, noting which ones were declined kept at bay. Since the dawn of ecommerce, PSPs have struggled
and which ones were approved. No insight was offered into why to strike the right balance when it comes to risk management:
declines were happening or how they could be prevented from keeping things loose enough to protect conversion rates while
happening again. The results were inflexible facts leaving the providing enough protection to eliminate fraud.
merchant with no clue as to how to use them.
By approaching risk scientifically, we can identify customers
PSPs are now crunching the data behind the numbers, breaking and track behaviour based on website profiles, device usage,
down the patterns and motivations of consumers, as well network usage, customer behaviour and more. This makes it
as how this relates to whether a transaction was approved or increasingly difficult for online scam artists to operate from
declined. This way, rather than hand back a long list of complex their traditional hiding places, while guaranteeing that honest
information, they can return concrete advice on technical tweaks customers are rarely locked out by mistake. ➔
that will eliminate obstacles in the authorisation process.
9 ONLINE PAYMENTS AND ECOMMERCE MARKET GUIDE 2016 | THOUGHT LEADERSHIP

➔ Data science may even make it possible to minimise many
of the costs that merchants face when handling card payments,
which are determined by thousands of complex and ever-
changing rules. In many cases, we are educating our clients

Nathan Trousdell
on elements of their payment processing that they didn’t know
Director of Strategy & Corporate Development about. That is the real power of data science – it allows us to
Acapture tinker with parts of the payment dynamic that were previously off
limits. The results? Better authorisation rates, improved security
and happier merchants.
About Nathan Trousdell: Nathan is Director of As I have already mentioned, data science is not simple. Yet, as
Strategy & Corporate Development at Acapture, the amount of data grows, it will be the PSPs and acquirers
a Payvision company. He works with the founders that truly understand and utilise information that will take the
and department managers across all areas of the advantage in the increasingly competitive omnichannel payments
firm, including sales strategy, data science and arena.
product. He is also responsible for the valuation

and analysis of strategic investments and merger &
acquisition activity.
About Acapture: Acapture is a global omnichannel

PSP whose system features SlicePay for simplified
allocation of funds to multiple parties from a
single transaction, data science management for
improved authorization rates, a one day integration
using one RESTful API, consolidated reporting,
streamlined reconciliation process and global card
acquiring and processing.
www.acapture.com
Click here for the company profile
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Computop
POS Terminals Within the Omnichannel Environment
Bricks-and-mortar trade grows hand-in-hand with ecommerce. For merchants who use a PCI P2PE solution, the need to gain PCI
A new generation of POS solutions is combining the most robust certification for their IT system landscape, which would otherwise
data security with omnichannel integration and global coverage. be necessary, is reduced to almost zero. A couple of crosses on a
POS terminals are renewed every three to five years. For many PCI form is all that is required.
merchants, this is a large investment that means committing to
one form of technology for many years to come. That is why P2PE POS solutions are a new innovative technology. In 2015
keeping track of the latest innovations is a worthwhile endeavour. Computop became the first payment service provider to
become a certified PCI P2PE solution provider in Germany.
A new generation of POS solutions has been developed, which Worldwide only 14 companies were able to provide P2PE
reduces costs and expenditure on PCI security audits and also POS solutions. Computop started POS services in 2010 but
protects consumer card data through point-to-point-encryption it took us five years to grow from a pure online PSP to deliver
(P2PE). The corresponding POS solutions not only improve a truly omnichannel payment solution through just one global
security but also enhance omnichannel retail activities because payment platform including secure P2PE POS solutions.
they can be used with smartphones or tablets at no great expense. Given the effort Computop made P2PE POS white label
And international branches also have reason to rejoice: P2PE POS solutions available to banks and other PSPs, too.
terminals can now be used worldwide, offering three substantial
benefits: security, omnichannel use and internationalisation.
POS and omnichannel payment

Security: point-to-point encryption The security offered by P2PE POS solutions also facilitates
Criminal hackers are desperate to get their hands on people‘s integration into an omnichannel environment as POS devices
credit and debit card details. That is why the number of attacks on can be used with any smartphone or tablet, even though mobile
POS systems in retail, restaurants and hotel chains is on the rise. devices are still usually classed as insecure. Thanks to the strong
This is not just an annoyance for the customers, it also damages P2PE encryption, card data is kept secure even when the devices
the brand image of the hotels, restaurants and merchants affected. are not. This means businesses are free to choose any mobile
device and app for their omnichannel retail strategy. With the new
In order to counter this loss of trust, Visa and MasterCard have P2PE POS solution, Computop is set up for omnichannel payment,
introduced new security standards which protect merchants including consistent tokenisation across all channels. This has
against data theft through strong encryption: Point-to-Point a number of benefits: omnichannel reports and statistics also
Encryption (P2PE) to be precise. Payment data is heavily allow for analysis of sales across all channels, all branches and all
encrypted directly on the POS terminal, with each payment being online shops. The accounting team can refer back to settlement
given a new key. The data is only decrypted when it is received by files (CTSF), which Computop has standardised for all channels
the payment service provider. The robust encryption means data and for all payment types worldwide so that reconciliation can
can be transferred between any type of device on its way to the easily be automated. Last, but not the least, support teams can
payment provider from the POS terminal, thus doing away with use omnichannel payment data to find not only online and mobile
the need for a PCI audit as neither merchants nor hackers have payments, but also data from over-the-counter trade. ➔
access to the data.

POS terminals in international branches
Payment at POS terminals used to be an area of business with
domestic focus. In many countries, international merchants

Ralf Gladis
had to sign separate contracts with local service providers.
Founder & CEO This resulted in high processing costs as different terminals,
Computop reports, statistics and file formats were being used in each country,
which led to a very costly IT integration process. The P2PE POS
solution consigns all this to the past. The new POS terminals
can be used globally and, with the large selection of Computop
About Ralf Gladis: Ralf founded Computop in 1997 Paygate acquirers, international branches can use their preferred
together with Frank Arnoldt. In the early years, he local financial service provider. Merchants can simply choose the
worked as software architect in the successful best acquirer for international business. This offers merchants the
development of the Computop Paygate platform. highest degree of flexibility in terms of international expansion and
Gladis had gained the necessary understanding of optimises conversion and transaction fees.
technology at the University of Bamberg. Today he

is responsible for international expansion and for The symbiosis between POS and ecommerce globally means new
Computop's strategic direction. revenue potential can be achieved through customer-orientated
sales and service features, such as In-Store Return, Click-and-
About Computop: Computop is a leading Collect or Order In-Store. The available POS hardware ranges
international Payment Service Provider that enables from countertop terminals for use in a till environment, mobile POS
merchants and white label customers to process and multimedia devices to self-service terminals for machines.
global multichannel payments. Computop’s state- In addition, Computop supports 27 till solutions currently available
of-the-art payment platform Computop Paygate from manufacturers such as IBM, Microsoft Dynamics AX, NCR
offers seamless solutions for mobile, online and and Oracle.
in store payment transactions. Headquartered in

Germany, the company has sales operations in The next terminal upgrade is an opportunity for further innovation.
New York, London, and Shanghai. Greater security, easier omnichannel integration and international
coverage are good reasons to take a closer look at P2PE
www.computop.com solutions. Advantages of P2PE POS solutions include protection
for customers‘ card data, protection for the merchant‘s brand
image, improved integration in an omnichannel environment,
global implementation of the terminals, standardisation for cost
cuts, expenditure cuts on PCI audits and White Label opportunity.

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HiPay
Payment Data: Valuable Insights to Drive Profitability on Merchant Sites
With the rise of big data, e-merchants can benefit from various Information such as the acquisition channel used by customers,
indicators to analyse their customer’s browsing behavior. their purchasing behavior or the card country of origin can help
However, transaction data are still too often overlooked. them spot profiles deemed reliable or not. E-merchants can then
A combined analysis of data from the order (customer’s name decide to strengthen or lower the security rules triggered upon
and email address, type of purchase, cart amount, IP address) to payment.
the authorisation request (type of bank card, name of the issuing
institution) provides a wealth of information and opens up many
possibilities for optimisation.
Identifying transaction failure factors

Analysing transactions from payment to final status (payment
accepted or refused, refund requested) helps e-merchants
understand the reasons for their success or failure. It also helps
them to take action and adapt the user experience to different
scenarios according to multiple criteria: display order of payment
methods, personalised payment pages, risk profile, dynamic 3D
Secure, etc.
In order to detect and address threats as soon as possible,
standard customer profiles must be defined in order to focus
attention on all other behaviors. Knowing your customers is key
to ensure optimal security. Knowing the actual performance of your marketing

actions
Aside from transactional considerations, which fall within the
scope of the Finance Department, payment data analytics is also
a powerful tool to measure the efficiency of marketing acquisition
campaigns. In the case of performance-based campaigns, for
instance, merchants can clearly identify visitors who clicked and
bought, as well as subtract those whose payment failed or who
asked for a refund or a chargeback. This indicator is called the
net conversion rate which serves both financial and marketing

purposes. ➔
Implementing custom fraud protection the future of

merchant websites
Identifying transaction data will enable e-merchants to accurately
fight against fraud, without negative impacts on customer
experience, while maintaining their conversion rate.

Overall benefit of exploiting payment data
Selling online requires new client acquisitions. E-merchants
invest significantly in lead acquisition campaigns, SEO and
CRM to attract and convert more customers. Yet, all too often,
Gabriel de Montessus
payment tunnel optimisation is not addressed. That’s why HiPay
CEO has developed value-added tools and proprietary technologies
HiPay around “payment intelligence” to be able to consolidate all
payment data for a specific merchant and analyse it with
algorithms created by teams of data scientists.
About Gabriel de Montessus: In 2004, Gabriel was Information drawn from such analyses aims to optimize the three
investment manager for VPSA tech fund in Palo main performance indicators: the conversion rate, the fraud rate
Alto, joined HiMedia in 2007 and became COO in and the success rate. In other words, this means more sales
2013. In 2015, he was nominated CEO of HiPay without risk.
Group. He graduated from Paris Dauphine and EM

Lyon.
About HiPay: HiPay is an expert in payment

services offering online publishers and retailers
next generation solutions to maximize their
revenue while limiting their risk. HiPay brings added
value to transaction processing with industry-
leading solutions in international payments, risk
management and business intelligence.
www.hipay.com
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Wirecard AG
Omnichannel Commerce and Big Data
The future of retail is based on the seamless

connected consumer with a focus on their needs
The retail sector has grown strongly in recent years. Small shops
have become large stores and huge shopping malls have
appeared. But, at the same time, a conflict has arisen: the more
companies grow, the more they lose the closeness with their
customers. While, in former times, retailers in corner stores
have spoken personally about the preferred products of the
customers, nowadays many of the retailers don’t know anything
about the people buying their products.
The shopping experience has to be individual

Especially for consumers, that’s a pity because most of them The seamless connected consumer immediately gets a coupon on
would prefer individual shopping experiences rather than their smartphone when entering a shop for products of interest.
impersonal buying. So, what does the future hold and how can As a result, they feel recognised and understood. To summarise,
retailers learn from their mistakes? Well, customers and retailers this revolutionary development: the shopping experience has to be
can learn a lot from the idea of the seamless connected consumer individual and the payment process must be very quick and easy.
and this idea will be a real game changer for the retail industry.
Today, there is a lot of technology which can help optimise the
The retail sector is in the middle of a revolution: on one side, payment process as well as the shopping experience. For example,
there are huge ecommerce retailers who are taking business NFC, QR-Codes and Bluetooth connect the merchant with the
from offline stores because they personalise their offers and customer. And there is an easy way to combine the existing
guarantee short delivery times. But, on the other side, there is cash register with these kinds of technology that enable the use of
a big variety of technology available from which these offline target-aimed value added services. It is called ConnectedPOS and,
stores can benefit to reinvent their businesses. Unfortunately, with simple installations, it can use the data that comes from the
many retailers are not familiar with this technology yet. cash register to create personalised special offers for customers.
Latest research shows that customers do not differentiate their For example, with omnichannel solutions like ConnectedPOS,
shopping experience by channel and, if retailers want to thrive in retailers already know the answer to questions like: Which
the digital age, they have to align to the customer expectations – products sell well together? Which merchant is present in my
not the other way round. store? What kind of loyalty programme is he or she likely to use?
Did they redeem a cashback or coupon last time they shopped in

So, how can retailers overcome this problem? It is important that my store?
managers understand the different types of customer needs as well
as being experts in individual customer targeting. Another solution By using this data, dynamic advertising can result: If a merchant
would be to offer their products online, offline and mobile. Finally, they buys for example balsamic vinegar, why not offer him a coupon
should take advantage of the new seamless connected consumer for a special bruschetta? This means that, no matter how they
technology to guide customers to their favorite products. Retailers interact with the business, whether by mobile phone, face-to-
can provide an outstanding customer experience by just linking face or via your website, every experience must be seamless and
online and offline services through big data solutions that can consistent so people do not have to repeat themselves endlessly
easily be installed. or end up being passed from pillar to post. ➔

Digital shopping lists could navigate through the
store
After a consumer puts a shopping list together on their mobile phone
Jörn Leogrande
and enters a supermarket, they could receive help to navigate
Executive Vice President of Mobile Services through the store to find their purchases quicker, while also
Wirecard AG having various tailored special offers sent to them. These offers
would be based on their usual shopping habits and previous
interactions with the store.
About Jörn Leogrande: Jörn is Executive Vice There can be alternatives to the smartphone because these
President of Mobile Services at Wirecard. This unit kinds of loyalty programmes are not tied to a special device.
is developing payment apps, mobile wallets and Also possible for the future are wearables like watches, rings or
value added services for leading European mobile glasses to guide you through the shopping process and allow
operators, financial institutions and merchants. As an people to pay with just a tap. This topic of the seamless connected
expert, Jörn is furthermore responsible for the consumer is more about learning how to understand the consumer
wearable payment product line of Wirecard. because the technology already exists. The future of retail is all
about using this technology to strengthen customer relationships
About Wirecard AG: Wirecard AG is a global and improve the customer experience, while making the day-to-
technology group that supports companies in day operations easier for merchants.
accepting electronic payments from all sales

channels and countries. As a leading independent
supplier, the Wirecard Group offers outsourcing
and white label solutions for electronic payments.
Wirecard AG is listed on the Frankfurt Securities
Exchange.
www.wirecard.com
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time.lex
Is a Data Protection Officer Mandatory for Your Company?
A Data Protection Officer is a position or role within an organi These conditions mean that companies processing personal
sation. The Data Protection Officer oversees the processing of data are not obliged to appoint Data Protection Officers if these
personal and privacy-sensitive information. When the General processes are not part of their core business. In that case, the
Data Protection Regulation (GDPR) comes into force in May company must prove that these processes are not directly
2018, many companies will be obliged to have appointed a Data related to the organisation’s core business.
Protection Officer.
Who can be appointed as Data Protection Officer?

What does a Data Protection Officer do? There are no specific requirements. The Officer should be an
The Data Protection Officer’s tasks include advising organisations ‘expert in the field of data protection legislation.’ Therefore,
on how to comply with the General Data Protection Regulation, the Officer should have extensive experience in the areas of
employee training, and conducting internal audits. The Data privacy protection, data security, business processes, and be
Protection Officer also acts as the contact person for the well-informed about the relevant aspects of the organisation.
supervisory authority and for the individuals to whom the data The Data Protection Officer could be an existing employee,
relates. but there should not be a conflict of interest between the two
roles of the employee. For example, a Data Controller cannot
Except for certain (small) companies, the Data Protection Officer be appointed as a Data Protection Officer because he is already
will keep a register of all organisational processes that involve responsible for many data processing operations.
personal data processing. This register, which should also
contain information about the purpose and conditions of the External Data Protection Officer
processes, may be made available to the supervisory authority. The new European legislation allows the appointment of outside
professionals. This is an excellent solution for SMEs and
What types of organisations are obliged to have a organisations with little in-house knowledge about data security.
Data Protection Officer? This role can be fulfilled by a privacy lawyer. ➔

• P ublic bodies processing personal data (except judicial
institutions);
• Organisations where systematic monitoring of individuals is part
of the core business (e.g. activities such as Google, so-called
‘behavioural advertising’, geolocation, tracking visitor behaviour,
certain cases of direct marketing, ad tracking, personalised
advertising, customer or patient profiles, insurance companies
depending on the product, banks, in short, any activity that

monitors behaviour);
• O rganisations where processing of specific data categories
(e.g. health or religion) is part of the core business (e.g. hospitals,
pharmaceutical companies, certain research institutes, labora
tories, market research focused on sensitive data such as
political preferences).

How to prepare for the GDPR?
A lot depends on what is already in place at your company.
You should at least:

Edwin Jacobs
FinTech lawyer • R eview existing privacy notices and existing contracts, in

time.lex particular with data processors, and update them to comply with
the GDPR;
• Determine which data protection supervisory authority will be
responsible for supervising your organisation’s compliance;
About Edwin Jacobs: Edwin Jacobs is a partner at • Ensure appropriate procedures are in place to detect, investigate
time.lex and lecturer at the University of Antwerp. and report data breaches;
Specialties: business law in the information society, • Update any internally existing policies or procedures about what
negotiation and legal management of ICT-projects, personal data is stored, where it came from and with whom it is
outsourcing, intellectual property rights, copyright, shared, about individuals’ rights, about access requests (special
trademarks, privacy/data protection, e-business, rules for children);
electronic contracting, dispute resolution in IT and • Document data processing activities and identify the appropriate
IP conflicts. legal basis to carry out each type of data processing activity;
• Review how consent of the individual person is sought, collected
About time.lex: time.lex is a law firm specialised in and recorded, and ensure that procedures comply with the new
FinTech, information and technology law in the requirements of the GDPR;
broadest sense, including privacy protection, • Determine how you will implement Data Protection by Design and
data and information management, e-business, Data Protection Impact Assessment within your organisation;
intellectual property, online media and tele • Appoint a Data Protection Officer, if required, or someone to take
communications. responsibility for data protection compliance.
www.timelex.eu
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Mobile (R)Evolution
Adyen
What Does the Rise of Mobile Really Mean for Global Retailers
Practical advice for retailers to get the most from mobile commerce, across all regions
Mobile is playing an ever-growing role in the customer journey. 2. Asia: Where local payment methods hold the key
Globally, it accounts for 37% of online transactions, up from In Asia, the online mobile share is 39%. This is partly driven by
30% in 2015. And it is on the rise in-store too, increasing by over the number of shoppers going online mobile-first, and partly
300% in the UK in the past year. by the fact that Asia is a hotbed of mobile innovation. Alipay is
leading the way with a mobile share of 56%, but WeChat, with
The ubiquity of the smartphone makes it a perfect vehicle for its 400 million user-base, will likely push the needle still further.
anytime, anywhere shopping. A shopper can move easily from Both are expanding quickly, and many of our retailers are
one channel to another; browsing items online, trying them on integrating these methods in order to serve Chinese shoppers
in-store, reading reviews on social media and, finally, checking both home and abroad.
out with a mobile wallet.
3. Brazil: The huge growth opportunity

Consequently, we are seeing an emergence of new shopper Online mobile shopping is accelerating fast, climbing from 10%
experiences. Take Grabble, for example, the ‘Tinder of Fashion’, to 18.8% in the past 12 months, and peaking in December 2015
or the birth of ‘conversational commerce’, where shoppers buy at 35%. And, for large online retailers like Netshoes, mobile is
directly from inside a chat thread. Enabling this are players like a key driver of revenue: “Having a mobile strategy has become
China’s WeChat, whose payment functionality means shoppers crucial for retail companies. Mobile represents more than 50%
can browse, chat, and buy, all within one ecosystem. of the traffic to our website and 30% of conversion. This is why
investing in innovation in payment technology is fundamental.”
Mobile is evolving in-store, too. Today, it is wallets like Apple Leonardo Dib, CFO, Netshoes.
Pay but, in the future, we expect the checkout to disappear
completely and customers will simply check out via a mobile app In Brazil, retailers should be prepared to think laterally. An important
and leave with their purchase – Uber-style. payment method is the cash-based method Boleto Bancário,
which accounts for 15% of online payments, and does not have
What does this look like region by region? an obvious mobile flow. However, there is a solution: shoppers
Globally, retailers are looking at a highly fragmented market; some can scan the QR code and pay with a banking app. Retailers
regions are steaming ahead, while for others, growth is steadier. must ensure they integrate mobile payments in a way that
accommodates local methods, and makes sense to shoppers.
1. US: The rise of the mobile wallet

Mobile is gathering momentum in the US, now accounting for 33% 4. Europe: a diverse yet mobile-savvy market
of all online payments. This is largely down to millennials, 91% With an online mobile share of 55%, the UK is the undisputed
of whom have made a purchase on their smartphone. And, with leader. Apple Pay and Android Pay are catching on fast, and
Apple Pay, Android Pay and Samsung Pay in the market, the retailers must offer a mobile-optimised flow in order to remain
number of shoppers with payment functionality built into their competitive. ➔
phones is approaching the tipping point. Interestingly, while
Android has the greater market share, we see that iPhone
users are leading mobile payments, so retailers should consider
targeting them first.

➔ Increasingly, local payment methods across Western Europe
are being optimised for mobile devices. In Germany, local method
Giropay has a mobile share of 26% while, in the Netherlands,
iDEAL leads with 42%. Furthermore, Sofort, which is used across

Roelant Prins
Western Europe, has a mobile share of 35%. Retailers are therefore
CCO driving conversion rates by supporting these local methods for
Adyen mobile.
So, what is the next step for retailers?

Retailers have the potential to integrate themselves into the lives
About Roelant Prins: Roelant is responsible for of their shoppers as never before – but they must act fast. While
commercial activities at Adyen. After starting his there is no one-size-fits-all approach, the following applies to all
career as a consultant, he moved on to the online regions:
payments industry in early 2000. Throughout the

years, Roelant has held various international • Minimise number of steps to purchase
management roles in sales and business develop

ment for companies providing payment solutions to It is vital to keep the process simple. This can be achieved by
international ecommerce businesses. enabling one-click payments, thereby eliminating the need to
re-enter long card details, which can be a real conversion killer.
About Adyen: Adyen payments technology powers We strongly recommend supporting one-click, or even zero-
global commerce for the world’s fastest growing click, payments for mobile transactions. In-store retailers can
companies. Its unique solution drives conversions streamline the experience by supporting mobile wallets.
by supporting a broad range of shopper journeys

online, on mobile, and in-store. And its modern • Focus on end-to-end conversion
infrastructure optimizes the payments process by

connecting businesses directly to all major card This means removing every possible barrier to pay. Factors such
schemes and local payment methods. All of this is as the choice of payment methods can have a huge impact,
managed in a single, purpose-built platform, which and technology now exists to dynamically offer a targeted list
is trusted by global brands such as Facebook, of methods based on shopper location or device-type. Further,
Uber, Netflix, Mango, O’Neill and Superdry. if the shopper is redirected to an external site to complete a
purchase, the transition must be invisible.
www.adyen.com
Keeping abreast of rapidly emerging trends can be a daunting
task for retailers. But, with the right partners, and the latest
technology, retailers can deliver a range of customer journeys
that keep shoppers around the world coming back for more.
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GfK
Smartphone Adoption Is Transforming the US Consumers Payment Preferences
US smartphone adoption is changing the way consumers But the disparity between the ways that US consumers shop
shop and pay for goods and services both online and in-store. compared to the rest of the world becomes very clear when
And, although the increase in smartphone ownership is a we look at the use of smartphones for in-store payments as
long-term global trend, the influence of mobile payments on a percentage of all transactions. Not surprisingly, the APAC
in-store shopping has not taken hold in the US like it has in region leads the rest of the world with 9% of transactions being
other developed countries. This is evident when we are looking conducted on mobile phones in store. China use of in-store
at GfK’s 2016 FutureBuy Data, a global study on shopping mobile payments is nearly reaching the typically agreed tipping
behaviour conducted across 20 countries and 16 categories point for ubiquity of 10%.
including mobile payments.
Despite the high in-store use of smartphones to shop amongst
Smartphone ownership, defined as a smartphone that can US consumers, in-store mobile payment adoption as a
access the internet, is 82% globally with ownership being most percentage of all transactions is still very low, at 2.2%, and is
prevalent in the regions with developing markets, like LATAM and well below the global average of 5.3%. This is an interesting
APAC. US smartphone ownership lags most regions at 70%. finding because this tells us that, although the US consumers
are using their phones to shop, they are not using them to pay,
This sets up an interesting stage when we begin to look at the unlike the more developing world.
online and in-store shopping behaviours of consumers around
the world and, in particular, in the US. We asked consumers; This is an opportunity and also a challenge because in developing
“When thinking of the last time you used a smartphone or tablet markets the rapid growth and high adoption of smartphones has
to help you shop, where did you shop, in-store or online?” 37% allowed several markets to leapfrog many current technologies that
of US consumers stated that they shopped in-store the last time are well established in more developed markets and thus hindering
they shopped using their smartphone. the transition to mobile payments from traditional payment
methods such as swipe, signing, chip and of course cash.

When we compare this to a developing market like China, with
nearly 25% higher smartphone ownership, we see that only 30%
is in-store, a 7% difference compared to the US. This finding
highlights that the US consumers are using their smartphones to
shop in-store more often than in China.
When we look at China, smartphone adoption, the use of
phones to shop in store and mobile payment use in store are all
very high. We see similar behavior in the US. However, the US
consumers are not using their phones to pay despite using them
for in-store shopping. Why? ➔

There are three primary reasons, most of which are table stakes –
adoption, consumer benefit and effective communication strategy.
• S tructural – merchants don’t always have the hardware to
process mobile transactions, typically NFC-enabled terminals, but

Tim Spenny
the shift to chip cards is helping motivate retailers.
Card and Payments expert • A cceptance – consumers and merchants are not always
GfK aware of their ability to accept mobile payments which creates
uncertainty at the point of sale and consumers default to proven
modes of payment.
• Communication – there hasn’t been a clear communication of
About Tim Spenny: Tim works as a Card and the benefits of mobile payments to merchants and consumers,
Payments expert with GfK’s Financial Services specifically the secure use of tokens and the increased
practice. Tim oversees the design, implementation, opportunity for consumer loyalty.
and delivery of consumer research and is the central

relationship contact for GfK’s Financial Services When we see mobile payment adoption beginning to reach a
clients. Tim has been a member of GfK since 2012. critical mass, or tipping point, like in China, the result is a much
more consumer-centric approach to mobile payment apps
About GfK: GfK is the trusted source of relevant and wallets, as well as the retail experience. More than half of
market and consumer information that enables Chinese respondents indicate that they use AliPay or WeChat,
its clients to make smarter decisions. More than both of which offer rich wallet experiences, thus allowing the
13,000 market research experts combine their user to not only pay for goods and services both online and in
passion with GfK’s long-standing data science store, but the apps also facilitate person to person payments, bill
experience. This allows GfK to deliver vital global pay, investing in the stock market and playing the lottery.
insights matched with local market intelligence

from more than 100 countries. By using innovative In addition, because of the proliferation of these mobile wallets/
technologies and data sciences, GfK turns big payment apps, waiting in line to pay becomes unnecessary
data into smart data, enabling its clients to improve with checkout ability through smart kiosks. Representatives are
their competitive edge and enrich consumers' no longer tied to the checkout lane, so they are free to facilitate
experiences and choices. sales and help consumers with their needs. In addition, through
the integration of beacon technology, location-based offers and
www.gfk.com discounts can be used in conjunction with a loyalty or payment app.
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MRC
How Your Smartphone Will Replace your Wallet and Why that’s a Good Thing
As a child, I only ever needed one thing when leaving the house: While many people still have reservations about using their
my keys. As my typical stops were either school or a friend’s smartphone to pay for their groceries, actually there are a
house, I didn’t need a wallet; mobile phones still required a number of benefits to the consumer and the financial institutions
separate briefcase and were only affordable for people who alike. Consumers – especially millennials – want everything to
called Wall Street their second home. I fondly think back to be as easy and efficient as possible and it doesn’t get much
those days as I stuff my wallet, smartphone, and ever-growing easier than tapping your phone on a Point of Sale Terminal while
keychain in my pockets on my way to work. All of these items holding your thumb on the fingerprint reader. There is no longer
have become a necessity in today’s day-and-age, and as much a need to get the wallet out, find the credit card and, in most
as I dislike carrying them all with me, I feel naked without any cases now, insert it into the bottom of the POS terminal, just to
one of those three items. wait for what seems like an eternity for it to read the EMV chip.
These mobile payments are also exceptionally secure due to
Given the rapid pace at which technology is advancing, however, tokens that replace the actual card numbers; no card data is
your wallet and keys will be items of the past before you know it. retained on the phone or transmitted to the merchant's servers.
While some people may consider that far-fetched, the technology Financial institutions benefit from this end-to-end encryption
to make your smartphone a do-everything device already exists without the added delay of using an EMV card. Another advantage
and is used by many people daily. Not only are Apple Pay, Android for merchants is the liability that lies with the issuer in the event
Pay, and other mobile payment methods gaining users rapidly, of a fraud chargeback.
people are using their smartphones to unlock their houses,
interact with their cars, and much more. While smartphones are While many private companies have adopted the smartphone
the original “smart” device, the ever growing landscape of the as a way to lighten one’s wallet by offering digital versions of
Internet of Things has created a slew of smart devices, most of everything from AAA cards to insurance cards and grocery
which can be controlled with your phone. discount cards, adaptation of digital ID cards and drivers
licences is proving to be more of a challenge as it carries

a number of risks that need solving, such as falsification of a
DDL (Digital Driver’s Licence). Delaware and Iowa are two states
currently running a pilot programme for DDL’s, which consists of
a state sponsored app that assures the information on the DDL
is always up to date and has several fraud prevention measures
built in, such as a moving picture, in order to prevent falsification.
As physical credit cards pose a much greater fraud risk that

has only been partially mitigated by the introduction of the EMV
chip in the US, card issuers are focusing on ways to issue digital
credit card tokens directly to an end user's device. While the
technology to make this a reality already exists, the infrastructure
to support it is likely still several years out. ➔

➔ Although one can go to the grocery store and pay with their
phone, online shopping is more popular than ever, which in many
cases still requires the customer to enter a credit card number.
Even as different payment methods such as PayPal are steadily

Markus Bergthaler
gaining popularity and are adapted by more people each year, in
Director of Programs most cases the underlying funding method is still a credit card.
MRC Card issuers are investing heavily into their R&D departments,
creating a multitude of opportunities that make paying for goods
and services easier and more convenient. Considering that we
live in an era where most people would prefer to leave their
About Markus Bergthaler: As Director of Programs, house without their wallet rather than their smartphone if given
Markus oversees the development of all Association the choice, assuring that those two items are one in the same,
program content, conference education, committee only seems logical.
and community subject matter, website content,

benchmarking and online forum topics. Markus Reflecting on my childhood, I have nostalgia thinking about those
joined the MRC from Wizards of the Coast, where easy and carefree years when all I needed was my house key.
he managed the fraud department. I do however look forward to a time when I can grab my phone
as I head out the door, confident that I have everything I need,
About MRC: The MRC is a global trade association wherever the day takes me.
providing a platform for ecommerce fraud and

payments professionals to come together and
share information. As a not-for-profit entity, the
MRC’s vision is to make commerce safe and
profitable everywhere by offering four annual
US and EU conferences, proprietary education,
training, networking as well as a forum for timely
and relevant discussions.
www.merchantriskcouncil.org
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Expanding Ecommerce Across Borders
PayU
How to Adapt Your Strategy to Consumer Behaviours in Emerging Markets
High growth or emerging markets offer a great opportunity for While merchants cannot control what the carrier does, having
merchants seeking to increase their sales and expand their a checkout process that is quick and easy to complete, will
consumer base. Many of these markets in Asia, Africa, Central minimise the risk of the data dropping during the transaction
and Eastern Europe and Latin America are seeing double-digit process.
ecommerce growth, which is not expected to slow down through
2022. These markets are seeing an increase in consumers with Finally, taking a mobile first approach does not mean that a
access to the Internet and who want to shop online. Much of the merchant needs to have an application and in many cases a mobile
growth we see in online shopping is due to the burgeoning middle responsive page is sufficient. The usability has to be front and
class using their smartphones to transact online. This new type of centre to ensure that consumers in each market can interact with
consumer presents an opportunity for merchants, but merchants an international website, in the same way as they are accustomed
must understand some of the needs of this consumer segment to do with local websites. The items to be considered: if the icons
in order to successfully reach them. The trends mentioned below are clear/understandable in the local market, if the products are
are prevalent in many of these markets and should be addressed displayed in order of popularity for the local market, and if the
when entering high growth markets. users easily navigate the website.
Mobile first strategy is key Alternative payment options still necessary

The emergence of a wide range of smartphones has given many In many of the high growth markets, we see that ecommerce is
people in the middle and lower income ranges a cheap and easy growing and new buyers are coming online daily. These buyers
way to gain internet access. In India, 65% of the population are excited to make purchases and reap the benefits of online
under 35 have a smartphone and the country will be the second shopping. However, at the same time, many of these consumers
largest smartphone market by the end of 2016. Other markets like do not have access to traditional online payment methods like
Brazil have more mobile subscriptions than the population of the credit and debit cards. In many of the high growth markets, credit
country, showing that nearly everyone has some type of mobile card penetration is still less than 50% of the population. To meet
device. these consumers’ needs, merchants must offer the alternative
payments that are common in each market. These alternative
In order to have a mobile first strategy, there are three key points payment methods include cash on delivery, cash payments,
to consider in high growth markets – page load time, carrier drops bank transfers and local credit and debit cards. Each market
and overall usability. Some broadband connections in markets is unique and consumers have preferred payment methods
including Africa and Southeast Asia are much slower than the based on the local landscape. The reasons and the trends for
Western markets. If a website takes too long to load, the consumer the alternative payments come from a variety of circumstances,
will go somewhere else to shop online. The mobile experience including everything from the economic state of the country to the
must be fast in page loading to account for slower broadband consumer’s access to technology and his purchasing habits. ➔
connections and consumers with limited data on their phone.
Second, we have seen a big challenge in India, with cell phone
carriers dropping the data for a moment during the checkout
process, thus causing a decrease in completed transactions.

Instalments are a way to increase sales
Many customers in high growth markets from Turkey and
Romania to Brazil and Argentina are accustomed to paying
for credit card purchases using instalments. Instalments

Matthias Setzer
allow consumers to pay for a purchase over a set amount of
Chief Commercial Officer monthly payments between 1 - 48 months, depending on the
PayU country, with added interest. This is an arrangement between
the consumer and the issuing bank, which means that there
is no default risk to the merchant. The traditional method of
instalments has started to evolve based on market conditions.
About Matthias Setzer: Matthias Setzer is the Chief In Argentina and Mexico, in an effort to increase consumer
Commercial Office for PayU and has over 12 years spending, merchants and banks have started offering interest-
of experience in the payments and tech industry free instalments where they cover the cost of the interest. This
working with merchants and partners across the has proven successful in both markets and many consumers
globe. He holds a Master’s degree from WHU in wait until there are promotions to make purchases. In Brazil,
Germany. consumers also like to use instalments and have “interest free”
promotions. In this case, merchants build the cost of the interest
About PayU: PayU is a leading online payment into the final product price and consumers know they are paying
service provider dedicated to creating a fast and more for the instalments. In Turkey, instalments are used for 85%
secure payment process for merchants and buyers. of all credit card transactions and consumers expect the option.
Our presence in 16 high growth markets and local

focus enable us to be the experts and provide the Conclusion
best solution for each market. PayU makes up the To reiterate, there is a huge and growing opportunity to increase
e-payments division of Naspers Ltd. sales by entering these high growth markets. Here, we are seeing
more than 20% growth. However, to take full advantage of this,
www.payu.com you must genuinely understand consumer behaviours and adapt
your strategy to meet their needs. If you offer your customers
the most user-friendly experience, you will have success, thus
growing your business in these exciting markets.
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Saxo Payments
International B2B Payments Crossing Borders without Delays and High Fees
According to a McKinsey Global Institute report, global trade 63% of payments-related businesses we surveyed stated that
flows could reach up to USD 85 trillion by 2025, tripling current they are dissatisfied with how long international transfers take to
levels. The report also states that one in three goods is sold arrive in the recipient’s account, and just 38% believe they get a
across borders and over 33% of financial investments are competitive FX rate for cross border payments with their current
international transactions. provider. However, a third of respondents hadn’t even looked
at other options – with lack of time being the most common
These figures demonstrate the importance of efficient payments explanation.
services. Many businesses pay a 3% international payment fee,
which may seem low, but for all the trade predicted for 2025, Whilst banks will continue to play an important role, there is
that equates to USD 2.55 trillion in profit wasted by companies undoubtedly a place alongside them for new payment entrants
around the world – not a figure that many can afford to ignore. and financial services providers to offer alternative solutions.
But our research reveals that we are a long way from this future
Straightening priorities vision.
Payments can be seen as an insignificant detail in setting up a
business, and a low priority that risks being overlooked even Companies are focused on day-to-day tasks and providing
when payments are not performing well enough. Whilst the customers with a good service, which makes it hard for them to
product and customer service should, of course, be the main spend time considering the bigger picture to realise they could
focus for any company, ensuring that the business does not get a better payments service elsewhere.
waste money unnecessarily every time it sends or receives a
payment could make a meaningful difference to profitability. Seeking a better solution

It is time for businesses to reassess their priorities to see just
It has long been said that the world is becoming a smaller place how much they could benefit from streamlining their payments
and, in terms of buying, selling and providing services, that is process. Encouragingly, our survey showed that businesses
undoubtedly true. But the reality is that unfortunately many would be willing to switch provider if they could see clear benefits.
businesses, particularly start-ups and smaller firms, are finding A cheaper service (for 79.4%) or faster transactions (for 63%)
it prohibitive to trade internationally due to high transfer fees and would push them to change the payment provider. ➔
poor FX rates.
Time poor equals business poor

With international trade increasing rapidly, payment processes
need to keep up or they could hold businesses back from their

full potential. Traditional cross border bank transfers are no longer
the only solution. Yet, research we carried out earlier in the year
(Saxo Payments Whitepaper – published April 2016) shows that
companies often lack the time and resources to investigate
alternatives. This means they put up with paying high fees for poor
FX rates and slow transfers, potentially seriously affecting the
ability of companies to compete in a global market.

➔ The most exciting part, for us, is the high proportion of
respondents who recognise the opportunities of newer and
lesser-known providers, and who would be willing to employ one if
it meant a more efficient service. Again, the reason they have not
Anders la Cour
yet made that move is the lack of time to research alternatives,
Co-founder and Chief Executive Officer rather than a lack of alternatives. Only 27% were even aware
Saxo Payments of any new entrants in the market, showing how time-poor
businesses are when it comes to researching payments process
options.
About Anders la Cour: Before inventing the concept The best of both worlds
behind the Saxo Payments Banking Circle and At Saxo Payments, we’ve created a solution specifically to provide
achieving start-up support from Saxo Bank, Anders faster cross border payments, by becoming a hybrid between a
la Cour worked as a technology and financial traditional bank and a fintech company. Our infrastructure works
M&A lawyer at Bech Bruun, a tier one law firm in on the same Oracle platform used by the banks, but we have the
Copenhagen. agility and mindset of a fintech. It’s the best of both worlds.
About Saxo Payments: Saxo Payments is the global By providing global payment account transactions and foreign
transactions services provider founded in 2013. exchange services to payment providers, including acquirers,
Registered as a payment institution in the EU, Saxo payment service providers, FX businesses, money transfer
Payments specialises in providing global payment businesses, e-wallets and alternative payment providers, the
account transactions and foreign exchange Saxo Payments Banking Circle provides a seamless conduit
services to payment providers, including acquirers, for bank transfers in multiple currencies anywhere in the world.
payment service providers, FX brokers, money As a result, payment service businesses can extend their value
transfer businesses, e-wallets and alternative chain by providing bank transfer capabilities in their own or their
payment providers. clients’ name.
www.saxopayments.com The Saxo Payments Banking Circle provides access to a global
banking platform with over 25 currency accounts, making cross
border payments ‘local’ by using segregated international
bank account number (IBAN) accounts in multiple currencies.
Nominated for 12 awards so far in 2016, and adopted by global
payments businesses including First Data, Credorax, SafeCharge,
Allied Wallet and Valitor, the Banking Circle is already empowering

B2B enterprise and global trade.
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yStats.com
European Markets Reflect Diversity in Payment Methods for Online Purchases
The online payment landscape in Europe remains dynamic. Not in Russia, Greece, Poland, Romania, the Czech Republic and
only do the preferences of online shoppers regarding payment others, but is no longer number one in all of them. For example,
methods differ from country to country, but they also evolve over the national statistical office in Russia reported a rapid increase
time. Various consumer surveys and market data shed light on in online shoppers’ share paying by bank card and a gradual
these trends and reveal the importance of offering preferred and decrease in those choosing cash on delivery over the past three
secure payment methods to digital buyers on the Old Continent. years. The volume of online payments by bank card is also rising
in countries such as Turkey and Ukraine.
Credit or debit cards are long standing leaders among online
payment methods in Western European countries such as the
UK, France, Italy, Belgium, Norway and others. In several of
these markets, however, recent surveys have shown that the
share of online shoppers reporting use of bank cards to pay for
purchases over the Internet remained stable or declined, while the
share using online payment services, such as PayPal, increased.
Another marker of this trend is reflected in a survey conducted in
Norway in late 2015 that noted a decrease of 5 percentage points
in the share of online shoppers who prefer to pay by debit or
credit card, as compared to the previous year, and a simultaneous
15 percentage points increase in the share of shoppers choosing
digital payment systems.
There are also several countries in Western Europe where
alternative payment methods rule over credit cards in online

payments. In Spain, it is PayPal, in the Netherlands iDEAL, and
in Switzerland and Germany invoice. Germany is also witnessing Whether in Eastern or Western Europe, security is one of the top
a shift in online payment methods: preference for invoice among considerations for online shoppers when choosing a payment
online shoppers decreased or remained stable compared to the method in an online store. For more than three quarters of
previous year, according to different sources, while methods online shoppers in Spain, safety comes first when choosing
such as PayPal and SOFORT Überweisung were on the rise. payment means, above factors such as speed, convenience and
related loyalty programmes. More online shoppers in Germany
In Eastern Europe, where the B2C ecommerce market has a cite security as their primary criteria in online payment means
faster growth rate off a lower base, the online payment landscape selection than those citing costs of usage. And in Greece, close
is even more diverse and dynamic. Insufficient bank card to half of online shoppers state that they choose an online
penetration and lack of trust in the online purchase process had retailer based on the offer of secure payment methods from a
supported the popularity of cash on delivery in multiple online reputable provider. ➔
retail markets during their first stages of development. Cash is
still one of the most used payment methods by online shoppers

Tatiana Teplova
Head of the Research Department

yStats.com
About Tatiana Teplova: Tatiana has been with

yStats.com for four years. She is Head of the
Research Department and holds a graduate
diploma in Management from the University of
London and an interdisciplinary MSc from the
University of Hamburg.
Even in the UK, the largest and most advanced ecommerce
About yStats.com: Founded in 2005 and head market in Europe, Internet users are increasingly wary of online
quartered in Hamburg, Germany, yStats.com is one payment security. While more than 50% of them would provide
of the world’s leading secondary market research their credit or debit card details on the Internet, despite having
companies committed to providing up-to-date some safety concerns, the number of those who would never
and objective data on global B2C ecommerce pay online by card because of security issues increased by more
and online payment markets to sector-leading than half between 2013 and 2015. Another example is Belgium:
companies worldwide. payment security concern is the second most popular reason for
individuals in this country to not shop online.
www.ystats.com
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Driving Ecommerce Growth
ACI Worldwide
The Role of Payment Acceptance in Driving Ecommerce Growth Strategies
With 1.6 billion people shopping online in 2016, spending more As a consequence, retailers are focused more intensely on
than USD 2 trillion annually, and with cross-border spending growth through digital. But not every merchant has the same
expected to hit USD 1 trillion by 2020, the opportunities for starting point, motivation, or resources, so growth strategies
merchant growth have never been so significant, varied and vary widely.
fast. Payments, and the role they play in converting shoppers
into buyers, are becoming increasingly central to these growth A framework for evaluating merchant growth
trajectories. Savvy merchants know that payments are integral strategies
to a great shopping experience, and understand that payment Together with First Annapolis, ACI Worldwide published a
can often be the differentiator. Eager to capitalise on the USD 2.2 whitepaper that identifies five key growth paths and establishes
trillion global ecommerce opportunity, merchants need to carefully a framework for understanding the opportunities that come from
determine which growth path to pursue, and how to tackle the digital channels. Although winning strategies are highly specific
specific payment challenges that each growth path entails. and no two merchants should expect the same success with the
exact same approach, evaluating common growth scenarios,
Digital commerce as the primary driver of retail sales and analysing how successful merchants have mastered the
The rules of engagement between merchant and consumer are accompanying payments challenges, can provide fresh insights
fundamentally changing, becoming more digital and more open. for merchants and their payment providers alike.
Shoppers purchase goods and services at home, at work, or on
the go, in lieu of buying from physical shops. Before purchase, Merchants are turning to their solution providers to enable them
shoppers learn about products through online review sites, and to pursue these growth trajectories, and the question for those
afterwards they use social media to praise or disparage them. solution providers is then whether they have the tools and
And to complete purchases simply and securely, shoppers have technology to enable their merchants to grow – any which way
a growing number of payment methods and mobile wallets from they choose.
which to choose.
Five merchant growth strategies
Digital commerce has been a growth opportunity for retailers and 1. Going online for the first time: Merchants expanding into digital
brands for more than two decades, but today’s demographic channels encounter many new requirements; from customer
shifts and unparallelled advances in smartphone technology have experience and logistics to cash management. These merchants
created new opportunities. Millennials, the generation of digital must balance the trade-offs between time to market and ease
natives who do not remember a world without the internet, are of enablement with control and cost.
now the largest segment of the US population and comprise 24%
of the European Union’s citizens. Plus, more people now live in 2. D iversifying channels: Optimisation is a seemingly endless
cities, automobile ownership is decreasing in developed markets, journey for online merchants, given that the customer experience
high-speed internet connections are becoming ubiquitous, and can always be better, conversion rates can always be higher,
smartphone penetration is still rising. and fraud can always be lower. Operational complexities are
magnified when merchants expand into non-direct distribution
The net result is that digital commerce is growing 10% to 20% channels and business models in which enablers, intermediaries,
annually, while in-store sales remain flat, or are even shrinking by and aggregators alter the requirements. ➔
as much as 5% per year in some markets.

Markus Rinderer
Senior Vice President

ACI Worldwide
About Markus Rinderer: Markus serves as SVP

at ACI Worldwide, driving the development of the
company's omnichannel merchant retail strategy.
Previously, he served as CEO and founder of
PAY.ON, a leader in ecommerce payment gateway
services, which was acquired by ACI in 2015.
About ACI Worldwide: ACI Worldwide, the Universal 3. Expanding internationally: Although cross-border expansion
Payments (UP) company, powers electronic is comparatively easier in digital commerce than traditional
payments for more than 5,100 organisations physical commerce, it is still challenging. Competing for foreign
around the world. Through a comprehensive suite consumers requires marketing and operational adaptation
of software and SaaS-based solutions, ACI delivers catered to local shoppers. The benefits of cross-border
real-time, any-to-any payments capabilities and expansion are undeniable, however, as only China, the US,
enables the industry’s most complete omnichannel and the UK markets represent more than 10% of total global
payments experience. ecommerce.
www.aciworldwide.com 4. Investing in mobile: Mobile is currently the priority for many
businesses because nothing else is driving more commerce
growth today. Principles gleaned from traditional ecommerce
extend to mobile, but merchants must adapt the customer
experience and operating model in order to thrive.
5. E xpanding to POS: Ultimately, the lines between channels
are blurring, as brick-and-mortar merchants continue to

venture online, while ecommerce merchants increasingly open
storefronts. It is challenging for these omnichannel merchants
Share this story to offer shoppers a consistent and seamless experience
because payment services are still too often divided between
online and POS.

Juniper Research
IoT and the Connected Consumer
Introduction
The concept of the IoT (Internet of Things) has undoubtedly
gathered pace during the past 3-4 years. While, for some, the
IoT has become a buzzword, likening it to a solution searching
for a problem, this view appears to be focused towards
‘consumer IoT’, where mass adoption of devices such as
smartwatches and smart home services have thus far struggled
to gain traction. The reality is that the value of the IoT lies in the
enterprise realm, where the collection and analysis of data from
connected units can provide a business with enormous insight
into its operations. This transformation has already occurred to
an extent in some industrial settings, given the growth of SCADA
(supervisory control and data acquisition) systems and now the
M2M (machine to machine) world.
• The Connected Enterprise
In the industrial sphere, the increase in companies’ available data For businesses, the main focus at present is to connect
will tremendously boost their ability to streamline processes and business assets. In the context of commerce, the idea is that
identify where issues occur at an earlier stage. As the scale of connected assets provide a real-time overview of product flow.
available data increases, implementation of prescriptive analytics Whatever means of asset tracking is implemented, gaining
becomes possible, allowing enterprises to be far more agile than real-time visibility over stock levels provides a platform from
previously during decision making processes. Companies that which to leverage further services, is the knot which ties the
offer analytics services will find new revenue streams opened up. product, the consumer and the service together. Although
investment will be required in order to transition from a manual-

Making connections or barcode-based tracking system, implementation of RFID or
If the value of the IoT lies predominantly in the enterprise sphere, similar in that regard, enables:
then how does this relate to the consumer? In the world of • A reduction in labour costs; the need to scan individual items by
commerce, a key driver behind future success will be brought about hand is no longer required;
by improvements in business process efficiency and an improved • Scanners set up at entry/exit points in-store ensure that ‘missed’
relationship with the consumer. In the latter case, this involves items using barcode or manual tracking are minimised.
leveraging the increase in connected consumers in conjunction
with connected business assets, as there can be seen below: Real-time stock information can be gathered and leveraged by
the analytics platform: knowing how many units remain and where
• The Connected Consumer they are located can be used to dynamically promote products,
The smartphone is undoubtedly the key to the connected consumer. adjust pricing and ensure that out-of-stock events are minimised.
The device is capable of communicating over numerous wireless Conversion rates will be increased. ➔
protocols, is always with the consumer wherever they may be,
and can supply valuable information such as location and context.
This is particularly valuable when considering proximal commerce;

Fitting it all together
Whether a merchant conducts business purely over online
platforms, or whether a physical store is combined with a digital
one, the principal aim for a merchant must be to improve the

Steffen Sorrell
shopper experience in order to improve conversion. A connected
Senior Analyst ecosystem must therefore be established to maximise this
Juniper Research potential:
About Steffen Sorrell: Steffen is a Senior Analyst

with Juniper Research. His area of focus includes
digital networks and enabling technologies, and
is particularly interested in the Internet of Things,
Contextual Awareness and Ambient Computing.
He has previous experience as an in-house FMCG
analyst.
About Juniper Research: Juniper Research is

acknowledged as the leading analyst house in the
digital commerce and fintech sector, delivering The backbone of this connected ecosystem will, however, be
pioneering research into payments, banking supported by analytics rather than by the devices themselves;
and financial services for more than a decade. the final stage of the journey is thus the creation of information
Market sizing and forecasting are the cornerstones from data. Success will rely on merchants’ ability to bridge
of our offering, together with competitive analysis, so-called ‘islands’ of data:
strategic assessment and business modelling. •In an online environment, what is the consumer looking for, and
when will they be using the product?
www.juniperresearch.com For example, a consumer in a physical store can see where and in
what conditions a jacket may be suitable, influencing the purchase
decision. This is not always possible for a consumer shopping
in a digital environment. Therefore, information that is available
in the physical world should equally be made available in digital
storefronts, where contexts over and above those provided by the
manufacturer are attached to products;
• In the physical world, what are the environmental variables and
the consumer’s context that may influence his or her decision at
Share this story that moment in time?
Factors such as the weather, nearby events and time of day may
be important in how communications (if any) are handled with the
consumer; the consumer’s demographic, past purchases and
other information should influence the merchant in this regard.

Edgar, Dunn & Company
Can You Digitalise a Pizza? Food Delivery Services Are Going Through an
Extraordinary Change
Two models have emerged in the last five years in the food delivery There are a number of different factors as to why these players
service market: (1) integrated ordering and delivery – serving have been so agile in capturing a growing market. Firstly,
mid to up-scale premium meals and (2) unbundled ordering and smartphones enable a new payment paradigm as well as fully
delivery – serving fast food and budget meals. Both models are personalised customer service. In addition, there has been a
serving different consumer needs and delivering in different ways. massive increase in the availability of widely accessible, globally
Still, both are using in-app payment solutions. What is common transparent data, coupled with a significant decrease in the cost
in both models is that a third-party handles the customer order of computing power. Allegedly, two iPhone 6s have more memory
and takes the payment. However, in the first model, the delivery is capacity than the International Space Station. Pre-dot-com boom,
fulfilled by the same third-party whereas, in the second model, the the first thing a start-up would do was to buy several computer
restaurant handles the delivery. Both models have seen and taken servers. Today, to gain processing power that can be quickly
advantage of a significant demographic shift in the same period. scaled, a start-up can launch and operate entirely within the cloud.
Today, millennials are considerably more open to relationships that
are focused on origination and sales, such as Airbnb, Booking.
com, Netflix, Uber. These organisations offer a personalised,
simple to use, frictionless payment with an emphasis on the
seamless or on-demand access to a rich customer experience
that is separate from the underlying provision of the service or
product. This is fundamental to this extraordinary change in food
delivery services.
Just Eat and Hungry House, UK-based online home delivery
marketplaces, are disrupting the food and beverage sector by These marketplaces are expanding and have very low capital
handling the order for the customer but the restaurant handles the investment in payment processing infrastructure which is typically
delivery to the customer’s home using its existing home delivery a SaaS-based solution for both payment processing and fraud
arrangements. Uber, the ride-hailing app that has already caused prevention. As these businesses expand internationally, the need
upheaval in the taxi industry, is aiming for a similar disruption in for alternative (and local) payment options becomes critical for
the food home delivery market by launching its UberEats app their success. This requires strong back-office omnichannel
in London and other big cities with an aggressive marketing payments support from carefully chosen and integrated payment
campaign and free introductory offers. service providers. EDC has a number of years of experience in
this by working with the world’s leading omnichannel retailers.
There have been millions of dollars invested and the level of

interest, attention, funding and competition is probably just about The scope of omnichannel payment continues to evolve; for
to peak before the end of 2016. According to CB Insights, the example, Apple has recently announced that it was deviating
food delivery start-ups have attracted over USD 609 million of from its heritage as a predominantly closed ecosystem. By opening
investment across 23 deals in Q1 2016! EDC believe we are about up Siri, Instant Messaging, and Maps to third-party developers,
to see consolidation in the food delivery marketplaces and there Apple is well on its way to disrupt its own operating proposition. ➔
will be fewer players by the end of 2017, but the winners are going
to do well in a growing market.

➔ We have already seen ‘Contextual Payments’ at Uber; when
the ride is over, you get out of the car and the payment is
already processed, the ultimate frictionless payment experience.
Voice, images and messenger apps are expected to allow for

Mark Beresford
frictionless payment, effectively blurring the lines between
Director the customer experience and the checkout. Apple, Amazon,
Edgar, Dunn & Company (EDC) Google and others are all unlocking opportunities for merchants
to seamlessly implement “one click” payment options for the
web/mobile web. Image-heavy social media websites like
Instagram, Pinterest, Snapchat, and Twitter have all integrating
About Mark Beresford: Mark is a Director at Edgar, payment using standardised open APIs. Similarly, Whatsapp,
Dunn & Company (EDC) and has over 20 years of Line, WeChat are all processing payments via their messenger
experience in the payments sector. He works on platforms.
strategic client engagements including major multi-

channel retailers and payment service providers Voice commands can also be parsed by new home devices such
across the globe. as Amazon Echo and Google Home. So, “Alexa: Order me one
Domino’s Pizza 12-inch medium feast pepperoni pizza.” could
About Edgar, Dunn & Company (EDC): Edgar, be heard in your home very soon. To take this one step further,
Dunn & Company (EDC) is an independent global look at 3D-Systems, a company that designs, manufactures and
financial services and payments consultancy. sells 3D printers, which announced in 2014 that it had started
Founded in 1978, the firm is widely recognised working with The Hershey Company, the largest chocolate
as the world's preeminent expert in the payments manufacturer in North America, to explore the potential of 3D
industry. EDC assists organisations in developing printed chocolate. Could this mean that chocolate stores will
and implementing strategies and capitalising on the go out of business? Conceivably, in the next 10 to 15 years, we
opportunities that change provides within financial could be printing a medium feast pepperoni pizza at home. Just
services. as we have seen Blockbusters, the DVD rental store, has gone
out of business as a result of video-on-demand services such as
www.edgardunn.com Netflix, are we to expect our streets empty of Deliveroo cyclists;
or perhaps our skies will not be full of delivery drones?
Whatever the future of food delivery services has for us, payment
acceptance will be integral to any omnichannel strategy.
Share this story

DHL eCommerce
DHL eCommerce provides international and domestic ecommerce services in various markets in the
Americas, Asia-Pacific and Middle East/ Africa, focusing on e-fulfillment, cross-border ecommerce
and last mile domestic B2C deliveries.
Could you explain to our readership DHL eCommerce Which cross-border markets do you target through
business model and regional coverage? the investment in US ecommerce deliveries?
DHL eCommerce provides inter national and domestic It is expected that one billion people will shop online and across
ecommerce services in various markets in the Americas, Asia- borders by 2020, with the US being the most popular origin for
Pacific and Middle East/ Africa. We focus on three core activities: 25% of consumers worldwide. With our investments, we lay
1. E-fulfilment, which is all about storage, pick and pack, kitting, the foundation to expand our role in cross-border ecommerce
flocking, etc, 2. Cross-border, connecting global sellers with logistics, serve our US customers with the best possible
global consumers, 3. Last Mile Domestic B2C Delivery. The infrastructure and solutions, and gain future market shares.
continued expansion of ecommerce logistics is an integral part
of Deutsche Post DHL’s corporate strategy. Asia-Pacific leads the way in buying and the US in selling.
According to a recent report from Accenture and AliResearch,
web shoppers in the Asia-Pacific region will account for 48% of

The rules of the game have cross-border online purchases in 2020 and their most popular
changed, consumers want shopping destination will be US websites.
choice, convenience and control.

Given DHL experience in global deliveries, could
More and more e-tailers are you recommend some best practices for a startup
realising that the real ‘win’ story entering this highly competitive industry?
is in providing a great delivery The rules of the game have changed, consumers want choice,
convenience and control. More and more e-tailers are realising

experience… that the real ‘win’ story is in providing a great delivery experience
and a great delivery experience builds customer loyalty and
brings the consumer back, time after time. As such, the best
Could you outline the main impediments surpassed advice I can provide any e-tailer reading this is to make sure
by the company with its recent investment in US? they work with the provider who can provide, domestically and
Deutsche Post DHL Group recently announced a USD 137 internationally, a broad product range, a global footprint and, of
million investment plan for the US domestic and cross-border course, a company that can fulfil consumer’s wants.
ecommerce market. The Group’s objective is to exploit the global
B2C ecommerce market for shipments crossing borders which is What is DHL eCommerce’s main advantage which
expected to grow from USD 400 billion today to a total global you think will help the company gain foothold in the
volume of USD 1 trillion in 2020. Since US online merchants local competitive market?
take the leading role in selling internationally, DHL eCommerce As part of Deutsche Post DHL Group, we are positioned to cover
will expand its capabilities to serve businesses selling abroad all parts of the ecommerce value chain. We are a global player
significantly. By collaborating with DHL Supply Chain we will with local expertise and, due to our customer-centric attitude,
increase the Groups’ order fulfilment capabilities in North we are capable to develop solutions customised to the needs of
America. Jointly, we will continue implementing regionalised the e-tailer, as well as the consumer. ➔
fulfilment centers as we did in Los Angeles, Columbus, Ohio,
and New Jersey.

What changes in the global ecommerce deliveries
would you foresee as disruptive by, say 2020?
This is a really fast moving industry and very hard to predict today,
let alone tomorrow, However, there are some trends to focus on.
Charles Brewer
Chief Executive Officer • The on-demand economy is booming

DHL eCommerce Only a few years ago, delivering in 5-10 days was completely
acceptable. Today, the consumer wants same-day, next day,
slotted time window delivery, choice-of-delivery options, choice-
of-day of delivery, cold, warm, now, tomorrow, with bells on (!) – It
About Charles Brewer: Charles Brewer is CEO of is hard to keep up, but what was once something that was once a
DHL eCommerce, a division of Deutsche Post DHL ‘nice to have’, today it is a ‘must have’.
Group, which he joined in 1984. In his role, he leads • The rules of the game no longer exist
a global team responsible for developing solutions Traditional brick-and-mortar retail is pretty much stagnant, whilst
that enable the eCommerce sector. global ecommerce continues to grow at 10%, reaching at USD 3
trillion by 2020. The changing game and the increasing demand
About DHL eCommerce: DHL eCommerce mean that e-tailers and logistics companies need to be agile,
integrates the Group’s international ecommerce innovative and incredibly customer-centric in order to stay in the
business in Asia and North and South America with race and win out over time.
a focus on emerging markets and key international • Choice, convenience and control
trade lanes. DHL eCommerce has also integrated E-tailers recognise more and more that the customer experience
Blue Dart in India into its business. and therefore their ability to build loyalty is won and lost in how
well the order is fulfiled and delivered. Consumers want to select
www.dhl.com/en.html how they receive their order (to door, parcel lockers, service
points, to trunk, etc, etc), where they receive it and what day
and time.
• Technology, Autonomous Vehicles and Robots
The “uberization" of our industry is driving us to look for new
innovative ways to deliver, new innovative and seamless
technologies to provide real-time visibility, new technologies
that take the guess-work out of order management and most
importantly provide unparalleled efficiencies. Whilst we are
doing that, we are also looking to test tomorrow’s technology,
like augmented glasses for greater pick accuracy or follow me /
autonomous vehicles. So, sit on down, buckle in and enjoy the
ride – it is going to be a great deal of FUN!
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Visit Our Enhanced Online
Company Profiles Database
All company profiles in the Online Payments Market Guide

are available online in an enhanced company profiles database,
complete with keywords, company logo
and advanced search functionality.
http://onlinepayments.thepaypers.com/
PSD2 and Impact on Payments
Ecosystem
First Data
PSD2 – A Call to Innovate
On October 8th, 2015, the European Parliament adopted the There are exemptions for Digital Wallet Providers and Pre-
European Commission (EC) proposal of the revised Directive on authorised Merchants which could provide real competitive
Payment Services (PSD2). PSD2 must be transposed into national advantage for those that qualify.
legislature by European (EU) member states no later than January
13th, 2018.The genesis of this regulation is the EC’s green paper, 3. Reduce consumer liability. A consumer’s maximum liability for
published in 2012, entitled “Towards an integrated European an unauthorised transaction is reduced from EUR 150 to EUR 50.
market for card, internet and mobile payments”. Commissioner
Margrethe Vestager, responsible for competition policy, said: 4. Prohibit surcharging on card payments. Surcharges must not
"We have already used EU competition rules to ensure that new be applied to any transaction that is accepted in accordance
and innovative players can compete for digital payment services with the European Union’s regulation on interchange fees for
alongside banks and other traditional providers... The new card-based payment transactions.
Directive will greatly benefit European consumers by making
it easier to shop online and enabling new services to enter the Disruption, transformation, innovation
market to manage their bank accounts ". PSD2 will undoubtedly herald a new era in the EU where the
payment account will become even more relevant at the expense
What does it mean? of the payment card. The EC want “secure, efficient, competitive
The key PSD2 regulatory requirements are as follows: and innovative electronic payments” and the prevailing view is that
1. G ive Third-Party Payment Providers (TPP’s) access to the card payment infrastructure which has been around since the
payment accounts. Banks must grant TPP’s access to a 1950’s is not frictionless enough to achieve this in isolation. PSD2
consumer’s payment accounts (XS2A). Two new types of TPP’s seeks to drive change by opening payment account access to
have been defined: allow consumers to benefit from more payment options which will
a) Account Information Service Providers (AISP) – AISP’s undoubtedly reduce costs and friction and enable the provision
offer online services which can provide a consolidated view of new value-added services such as account information
of a consumer’s payment accounts consolidation, data analytics, lending and others which have yet
b) P ayment Initiation Service Providers (PISP) - PISP’s to be conceived.
initiate payment transactions at the request of the consumer
from an account held by the consumer at another payment Incumbents and new players
service provider For incumbent members of the payments ecosystem, PSD2 is a
call to innovate or run the risk of revenue and market share erosion
2. Introduce Strong Customer Authentication (SCA). SCA is and disintermediation by incumbents elsewhere in the value chain
mandated for electronic payment transactions and requires or new players. The potential impact and opportunities open to
authentication by two or more factors. The factors are: each incumbent are identified below:
a) Knowledge (something only the user knows, i.e. a password)
b) P
ossession (something only the user possesses, i.e. a token Banks - face increased competition from AISPs and PISPs and
or mobile phone) loss in issuing revenue offset by cost reductions. Banks can
c) Inherence (something the user is, i.e. biometrics) monetise data made available via open APIs and can offer third-
party products and services or become a PISP or AISP. ➔
The European Banking Authority (EBA) must define the regulatory
technical standards for SCA in January 2017.

Card Schemes – face revenue and market share erosion.
Card schemes can diversify by becoming PISPs or AISPs.
MasterCard’s purchase of Vocalink and its rebranding is very
interesting in this context.

Peter O'Halloran
Vice President & General Manager, Merchants – will have more choice for payments which will
eCommerce, EMEA mean investment for enablement and potential conversion rate
First Data drop-off due to SCA. Merchants can become pre-authorised and
thereby exempt from SCA and can also embed bank account
payments into their in-app solutions and reduce cost and latency
About Peter O'Halloran: Peter O'Halloran joined and improve conversion.
First Data in 2013 and is Vice President and General

Manager, eCommerce, EMEA and Non-Executive Payment Processors – face increased competition from AISPs
Director of First Data Polska S.A. (Poland). Peter is and PISPs and the cost of enabling bank account payments but
also the Founder and Managing Director of Gestion can also become AISPs and PISPs.
Consultancy and a Collaborator with Fintech

Ireland. PSPs and Acquirers – face increased competition from AISPs
and PISPs, bear the cost of enabling bank account payments and
About First Data: First Data (NYSE: FDC) is a revenue & market share erosion but can also become AISPs and
global leader in commerce-enabling technology PISPs.
and solutions, serving approximately six million

business locations and 4,000 financial institutions The potential opportunities open to each new player are identified
in 118 countries around the world. The company’s below:
24,000 owner-associates are dedicated to helping AISPs – will be able to offer value-added services such as data
companies conduct daily commerce by securing aggregation, identity verification and data analytics.
and processing over 2,500 transactions per second

and USD 1.9 trillion yearly. PISPs – will be able to initiate payments without using the card
network thereby reducing the cost latency and friction.
www.firstdata.com
Conclusion
Through PSD2, the EC is creating an ecosystem for further
innovation and open competition of the payments industry in
the EU. The introduction of open APIs into the media, travel and
technology infrastructure industries led to widespread disruption

and the emergence of new players such as Netflix, Expedia
and Amazon Web Services, and this will undoubtedly occur in
Share this story the payments industry also. Innovation by incumbents and new
players alike in making payments more seamless for consumers,
creating new value-added services and making the process more
efficient and cost effective will determine the winners and losers in
this brave new world.

Worldline
What the PSD2 (Payment Services Directive 2) Is Changing for Merchants and
Their Customers
The introduction of PSD2 will probably encourage the deployment To use these new account-based services, the owner of the bank
of new account-based payment solutions (Payment Initiation account will have to be authenticated by the bank, as he is used
Service Provider) as an alternative to the traditional card-based to doing it when confirming an SCT (SEPA Credit Transfer) on
payment solutions. In this context, merchants will have to accept his online banking application. This user experience is quite easy
account-based payment methods at their web shops and at the and seamless in an online context, but may be more complex in
store. a proximity environment. Indeed, when the customer is at the till,
he will have to be authenticated by his bank, which will add a step
Some technical aspects, such as the strong customer authenti before the checkout. Therefore, the user experience is longer
cation and the way to access the bank account, have been detailed when a customer is expecting a quicker checkout and a friction
by the EBA RTS (European Banking Authority Regulatory Technical less payment process. The challenge here is to find the most
Standard) to define the scope and characteristics of the new optimised solution to offer both a secured and convenient user
account-based payment services. experience, whether on the web shop (on tablet, mobile or PC)
or in the proximity environment.
A lack of standardisation of bank interfaces for

payment initiation services How merchants can adapt to the changes brought
In these RTS, the EBA is not foreseeing standardisation of the by the PSD2
functionality and the interfaces that will be used to access At the moment, a payment initiation service can be considered as
the bank account. This means that there will not be a standard the execution of a simple SCT, meaning a transfer of an amount
technical interface for all banks, and that it is rather expected that from the customer bank account to the merchant bank account.
groups of banks will decide together to adopt some technical We can imagine that this service will be enriched with other
interfaces to give access to the bank accounts of their customers. value-added services as it is the case with card-based payment
Therefore, the multiplicity of these interface specificities will require solutions. For example, when the amount of the payment is not
additional processing from the PISPs to adapt their transactional known at the start of the transaction, like at a petrol filling
logic to the functional specificities of each bank or each group station, a deferred payment is processed when the right amount
of banks to deliver its account-based payment services. This will is eventually defined. Also, for subscriptions, there is a need to
naturally also lead to additional costs for a PISP to ensure a large process recurring payments needing an initial authentication and
reachability of banks. authorisation by the customer. Additional specific developments
are also required to adapt the account-based payment solutions
A right balance between security and user experience for reservations when an amount is blocked by the customer
needed at the authentication, and will be partly used or released at the

The RTS also defined requirements related to strong customer actual execution of the transaction. There are many use cases
authentication of the consumer by the bank. This will ensure a high that could expand the value of account-based payment, and
level of security for customers' data, including their payments Worldline may actively support merchants in the development of
information. It will give them confidence and encourage them such services. ➔
to use these new account-based payment services helping to
reach a significant adoption rate.

➔ At the acceptance level, whether online or at the shop,
merchants will have to accept the account-based payment.
Merchants have two ways to do that. Either they use account-
based payment methods developed by third party providers or

Pascal Durdu
they can develop their own counterpart. However, this second
Head of Business Strategy & Product approach is only possible for large merchants with an extensive
Management for Merchant Services
customer database, ensuring a quick return on investment.
Worldline
These large merchants have to choose the right service provider
to accompany them in these developments in terms of user
experience optimisation, connection to an extended bank
About Pascal Durdu: Pascal, working at Worldline network, regulatory compliance or fraud risk management.
since May 2015, recently became Head of Business For both cases, their payment devices and online acceptance
Strategy & Product Management for Merchant solution will need to be adapted to enable these account-
Services. Previous to Worldline, Pascal worked in based payment solutions supporting the possible adoption by
logistics, business development and innovation in customers.
companies like Procter & Gamble, Orange Group

and Proximus. In terms of processing, merchants need to rely on a platform
ensuring the connection to the different bank interfaces regardless
About Worldline: Worldline [Euronext: WLN] is the of their technical specifications and benefit from a larger
European leader and a major global player in the reachability of customers’ banks.
payments and transactional services industry.

Worldline contributes to provide seamless and To improve the user experience in the proximity environment,
innovative transactional experiences to the end while complying with the security standards of the PSD2, a
users. Worldline activities are organised around merchant mobile application for payment initiation service can be
three axes: Merchant Services & Terminals, Mobility developed to interact with the payment device or the electronic
& e-Transactional Services, Financial Processing & cash register to ease the customer authentication towards his
Software Licensing. bank. We can imagine that this application includes many other
services proposed by the merchants as a loyalty programme.
www.worldline.com
Relying on Worldline’s strong expertise in payments, merchants
can benefit from a better grasp of the complexity and opportunities
introduced by the PSD2 at different levels, and adapt easily and
with serenity to these new solutions.
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Consult Hyperion
Pushing PSD2 Push Payments
Twenty years ago, I was involved in some of the original fraud scenario that we blocked using EMV. Fraud rapidly migrated
work around smart cards in payments, first with the e-purse from face to face to online, as we skimmed our own cards for
scheme Mondex and then with some of the initial EMV card e-merchants to store. As the media releases frequently report,
implementations. Mondex, and the other e-purses at the time, merchants aren’t particularly good at managing the security of
eventually went the way of most technical solutions. Still, EMV these details. To combat this, the industry introduced PCI to raise
has oddly enough stayed the course of time because the e-purses the security practices of e-merchants, a fundamental good in its
were ideal payment methods for the fast growing ecommerce own right – many of the complaints about PCI miss the point that
while EMV doesn’t work in that environment without some doesn’t really require anything more than basic cyber security
external factors. measures – but it is, in overall card security terms, an activity
roughly equivalent to trying to stop the tide coming in. Software
EMV: the solution to an old problem systems are increasingly complex and attackers increasingly
EMV is built on the four party model, which was built to allow armed with sophisticated tools: meanwhile connecting everyone
any cardholder to contact any issuer, whoever and wherever to the internet simply allows criminals the opportunity to mount
those parties are. The model was a brilliant solution to the mass attacks in order to find the weakest links: I only need my
interoperability problem and used the only channel available – the card details stolen once to have lost control of them.
merchant – to give consumers access to the payment networks
connecting all of the parties together. In face to face payments, PSD2: strong authentication and push payments
it works well despite the peculiarity of the cardholder having to PSD2 introduces two methods to mitigate card not present fraud
give the merchant their payment details in order to contact their scenarios. Firstly, it mandates strong authentication based on
bank. We’re used to this that we don’t consider it odd but, if you two independent factors (something you know, possess and
stand back and think about it, it’s peculiar: we want to pay the inherent to yourself, like a fingerprint) for remote payments
merchant, not give them access to our payment details. cases. So, schemes such as 3D-Secure become essential to
ecommerce payments, although the exact way this will work is

The EMV development arose out of the fraud scenarios that arise still not clear. Secondly, it forces EEA-based banks to open up
in face to face situations. Card skimming at merchants, permitting push payment interfaces. A push payment reverses the way that
the cloning of cards for use elsewhere, is only the most obvious. the old card payment model works – instead of the consumer
Introducing EMV, with its underlying issuer authorisation and giving their payment details to the merchant, they provide the
cardholder verification methods, immediately reduced those merchant details to their issuing bank: strong authentication still
types of attacks. Before EMV, an attacker needed only pen and applies here, but the underlying model makes more sense in a
paper to write down the card details. But there’s no way for an pervasively connected world.
unsophisticated criminal to attack an EMV card as it requires

considerable technical expertise. Wherever and whenever EMV Hence, the merchant never sees my payment details; they
has been introduced, fraud has migrated elsewhere. simply redirect to my bank, which authenticates me and then
tells the merchant that it’s done so. This means that cardholder
Online risk management authentication is performed by the issuer – which already needs
However, blocking the fraud scenarios in face to face use to be able to do this anyway – and that the merchant doesn’t have
cases reintroduced them online. The rise of the internet-based to store cardholder details. In essence, the merchant handles
business led inexorably to the need to make payments, leading the retailing and the bank handles the payments, which puts the
to card not present transaction developments. Here, we present right functions in the right place, and ensures that the risks are
our card details to merchants – online equivalent of the offline distributed in a sensible manner. ➔

From pull to push
The pull payments model was invented before consumers could
access their banks online. Now, however, push payments make
much more sense as a payment method by reducing the risk of

Tim Richards
cardholder details being lost or stolen while ensuring that the
Principal Consultant issuer directly authenticates cardholders, rather than indirectly.
Consult Hyperion As the rise of the push-based iDEAL scheme has shown in the
Netherlands, providing half of ecommerce-based payments,
a properly designed push payments scheme will be popular
with consumers. PSD2 creates problems for banks, but it
About Tim Richards: Tim has over 25 years’ does offer two opportunities. Firstly, banks should become the
experience designing secure smart card solutions default place to use tokenisation to assure federated identity for
across payments, mobile, transit, identity, passport, specific attributes (e.g. proof of age, proof of nationality, proof of
healthcare and loyalty solutions covering both residence). Secondly, banks should know their customers, and
issuance and transaction processing. In his spare that allows profiling and targeted loyalty schemes.
time, he’s a psychologist specialising in the bizarre

things that people do in the presence of money. The irony is that e-purse schemes handled this two decades ago
before the lack of a suitable acceptance infrastructure caused
About Consult Hyperion: Consult Hyperion is an their demise. Still, with the rise of the Internet of Things, the need
independent consultancy. We hold a key position for micropayments and with push payment infrastructures, we
at the forefront of innovation and the future of may yet see that particular wheel reinvented.
transactions technology, identity and payments.

We are globally recognised as thought leaders and
experts in the areas of mobile, identity, contactless
and NFC payments, EMV and ticketing.
www.chyp.com
Share this story

Innopay
PSD2: Opportunities and Challenges for Payment Stakeholders
Banks and other service providers operating in the payments payment transactions above EUR 10) introduced in the draft RTS,
market have approximately 14 months to prepare for the revised can cause inconvenience to consumers, impeding seamless, one-
Payment Service Directive (PSD2). PSD2 will cause a revolution click checkout experiences (cf. Amazon, Apple, UBER) for online
in banking and payments, with third party provider (TPP) ‘Access shopping/payments and innovative banking services.
to account’ (XS2A) as game changing accelerator of digital
transformation. While the exact security ‘principles’ for XS2A Business payers
are still under development in the draft Regulatory Technical PSD2 and the RTS in particular will affect SME business payers
Standards (RTS) on strong customer authentication (SCA) and the most since larger corporates often have dedicated connec
secure communication (final draft expected in Jan. ‘17), it is clear tions from their ERP systems to their banks, already providing
that PSD2 is more than ‘yet another’ compliance project. PSD2 the insights and capabilities PSD2 sets out to open up. For SMEs
will bring opportunities and challenges for payment stakeholders (especially smaller ones), at minimum, the same benefits come
as presented in figure 1. The main focus of this article is on what available as for consumers. Additionally, SMEs will benefit from
PSD2 means for payers, payees and their service providers. more and better integration between their payment accounts
and ERP/accounting software systems, through use of payment
Consumer payers initiation and account information services. From an SME and
Consumers benefit from more choice to initiate electronic pay corporate perspective, the fragmentation risk seems to be of
ments directly from their payment account (especially for mobile/ a different nature, since well-known ERP/accounting software
web e-commerce), as TPPs will drive competition and innovation. providers will provide said services. The same holds for the
Consumers will also obtain more control over their financial expected inconvenience resulting from SCA. In business environ
assets, as they can share information with a TPP of choice. This ments, SCA will fit better with the more formal processes that are
information can be used (with consent) to provide a holistic financial already common practice today.
view and streamline other online processes (e.g. credit card or
loan applications). However, fragmentation looms obscuring Merchants (payees)

the consumer’s judgment of ‘good and bad’ TPPs. Furthermore, Merchants benefit from more options to collect payments
stringent security requirements (i.e. SCA for all remote electronic from Consumer and Business payers. The fact that TPPs have ➔
Figure 1: Opportunities and challenges of PSD2 for different payment stakeholders

➔ contract-free (and thus fee-free) access to the payer’s payments
account, results in a cost advantage over payment methods based
on interchange fees. However, SCA could negatively influence
conversion rates for merchants. Once the RTS in its existing

Vincent Jansen Mounaim Cortet
form is in place, merchants are not allowed to take on risk and
Principal Manager Strategy accept liability for transactions that are not strongly authenticated.
Innopay Innopay Today, this is common practice in cards payments. Under the
conditions of the draft RTS, (card) issuers must decline every
transaction above EUR 10 without SCA, hampering seamless
checkout experiences that we are used to today.
About Vincent Jansen: Vincent (1974), Principal at

Innopay, is a passionate collaborative innovator with What can the market do to help their customers?
extensive experience creating networked products Banks will need to make a strategic decision on the role and value
in complex, multi-stakeholder environments. they want to provide to their customers. They should either serve
their customers with best in class services or enable others to do
About Mounaim Cortet: Mounaim, Manager Strategy so. In any case, banks should open up to allow a more integrated
at Innopay, is working on strategic and innovation service offering in which they act as the trusted ‘custodian’ of
challenges in payments and digital identity. financial assets and data on behalf of the customer when he
interacts with TPPs. PSPs can offer merchants a ‘one-stop-shop’,
About Innopay: Innopay is an independent aggregating TPP offerings as they do today with other payment
consulting company specialised in online payments, methods. PSPs and acquirers can further support merchants
digital identity and e-business. We help our clients, by expanding their product portfolio with account information
including financial institutions, governments and services and authentication services. The biggest opportunity
corporates, to develop the compelling strategies for existing service providers (Banks and PSPs) and newcomers
and digital services for consumers and companies (TPPs) may reside in creating new payment services to mitigate
that are key for successful competition in a rapidly the negative impact on user experience as a result of SCA.
digitising world. These services could be based on eMandate and SEPA Direct
Debit to enable seamless, recurring payments.
www.innopay.com
Conclusion
PSD2, and XS2A in particular, are accelerating change in payments,
innovative banking applications and respective business models
by leveraging account information. Despite the ‘push’ of PSD2
to trigger innovation, existing business models are seriously
threatened by more stringent EU regulation on data protection
and SCA. As a result, incumbents and new entrants operating
Share this story in the payments value chain alike have to carefully (re-)consider
their competitive position and business model. The service
provider that manages to be innovative and able to win the trust of
customers, will have a good starting point to win in the PSD2 era.

PaymentCounsel
Payment Services Directive 2: Goodbye to Home Country Shopping?
Many factors must be considered when determining home of licence applications. In 2015, over 75% of total issued
countries and where to obtain financial services licences: E-Money in Europe originated from E-Money Institutions based
speed of licence application, tax benefits, talent pool, AML in Luxembourg. However, are these companies actually carrying
requirements, etc. Now, a new factor must be added into the mix out part of their payment services in Luxembourg? Looking
– where will the payment services business be provided? at payment transactions, Luxembourg scores low compared
to the rest of Europe. In 2015, Luxembourg represented less
Article 11 paragraph 3 of PSD2 stipulates: “A payment institution than 0.7% (a small increase compared to 2014 – 0.68%) of
which, under the national law of its home Member State is total European Direct Debit transactions and a little more than
required to have a registered office, shall have its head office 2% (a small decrease compared to 2014 – 2.14%) of total
in the same Member State as its registered office and shall card transactions. Of the 28 member states, nearly 18 (for DD)
carry out at least part of its payment service business there.” and 24 (for cards) score higher than Luxembourg. With this
The underlining indicates a new addition to this article compared middle-to-low range position, will this share still be sufficient
to PSD1, adding a turnover element to the local establishment for Luxembourg to maintain its attractiveness? Other attractive
conditions. The European legislator clarifies that this addition home countries (the UK, Malta, the Netherlands) rank higher in
is intended to avoid abuses of the right of establishment, the the processing volume cut. Using a payment volume threshold
so-called home country shopping. to establish whether payment services business is in fact carried
out in a home country will clearly be detrimental to Luxembourg.
Many companies have strategically deployed home country What other criteria might member states use in establishing
shopping, exploiting differences in interpretations and imple whether payment services business is being conducted in their
mentation of local financial services rules and knowing that country?
some local regulators grant licences much more quickly. It will
be interesting to see if this new requirement results in currently 2. Local interpretations – hard or soft criteria?
favoured jurisdictions being dropped from the potential home However, we should first determine when payment services are
country list. carried out in a country, before looking at the “at least part of it”
criteria. Here again, the EU does not determine when a company
Unfortunately, the European legislator does not further define is conducting payment service business, leaving this open for
“at least part of…”, leaving it up to local supervisors to set the local interpretation. Member states apply different tests, based
criteria and leaving local authorities free to pursue their own on “characteristic performance” or “solicitation”.
political agendas. Countries wishing to welcome more financial
institutions will set the bar much lower than countries that 2.1. Characteristic performance test: To determine where the
prefer a concentrated market. What factors might determine activity was carried out, the place of provision (the “characteristic
whether this condition is fulfilled? Will the criteria be hard and performance” of the service, e.g. the essential supply for which
quantitative, a percentage of the total processing/issued volume payment is due) must be determined, according to the European
(paragraph 1), or softer and qualitative, such as those currently Commission. The UK FCA Handbook, for example, stipulates:
used by member states when determining whether a company “In determining, for the purposes of notification, whether
is carrying out payment services in that country (paragraph 2)? a service is to be provided ‘within’ another EEA State, it is
necessary to determine the place of supply of the service.” ➔
1. Will Luxembourg still be attractive?

Luxembourg has become a top pick for many (mostly E-Money)
institutions due to their openness to technology and the speed

2.2. Solicitation Test: Some EEA States apply a solicitation
test (does the consumer or the provider initiate the business
relationship?). If the provider, payment services are carried out
in that country. This is the approach of, for instance, the Dutch
Nadja van der Veer
Central Bank, which considers the following factors (alone or
Co-Founder combined) as indicating that payment services are conducted in
PaymentCounsel the Netherlands: establishing legal relationships with or directly
addressing local inhabitants, using the Dutch language and
referring to local legislation, contacts or the tax system.
About Nadja van der Veer: Nadja is Co-Founder of 3. The future?

PaymentCounsel and a payments lawyer with nearly It will be interesting to see whether either of these tests will be
a decade of in-house experience in and passion used for new article 11 paragraph 3 of PSD2. For the sake of
for the international payments industry. She has consistency and legal certainty, it would be good if member
worked for a global PSP and a European acquirer states do not apply hard criteria, setting a threshold related
and has valuable insights into the operations of to volume. What about country expansion or a local payment
payment companies. method supplier terminating the relationship? Both scenarios
directly result in different processing volumes per country
About PaymentCounsel: PaymentCounsel provides (and different percentages compared to total volume), making
a breadth of services to companies spanning the it impossible to manage. Soft criteria would be preferable.
payments value chain. PaymentCounsel brings a But, if this approach is taken, all member states should apply the
business-focused and practical approach to get same test (either characteristic performance or solicitation) to
fast and meaningful results. avoid (legal) uncertainty and create harmonisation. This choice
should be made at EU level, not left open for local interpretation
www.paymentcounsel.com and potential abuse. As PSD2 addresses the current misuse of
the scope exclusions (commercial agent and limited network) in
PSD1, perhaps we first need to see how local legislators and
markets respond to this new requirement and then have it sorted
out by PSD3.
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Money20/20 Europe
is back 26-28 June 2017
8VHWKHFRGH
PAYPERS2017
WRVDYHƂRQ(XURSHŗVODUJHVW)LQ7HFKHYHQW
26-28 JUNE 2017

money2020europe.com COPENHAGEN
Optimising Payments
Be2bill
Simplify Your Payments with a Tailor-Made Strategy
Adopting collaborative approach to take the best Tackling fraud with a smart 3D Secure policy
from our experts The 3D Secure (3DS), the cardholder authentication standard
More than 60% of buyers abandon their transaction in case of developed by Visa/MasterCard networks, reinforces transaction
payment issue. At the same time, almost 30% of Internet users security and mitigates fraud. Although consumers are familiar
stop their purchase on the checkout page. These figures prove with this process, in some countries, this additional stage in the
that payment is the last and most valuable stage in the purchase purchase funnel negatively impacts conversion.
funnel, the point when you seal the deal. That’s why it is mandatory
to implement a conversion strategy at the payment stage. In order to get the best ratio between fraud prevention and
conversion, Be2bill developed the Smart 3DS. What is it? It is a
To define the most efficient strategy, we help merchants to sophisticated rules engine combining banking and merchant data.
investigate losses in the purchase funnel. Conducting cross-data It enables transaction analysis on selected products, geolocation
analysis enables identification of the many reasons that can be controls, velocity check on customer’s account or card, etc.
involved, such as: At the end, this solution prevents you from bothering your non-
• ergonomics of the website/mobile app; risky customers. The merchant has full visibility and control on the
• payment methods offered to consumers vs countries covered; application of the smart 3DS. Be2bill fraud experts monitor and
• frauds history and detected patterns; adjust Smart 3D Secure anytime according to the seasonality
• technical complexity of the payment chain; of merchants and also evolutions of fraud patterns.
• reporting & reconciliation system efficiency.
Leverage your international growth thanks to a

Thanks to this detailed audit phase, we can define the best consistent payment strategy
functionalities the merchant has to set up to solve its specific
problems. Sweden:
PAYMENT METHODS IN Klarna, Visa/MasterCard, EFT
EUROPE
Poland:
Przelewy24, Visa/
MasterCard, PayPal
United Kingdom:
Beyond data management, another important point is persona Visa/MasterCard, PayPal,
American Express
Netherlands:
Visa/MasterCard, iDEAL,
PayPal, Klarna
Belgium:
lised support; Be2bill dedicates a Payment Manager to ensure Bancontact, Visa/
click to enlarge
MasterCard, direct debit Germany:
(SDD) Visa/MasterCard, PayPal,
Klarna, Sofort, Giropay, EFT
customer success thanks to an efficient daily support. As the France:

Bank card, Visa/MasterCard, Austria:
PayPal, American Express Visa/MasterCard, PayPal,
Klarna, Sofort, Giropay, EFT
linchpin between the merchant’s team and our experts, he is the Portugal
ATM (Multibanco), Visa/ Switzerland:
MasterCard, EFT Visa/MasterCard, PayPal,
Sofort
single point of contact, from implementation to the continuous Spain:

Visa/MasterCard, PayPal
Italy:
Visa/MasterCard, EFT, cash
on delivery
optimisation of payment performance.
For Alexandre Langhade, co-founder of Locasun.fr (a holiday Each country has its own payment methods and practices.
rentals website), the Be2bill support on the daily payment Depending on their targeted countries, merchants should adapt
management has brought a breath of fresh air: “Our teams to customers’ preferences and habits. Be2bill fully operates on a
focus on their job first, and monitor payments through unique international platform, with 15 payment methods in more
enriched KPI on conversion and risks. We team up with than 70 currencies through 180 countries. ➔
Be2bill, in order to better steer on business!”

This collaborative approach, together with an in-depth data
analysis, allow us to perfectly customise our service to each
client.

➔ At Made.com (an online furniture retailer), the international
expansion towards 3 different markets has been driven by specific
goals for each country:
• in Italy: reduce the fraud rate to less than 0.1% and increase
Thibaut Faurès Fustel de Coulanges
the acceptance rate above 95%;
CEO • in France: boost optimisation of the acceptance rate up to 93%
Be2bill thanks to our direct connection with Carte Bancaire scheme;
• in UK: outperform by 10 points the average acceptance rate.
Be2bill centrally manages all payment operations and delivers
About Thibaut Faurès Fustel de Coulanges: After multi-level reporting that has helped Made.com country
a long career in Banking and Marketing Services, managers to do their job while global payment team has the
Thibaut launched Be2bill in 2012. Be2bill has a full view on what happens.
strong growth and now processes more than EUR

2 billion for 2,500 merchants in all sectors (Retail, Design your customer journeys with a unique
Travel, Gaming, Gambling, etc). Since March 2016, payment platform
Thibaut has been CEO of Dalenys. The most important pillar of an effective payment strategy consists
of creating a seamless user experience through all channels.
About Be2bill: Be2bill is a card payment solution Indeed, nowadays, hyper-connected customers expect to be
by Dalenys, authorised as Payment Institution by recognised regardless of their journey.
Banque de France and associate member of GIE

Cartes Bancaires. As an acquiring bank, a PSP Between in-store terminals, mobile POS, apps and ecommerce
and a business expert, Be2bill is helping Tier websites, most of the retailers are still forced to operate a vertical
1 merchants in their omnichannel strategy by approach. Therefore, it’s a mess for them to consolidate data and
increasing conversion rates while preventing fraud most brands cannot recognise their customers from online shop
more efficiently. to their stores. Be2bill controls the entire payment chain and
facilitates the setup of innovative customer journeys, such
www.be2bill.com/en/ as Queue Boosting, Smart Checkout, Store-to-Web, Web-
to-Store, Click & Collect. In a nutshell, the reconciliation of
online and offline data enables to respond to customers’
expectations and increase conversion rate.
“We’re proud at Be2bill to help retailers, travel companies and any
merchants to focus on their business by removing all payment

acceptance pain points. Thanks to our unique and centralised
platform for all channels, we manage payment from acceptance
Share this story to settlement on any bank account for more than 2,500 merchants
across Europe such as lastminute.com, Oscaro, Burger King, Quick,
Made.com, Interflora, Pixmania.com, Boulanger, Kiwi.com…”

Ingenico ePayments
Nine Ways to Optimise Your Payment Pages and Boost Conversion
Generating traffic is a big focus for many online businesses, but it Designing for mobile-first means you start with the mobile
is what you do with that traffic that ultimately determines success experience rather than scaling down from a full-size desktop
or failure. To that end, Conversion Rate Optimisation (CRO) – the experience.
art of moving visitors through the sales funnel all the way to the
closing of a sale – has grown into a serious industry. At Ingenico, 4. Offer local payment methods
we specialise in the narrowest part of the funnel, the payment Localisation is absolutely key to conversion. Up to 59% of users
process. As the last step in the conversion funnel, this is still a do not finalise their orders when they do not find their preferred
bottleneck for many online businesses. In fact, almost half of all payment methods. Cumulatively, credit cards still dominate
cart abandonments occur at the payment stage. Optimise this global online e-payments, but in many international markets,
step and you widen the funnel, boost conversion, and drive sales. local alternative payments options represent a greater share of
Here, we present nine tips and tricks to optimise the process. the market. Identify where your customers are coming from and
offer the payment methods they prefer.
1. Provide trust
Trust is a key driver of conversion, and fear of fraud is one of 5. Avoid too much choice
the biggest obstacles to online success. If consumers feel they More is not always better though! Too much choice can lead
might be scammed, they will drop out. So, ask yourself – does to paralysis and cannibalisation. The key is not offering an
the URL of your payment page include your company name? overwhelming list, but offering the right payment methods in
Is the page designed to match your overall look and feel? Does it each market and for each target audience. In practice, the best
show your logo? Your payment checkout should reflect your approach is to implement a context-based payment method mix
brand values, as well as project security. for your visitors
2. Request less data 6. Localise check-out

Many checkout pages ask consumers to create an account, or Translation is key to offering a localised experience to consumers.
ask for information that is not essential to the purchase. The more But many online businesses forget or neglect to translate their
information you ask for, the more likely consumers are to drop checkout pages. This is particularly important when these pages
out of the checkout process. This is particularly true for mobile are hosted by a third party, such as a Payment Service Provider.
consumers who need to enter data by touch on a small screen. In that case, the redirection to a different page in a different
An optimised, seamless checkout experience requires only the language can cause confusion and doubt, leading to a higher
minimum necessary information and supports return purchases drop-off.
by applying tokenisation to enable one-click payments.
7. Accept local currency

3. Optimise for mobile In addition to translating your checkout page, offer your customers
Mobile traffic is quickly overtaking traditional desktop traffic, but support to pay in their own currency to remove a lot of uncertainty
many online businesses struggle to convert it at the same rate from the process. No longer do your customers have to calculate
as they do for desktop traffic. In fact, conversion rates for mobile themselves what the actual price in their own currency is, or be
phones are up to 70% lower than for traditional devices. This is unpleasantly surprised if it turns out to be higher than they had
because many checkout pages are not optimised for mobile anticipated. ➔
devices. The unique characteristics of a mobile device – small
screen, touch interface etc. – mean that a ‘normal’ checkout page
is just not very useable.

8. Detect invalid card numbers
Credit cards still account for the majority of online payments, but
the process of entering card data is far from ideal, especially on
a mobile device. Invalid card numbers account for up to 5% of

Elie Casamitjana
aborted orders in some instances. If your checkout page is able
Global Lead, Offering & Go-To-Market to detect when a consumer inserts an invalid card number and
Ingenico ePayments automatically prompts the consumer to re-enter the data, that
consumer is much more likely to complete the purchase.
9. Tokenise for one-click payments

About Elie Casamitjana: Elie Casamitjana joined Making a sale is great, but building long lasting relationships
Ingenico in 2012, and currently leads the ePayments and getting return business is where business success is made.
Product Offering. He works closely with customers New technologies such as tokenisation enable you to offer simple,
and product teams to deliver great payment & fraud one-click payments once an initial token is created. The fact
products as well as outstanding user experiences for that tokenisation also increases security and reduces your PCI
both online businesses and online consumers. compliance requirements is a nice added benefit!
About Ingenico ePayments: Ingenico ePayments If you can already tick all the nine boxes above, well done! But if
is the online and mobile commerce division of some of these are not yet implemented, I hope the above insights
Ingenico Group. We connect merchants and will help you drive up conversion and increase client satisfaction.
consumers, enabling businesses everywhere to By the way, CRO is not a ‘one off’ exercise but rather a continuous
go further beyond today’s boundaries, creating stream of optimisation that will also be fed by evolving client
the future of global commerce. We are the trusted expectations.
partner of over 65,000 small and large merchants

who rely on us to make payments easy and secure
for their customers.
www.ingenico.com/epayments
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ONPEX
Cutting-Edge Technology Helps PSPs Optimize Processes and Portfolio
The importance of Alternative Payment Methods (APM) is on the In such a situation, it is important to make the right decisions, as
rise. Consumers from all over the world look for secure, fast and the financial stability of a business can be challenged by the high
convenient alternatives to card payments. The development of a expenditures and unforeseeable returns they entail.
range of payment methods that suits every requirement on the
global market and meets the demands of both buyers and sellers The best option in this case is a solution that offers access to
is certainly not slowing down. Most of the payment methods are many APMs from all over the world to be switched on and off
by now optimised for smartphone use, which supports speed with a single click. This enables PSPs to present a personalised
and ease of payment. This has, of course, many pros – chief offer to all customers – without the expenditure of integrating and
among them the fact that the evolution process will probably negotiating with all APMs that a specific customer may ask for.
leave the best and most widely accepted payment methods Such a solution makes a global range of payment options and
on the market. A downside felt by any payment professional is, easy-to-handle merchant accounts accessible through a single
however, that in order to find the best payment methods, there API. It helps PSPs reduce their expenditure for these resources
can be a lot of trial and error – and they are at the forefront of it. and enables them to focus on interacting with their customers
and growing their business.
PSPs looking to support merchants to meet the requirements of
their customer base are hard put to stay ahead of the market Reconciliation can be automated
and to offer the most important APMs. The integration with each One of the most stubborn issues that challenges the payment
new method is a time and resource consuming process that is industry, and most notably impacts PSPs, is the lack of automated
not only a technological challenge. It also demands a careful reconciliation. How to bring together payment and banking
consideration as to which APMs will become essential portfolio transactions is a question of great importance that has not been
staples and which ones lack the potential for a long partnership. solved yet. At the moment, PSPs are investing considerable effort
and money in solutions that can only yield less-than-perfect
Such decisions cannot be taken lightly, as they can have a huge outcomes, because it seems not yet possible to automatically
impact on the future of a PSP. Therefore, any PSP has to analyse create a detailed report for any customer, APM, and bank
the technological setup of a new payment method to make sure account with a single click. Such reports would not only make
it is future-proof and to consider its usability and reputation, it easy to keep an exact, real-time overview of any account, but
which influence the APMs potential popularity on a national, also to automate billing and commission calculations even with
regional and even a global level. In addition to that, PSPs have to complicated financial models. A solution for the matter is not
make sure that a new APM meets the regulatory requirements of easy, as it would have to access every single payment account
any region that it is set up to be used in. that a PSP sets up for a customer, but also to be able to track the
banking processes of the merchants. This is more complicated

Does meeting all requirements mean a lot of effort? than it appears at first sight, as it requires access to the SEPA
PSD2, for instance, will have a powerful impact on APMs and SWIFT networks as well as highly advanced technology. ➔
used across Europe. As it stipulates the use of two-factor
authentication, several established payment methods will have
to rethink their technological makeup. This forces PSPs to
reconsider their portfolio, too, and to view all future co-operations
from a new angle. It is also likely that new solutions will have to
be integrated very quickly to keep the portfolio up to date.

One solution to drive the payments ecosystem
ONPEX is uniquely positioned to support PSPs in meeting the
above challenges head-on. The sophisticated, modular software
suite was developed to meet all requirements of a constantly

Thomas Pietsch
evolving payments ecosystem. Through it, PSPs can provide a
Business Operations, Project Management and global range of payment methods and add and remove them
Compliance specialist from their range with a single click. All APMs become accessible
ONPEX with one customisable API, which eliminates high investments in
new connections.
About Thomas Pietsch: Thomas is a Business In addition to that, ONPEX is a Luxembourg-regulated Financial
Operations, Project Management and Compliance Institution connected to the SEPA and SWIFT rails. This makes
specialist with an international market and product it possible to open bank accounts and map accounts from other
development background. He has decades banks into them. These features form the basis for automated
of experience with finance giants such as reconciliation and billing processes that are easily manageable
Commerzbank, CBS (Deutsche Telekom), and and can include extremely complicated billing and commission
Western Union and with startups like Luup and models. Together with other features like fraud management,
Yapital. these solutions enable PSPs to focus on their core business and
to focus on building and expanding their global customer base.
About ONPEX: ONPEX is a Luxembourg-regulated

Financial Institution and SWIFT member operating
a PCI-compliant payment platform. The white-label
SaaS solutions meet the highest requirements
for payment gateways and banking. They include
acquiring for cards and APMs, payment accounts
with individual IBANs, and advanced cash
management. More information on onpex.com
www.onpex.com
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Payment Innovations
Secure Trading
The Future of e-Money
e-Money, the digital equivalent to cash, is a concept that has Forces moving against e-money
created a great deal of disruption in financial services. Today, it However, with competition comes confrontation, and behind the
is at a crossroads in its history. Down one path, it could continue scenes the battle lines between e-money issuers and traditional
on its growth trajectory and further pave the way for payments financial institutions are being drawn even deeper. In response
products that are in direct competition with the traditional to unwanted industry disruption, banks and card schemes are
payments framework. On the other hand, the ever increasing arguably looking to maintain their dominance through regulation
weight of regulation and governance being stacked against it and restriction.
could stop its progress in its tracks.
On the one hand, roadblocks are being created by barring
The rise of e-money e-money institutions from accessing core banking functions and
From its inception in 1997, e-money has had the potential to be data, knowing that further access would cause further disruption.
a game-changer by enabling companies to use technology to On the other hand, there is an increasing amount of anti-money
completely bypass the banks and break into a conservative and laundering requirements and general governance of payment
closed-off financial services industry. The concept really began services outside traditional banking systems. This slows down
to be put into practice with the EU Electronic Money Directive e-money providers who are struggling to stay compliant and,
of 2000, which created a legal foundation to passport e-money in the process, it halts any progress they could be making in
issuing in Europe. This law is still without real counterpart in the changing the payments industry.
world and, as a result, Europe became a hotbed of e-money
innovation – with services from PayPal, TransferWise and Skrill The future of e-money
being built on top of this unprecedented legal framework. Where there was no substantial regulation between the first EU
Electronic Money Directive of 2000 and the second in 2009,
E-money quickly began to act as a catalyst for some of the current regulations that have dramatic implications on e-money
biggest changes we have seen in payments in the last century, companies come thick and fast.
from London’s Oyster Card, to the encroachment of the largest
technology players into payments, with products such as The fourth Anti-Money Laundering (AML) Directive, for example,
Samsung Pay. will have very real implications for e-money institutions when it
comes (likely) into effect in 2017. The new AML rules will require
In recent years, the number of e-money institutions has increased, issuers to undertake far greater customer due diligence in order
and the services and applications have become ever more diverse to stay compliant. Not only will this slow e-money institutions
– from pre-paid cards, to online payment accounts and mobile down, with more compliance to work through, but it could also
payment systems. Recent research has shown that the number put them at risk of being cut off by their own bank accounts, now
of e-money providers registered in the UK with the Financial operating a “know your customers-customer” practice. ➔
Conduct Authority (FCA) has more than doubled since 2013.
Even many cryptocurrency developers have become e-money
institutions, as it provides a structured governance framework.

➔ Regulations such as this raise big questions for the sustaina
bility of the e-money model. Being built upon the foundation that
customers can use services without going through the same
arduous processes they have to partake in to get a bank account,

Jens Bader
will e-money services lose their edge if they are forced to be
Chief Commercial Officer compliant to the same or even more stringent regulations than
Secure Trading traditional payment providers?
By putting tighter caps on how much value e-money products
can hold, besides increasing KYC regulation, innovative payment
About Jens Bader: Jens has over 15 years of entrepreneurs must be asking themselves whether it would
experience in the online and mobile payments simply be easier to go down the route of becoming a payments
industry. He is a frequent speaker on payments, institution. In fact, becoming a fully licenced payments institution,
innovation and fraud-related topics worldwide. As rather than an e-money institution, could become an increasingly
Chief Commercial Officer at Secure Trading he is attractive option thanks to the revised Directive on Payment
responsible for the Company’s overall strategy. Services (PSD2).
About Secure Trading: Headquartered in the UK, Due to go live in January 2018, the ground-breaking feature of
US and Malta, Secure Trading is an integrated PSD2 is that it will require banks to securely open access to
payments services company - a single point of customers’ account data to third party payments providers,
contact for card acquiring, payment processing allowing them to build financial services on top of the banks’
and PCI compliance and cyber security services. data structure through an obligatory application programming
Established in 1997, Secure Trading’s specialist interface (API). Ultimately, licenced payment institutions will
service helps businesses of all sizes across a whole be given access to key information – from transaction data to
spectrum of industries achieve success online. account balances – at a time when the amount of information
e-money institutions can access is being reduced.
www.securetrading.com
Whether we will see the number of registered payment institutions
dramatically rise while e-money institutions slowly become extinct
remains to be seen. However, as an industry, we have to ask
ourselves whether we are suffocating e-money innovations with
regulation. Is there still an application for e-money institutions?
And, by stifling them, are we cutting off products that customers
still want and which could benefit the industry as a whole?

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Emerging Payments Association
Taking the Pulse of the Industry
Which payment technologies are best positioned to

support customer engagement?
First of all, we must set the record straight. Whilst there are many
interesting technologies that can support customer engagement,
the application of technology of and by itself will not support
customer engagement. This is a mistake that many incumbent
financial services organisations make time and time again. We can
of course mention Big Data, Machine Learning and Artificial
Intelligence in many of its forms, Predictive Analytics, Open
Source Intelligence (OSINT), IoT, Social Media, biometrics, hyper-
connectivity and many others, all applicable to payments as well However, according to the report, only 15.9% of consumers are
as many other fields. BUT, and this is a big BUT, successful likely to buy more products from their primary bank, and only
customer engagement requires a culture that supports it. 38.4% would refer others to their primary bank, which means
that this improvement is not accountable for profitable customer
behaviour. This is rather symptomatic of a much deeper rooted

Successful customer engagement issue: the culture of incumbent/traditional financial services
requires a culture that supports it. organisation still focuses on products rather than putting
customers at the centre. And that is not due to lack of trying:
many people already know that most of these organisations have
Whilst a couple of years ago, as highlighted below in the IBM/ digital transformation programmes that have been in existence for
Ebiquity Report, businesses were paying less attention to many years, which were trying to address the environmental (e.g.
customer service: shrinking margins, increased regulations, cybercrime and fintech
disruption) and organisational (e.g. legacy systems, customer

service, governance and lack of skills) challenges they face.
Apps and the cloud are shaping the future of the

payment ecosystem. Which key trends are leading
the way towards innovation?
Apps and the cloud are only a part of what is shaping the future
of the payments ecosystem. The evolution of technology, the
changing demographics that are, in turn, creating new behaviours

and new markets, the socio-economic context, as well as the
regulatory landscape, are all contributing factors to this evolution.
the situation has slightly improved between 2015 and 2016, as The main trends are driven by the aim to try and understand
highlighted in the World Banking Report 2016 by Cap Gemini/ customers better, with varying degrees of success, as we have
EFMA: seen before. ➔

➔ In addition, given that the ecosystem, driven by the advances
in technology and the agility of new entrants in taking advantage
of them, is even more swamped with data on consumers, another
key trend is to find ways to protect that very data from criminals.
Neira Jones
Advisory Board Member & Ambassador Fintech revolution versus security innovation – how
Emerging Payments Association can fintech companies help banks address security
challenges?
First of all, I will make the controversial statement that fintech
is not a “revolution”, more of an “evolution”. In fact, innovation
About Neira Jones: Neira is a Non-Executive Director does not happen in isolation (fintechs almost always reuse
for cybersecurity firm Cognosec and Chairman for existing infrastructure and technology) and it does not happen
payments innovator Comcarde. She also chairs by discarding current technologies and reinventing the wheel.
the Advisory Board for mobile innovator Ensygnia, Secondly, whilst some fintech organisations can help banks
partner for the international Global Cyber Alliance address fraud and security challenges, I think that collaboration
and Advisor and Ambassador for the Emerging will be key and that banks can also help fintech organisations
Payments Association. with fraud and security solutions (after all, they have been doing
it for a very long time). Conversely, fintech firms can undeniably
About Emerging Payments Association: The help banks become closer to their customers and help them
Emerging Payments Association brings together transition from a product centric to a customer centric strategy.
companies across the emerging payments

spectrum to help shape the future of the payments In the 2015 edition of our Guide, you mentioned
industry landscape. Our vision is to make the UK a that commentators kept wondering who will be
global leader in payments innovation by attracting the Uber of banking. Do you think the industry has
investment capital and creating a hospitable meanwhile found the answer?
regulatory environment for innovators, new entrants No, and I do not think we will. I also do not think we need to
and disruptors. be looking for it. Today, we have a wealth of digital potential to
create ever more personalised customer experiences and these
www.emergingpayments.org experiences place new products and services at the heart of the
consumer’s day to day life. The industry is such an exciting place
and traditional players, which are all striving towards digital
transformation to remain relevant, will need to keep in mind
that the growth of open banking and the evolution of the digital
ecosystem is unstoppable, as well as that they need to foster
a culture of innovation, and that cooperation (banks, fintech,
technology and other sectors) will be key to success.
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PayPal
A Cashless Future Is Around the Corner
After several thousand years of honorable service, cash seems Digital services like these make even more sense in our daily
to be progressively losing its title as King. Maintaining the current lives. According to a study from North-American IEEE, the
conditions for temperature and pressure, live money should biggest technological and professional organisation in the world,
disappear before the end of 2016, at least in Denmark. The Danish money, as well as debit and credit cards, will be replaced by
Central Bank has stopped manufacturing banknotes and coins payments through mobile devices in 2030, at the latest. In a
since 2013 and has been constantly investing in electronic money. world where 2.5 billion people are not part of a formal banking
system – but do have easy access to a cellphone – the forecast
The interesting thing is that on the other side of Öresund bridge, makes a lot of sense.
Sweden heads to the same way: in five years, their Central
Bank wants for the krone (established in 1873) to be restricted
to smartphone screens, tablets and computers. As usual, the
Swedish schedule is in good standing and Norway is on the
same path to a cashless future.
During my several trips to Stockholm in the past years, I don’t
remember to have seen the color of a note. My Scandinavian
friends told me that cash is used only by children and criminals
and I was glad to realise that I must have been out of target.
There is no need to be jealous, though, in case you are not
from Scandinavia. The revolution is going to hit the rest of the The only weakness: many people still do not feel safe when using
world quickly, as everyone will gain from it. The digitalisation of the so-called digital money. For 46% of the people interviewed
the society is already changing many aspects of our life – from by IEEE, the biggest concern with payments through mobile
the way we listen to music and watch multimedia content (on platforms, for example, is seeing your data “floating” in a cloud
demand, on the tablet screen), to the way we take taxis (apps on that hackers may have access to. Other 33% are worried about
smartphones integrated to a GPS). And all of this is paid through unauthorised payment processing. In addition, 72% consider
digital wallets, in many cases with a single click. that online banking services have the biggest chance of suffering
hacker attacks.
If you had been to a European music festival this summer, like
Cruilla in Barcelona, Open Air in Amsterdam or Rock-En-Seine in Navigation is necessary

Paris, you would have very likely not touched any coin or bank Another recent research on electronic commerce from Ipsos on
note to buy a drink: it is now more and more common to find behalf of PayPal revealed that the biggest concern for consumers
cashless payments on events like music festivals. The reasons (more than 51%) when buying online is safety. For this reason, it
are simple: it is easier to manage for the organisers and it is more is essential for companies active in the sector to create ways to
convenient and safer for festival attendees who do not have to protect the seller and also the buyer in the virtual world. And yes,
carry wallets or cash while dancing. this market is aware of this emergency. ➔

Three reasons
However, why should we end a payment method that has been
providing security for over three millennia? If we were to list the
many reasons presented by specialists throughout the world,

Luca Cassina
this article might even become a doctoral thesis. Nevertheless,
General Manager three reasons seem particularly of interest.
PayPal
First off, physical money leads to tax evasion. It is a fact.
Secondly, electronic money is more environment-friendly.
In addition to the environment cost related to the production of
About Luca Cassina: Luca Cassina joined PayPal notes and coins, the transport is another factor to add to the
in 2007 and, as General Manager for Western pollution factor. There is also the legal documentation that each
Europe, is now in charge of the company’s regional batch of money generates, demanded by bureaucracy, and the
development on all channels: web, mobile and maintenance of millions of ATMs. Finally, physical money is not
in-store. Luca graduated in Business Administration hygienic. British researchers from the BioCote Institute have
from Bocconi University in Milan, Italy and lives in recently come to the conclusion that withdrawing cash from an
Paris, France. ATM leaves a person exposed to as many bacteria as you would
when using the “most horrific public toilet”.
About PayPal: Founded in 1998, PayPal gives

people better ways to manage and move their Thus, we most agree that the third reason only is already enough
money, offering them choice and flexibility when for retiring the old mistreated cash, isn’t it?
they send money, pay or get paid. We operate an

open, secure and technology agnostic payments
platform that businesses use to securely transact
with their customers online, in stores and increasingly
on mobile devices.
www.paypal.com
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Russian Electronic Money Association
The Challenge of Customer Due Diligence in Online Era: Changing the Mindset
Learning new tricks

Financial services are increasingly moving online and face-to- low-risk transactions (such as person-to-person transfers,
face products are slowly drifting away. However, the financial payment to foreign merchants, payments over USD 235 or RUB
institutions and fintech startups are still facing regulatory 15.000 etc.). To this end, financial institutions are now allowed to
bottlenecks which prevent them from exploring the full potential remotely verify the client’s details (name, passport number, tax
of new business practices. One of the costliest of them is, without number or social security number) via state databases.
a doubt, customer due diligence obligations. While they form the
backbone of the client’s experience, these regulations are very Alternatively, they can get the client’s information from the
slow to adapt to changing circumstances and business models. e-gov portal (if the client is registered for the service and has
authorised them to do so). Yet, some exemptions for the lowest
We can develop amazing financial services but, if customers risk transactions (e.g. payments to local merchants below 15.000
need to come to the bank office in person, this ruins the whole roubles) still stand. It is important to note that, despite previous
experience. Inflexible customer due diligence requirements also concerns, all these mechanisms allow for the reliable remote
present a barrier to switching the bank – clients are reluctant to customer due diligence, in no way less effective than face-to-
shop for better deals on the market when they need to visit a face CDD.
physical branch all the time. This means lower client migration and
limited competition. In other words, new market players are not Since 2016, financial institutions – first time in Russia! – were
able to compete with the incumbents however innovative, cheap allowed to open the corporate bank accounts remotely by acquiring
or convenient their services are. the information from public databases (signed electronically).
To benefit from this opportunity, the company’s CEO should be
This problem – when customer due diligence requirements are previously identified by the same bank. We expect this to improve
effectively preventing the market from becoming more efficient competition among the banks and benefit small and medium
– will only become more pressing. Competition authorities need enterprises.

new CDD mechanisms to ensure the level playing field, financial
intelligence units – to more effectively track the elusive terrorist These mechanisms are in the first stages of implementation.
threats, the notion already supported by the FATF. CDD is also And they seem to be only first steps. We are currently in discussion
related to other important issues on the agenda: from financial with the regulator to allow simplified customer due diligence using
inclusion to de-risking. driving licence, by verifying bank card, or making the first payment
from the bank account opened in another financial institution.
Adapting to change And, more importantly, all these mechanisms represent significant
Previously, regulators thought that the flexibility in AML/CFT can but only a portion of the CDD practices that are currently in place
be achieved by implementing two-tiered approaches through worldwide.
demarcating services that require customer due diligence
and those which do not. But this does not work anymore. Searching for new best practices
As regulators are keen to limit the scope of exemptions, they are Other jurisdictions are experimenting with new technologies in
trying to introduce various risk-based CDD procedures. CDD as well. For example, video-identification has emerged in
Europe (surprisingly, almost unnoticed). Switzerland, Germany,
Although at a slower rate, the same happens in Russia. Back in Spain now allow financial institutions to perform CDD using
2014, authorities introduced the simplified due diligence for the videoconferencing software like Skype. ➔

ELECTRONIC
MONEY
➔ One simple solution is to remotely verify diversified client’s
information via state and public databases. As more data could
be checked through different sources of information, this allows

Victor Dostov Pavel Shoust
for quite reliable customer identification on par with face-to-face
President Executive director presence.
Russian Electronic Russian Electronic
Money Association Money Association
Another point of interest is represented by electronic signatures.
States are experimenting with e-signatures on SIM-cards, IDs
or tokens but the results have been limited so far. This beautiful
About Victor Dostov: As a President of the Russian technology has changed the economy a lot. Still, its relevance for
E-Money Association, Victor engages with the the CDD purposes in retail sector remains unknown. To benefit
stakeholders for more innovative and sustainable from e-signatures, customers need to use special readers and
payment market. software which makes it cumbersome and even unusable on
some platforms (e.g. smartphones or tablets). The jury is still out
About Pavel Shoust: Pavel’s main responsibility as on whether e-signatures will be the next big thing in CDD.
an Executive Director of REMA is to raise awareness

about the best practices in payments and regulation. Biometrics has become the center of attention recently as well.
But, in fact, successful cases of implementation are few. Probably,
About Russian Electronic Money Association the only jurisdiction that succeeded in large-scale implementation
(REMA): REMA is an industrial association founded is India with its Aadhaar project. In other countries, creating
in 2010. REMA consults regulators and private universal biometrics database of citizens is still a great challenge.
companies in Russia and abroad on the regulatory

approaches, new technologies and business However, the biggest change in CDD landscape is not the
strategies. It is also a member of the Financial Action emergence of new mechanisms and technologies. More importantly,
Task Force Consultative Forums and contributes we are seeing the shift in how regulators address the challenge of
to the work of the Alliance for Financial Inclusion. keeping CDD up to date. There is a growing consensus that, very
much like with the financial services themselves, customers need
www.npaed.ru/en a choice in the way they could go through the CDD process.
This means that CDD market should be competitive as well –
supporting the effective solutions and ruling out the ineffective
ones. Hopefully, this will bring us to the CDD practices that match
the development of the financial technologies. But first, this will
require new mindset of both public and private sector.
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Bank (R)Evolution
Trustly
Long Live the Bank Account: Why the Bank Account Is Becoming Increasingly
Relevant
One hundred years ago cash was king. People got paid in cash, for a Directive allowing access to basic bank accounts. As the
carried it in their wallets, and bought things with it at the local percent of banked consumers increases, the bank account
store. But, today, our salaries are deposited straight into our will inevitably become more relevant as the hub of all consumers’
bank accounts and we shop online from merchants all around financial lives.
the world. Yet, it is surprisingly difficult to pay straight from our
bank accounts. The good news for banks, online merchants
and consumers alike is that this is changing thanks to fintech
companies like Trustly. And not only is the bank account here to
92%
stay, but it is also becoming more relevant because of four factors:
a push for financial inclusion, increased safety, an underlying
speed of payment and the ability to enable bigger purchases.
% of Europeans who
have a bank account *
Methods of authentication
Something you know Something you have
PIN
Password PIN Smartphone Token
Identiﬁable picture One-time password * World Bank, financial inclusion data, 2014
Physiological biometrics Behavioral biometrics

2. As new technologies become available, the bank
account is becoming safer
Retina scan Fingerprints Speech Signature Paying with a credit card online does not make much
sense these days: It is inconvenient to key in a long string of
Hand geometry Keyboard rhythm numbers, not to mention it is rather unsafe for consumers
and risky for merchants. Online banking e-payments, on the
other hand, are a perfect fit for cross-border ecommerce.
1. The European Commission’s push for financial In Europe, bank payments are verified using strong two-
inclusion means more people will have access to factor authentication, which consists of something you know
bank accounts (a password, PIN or identifiable picture) and something you have
In Europe, about 92% of consumers have a bank account, which (a token, one-time password or smartphone). Many financial
gives them access not only to many financial services, but also institutions are even beginning to experiment with biometrics as
to cheaper online goods domestically and across borders. Still, a means of verifying customers. Based on physiological traits
that leaves 8% who are unbanked. “In today's world, European like fingerprints, hand geometry and retina scans, companies can
citizens can not fully participate in society without a basic bank confirm that people are who they say they are (anyone who has
account. Bank accounts have become an essential part of our a newer iPhone is already likely accustomed to using Touch ID
everyday life, allowing us to make and receive payments, shop to unlock their phone). Some companies are even taking this one
online, and pay utility bills (telephone, gas, electricity),” wrote the step further by analysing user behaviour like speech, signature
European Commission in a 2013 press release about its proposal and keyboard rhythm. ➔

➔ An increasing customer demand for banking security is pushing
more banks to offer the safest and most convenient authentication
methods available, making paying from a bank account safer and
more popular.
Stefan Backlund
Head of Marketing and Communications 3. Alternative payment methods are faster than
Trustly traditional methods
Speed matters more than you might think. In a culture where
instant gratification is making consumers perpetually impatient,
people expect payments to happen in real time — and when
About Stefan Backlund: Stefan has been Head of they do not, unsatisfied consumers will tweet about their
Marketing and Communications at Trustly since disappointment to all their friends. Since Trustly partnered with
2014 and, previously, had been leading consumer the Swedish online brokerage firm Avanza Bank in early 2016, the
marketing positions at Klarna and Philips. Stefan is average time for Avanza customers to make a deposit from a bank
passionate about UX and innovation in fintech and account to an Avanza share deposit has dramatically dropped
has a background in interaction design. from 14,000 seconds to 10 seconds. Two months post launch,
Trustly direct deposits account for almost 20% of all Avanza
About Trustly: Founded in 2008, Trustly Group deposits. These numbers suggest that consumers demand speed
AB is a Swedish fintech company providing when it comes to trading and online banking e-payments can
speedy, simple and safe online payment solutions meet this demand, resulting in happier customers.
across Europe. Its B2B payment solutions attract

merchants in four main segments: ecommerce, 4. Paying directly from the source of funds enables
travel, financial services and online gaming. larger purchases
In 2015, the company processed EUR 1.7 billion in Imagine you are about to make a big purchase online, say for
transactions. an expensive flight. Rather than topping up your e-wallet or
increasing the credit limit on your credit card, would not it be
www.trustly.com easier to pay directly from the source? Trustly’s service allows
consumers to select from which bank account they wish to pay,
be it a current account or a savings account with more funds.
This convenience might actually encourage people to buy more,
too. One Trustly case study conducted with a leading online
travel agency revealed that the average order value doubled
when adding online banking e-payments to the checkout,

compared to the most popular card and e-wallet schemes.
Share this story If you do not already rely heavily on your bank account, prepare
for that to change. The coming years will see life-changing
innovations in fintech, but the bank account will increasingly be
at the center of it all.

Chris Skinner
Pulse of the industry with Chris Skinner
Is the banking industry currently undergoing a That is more of an industry challenge than technological challenge
paradigm shift? but, once agreed, those shared industry structures based upon
I do not really like the phrase paradigm shift as it is over used, as blockchains will be radical. However, if I were a bank CIO today,
is disruption, disintermediation and others. What is happening, I would be more interested in machine learning as I can use that
and it has been bubbling away for a quarter of a century, is a for immediate benefits inside the bank. Machine learning takes
fundamental change to how banking is distributed and served. big data, data analytics and artificial intelligence and pushes it to
Twenty-five years ago, banking targeted the elite and trading the extreme. That is a data differentiator and any bank that can
was over the counter. Now, banking is available to all and trading differentiate through its data is going to retain clients and win new
is completely automated. Tomorrow, banking will be just part of ones.
a fabric of structure, like electricity and water, and we will think
more about how we value things than about money itself. How big is the challenge from the challenger banks?
Can these really disrupt the old order?
Challenger banks are challenging incumbent banks and the
What is happening, and it has main difference between the two is that the new guys have no
been bubbling away for a quarter customers, no history, no brand, no trust and limited capital.
The old guys have millions of customers, billions of capital and

of a century, is a fundamental
centuries of history. That is a tough challenge to shake up and
change to how banking is wake up an old industry that has customers who are unwilling or
distributed and served. unmotivated to change. The challengers really have to come up
with something radically different if they are going to ever get any
traction. Even if they do that and get some traction, give it a year
What is the biggest driver behind digital banking or two, the sleepy giants with their billions of capital will come
and innovation in the market? along and just buy them. So no, they won’t disrupt the old order.
Real-time networking. Ignore mobile and internet banking.
It is all about the digital backbone of the world – the internet There has been a lot of discussion around a potential
– and the ways to access that backbone via smart things. Uber of banking. Have you identified that company
Today it is smartphones, but soon it is smart everything: cars, eligible for this title? If not, what features/business
fridges, walls, handbags. As that happens, we will have trillions model etc. should such a company entail?
of transactions over billions of devices of very small value per There is no Uber of banking today. The closest you are going to
transaction globally. The banking system knows it cannot handle get is Ethereum. The reason is that Uber changed an old world of
this. It cannot handle real-time transactions in high volumes at distributed vehicles into a global app. We do not have the same
very low values. That is a massive driver for change. challenge in the banking world, apart from finding some way to
connect our distributed networks through a cheaper new global
Which is the most innovative technology in the current network. Ethereum, as far as blockchain and distributed ledgers
banking scene? goes, is that company today. However, I would not bet on them
Machine learning. I would like to say blockchain, but blockchain as being that company tomorrow, after their hard forks and DAO
is just a shared database and the challenge is to create those hack issues, so no. ➔
shared structures.

Can technological advancements provide the
economic alternative to the banking system, say
blockchain-based?
Potentially yes. A good example is bitcoin, which offers value transfer
Chris Skinner
globally in near real-time with no bank or government involved.
Chairman of the Financial Services Club But there is a problem. As soon as you have no government
and best-selling author of Digital Bank involved, the government wants to get involved. So what they
and ValueWeb do is start to pick this apart and find a way whereby you have
to declare what you are using the currency for. This is achieved
mostly by enforcing that you cash in and cash out through a bank
About Chris Skinner: Chris Skinner is known as an as the banks are the financial laws of governments.
independent commentator on the financial markets

and fintech through his blog, the Finanser.com, Think of it another way: you have the police on the streets for
as author of the bestselling book Digital Bank and physical crime; you have the banks on the internet for digital
its sequel ValueWeb. crime. If governments are unable to use banks to police online
crime, then the whole system breaks down. That is the threat and
About Finanser Ltd: The Finanser Ltd is the company opportunity of things like bitcoin and, given time, I am fairly sure
that represents Chris Skinner, FinTech authority, that the banks and governments will work out a way to enforce
prodigious author and all round good guy. it. If they do not, then we have a future of self-regulation which is
both exciting and a bit scary. You choose: would you rather have
www.thefinanser.com Donald Trump, Hillary Clinton or your next door neighbour policing
the world?
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Euro Banking Association
Euro Banking Association initiates Open Banking Forum
Creating a functioning Open Banking ecosystem will require a joint effort, which the Euro Banking
Association will support by initiating an Open Banking Forum open to all market players and stakeholders.
The Euro Banking Association initiates an Open The practical value of such services, however, will be heavily
Banking Forum to help prepare the ground for a influenced by the way(s) in which the PSD2 provisions and
pan-European Open Banking ecosystem. How is regulatory technical standards are implemented. That is why the
the Open Banking Forum positioned to help the Open Banking Forum will place its initial focus on pan-European
European banking industry? Open Banking considerations in the context of the PSD2 XS2A
The Open Forum on Open Banking should serve as the place requirements.
where the providers of payment services and related support
services can meet with other stakeholders at a pan-European What co-operation models will we see in the Open
level to discuss and exchange information on topics that are Banking context?
of practical relevance in an industry-wide move towards Open The move to Open Banking should lead to more transparency,
Banking. This forum, which will be kicked off on 21st November customer choice and customer control over personal data.
2016, has been initiated by the Euro Banking Association and In practice, this means that customers should be enabled to
we will logistically support it. But it will be an open group whose productively combine products and services of different providers.
agenda should be driven by its participants and their perception To make this possible, different kinds of services and applications
of topics around open access and Open Banking that would will have to seamlessly interact with each other. The new
benefit from being addressed collectively. requirements and opportunities in this context may give rise to new
co-operation models in both the collaborative and the competitive
domains, involving account-servicing PSPs and fintechs.

The objective of the Open
Banking Forum is to contribute The objective of the Open Banking Forum is to contribute to
the creation of a common understanding of the collaborative

to the creation of a common
domain in Open Banking among all parties concerned. This is an
understanding of the collaborative important step towards defining a pan-European Open Banking
domain in Open Banking. ecosystem and avoiding market fragmentation. To underline the
joint effort that will be needed to create a functioning ecosystem,
and to stress the openness of the Open Banking Forum to all
What type of Open Banking-related implementation stakeholders, the forum will, by the way, be co-moderated by
initiatives do you expect to see in the payments Don Ginsel of Holland FinTech and Gilbert Lichter of the EBA.
ecosystem in the near future?

Open Banking revolves around the standardisation of how PSPs From your perspective, what is the general outlook
allow customers more choice and sharing of their data for use for payments in the light of instant payments and
in third-party applications in a secure and resilient fashion. regulatory evolutions?
The implementation of the access-to-the-account provisions There is a shared notion in the industry that the new era of trans
(XS2A) of the revised Payment Services Directive (PSD2) over formation in the payments landscape which, for Europe, started
the next few years will be a major door opener for the roll-out of with the successful SEPA implementation, will continue to unfold
value-added services and new applications based on payment at an ever-increasing speed. ➔
initiation and account information services.

➔ The planned launch in November 2017 of the EPC SCT Inst
Scheme for pan-European instant payment, and the deployment
of real-time payment infrastructure supporting this scheme are
only two very visible examples of this continued acceleration.

Thomas Egner
Secretary General The underlying change drivers are the increasing digitalisation
Euro Banking Association (underpinned by the roll-out of new technology and of new ways
of using technology), evolving customer needs and expectations,
the emergence of new market entrants and, last, but not least,
ongoing regulatory activity. The latter seems, to a large extent,
About Thomas Egner: Thomas is Secretary General motivated by the other change drivers, since it concentrates on
of the Euro Banking Association. He has been in aspects such as paving the way for increased innovation and
transaction banking for over 20 years and has transparency across the European payments market, creating
helped to shape the European payments landscape a level playing field for competition and enhancing the overall
through contributing to the work of EPC, SWIFT security of electronic payments.
and EBA CLEARING.

In this context, it is important to understand that technology is
About Euro Banking Association: The Euro Banking not only a major change driver per se but also the elephant in the
Association (EBA) is a country-neutral practitioners’ room when it comes to determining the shape and impact of the
body driving and contributing to the delivery of three other change drivers. That is why it is crucial for market
pan-European co-operative payment initiatives and players to closely monitor developments in this area and assess
business practices. More information about the their business impact. The Euro Banking Association assists its
EBA-initiated Open Forum on Open Banking can members and the wider industry in this analysis through several
be found here. To participate in the forum, please work streams, including a recently launched working group
contact Open_Banking_Forum@abe-eba.eu. studying the role that crypto-technologies could play in the area
of international payments.
www.abe-eba.eu
However, it should be pointed out that compelling new
technology can only succeed in a network industry such as
payments if it is combined with the right co-operative approach
and effort to create the necessary large-scale effects. Against
this background, I hope that the new Open Forum on Open
Banking will be a useful instrument in preparing the common
ground that will be needed for a successful roll-out of Open
Banking solutions across Europe.
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Aite Group
The Programmable Bank
One of the hottest topics in retail banking and payments today In Europe, new regulation will be an additional driving force for
is the Application Programming Interface or API. In our digital the payments industry to adopt APIs.
world, the use of APIs is common, even essential to the growth of
companies such as Amazon, Google, Facebook, and other digital PSD2 will accelerate API Banking in Europe
leaders. But the increasing role of APIs in banking is a quite recent The Payment Services Directive (PSD) provides the legal
phenomenon, driven by market and regulatory forces. foundation for the creation of a EU-wide single market for
payments. The law was recently revised to “protect consumers
Introduction to APIs better when they make payments, promote the development
An API provides a standardised way for developers to and use of innovative online and mobile payments and make
communicate with the provider of a service. For this purpose, European payment services safer”. ‘PSD2’ came into effect in
the provider publishes a precise specification that must be January 2016, and will be transposed into the national law of all
adhered to when developers want to access the service. EU member states by January 2018 at the latest.
The API describes what functionality is available, the format
used to communicate, and the conditions for using the service. PSD2 requires European banks (and more generally, PSPs) to
An API is called ‘Open’ when it can be accessed – under specified give regulated third party providers (TPPs) access to customer
conditions – by third party developers (from outside the service account data (Account Information Services or AIS) and allows
provider’s organisation). An Open API specification is publicly them to initiate payments on the customer’s behalf (Payment
available, but the service provider may limit the functionality or Initiation Services or PIS). For both AIS and PIS, the customer
data available depending on contractual agreement. must give consent to the bank for the TPP to access their data.
AIS will lift the monopoly that banks currently have over their
APIs in banking and payments customer’s data. For example, fintech companies can more
Banks are beginning to open their data for use by third parties, easily consolidate account data to provide customers with a
in particular fintech applications, through Open APIs. Banks single window on their personal finances.
can make their own product data available, but also allow their
customers to share their data with third party providers. For ecommerce, the traditional 4-corner cards model could be
challenged. Using the PIS allowed by PSD2, merchants (or their
API Banking allows the bank to decouple its legacy core banking processors) can initiate payments directly from their customer’s
systems from the customer facing apps. The bank is much more bank account. The payment is then settled via SEPA credit
flexible to distribute its products through third party channels transfer, bypassing the card networks. Although the PSD2 does
provided by fintech, facilitating innovation and reducing time not mention APIs specifically, these are widely considered as the
to market. Banks can expose APIs e.g. for quoting foreign best solution to realize the objectives of the new law.
exchange and lending rates, ATM and branch office locators,
mortgage and loan calculators, access to account data, and Europe’s banks require a strategic response
making payments. For incumbent banks the development of APIs will require a
significant investment. The development of the API itself is one
APIs for payments are already widely used. ProgrammableWeb thing, but to make the data available to the API from legacy
provides a directory of published APIs on its website. systems and databases can be a serious challenge. Under the
The ‘payments’ category contains around 800 APIs, out of which PSD2, TPPs do not require a contractual agreement with the
the most popular are Paypal, Stripe, and Authorize.Net. bank to get access to account data or initiate payments. ➔

➔ This will make it difficult for banks to charge for the use of the
API. To develop an API just to become compliant with the PSD2
will therefore only destroy value.
Ron van Wezel

Banks should develop an API Banking strategy to open up
Senior Analyst Retail Banking & Payments Practice their data and services across multiple lines of business. Banks
Aite Group can develop APIs to provide TPP access to savings, loans,
mortgages, insurance, brokerage, and other services. APIs make
banking programmable. The bank can generate new revenue in a
number of ways. It can charge a third party directly for the use of
About Ron van Wezel: Ron van Wezel is a senior the API. It can also distribute its products through the API and its
analyst for Aite Group’s Retail Banking & Payments fintech partners to reach a wider customer base, aiming to win
practice. His research covers market and regulatory additional business. In this model, the bank could provide the
trends in the payments space, with a focus on API for free, and offer a revenue share for its partner if new client
Europe. business is generated.
About Aite Group: Aite Group is a global research An API Banking strategy will also position the bank competitively
and advisory firm delivering comprehensive, with fintech companies and challenger banks. These companies
actionable advice on business, technology, and are digital by design, and APIs are fundamental to their success.
regulatory issues and their impact on the financial They leverage APIs to connect with financial service providers
services industry. With expertise in banking, and business customers alike, offering a consolidator model or
payments, insurance, wealth management, and ‘banking as a service’ platform. Banks can choose to become
the capital markets, we guide financial institutions, information providers to these new digital banking plaforms.
technology providers, and consulting firms But they can also take up such a role themselves to stay more
worldwide. closely connected with the customer. API Banking offers new
opportunities to innovate retail banking, improve customer
www.aitegroup.com offerings, and stay competitive in the transformational game of
programmable banking.
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Visit Our Enhanced Online
Company Profiles Database
All company profiles in the Online Payments Market Guide

are available online in an enhanced company profiles database,
complete with keywords, company logo
and advanced search functionality.
http://onlinepayments.thepaypers.com/
Fintech Developments
Currencycloud
Fintech developments are changing the payments landscape. We talk to Todd Latham to get the
Currencycloud perspective on the future of payments.
What recent fintech solutions have caught The reason that companies like Currencycloud are growing so
Currencycloud’s attention in terms of market quickly is that we speak the language of the innovators. We know
disruption potential? what problems they are trying to solve and provide a massively
There are obviously a lot of interesting fintech propositions out flexible infrastructure for them to solve these issues.
there, and we continue to be really optimistic about the growth
of fintech in general. But the nature of fintech is changing. A lot During this year`s Moneyconf edition, Currencycloud
has been made of the first wave of fintech firms, which generally CEO Mike Laven stated that “a fintech model based
focused on consumer experience, providing an app layer over on price will lead nowhere” – could you please
an existing solution. The real innovation is at the model level, elaborate on this statement?
changing the infrastructure of financial services. So firms selling As with any burgeoning sector, there is investment chasing
big data solutions, analytics or compliance services are the ones fintech companies because of the long term potential of the
to watch. These sorts of companies are on the face of it less sexy sector. But, underlying this, every business is one day expected
but satisfy a real long term demand and are incredibly sticky. to make profit. If your revenue growth is based on ‘cheap’, you
engage in a race to the bottom and your business is hard to
sustain. But, in financial services, as in all industries, customers

… the existing traditional finance are willing to pay for value, be it great service, great user
infrastructure is often too big, too experience, or benefits they cannot get elsewhere. Value pricing
is sensible, cheap is unsustainable.

slow, too inflexible, and simply
does not understand what the In the digital ecommerce space, it is harder and
innovators are trying to do. harder to segment the market players. Could you
explain how have we come to this situation and
where is the digital market heading in this new
How exactly do new fintech solutions help B2B context?
ecommerce in the context of growing cross-border We used to live in a world where segmentation was easy. You might
ecommerce transactions? What opportunities are be a retailer, or a furniture manufacturer, and there was a nice
there to explore? SIC code that could identify what you did. However, the world
What we see is that there is a wide range of companies driving in reality is far more complex than that, and financial services
innovation in the fintech space, and what unites them is that segment is no different. For example, is Revolut a bank, a pre-paid
they are all trying to do something different. The issue is that, card or an international payment product? The answer is all three.
when trying to build new solutions, the existing traditional What we see is that the world can increasingly be segmented
finance infrastructure is often too big, too slow, too inflexible, into three buckets – digital firms, innovative incumbents and
and simply does not understand what the innovators are trying dinosaurs. ➔
to do. Compliance departments will arbitrarily label an activity as
‘high risk’, when what they really mean is ‘we do not understand
the risk’. IT connections are laborious and poorly documented.
Workflows are driven by suppliers’ internal requirements, and do
not fit the customer’s model.

➔ The digital market is interesting because, whilst there might
be many different business models, there are some unifying
characteristics. These firms are internet first, and increasingly

Todd Latham
mobile first. They use unconventional means to solve conventional
CMO & Head of Product problems. They value the customer experience, and aim to
Currencycloud remove friction from the process. In general, these are the firms
who find that traditional financial services models simply do not
work for them.
About Todd Latham: A bit of a nerd at heart, While the B2B international payments segment is
Todd is genuinely fascinated with how technology now estimated to be 10 times larger than the B2C
is transforming people's lives for the better. sector in transactional volume, innovation in B2B
Todd has extensive experience in the technology payments has lagged behind. In your opinion, when
and financial services sectors, where he has will the fintech revolution reach B2B payments?
delivered for American Express and Microsoft. In short, it is already here. B2B Payments has never been as bold
or as brash as the B2C sector, however B2B empowers the B2C
About Currencycloud: Currencycloud‘s Payment sector with the ability to be ‘sexy’. Traditional financial service
Engine is driving the transformation of the global providers would only be interested in large value – that makes
payments landscape. Re-imagining the way traditional remittance and cross-border payments expensive.
money flows through the global digital economy, Banks charge a fee to cover the cost of processing what they
Currencycloud allows payment firms to remove the see as low-value payments.
friction and inefficiencies of traditional cross-border

payments using its flexible APIs. Currencycloud is Without fintech companies operating in the B2B space and acting
regulated in Europe, the US and Canada. as aggregators – companies would not be able to offer consumers
the savings that they do today.
www.currencycloud.com
What is Currencycloud’s vision on the future of
payments?
Fast, transparent, global, data rich.
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Limonetik
Payment Services Future is Fintech
As a growing number of online merchants are moving to a been left after each spending if you only own a debit card, you
marketplace business model, the payment services industry may need to take a closer look at each credit card statement
needs to shift away from an IT transaction-based approach to a and crunch the numbers to really know what your account
finances aware integrated management service. balance will be at the end of the month. Global online brands and
payment service providers (PSPs) are facing the same challenge.
When I still was an undergraduate, selling online generally meant A key point here is the time scale: cash inflow management is
that one would sell its own products to customers in one’s own not only a matter of real-time data and IT connections. It requires
country. Going “international” meant nothing more than selling in additional and asynchronous financial work to effectively monitor
neighbouring countries. At that time, major ecommerce brands and manage each payment, dealing with specifics of payment
were also rightly seen as a competitor of the existing store or method, regulations, time zones, languages. Some payment
franchise network, often diverting existing customers from the methods aggregation service providers now have answers to
shops instead of attracting new ones. Since then, two connected this challenge, embracing both technical and financial aspects of
topics have emerged: new products and services are digital and, payment management. But yet, there is more to come with the
as a result, they can produce and purchase from anywhere in rapid development of fully-fledged marketplace business models.
the world. While a local retailer can only sell in relatively close
countries, Amazon, Deezer or Alibaba can sell everywhere in From a payment management perspective, marketplace business
the world. In the digital world, “international” now truly means model raises rather complex issues, starting with currency
“global”, and it matches the consumer`s expectation to purchase conversion and associated fees. Being a market place means
anytime, anywhere, from any vendor, through any channel. We’ve collecting payments and repay vendors anywhere in the world.
entered a new “marketplace business model”. Doing so, the marketplace also needs to make sure that it has
been paid before paying back, and that no refund request is
Let’s look at this trend from behind the payment scene. In the pending. Not to mention that for each payment, there will be
old days, online merchants would connect to a limited number several vendors to pay back, each having its own negotiated
of well-established payment methods, such as Visa, MasterCard, fees, taxes. The marketplace must also take care of its vendors,
Amex and PayPal. They collected customer payments in their own providing them with detailed information on outstanding
name through a single bank account. But things started to change payments, payments made, fees, etc.
as the number of available payment methods exploded. Each
new payment method not only required a technical connection If we look again at it from behind the payment scene, we see
but also a growing financial expertise to manage cash inflow on that a fully-fledged online payment management increasingly
a daily basis, securing receivables and dealing with local taxes requires bank-like financial knowledge. It also means turning
or customer protection regulations. The more online merchants existing transactional IT-based payment services architectures
were expanding internationally, the more complex it became. Just to business rules enabled systems, which are able to aggregate
imagine trying to figure out what went wrong in a payment status in multiple sources of information such as up-to-date conversion
China or Russia, with the time difference and the language barrier. rates and local taxes, as well as specific customer protection
regulation. This vision of a one stop shop global payment
To better explain this, let’s see how we deal with a similar issue management service is almost there. But it doesn’t come to life
as individuals. While it is easy to tell almost in real time what has without a significant investment. ➔

➔ From a payment services provider perspective, this vision
requires moving from a technical partner of PSPs and online
merchants to a global payment management specialist,
developing a broad financial expertise to implement complex

Christophe Bourbier
business, regulatory and financial rules into our payment
Chairman CEO connectivity platform. Failing to do so is not only failing to answer
Limonetik today’s needs of PSPs and marketplace customers to deliver their
respective internationalisation strategies. It is also facing the risk
of being, again, led back in times, just like we’ve all been through
this very moment in the past as an industry.
About Christophe Bourbier: Christophe is a born

entrepreneur and an executive with over 15 years of Back to my college days, when alternative payment was in its
experience in competitive and disruptive strategy. infancy, each online merchant or PSP had no option but to
Competitor at heart, captivated by international implement by itself each new payment method, one by one,
affairs, Christophe, before he founded Limonetik in slowly and missing a lot of business opportunities. It seems to me
2007, had created different companies in High Tech that we are standing now where we used to stand in the past, so it
and Communications. is about time we made the right move.
About Limonetik: Limonetik is a service provider in

the payment ecosystem. The company proposes to
merchants, marketplaces and PSPs to easily and
quickly connect to a large panel of international
payment methods via a unique API. Through its
“one stop” shopping payment solution (PaaS),
Limonetik delivers services from collection and
settlement management to reconciliation. Limonetik
is the guarantee of regulation compliance.
www.limonetik.com
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Spotlight on Card Schemes
Visa
How Visa Drives Payments Innovation
At Visa, we know how to blend a rich company history of more than Visa sees smartphones and wearables as the beginning of a new
50 years with continually driving innovation in the payment world. era, with millions of new connected devices making it simple, safe
Thus, security, reliability and an unparalleled scale are combined and secure to integrate daily commerce transactions into almost
with an open, collaborative attitude that brings innovation to a next any technology. And it is the doorway to the future as more and
level. Clients and consumers all over the globe benefit from this. more devices become connected in the rapidly growing Internet
of Things network.
Scale, reliability and innovation

Visa offers the scale, reliability and track record that the payments
market needs. The integration of Visa Europe and Visa Inc
strengthened our position and our capacity to roll out innovations
faster.
Even more important is that we understand that the possibilities,
channels and technologies for payments are increasing expo
nentially. Our strength lies in the fact that we can facilitate any
party that wishes to make use of our scale, reach and reliability: we
are technology agnostic, as long as the party involved meets the
minimum entry standards and our security demands. We believe
in a hybrid mix of channels, devices and authentication methods
and are creating services that will make payment simple, secure
and streamlined, regardless of how the consumer is shopping.
Mobile payments are driving this change. A recent study

conducted by Populus showed that the number of Europeans
regularly using a mobile device for payments has tripled since
2015 (54% vs 18%). In 2015, 38% of the people surveyed said
they had never used a mobile device to make payments and had Open mindset is needed
no plans to do so. That number has dropped to 12%. With its neutrality in the field of technology, together with its scale
and reliability, Visa facilitates innovation. But we also actively
contribute to it. You need the right mindset for that, a mindset that
we – and numerous financial institutions with us – have developed

over the years.
To provide the best service to the rapidly expanding ecosystem
of collaborating partners in the payment ecosystem, and to client
banks specifically, it is essential to have this open mindset. Until just
a few years ago, financial institutions used to develop new
prod ucts and services behind closed doors, products which
were not released to the public until they had undergone years of
extensive testing. ➔

Today, it is no longer possible to spend years within your own four
walls working on new solutions. Developments are taking place
at an unprecedented pace technologically speaking, but also with
regard to customer demand. This asks for an open mind, willing

Daniel van Delft
to investigate what is happening in the field of new technology
Country Manager for The Netherlands and consumer behaviour. And it asks for the courage to engage
Visa in small-scale experiments in new and unexpected partnerships.
Practice what you preach

We put this into practice by continually investing in innovation
About Daniel van Delft: Daniel van Delft is Country and by offering the digital domain a central position in our
Manager for Visa in The Netherlands. He is organisation. We recently expanded our tokenisation service,
responsible for Visa in the Dutch market: credit, for example, and opened it to third parties. The service secures
debit and prepaid. He is closely involved in Visa’s a customer’s information by creating a set of random numbers,
innovation efforts and their application in the Dutch a “token”, in place of the card details. When a customer makes
market. a payment, only the token is shared with the retailer. Our tokens
are available for any digital payment and enable entities in the
About Visa: Visa is a global payments technology payments ecosystem, from financial institutions to technology
company connecting consumers, businesses, partners, to develop new and improve existing digital products to
financial institutions, and governments to fast, meet growing consumer demand for convenience and security.
secure and reliable electronic payments.

We operate an advanced processing network, We are currently providing the Visa Token Service to a number
with fraud protection for consumers and assured of banks throughout Europe as well as popular third party digital
payment for merchants. Visa's innovations enable wallets, giving consumers the confidence that they can securely
financial institutions to offer consumers more load their Visa debit or credit card without compromising their
choices: pay now with debit, pay ahead with confidential information.
prepaid or pay later with credit products.

As long as we can initiate and join forces in the innovation process
www.visaeurope.com in the payment industry, and as long as we can make our scale
and experience available to our customers and collaborating
partners, we see a bright future with plenty of opportunities for
growth. Innovation is constantly at the center of our attention.
With an open mindset, cooperation with our clients and promising
partners, and a continuing effort to drive innovation within our own
organisation, Visa helps shaping the future of payments.
Share this story

Discover
With ever-evolving technologies and new legislative and regulatory developments, the definition
of a payments company is widening. Payment companies are no longer solely focused on running
transactions on their networks.
Can you share with our readership Discover’s other FIs and other networks, Discover is positioned to work within
business agenda in the context of the global portfolio the trend of convergence of payments and commerce within the
of customers? industry. Consumers are spending more time online as well as on
Discover is at virtual parity for merchant acceptance within the mobile and merchant advertisers are driving spend to digital ads.
US and is regularly accepted at merchant locations in tourist At Discover, we’re providing our merchant partners with tools so
destinations around the globe. We are constantly seeking the they are able to adapt to the changing environment while ensuring
right partners in other countries to provide opportunities for our cardholders have a seamless payments experience.
our cardholders to use their cards that run on the Discover
Global Network around the world. Currently we are accepted What technological solutions have you considered
at 38 million merchants, 1.9 million ATMs in 185 countries and for implementation in the US market, given that
territories around the world. Discover is also promoting growth mobile wallets have registered a continuous uptake
of global electronic payments through work with trade groups, among consumers?
merchants, other FIs and industry players. With smartphone use Discover Network continues to leverage its unique internal
in the US nearly ubiquitous and consumer behaviours changing systems and infrastructure in ways that had never been done
as a result of the capabilities of this technology, Discover before. In an effort to “digitize” the B2B payments space,
Network is in the middle of a payments technology evolution. Discover has been able to leverage a relationship with Ariba to
For consumers, mobile commerce offers greater convenience create AribaPay. This platform initiates payments and delivers rich
and added benefits. For merchants, it means an opportunity to remittance messaging between buyers and sellers. The payments
build loyalty and sales. Discover believes that, for Networks, it are delivered over the Discover Network which is one example
means offering solutions to its clients that are tailored to meet of leveraging Discover’s Network assets outside of a credit card
their consumers’ needs, while delivering more value to issuers, offering.
merchants, and ultimately, their end customer.

As mobile wallets continued to enter the market, Discover
Network identified the need to simplify and streamline a number

At Discover, we’re providing our of security solutions into one single platform. This led to the
merchant partners with tools creation of the Discover Digital Exchange (DDX), which connected
in 2015 our deeply-integrated issuer, Discover Card, to the first

so they are able to adapt to the
custom e-wallet, Apple Pay. Discover is now moving away from
changing environment while customer one-off builds to increase scalability by making platform
ensuring our cardholders have a components generic, allowing multiple clients and e-wallets to
seamless payments experience. access our platform simultaneously.
Is Discover engaged in any partnership with the

other global card networks towards the development
How would you, as a card network, characterise the of the current banking infrastructure?
actual payments industry in US? Discover has relationships with 3,400 plus financial institutions
The payments industry is characterised by rapid change in that issue debit cards on the PULSE network; 10 plus network-
technology, consumer behaviour, and regulations. As a bank and to-network alliances with large regional payment networks
a network that interacts with consumers, merchants, acquirers, around the world; 80 plus Diners Club International licences ➔

➔ spanning 185 countries and territories; plus relationships
with acquirers, emerging payments providers, and companies
and brands in the US. We’re always looking into leveraging our
unique relationships so we’re creating a more seamless banking

Diane Offereins
experience for our partners and cardholders.
Executive Vice President,
President – Payment Services Among the countless technologies available
Discover on the market, such as blockchain, APIs and
cloud computing, which do you think is the most
promising for future developments in payments and
About Diane Offereins: Diane Offereins is the why?
Executive Vice President, President – Payment Discover aligned our organisational priorities to focus on mobile
Services at Discover. As head of Discover’s tech implementation in the rapidly changing payments space.
Payment Services, she is responsible for uniting This decision moved the organisation from testing with well-
three networks: Discover Network, Diners Club known tech companies to a dedicated mobile strategy ready for
International and PULSE. implementation. The commitment equipped Discover to enable
its clients with all the tools necessary to compete in the mobile
About Discover: Discover is a direct banking space, while delivering a frictionless end-user experience for
and payment services company and one of the their consumers.
largest card issuers in the US. They issue Discover

cards, and offers private student loans, personal How would you depict the evolution of the card
loans, home equity loans, and deposit products. networks-based payments by 2020, given the full
It operates the Discover Network, PULSE and sweep of the alternatives?
Diners Club International. With ever-evolving technologies and new legislative and
regulatory developments, the definition of a payments company
www.discover.com is widening. Payment companies are no longer solely focused on
www.discoverglobalnetwork.com running transactions on their networks. They are also smarter,
and have more sophisticated technology, that allows them to
leverage data-focused services to offer targeted promotions.
Since there are more and more ways to conduct transactions the
industry landscape encourages payment companies to provide
a wider breadth of services to their customers. Additionally, it is
the responsibility of a payments company to work with smaller
players who do not have the access or bandwidth to navigate
this changing environment on their own. All of these industry
evolutions require new organisations to work together to increase
Share this story security and help their customers with the transition. Discover’s
focus is to help card members and merchants evolve seamlessly
into the new industry landscape and further, lead the industry
into the next phase.

Don't Miss the Opportunity of Being Part of
Large-Scale Payments Industry Overview
The Paypers offers the most valuable source of information and guidance for all parties
interested in the current state of affairs of the payments industry.
Paul Alfing | Chairman e-Payments Committee | Ecommerce Europe
Once a year, The Paypers releases four large-scale industry overviews covering the latest trends, developments, disruptive
innovations and challenges that define the global online/mobile payments, e-invoicing, B2B payments, ecommerce and web
fraud prevention & digital identity space. Industry consultants, policy makers, service providers, merchants from all over the world
share their views and expertise on different key topics within the industry. Listings and advertorial options are also part of the
Guides for the purpose of ensuring effective company exposure at a global level.
B2B Fintech: Payments, Supply Chain Online Payments and Ecommerce Web Fraud Prevention & Online
Finance & E-Invoicing Guide 2016 Market Guide 2016 Authentication Market Guide 2016
INSIGHTS INTO THE B2B PAYMENTS, SUPPLY CHAIN FINANCE & INSIGHTS INTO GLOBAL ONLINE PAYMENTS AND ECOMMERCE MARKET LATEST TRENDS AND INSIGHTS INTO SECURING DIGITAL IDENTITIES
AND TRANSACTIONS
E-INVOICING MARKET
Ecommerce Payment Methods

Report 2016

newfound wisdom with friends: We’d love if you shared your We’d love if you shared your
newfound wisdom with friends newfound wisdom with friends
Building Building
Better Commerce Better Commerce
MRC Fraud & Payments Professionals MRC Fraud & Payments Professionals
B2B Payments, SCF Ecommerce Payment Online Payments and Web Fraud Prevention
& E-Invoicing Methods Ecommerce & Online Authentication
For the latest edition, please check the Reports section

Company profiles
Company Acapture View company profile in online database
Acapture provides global card acquiring, more than 60 alternative payment methods, more
than 20 ecommerce platform plugins, POS, dispute handling, an in-house data science
team and over 160 transaction currencies to merchants and PSPs (white labelled). For more
information about Acapture visit: www.acapture.com.
Website www.acapture.com
Keywords for online profile PSP, acquirer, alternative payments, POS, cross-border, multi-currency, omnichannel
Contact d.martin@acapture.com, +31 2079 423 00, Netherlands
Geographical presence New York, Utah, San Francisco, Madrid, London, Singapore, Tokyo, Hong Kong, Macau,
Amsterdam and Toronto
Market segment(s) Online payment processing, cross-border ecommerce, ecommerce, digital goods
Active since 2014
Service provider type Collecting payment service provider
Payment methods
Credit cards Amex,VISA, CB, JCB, MasterCard, Diners, Discover, AirPlus
Debit cards Maestro, (e)Maestro, Visa electron, Carte Bleue, Visa Debit, China UnionPay, Visa CPC,
Debit Mastercard, Carte Bancaire, China Union Pay
Pre-paid cards Paysafecard
Online banking Ideal, Bancontact-MisterCash, SofortUberweisung, Giropay, Prezelewy 24, Poli,
Post Finance, Trustpay, Trustly, EPS, Entercash, Paytrail, Poli, Postfinance, Astropay,
Primeiropay
E-wallet Alipay, Yandex, PayPal, Tenpay, Onecard, CashU, Mercadopago, Qiwi
Mobile / SMS / IVR Daopay
Alternative payment methods Afterpay, Klarna
Offline POS
Connected companies (#) Payvision
Companies PSP is connected to Acapture is connected to numerous alternative payment schemes, acquirers, banks,
ecommerce platforms and shopping cart providers.
Settlement currencies (acquirers) AUD, CAD, CHF, DKK, EUR, GBP, HKD, JPY, NOK, NZD, PLN, SEK, SGD, USD
Services
Unique selling points Acapture, a global omnichannel PSP, designs payment solutions that maximize the
revenue of merchants with international ambitions. Acapture’s platform features SlicePay
for simplified split settlements, flexible reporting, an in-house data science team, quick
integration using one RESTful API and a streamlined reconciliation. It handles accounts
receivable and accounts payable, providing global card acquiring, over 20 ecommerce
platform plugins, dispute handling, consolidated reporting and the ability to handle more
than 60 of the most popular alternative payment methods and over 160 transaction
currencies.
Core services Global card processing, global acquiring, alternative payment methods, ecommerce
platform plugins, tokenization, underwriting, fraud/risk monitoring, interchange optimization,
multi-currency processing, innovative payment solutions, accounts payables, accounts
receivables
Pricing Blended rate, Interchange Plus
Collecting payments Yes
Distributing payments Yes
Fraud prevention (measures) IP geolocation, multi-merchant purchase history, global validation checks, Verified by Visa,
MasterCard SecureCode, AVS, velocity checks, data validation, geographical checking,
parameter format checking, transaction limit checking, geo IP-origin check, black/white list,
device fingerprinting, risk scoring, plausibility checks, correlation detection, managed fraud
services
Fraud prevention partners In-house and third party solutions
Credit management (services) External but integrated to platform
96 ONLINE PAYMENTS AND ECOMMERCE MARKET GUIDE 2016 | COMPANY PROFILES

Other services Tokenization, hosted payment pages, currency conversion, 24/7 support across the globe,
Interchange optimization and consultancy,
Third parties Controlscan
Technology
Direct connections Yes
Batch processing Yes
Per order processing Yes
Merchant pages (direct model) Yes
PSP pages (redirect model) Yes
Interface Single unified REST based API for omnichannel transaction processing. Acapture APIs
are well structured and follow a developer-friendly, object oriented design. These APIs are
designed to have predictable, resource-oriented URLs and use HTTP response codes to
indicate high level API errors. APIs address all the aspects of payment industry standards
and remove the burden of security implementation, tedious integration and status polling
from developers. One time simple integration of a few standard APIs opens the door to
worldwide payment options.
Security PCI-DSS compliant

Maximize
your revenue
Setting a new standard in the
payment industry
Global card cquiring
60+ alternative payment methods
Online, mobile and POS payments
Integrates in hours with one RESTful API
Data science to optimize authorization rates
acapture.com
Company ACI Worldwide View company profile in online database
ACI Worldwide, the Universal Payments (UP) company, powers electronic payments for
more than 5,100 organizations around the world. More than 1,000 of the largest financial
institutions and intermediaries as well as thousands of global merchants rely on ACI to
execute USD 14 trillion each day in payments. In addition, myriad organizations utilize our
electronic bill presentment and payment services. Through our comprehensive suite of
software and SaaS-based solutions, we deliver real-time, immediate payments capabilities
and enable the industry’s most complete omni-channel payments experience.
Website www.aciworldwide.com
Keywords for online profile payment systems, payment gateway, PCI, ecommerce, alternative payments, omni-channel,
fraud prevention, merchant services
Contact http://www.aciworldwide.com/who-we-are/contact-us.aspx
Geographical presence Global
Market segment(s) Auction, gambling, gaming, retail, convenience/fueling, grocery, merchant services, travel,
other
Active since 1975
Service provider type Payment switch provider, payment gateway, ecommerce fraud prevention provider, omni-
channel payment solutions, white label payment infrastructure provider
Payment methods
Credit cards Includes: Amex, VISA, JCB, China UnionPay, MasterCard, Diners, Discover, ASYAcard,
Axess, Bonus, CardFinans, maximum, World, Argencard, Cabal, Cencosud, Naranja, Nativa,
Tarjeta Shopping, ELO, Hipercard, MarcadoPago, Falabela, Magna, BC Card, Choheung
Card, Citi Card, Daegu BC, Gyungnam BC, Hana BC, HanaSK Card, Hyundai Card, IBK
BC, Jeju BC, Jeonbuk Card, KB (Kookmin) Card, KDB BC, KEB, Korea Post, Kwangju Bank
Card, NH (Nonghyup), Pusan BC, Seamaeul Cheque, Samsung Card, Savings Bank, SC BC,
Shinhan Card, Suhyup Card, Woori BC. Visit http://globalcoverage.aciworldwide.com for
further details.
Debit cards Includes: China UnionPay, Maestro, Vpay, Visa Electron, Visa Debit,
Presto, ELO, PostFinance, Carte Bleue, CarteBancaire, Dankort. Visit
http://globalcoverage.aciworldwide.com for further details.
Pre-paid cards ELO, MangirKart, paysafecard, Ukash
Online banking Includes: POLi II, China UnionPay, AstroPay, iDEAL, sofortbanking / sofortüberweisung,
TrustPay, Webmoney, Przelewy24 Dialcom 24 Sp.z.o.o., Skrill Direct, Giropay, Paytrail, eps,
Trustly. Visit http://globalcoverage.aciworldwide.com for further details.
E-wallet PayPal, Alipay, CashU, Skrill (Moneybookers), OneCard, QIWI, ClickandBuy, iPara, Yandex
Money, Amazon Payments, MasterCard MasterPass, Mazooma
Mobile / SMS / IVR mopay, DaoPay, Kanzaroo, paybox
Alternative payment methods Includes: Alipay, AstroPay, ASYAcard, Banelco, Bapropagos, Bitcoin, Boleto Bancario,
CashU, China UnionPay, ClickandBuy, Cobro Express, Credit Transfer, DaoPay, Direct
Debit, Domestic Money Transfer, ELO, eps, Giropay, iDEAL, iPara, Kanzaroo, Klarna,
Kriita, Link, Lufthansa Miles and More, MangirKart, mopay, OneCard, Oxxo, paybox,
Pago Facil, payolution, PAYPAL, paysafecard, Paytrail, POLi II, PostFinance, ProvinciaNet,
Przelewy24, QIWI, Rapipago, RedPagos, RIPSA, SEPA Direct Debit, ServiPag, Skrill
(Moneybookers), sofortüberweisung / sofortbanking, Trustly, TrustPay, Ukash, virtual
currencies (credits) in online games, Webmoney, Yandex Money, 7Eleven. Visit
Offline Includes: Boleto Bancario, Oxxo, 7Eleven, Banelco, Bapropagos, Link, PagoFacil, Cobro
Express, ProvinciaNet, RIPSA, ServiPag, AstroPay, RedPagos, and Rapipago. Visit
Connected companies (#) More than 350 connected card aquirers and alternative payment methods, part of a global
payment network that is constantly expanding.
Companies PSP is connected to See interactive list of Global Coverage: http://globalcoverage.aciworldwide.com
Settlement currencies (acquirers) All currencies supported by connected acquirers and payment methods.

Services
Unique selling points ACI is the only global company that can deliver the breadth of merchant specific payments
solutions and provide the necessary payment processing capabilities, security and fraud
prevention, business functionality, and integrated value add applications required in today’s
competitive market. The ACI UP eCommerce Payments solution is delivered via a single
RESTful API, for maximum agility and simplicity.
Core services Payment switch provider, ecommerce fraud prevention provider, omni-channel payment
solutions, cross-border payment processing, PCI-compliant merchant boarding, and access
to more than 350 domestic and international acquirers and alternative payment methods.
Modular solutions are configured to specific business cases, with additional fraud prevention
tools, monitoring and reporting, and business services.
Pricing For current pricing, contact us at: www.aciworldwide.com
Distributing payments No
Fraud prevention (measures) Capabilities include: ecommerce fraud detection and prevention, device fingerprinting,
IP geolocation, machine learning capabilities, neural models, multi-merchant purchase
history, global validation checks, Verified by Visa, MasterCard SecureCode, velocity checks,
persistent cookies, data validation, geographical checking, parameter format checking,
transaction limit checking, risk scoring, geo IP-origin check, black/white list, etc.
Fraud prevention partners Threatmetrix, iOvation, Neustar Targus, Whitepages Pro, Tradebeam and Perseuss
Credit management (services) N/A
Other services Ecommerce gateway, MOTO – ready to use call-center solutions, COPYandPAY – widget-
based payment forms, automated merchant boarding, sophisticated monitoring system,
profit optimized risk management, customizable white-label services, tokenization solutions,
business intelligence service with flexible data analysis tools, recurring billing services with
ready-to-use, PCI compliant stored billing plan implementation, modular payment gateway
enabling global payment processing for payment providers via one RESTful API.
Third parties N/A
Technology
Interface Open Payment Platform based on RESTful API architecture
Security ACI Worldwide’s UP eCommerce Payments solution is PCI DSS Level 1 Certified, and offers
state-of-the-art payment infrastructure according to best practice security standards. ACI
clients are automatically PCI DSS compliant when processing through the UP eCommerce
Payment platform.
LOAD
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ACI WORLDWIDE | www.aciworldwide.com | Americas +1 402 390 7600 | Asia Pacific +65 6334 4843 | Europe, Middle East, Africa +44 (0) 1923 816393
Company Adyen View company profile in online database
Adyen powers global commerce for the world’s fastest growing companies. Its unique
solution supports a broad range of shopper journeys across online, mobile and in store, and
its modern infrastructure connects businesses to all major card schemes and local payment
methods – all in a single, unified system.
Website www.adyen.com
Keywords for online profile PSP, online payments, payment processing, multi-currency, PCI, ecommerce, alternative
payments, acquirer, gateway, omnichannel, point-of-sale, mobile, in-app
Contact Simon Carmiggeltstraat 6-50, 1011 DJ Amsterdam, The Netherlands
amsterdam@adyen.com, +31 20 240 1660
Market segment(s) Active in all industries
Active since 2006
Service provider type Payment service provider, payment gateway, alternative payment method, acquirer,
processor, issuer, bank
Payment methods
Credit cards Amex, MC, VISA, CB, JCB, Mastercard, Diners, Discover, UATP, AirPlus, Kalibra, PostePay,
SanPaolo, Cartes Bancaires, Delta, CUP, etc.
Debit cards Bancontact, Dankort, Giropay, Maestro, PostePay, Visa Debit, CUP, Cartes Bancaires,
US debit networks
Pre-paid cards PaySafeCard, PostePay, Cash ticket, Ukash, PayPal, local national brands
Online banking Yes - Poland, Finland, Sweden, Austria, Germany, the Netherlands, Belgium, Australia,
Canada, Czech Republic, etc.
E-wallet PayPal, Alipay, DOKU Wallet, Neteller, Qiwi, Webmoney, Dineromail, CashU, WeChat
Mobile / SMS / IVR Fully hosted mobile solution for iOS, Android and other platforms, supporting all payment
methods Global coverage for SMS and IVR through partners.
Alternative payment methods Over 250 payment methods supported worldwide.
Offline Bank transfers in over 30 countries, a selection of local voucher/cash-on-delivery payment
methods.
Connected companies (#) More information available on request
Companies PSP is connected to More information available on request
Settlement currencies (acquirers) AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, JPY, NOK, NZD, PLN, SEK, SGD, USD, ZAR
Services
Unique selling points Adyen provides a single platform across online, mobile and point-of-sale channels, where
payment gateway, acquiring services and risk management are all integrated on the same
infrastructure, which is 100% built and managed in-house. By being both an acquirer and
a full-service PSP, Adyen maintains a completely unique position in the industry.
Core services Payment technology provider for ecommerce, POS and mobile, acquiring, risk management,
reconciliation, reporting
Pricing Pricing is calculated using the Interchange+ pricing model, in which the commission is
calculated directly from the card schemes’ interchange fees. So businesses always see
exactly what they are paying for every transaction.
Fraud prevention (measures) RevenueProtect: integrated risk prevention solution with velocity checks, referral lists,
persistent cookies, device fingerprinting, proxy piercing. All checks are fully configurable and
extendable. Automated system proactively advises on optimal risk settings based on historic
transaction data. The keystone feature ShopperDNA uses device fingerprinting and user-
attribute linking to identify and track fraudsters behind transactions.
Fraud prevention partners Adyen provides built-in solutions: Adyen RevenueProtect
Credit management (services) More information on request.
Other services Payment routing; optimization suite RevenueAcclerate, Dynamic 3D-Secure; recurring and
one-click payments using tokenization; mobile SDK; pay out; vouchers; POS solution for
face-to-face payments.
Third parties None, everything is developed and maintained in-house.
Technology
Interface Web services, SOAP, XML. Reporting in CSV, RSS, XML, PDF and Excel. POS SDK available
for iOS, Android.
Security Adyen is fully PCI Level 1 compliant, conforming to all relevant security mechanisms.
Company 3.4 - accept payments in Latin America View company profile in online database
Leader PSP for Latin America with offices in Berlin, Bogota, Buenos Aires, Mexico City, São
Paulo and San Francisco. allpago provides all relevant local payment methods and features
through one single API and platform; offering the best conversion rates through state-of-the-
art technology and legal advice necessary for successful ecommerce operations in LATAM.
Website www.allpago.com
Keywords for online profile IPSP, online payments, payment processing, payment gateway, ecommerce, alternative
payments, managed services, tax advisory
Contact EMEA Office: Invalidenstr. 112 10115 Berlin, Germany. Phone: +49 (30) 6098 7982-0 2833
US Office: Webster St. # 5 San Francisco CA 94123. Phone : +1 (415) 527 0894
E-Mail: sales@allpago.com
Geographical presence Regional: North/Latin America (Operating: Argentina, Brazil, Mexico, Colombia, Chile and
Sales Offices the US and EMEA)
Market segment(s) Software, digital goods, online media, e-learning, social network, physical products,
electronic ticketing, online payments. B2C and B2B specific payment soltutions
Active since 2012
Service provider type Payment service provider, soft collection, payment gateway, alternative payments, managed
services, cross-border payment provider for selected payment methods
Payment methods
Credit cards Amex, Diners, Discover, JCB, MasterCard, Visa, American Express, Hipercard, Cencosud,
Nativa, Cabal, argencard, Tarjeta Shopping, CMR Falabella, Presto, Magna.
Debit cards Maestro, Visa electron, Banamex, Santander, BBVA Bancomer, HSBC, Banorte
Pre-paid cards Paysafecard
Online banking Yes
E-wallet Exclusive PayPal Master Agreement in Brazil and Mexico that enables global merchants to
accept local Payment Methods including Seller Protection.
Mobile / SMS / IVR Yes - Full m-commerce SDK solution
Alternative payment methods Argentina: Rapipago, Pago Facil, Link, wiretransfer, provincia net
Brazil: Boleto Bancário, Wire Transfers
Chile: Wire Transfer (1H2017)
Colombia: Botón PSE, Vía Baloto
Mexico: Oxxo, Wire Transfers
Offline Boleto Bancário, Oxxo, Botón PSE, Vía Baloto, wire transfer
Connected companies (#) More than 200 card acquirers and 300 alternative payment methods
Companies PSP is connected to Argentina: Prisma (Visa), Firstdata (MasterCard), Amex (1Q2017); Brazil: Cielo, Rede, Stone,
First Data; Chile: 1H2017; Colombia: Redeban, Credibanco, Bancolombia; Mexico: Banorte,
Banamex, BBVA Bancomer
Settlement currencies (acquirers) Local settlement in the local currency and multi-currency transfer of funds for selected
payment methods (BRL, MXN, COP, ARS)
Services
Unique selling points allpago provides payment solutions to access the Latin American market, guaranteeing
compliance to local laws and regulations and offering cross-border solutions for selected
payment methods. Through allpago merchants get omni-channel access to local payment
methods through one API with direct bank integrations, which immediately increases the
revenues in the region.
Core services Online payment processing (money collection, one-click payments, recurring payments,
instalments, split payments, intelligent routing, A/B testing, dynamic descriptor and mobile
payment solutions); fraud monitoring; business intelligence platform and customised
reporting; multi-currency transfer of funds.
Pricing As we tailor our solutions accordingly to the needs and specificities of each merchant,
for pricing information please contact us at sales@allpago.com
Fraud prevention (measures) Black/white list, data validation, device fingerprinting, geographical checking, IP geo-
location, MasterCard SecureCode, parameter format checking, persistent cookies, risk
scoring, transaction limit checking, velocity checks, Verified by Visa
Fraud prevention partners ThreatMetrix, Ethoca, Clearsale and Merchant Risk Council (First Member in Latin America)
Credit management (services) Purchase on credit, receivables management, online void and refund, payment guarantee,
instalments
Other services LATAM presence, one connection to LATAM, incubation consulting services, tax advisory,
multilingual 24/7 customer support, professional services and proactive support
Third parties PayPal
Technology
Interface Web services, XML, POST, iFrame.
Security HTTPS, SSL+, PKI, TLSv1.2+, OWASP, HIDS, IPS, Firewall whitelisting
one api one region
Access all LATAM Payment Methods
Only Direct Bank & Acquirer Relationships
Gateway & Collecting PSP
Exclusive reseller of Paypal LATAM
Card Updater, CB Alerts & Disputes
Market leaders relying on allpago:
Offices in Certified Agent / PF by:
Berlin +49 (30) 60 98 79 82 0

Bogotá +57 (32) 05 80 70 93
Mexico City +52 (55) 41 61 38 78
San Francisco +1 (415) 52 70 89 4
São Paulo +55 (11) 39 38 54 00
www.allpago.com
Company Avangate View company profile in online database
Avangate, a Francisco Partners portfolio company, is the digital commerce provider that
helps software, SaaS and online services companies sell their products and services via
multiple channels, acquire customers across multiple touch points, increase customer and
revenue retention, leverage smarter payment options, and to maximize sales conversion
rates. Avangate’s clients include ABBYY, Absolute, Bitdefender, Brocade, FICO, HP
Software, Kaspersky Lab, Telestream and many more companies across the globe.
Website www.avangate.com
Keywords for online profile online payments, subscription billing, multi-currency, ecommerce, global, digital goods,
software, merchant of record
Contact Delia Ene (delia.ene@avangate.com)
Geographical presence North/Latin America, Europe, Middle East/Africa, Asia/Pacific
Market segment(s) Software, SaaS, online service
Active since 2006
Service provider type Merchant of record, payment service provider
Payment methods
Credit cards Visa, MasterCard, JCB, American Express, Diners Club, Discover/Novus
Debit cards Visa Electron/Maestro/Eurocard, Postepay (Visa), Carte Bleue, Solo, Alipay, Dankort,
Chinese Debit Cards, Barcode Santander, Giropay, CartaSI, China Union Pay, Bonus and
Maximum, World, Paraf, Bank Asya and CardFinans, Axess, Advantage, Miles and Smiles
Pre-paid cards Not Applicable
Online banking Sofort Banking (Germany, Austria, Belgium, Switzerland, The Netherlands, Italy and Poland),
Giropay, iDEAL (Netherlands), directeBanking (Germany, Austria), DirectDebit (UK), 1-Scan
Bank Transfers (Czech Republic), POLi real time (Australia, New Zealand), online banking
also in Sweeden, Finland, Denmark, Spain, Estonia, Poland, Italy, Norway and Japan
E-wallet PayPal, Webmoney, Boleto Bancario, Pago Facil, Qiwi, CashU
Mobile/SMS/IVR Mobile responsive cart
Alternative payment methods Trial Pay, PayNearMe, Konbini, Pago Facil, Ukash, Cash at 7-Eleven, Family Dollar & ACE,
Qiwi
Offline Wire/bank transfer, ACH/echeck, check, payment info by fax, purchase order
Connected companies (#) Not Disclosable
Companies PSP is connected to Not Disclosable
Settlement currencies (acquirers) EUR/GBP/USD/JPY/others available upon request
Services
Unique selling points In today’s dynamic and constantly evolving software market, and considering there are
many ecommerce platform vendors and payment service providers, Avangate is the
modern digital commerce service that helps digital businesses launch new products and
grow faster, maximize revenue from every customer, and instantly conduct business in
over 180 countries. Powered by a proven cloud platform and global commerce expertise,
Avangate frees digital business leaders from the complexities of building and operating their
own commerce infrastructure.
Core services Complete commerce, including: ecommerce manager, subscription billing, channel manager,
affiliate network, global payments, professional services
Pricing http://www.avangate.com/pricing/
Fraud prevention (measures) Automated risk scoring, IP geo-location checks, address checks, transaction amount
checks, velocity checks, Verified by Visa, MasterCard SecureCode, data validation,
cross-platform pattern recognition, whitelisting/blacklisting technology, region-specific fraud
profiling. Powerful protection from risk and fraud with a combination of a proprietary fraud
scanning process and careful human review.
Fraud prevention partners Not Disclosable
Other services Marketing services (CRO, PPC, SEO, Email Marketing), Revenue Recovery service.
Third parties Out of the box and custom integrations with with 3rd Party tools: CRM applications
(Salesforce, etc.), Marketo, and others. More information available upon request.
Technology
Direct connections Yes (API)
Batch processing No
Interface SOAP, JSON-RPC, REST, web services
Security HTTPS, PKI, PGP, Open SSL
Company Be2bill View company profile in online database
As an acquiring bank, a Payment Service Provider (PSP) and a marketing expert all at
once, Be2bill provides personalized service on the entire payment process. With our unique
platform for both online and offline transactions, we support merchants in their omnichannel
strategy and increase their conversion rates.
Website www.be2bill.com
Keywords for online profile PSP, acquirer, online payment, PCI, ecommerce, fraud, omnichannel, POS
Contact hello@be2bill.com, +33 1 84 07 07 07
Geographical presence Europe
Market segment(s) Retail, travel, gambling, gaming, other
Active since 2012
Service provider type Payment service provider, payment gateway, acquirer, processor
Payment methods
Credit cards American Express, MasterCard, VISA, CB, MC, Amex, Cofinoga, Aurore, etc.
Debit cards Bancontact/Mistercash, Maestro, (e)Maestro, Giropay, BCMC, Visa electron, Carte Bleue,
Visa Debit, Debit Mastercard, Carte Bancaire, PostFinance
Pre-paid cards Paysafecard, MasterCard, Maestro, V Pay
Online banking iDEAL, Sofort, Giropay, Przelewy24, Multibanco, Bank transfer
E-wallet PayPal
Mobile / SMS / IVR SMS & IVR in all European countries
Alternative payment methods Klarna, SEPA Direct Debit, Apple Pay, iDEAL, Giropay, Sofort, Multibanco, Przelewy24,
Paysafecard
Offline Omnichannel acquiring (POS, mobile POS, unattended payment terminal)
Connected companies (#) More information available upon request
Companies PSP is connected to More information available upon request
Settlement currencies (acquirers) Europe: EUR/CHF/GBP/CZK/DKK/NOK/PLN/SEK/TRY
Rest of the world: USD/CAD/ZAR/HKD/JPY/AUDNZD/SGD
Services
Unique selling points Understanding your business to manage your payments efficiently from processing to
acquiring. Our collaborative and data-centric approach with merchants improves conversion
& fraud prevention, enables local payment methods or omnichannel customer journey
in-store and online. All payments are operated on a unique active/active platform. It offers
a flexible reconciliated reporting.
Core services Cross-channel (online, mobile, in-store) payment processing and acquiring, fraud
management, local and alternative payment methods hub, financial reconciliation
Pricing Transparent, performance oriented and clear pricing with no hidden fees
Collecting payments Yes, both PSP and acquirer on all supported payment methods
Distributing payments Yes on D+1, splitted distribution on multiple bank accounts, full reconciliated reporting
Fraud prevention (measures) Smart 3D Secure, basket item, rule engine, device fingerprinting, IP geolocation, multi-
merchant purchase history, global validation checks, Verified by Visa, MasterCard
SecureCode, velocity checks, persistent cookies, data validation, geographical checking,
parameter format checking, black/white list, delivery method, postal code, shared card,
purchase velocity, blocking forms, BIN filtering
Fraud prevention partners All our fraud services are designed, developed and operated internally to ensure the best
performance
Credit management (services) Yes, through full integrated 3rd parties
Other services Dedicated payment manager to boost performance, full REST APIs, user-friendly extranet,
chargeback dispute management tool, full sandbox environment, developer portal with
online up-to-date documentation, tokenisation, hosted payment pages, iFrame payment
page, PHP SDK, payment project management, end-to-end payment processing and
acquiring, managed fraud prevention service, automated reconciliation, marketplace
payment solution, POS, Point-of-sale, mPOS on seller tablet
Third parties N/A
Technology
Interface Web services, PHP API, Web integration, eCommerce platform modules (Prestashop,
Magento, Hybris, Demandware, Salesforce Commerce Cloud, etc.)
Security HTTPS, TLS, PKI, PCI-DSS level 1 Service Provider
The leading payment service that
increases your sales
E-COMMERCE STORE MOBILE
UNDERSTANDING YOUR BUSINESS TO

MANAGE YOUR PAYMENTS EFFICIENTLY FROM A Z
AUTHORISED BY
BY THE ACPR
AUTHORISATION NO. 16378
www.be2bill.com hello@be2bill.com +33 1 84 07 07 07 @be2bill

Company Computop – the payment people View company profile in online database
Computop is a leading global payment service provider (PSP) that offers compliant
and secure solutions in the fields of ecommerce, POS, m-commerce and Mail Order
and Telephone Order. The company processes transactions totalling USD 24 billion
per year for its client network of over 14,000 large international merchants and global
marketplace partners such as C&A, Fossil, Rakuten, Samsung and Swarovski. Computop’s
comprehensive multichannel solution is geared to the needs of merchants, banks and white
label customers.
Website www.computop.com
Keywords for online profile payment scheme, payment gateway, PSP, online payment, payment processing multi-
currency, PCI, ecommerce, alternative payments, fraud prevention, PCI solutions,
tokenization, Point of Sale, PoS, mobile PoS, cross-channel, omnichannel, epayments
Contact Germany: +49 (951) 98009-22, sales@computop.com
UK: +44 (0) 1932 895735, uk@computop.com
USA: +1 800 701 7806, usa@computop.com
China: +86-152 1432 8818, info@computop-china.cn
Market segment(s) Retail, travel, events, pharmaceuticals, ticketing, content, adult, auction, gambling,
gaming, digital downloads, customized B2C solutions, B2B purchasing solutions.
Active since 1997
Service provider type Payment service provider
Payment methods
Credit cards Amex, MC, VISA, CB, JCB, Visa, MasterCard, Diners, Discover, UATP, China Union Pay,
Aura, elo, Hipercard, Naranja, Cabal, Argencard, cencosud, BKM express, Card Avantaj,
AlphaCard, AsyaCard, Foulou, Tarjeta Shopping, Condensa
Debit cards Bancontact/Mister Cash, Maestro, Giropay, BCMC, (e)Maestro, Visa electron, Dankort,
Laser, Delta, Carte Bleue, Dankorte, CartaSi, Postepay, Visa Debit, BancNet, China
UnionPay, Alipay, 99Bill, Poli, Visa CPC, Debit Mastercard, Carte Bancaire, CartaSi, Carte
Bleue, Chinese debit cards, Carte Blanche, PostFinance, Banco do Brasil, Bradesco, Itaú,
Caixa Econômica Federal, Santander, HSBC, Banrisul, Sicredi, Banco de Brasília, Mercantil,
Safra, Rendimento, Banco da Amazônia, Bancoob, Banestes, Banco do Nordeste
Pre-paid cards paysafecard, Axess, Bonus, Maximum, CardFinans, World, IKANO Card, fashioncheque
Online banking Alipay, AstroPay direct, eps, giropay, iDEAL, PayU, POLi, PostFinance, Przelewy24,
SafetyPay, SOFORTÜberweisung/SOFORTBanking, TrustPay, Trustly, iDEAL, Banco Do
Brasil, Bradesco Comerico Electronico, Banri Compras, HSBC Comerico Electronico, eps,
ING Homepay, BCR 24Banking, BT24 iTransfer, Cosmote, Bancnet, Bank of Ayudhya,
eNETS, BBL, iPay88, Krungthai Bank, PPS, m2u, MyClear, Siam Commercial Bank, UOB,
TMB and over 50 more
E-wallet Alipay, amazonpayments, iPay Wallet, MasterPass, Paydirekt, PayPal, PostPay,Qiwi, Skrill,
BPM, gCash, Octopus, Smart Money, TenPay, WeChat, BKM Express
Mobile / SMS / IVR More information available upon request
Alternative payment methods International direct debit, AstroPay Card, Barzahlen, BillPay, Bitcoin, Boleto Bancario,
Klarna, Klarna Checkout, PayByBill, Paymorrow, Payolution, Payprotect, teleingreso, Ticket
OnLine, Carte 4 Etoiles, Carte Helline, Carte Helline 4 Etoiles, PagoFacil, Rapipago, Cobro
Express, Bapo, Ripsa, Baloto, efecty, PSE, OXXO, Bancomer, IXI, Soctiabank, Santander,
7 Eleven, BCP, ZebraPay, LianLianPay, Yeepay, BDO, RCBC, Bayad, Cebuna, ecPay, Cofidis,
1euro.com, Cetelem, Facilipay, Cheque Vacance
Offline Bank transfers in most European countries, QR codes, POS and Mobile POS, magnetic
strip, online chip and PIN, offline chip and PIN for Visa & Master Card
Connected companies (#) Over 100 acquirers, specialized fraud solutions, logistics partners, credit management,
ecommerce platforms,
Companies PSP is connected to Please contact Computop for a complete list of connected processors and acquiring banks
worldwide.
Settlement currencies (acquirers) Over 70 currencies. Please contact Computop for a complete list of currencies.
Services
Unique selling points Global multichannel payment, International card processing and local payment processing,
P2PE-certified POS-terminal solutions, mobile SDK for In-App payments, receivables
management, currency conversion, individual payment forms for all channels, efficient
and customizable fraud prevention, reduced integration effort through pre-integration with
leading ERP and ecommerce vendors including: Demandware, hybris, IBM WebSphere,
INTERSHOP, Magento, Oxid eSales and SAP, which provides the smooth integration and
faster time to market, independent industry and product consultancy
Core services Complete multichannel solution for global payment processing (ecommerce, mCommerce,
POS, MOTO as well as “out of the box” mobile templates for iPhone, iPad, Blackberry,
Android, Windows and Symbian; extensive risk management and fraud protection
Pricing Provided upon request. Contact Computop for more information.
Fraud prevention (measures) Device fingerprinting, IP geolocation, multi-merchant purchase history, global validation
checks, Verified by Visa, MasterCard SecureCode, velocity checks, persistent cookies, data
validation, geographical checking, parameter format checking, transaction limit checking,
risk scoring, geo IP-origin check, black/white list, risk management systems, address
verification, credit checks, card origin check, ELV score, 3D Secure American Express
Safekey, bank account checks
Fraud prevention partners Additional integrated fraud prevention and risk management Partners: ACI ReD, arvato
Infoscore, Boniversum, Bürgel, Cardinal Commerce, CEG, Creditreform, deltavista, SCHUFA
Credit management (services) Credit control / receivables management
Other services IATA DISH20 support, American Express B2B purchasing solution, recurring payments,
subscription billing and management, Computop Analytics backoffice with user rights
management, Computop Reporter for detailed analyses, least cost routing for select regions,
Cash&Go mobile topup, batch file transfer, EPA settlement files, consolidated reconcilliation
files, cardholder fund transfer, tokenization, Corporate Paypages through templates,
payment routing, point-to-point encryption for Point of Sale; white-label solutions.
Third parties Computop Paygate is built and developed in-house.
Technology
Interface Name Value Pair (NVP); Web services (specifications available upon request)
Security SSL, HMAC, Blowfish, PCI DSS level 1 Certified, certified bank data centers
Company First Atlantic Commerce View company profile in online database
First Atlantic Commerce (FAC) is a secure, PCI certified payment gateway based in the
LACR that offers custom, online payment solutions to merchants and banks around the
world. FAC is connected to banks across the Caribbean, Panama, Bermuda, UK, Europe
and Mauritius, and provides merchants with online credit and debit card processing through
a single, secure interface.
Website www.firstatlanticcommerce.com
Keywords for online profile payment gateway, merchant accounts, global online payments, credit card processing,
website payments, payment service provider, internet payments, online payments, payment
processing, Caribbean merchant accounts
Contact Tricia Lines Hill, SVP, Business Development & Marketing.
E: tlineshill@fac.bm T:+1.441.294.4625
Geographical presence Assist merchants globally through solutions in the UK, US, Europe, Panama, Bermuda,
Caribbean and Mauritius. We specialize in the Caribbean.
Market segment(s) Retail, travel (airlines, hotels, car rentals), ticketing and events, prepaid phone and VoIP,
digital content, ISPs, web hosting, social gaming, licensed forex, education, utilities,
government portals
Active since 1998
Service provider type Payment gateway and merchant account facilitator via partner banks
Payment methods
Credit cards Visa, MasterCard, Amex, Discover, JCB, China Union Pay (bank dependent)
Debit cards Visa & MasterCard branded debit cards, Maestro, Laser
Pre-paid cards Solutions available via partners
Online banking Yes (solution dependent)
E-wallet No
Mobile/SMS/IVR No
Alternative payment methods More information available upon request
Offline Bank transfers (solution dependent), prepaid cards
Connected companies (#) 15 Acquirers around the world
Companies PSP is connected to Bank acquirers
Settlement currencies (acquirers) USD, EUR, AUD, HKD, DKK, SEK, ZAR, GBP, CAD, NZD, CHF, NOK, JPY, SGD, AED, MUR,
KES, Caribbean currencies
Services
Unique selling points - Custom, online, multi-currency payment solutions
- Secure, PCI DSS Level 1 Certified Payment Gateway
- Low transaction fees
- Global merchant accounts
- Specialize in the Caribbean
- Exceptional customer service and satisfaction
- Standalone AVS, CVV & 3D Secure services
- Tokenization
- Hosted Payment Page
- 18 years of experience
Core services Payment gateway, online payment processing, standalone or bundled verification services,
global merchant accounts through partner acquirers
Pricing Tiered, according to volume (very competitive)
Collecting payments FAC facilitates direct merchant accounts with acquiring banks
Distributing payments FAC facilitates direct merchant accounts with acquiring banks
Fraud prevention (measures) North American AVS, Card ID verification (CVV2/CVC2/CID), and 3D Secure™ (Verified by
Visa, MasterCard SecureCode), Bin Checks, Kount – all available as standalone or bundled
service. Also bin blocks, card blocks, transaction data monitoring, manual purchase history
reviews, transaction value caps, volume limits.
Fraud prevention partners Kount
Credit management (services) No
Other services Payment gateway services for ecommerce acquiring banks. Bank 3D Secure certifications,
recurring payments, tokenization, real-time reporting, hosted payment page
Third parties Multiple reservation and ecommerce platforms such as 3DCart, osCommerce, Bookeo,
B4checkin, Rezgo, Magento, Realex, SkyVantage, Radixx, Travolutionary, WooCommerce
Technology
Interface Web services, SOAP, XML (specifications available upon request)
Security HTTPS, SSL+, SFTP, SSH encryption
Online Payment Solutions
Accept Credit Cards Online

> LOW Gateway Transaction Fees
> Global Merchant Accounts
> Fraud Mitigation Services
> Hosted Payment Page & Tokenization
> 3-D Secure™ as a stand-alone Solution
> Exceptional Customer Service
Specializing in
the Caribbean
Tel: 441.296.5598 or 441.294.4622 | Fax: 441.295.6855 | E-mail: sales@fac.bm | Web: www.ﬁrstatlanticcommerce.com

Company First Data View company profile in online database
First Data is a global leader in commerce-enabling technology and solutions, serving six
million business locations in 118 countries around the world. We are dedicated to helping
companies, from startups to the world’s largest corporations conduct commerce daily by
securing and processing more than 2,500 transactions per second and USD 1.9 trillion
per year.
Website https://www.firstdata.com/
Keywords for online profile payment gateway, payment processing, alternative payments, ecommerce, merchant
acquiring, cross-border, multi-currency, online payments, payments company, digital
commerce
Contact Talkpayments@firstdata.com
Geographical presence North/Latin America, Europe, Middle East/Africa, Asia Pacific
Market segment(s) Retail, petrol, sports & entertainment, gaming, gambling, hospitality, travel, hotels
Active since 1971
Service provider type Payment service provider, payment gateway, acquirer, processor, issuer, alternative payment
method
Payment methods
Credit cards Amex, MasterCard, Visa, JCB, Discover, Diners, China Union Pay
Debit cards Maestro, Giropay, Girocard, GiroGo, Visa electron, V-Pay, Elektronisches Lastschrift-
verfahren (ELV), GeldKarte, Bancontact/Mister Cash, Visa Debit, Debit Mastercard, ELO,
Hipercard, Sorocred, Cabal, Bancontact, Ideal
Pre-paid cards GYFT
Online banking No
E-wallet PayPal, Google Wallet, Apple Pay, Android Pay, Samsung Pay, MasterPass, Visa Checkout,
Oxigen, Paytm
Mobile / SMS / IVR N/A
Alternative payment methods Giropay, iDeal, Sofort, Klarna, Bancontact Mistercash, SEPA DD, EPS, PayPal, RuPay,
Paytm, Netbanking
Offline Mobile device
Connected companies (#) No (everything built in house)
Companies PSP is connected to N/A
Settlement currencies (acquirers) USD, CAD, CHF, DKK, EUR, GBP, NOK, NZD, SEK, HKD, AUD, ZAR, JPY, SGD, TWD, MTR
and BND
Services
Unique selling points First Data stands at the centre of the fast-paced payments ecosystem, collaborating to
deliver next-generation technology and help our clients grow their businesses. Whether our
clients conduct commerce in a single city or have operations across continents, we offer
them an unmatched suite of solutions tailored to their unique business needs.
Core services Online payment processing, alternative payments, eDCC, authorisation and settlement,
virtual terminal, hosted payment page, API, online portal, fraud prevention tools, data vault,
reoccuring payments
Pricing For current pricing, please contact talkpayments@firstdata.com
Fraud prevention (measures) Verified by Visa, MasterCard SecureCode, data validation, geographical checking,
transaction limit checking, risk scoring, geo IP-origin check, black/white list
Fraud prevention partners Cybersource
Other services Fully customizable payment pages (REST API, hosted payment pages, browser-based
virtual terminal), recurring and one-click payments using tokenization; developer portal
with sandbox environment, native mobile payment pages; dynamic pricing and electronic
dynamic currency conversion (DCC), POS solution for face-to-face payments.
Third parties N/A
Technology
Interface Web services, SOAP XML (specifications available upon request), RESTful API
Security SHA 2, SSL, HTTPS
Transforming Global Commerce
Reach your Marketplace with Innovative Payment Solutions

First Data stands at the centre of the fast-paced payments ecosystem,
collaborating to deliver next-generation technology and to help clients
grow their businesses. Whether you conduct commerce in a single
city or have operations across continents, we offer a suite of solutions
tailored to your unique business needs.
To find out more, please email us at talkpayments@firstdata.com

or visit firstdata.com
© 2016 First Data Corporation. All Rights Reserved. All trademarks, service marks and trade names referenced in this material are the property of their respective owners.
260017 2016-09
Company HiPay View company profile in online database
HiPay is an expert in payment services offering online publishers and retailers next
generation solutions to maximize their revenue while limiting their risk. HiPay brings added
value to transaction processing with industry-leading solutions in international payments,
risk management and business intelligence.
Website www.hipay.com
Keywords for online profile payment gateway, online payment, multi-currency, PCI, ecommerce, alternative payments,
fraud screening, cross-border payments
Contact paypers@hipay.com
Market segment(s) Retail/e-tail; gaming, travel, gambling, financial services, digital content
Active since 2013
Service provider type Payment service provider
Payment methods
Credit cards Visa, MasterCard, American Express, Carte Bancaire, Aura
Debit cards Bancontact, Maestro, Post Finance
Pre-paid cards Astropay, Paysafecard
Online banking Banamex, Banco do Brasil, BBVA Bancomer, Belfius, Bradesco, Caixa, GiroPay, iDeal, ING
Homepay, Itaú, MultiBanco, Przelewy24, SOFORT, Trustpay Banking
E-wallet PayPal, PayULatam wallet, Visa Qiwi, Webmoney, Yandex Money
Mobile/SMS/IVR SMS worldwide, IVR Europe
Alternative payment methods Klarna, Boleto Bancario, SEPA Direct debit, Sisal Pay, Oxxo, Santander Cash
Offline Yes
Connected companies (#) All major acquirers and banks worldwide
Companies PSP is connected to All major acquirers and banks worldwide
Settlement currencies (acquirers) EUR, CHF, GBP, USD, CAD, JPY, HKD, AUD, etc.
Services
Unique selling points HiPay provides a next-generation full service payment processing platform to help
merchants expand their business internationally and across channels. Our proprietary
technologies for minimizing risk and maximizing conversion based upon payment data and
business analysis tools provide merchants with a 360-degree view of their business.
Core services Payment gateway, alternative payments, fraud and risk management, ecommerce, POS and
mobile, reconciliation, reporting, international payments
Pricing Flexible prizing models, depending on requirements and volumes.
Fraud prevention (measures) Device fingerprinting, IP geolocation, global validation checks, Verified by Visa, MasterCard
SecureCode, velocity checks, data validation, geographical checking, parameter format
checking, transaction limit checking, risk scoring, geo IP-origin check, black/white list,
automated challenge management
Fraud prevention partners iovation
Credit management (services) More information available upon request
Other services Full-service provider, Dynamic 3DS, omni-channel, tokenization, marketplace solution, fully
customizable payment page, POS solution, business intelligence, multilingual support
Third parties More information available upon request
Technology
Interface Web services, REST API, SDKs
Security HTTPS, SSL+, sFTP, PCI-DSS Level 1
Company Ingenico ePayments View company profile in online database
Offering more than 150 local and international payment methods, we help merchants to
manage, collect and secure their payments and prevent fraud on any digital transactions –
in-App, card-based or alternative payment methods. Beyond removing payment complexity,
we provide merchants with solutions to increase conversion, such as FX conversion,
analytics and fraud management.
Website www.ingenico.com/epayments
Keywords for online profile online payment, payment gateway, PSP, payment processing, multi-currency, PCI,
full service, omnichannel
Contact Jurriaan Trommels
Market segment(s) Digital goods and services, video gaming, retail, travel and tourism, SMB, FX, other
Active since 1994
Service provider type Payment service provider (gateway & collecting)
Payment methods
Credit cards Visa, MasterCard, American Express, Diners Club International, Discover, JCB, Union Pay
International and more than 15 local cards across the globe
Debit cards Bancontact, Maestro, Giropay, Visa Electron, Dankort, Carte Bleue, CartaSi, Postepay,
Visa Debit, Mastercard Debit, Carte Bancaire.
Pre-paid cards Ukash, Paysafecard
Online banking iDEAL, Sofortüberweisung/Sofort Banking and Giropay (Germany), Nordea Solo (Sweden,
Finland, Denmark), ING HomePay (Belgium), various banks in Poland, eNETS (Singapore),
bPay, Net Banking (India)
E-wallet PayPal, WebMoney, cashU, Alipay, Yandex, Moneybookers (Skrill), Seqr
Mobile / SMS / IVR Responsive Hosted Payment Pages, native in-app payments (iOS & Android), call center
application, mobile-optimized payment products, tokenization
Alternative payment methods Direct debits, virtual bank accounts, bank transfers, Bpay, Konbini (Japan), Pay-easy
(Japan), Ukash, Paysafecard, Boleto Bancario, Western Union, Pago Facil, invoicing,
cheques, QIWI, eNETS, AirPlus, UATP, Klarna, Netbanking
Offline Bank transfers worldwide acceptance, local acceptance in over 55 countries, payouts
(cross-border payments), cash and kiosk payments
Connected companies (#) More than 100 acquirers
Companies PSP is connected to Ingenico is bank-independent and has partnerships with leading international financial
institutions such as First Data, AIB, BNP, HSBC, Wells Fargo, Barclays, Elavon, Euroline and
others
Settlement currencies (acquirers) EUR, GBP, USD (additional currencies upon request)
Services
Unique selling points Global footprint with strong local expertise, developer-centric and mobile first platform,
easy integration with REST API and SDKs, full-service processing with over 150 payment
products, multi-acquirer set-up, advanced data analytics and BI, conversion optimization
services, FX management, managed fraud services, omnichannel services
Core services Online payment processing, reconciliation information (web)
Pricing Upon request on a customized basis.
Fraud prevention (measures) IP geolocation, controls and behavioral analysis, 3D Secure (Verified by Visa, MasterCard
SecureCode), velocity checks, geographical checking, transaction limit checking, risk
scoring, geo IP origin check, black/white lists, AVS, CVV, CVC, Bin Check, customized rule
sets, real-time fraud screening, lost/stolen cards
Fraud prevention partners Retail Decisions (ReD), Experian, Intercard, Perseuss
Other services Developer Portal with sandbox environment, REST API, hosted payment pages,
tokenization, PHP SDK, Java SDK, JavaScript SDK, Node.js SDK, Python SDK, .NET SDK,
iOS SDK, Android SDK, currency conversion, multi-acquirer set-up, international expansion
services, multi-lingual 24/7 consumer support, Checkout conversion, FX, managed fraud
services, Elevate Business Intelligence, multi-channel
Third parties N/A
Technology
Interface REST API / JSON Payload, XML API
Security PCI-DSS Level 1 certified. ISAE 3402 Level II compliant for processing all payment products.
Dedicated in-house information security team as part of risk management.
Company Limonetik View company profile in online database
Limonetik is a full service provider in the payments ecosystem that proposes to PSPs,
Acquirers, International Merchants and Marketplaces to easily access, via a unique API,
to a large panel of international payment methods and advanced services from accounting
reconciliation, currency conversion and regulation compliance.
Website www.limonetik.com
Keywords for online profile online payments, full service, payment processing, alternative payments, innovative payment
methods, ecommerce, marketplace payment solutions
Contact contact@limonetik.com
marketingww@limonetik.com
Geographical presence Europe, Asia Pacific, South America
Market segment(s) Marketplace, retail, travel, gaming, payment methods, PSPs, acquirers, insurances, banks
Active since 2008
Service provider type Payment processor, alternative payment method creator
Payment methods
Credit cards More information available upon request.
Debit cards More information available upon request.
Pre-paid cards Ukash-Smart Voucher, Paysafecard, Sprit of Cadeau, Pass Cadeau, CADOCarte, Sodexo,
BEST, Yesbycash, Illicado, Ticket Kadeos Online, Cadhoc, Carte Chèque Lire, Carte Chèque
Culture, Ticket Premium; gift cards for merchant: Wonderbox, Smartbox, La Redoute,
Vente-Privée
Online banking Slimpay, Sofort
E-wallet PayPal, v.me, Masterpass, Paylib, TenPay, Alipay
Mobile / SMS / IVR Flash’n Pay, Seamless, etc.
Alternative payment methods 1euro, Cofidis 3xCB, Facilypay 3x or 4x, Klarna, carte privilège, Leetchi, Le Pot Communi,
Lilyliste, Bitcoin, Groupon, Chèque-Vacances, e-Chéque-Vacances, Boleto, Alipay
Offline More information available upon request.
Connected companies (#) Payment Institution: SFPMEI, Webhelp/FDI, Tunz, Arkea, etc.
Third party integrators: Orchestra, Mirakl, Hybris, Izberg
Companies PSP is connected to Ogone, Payline, Paybox, ATOS, Computop, etc.
Settlement currencies (acquirers) All currencies
Services
Unique selling points Limonetik is an aggregator of APM’s, which simplifies and streamlines the complex
payments arena offering a fully-integrated solution with single MI feed. With it, merchants
and marketplaces are connected to APM’s directly or through original PSPs quickly and
easily. Limonetik facilitates collecting, settlement, and delivers better consumer experience.
Core services Online payment processing, financial collecting reconciliation, one-stop solution for all
players in payment sector.
Pricing For pricing enquiry, please email us:
contact@limonetik.com
marketingww@limonetik.com
Fraud prevention (measures) We are connected to the PSPs, which have comprehensive fraud prevention.
Fraud prevention partners More information available upon request.
Credit management (services) We are connected to the PSPs, which have credit management services.
Other services • Connect and develop merchants and marketplaces network for APMs and PSPs
• Create bespoke payment solution and payment page for APMs;
• Collect financial reports easily for merchants and marketplaces;
• Enrich payment methods, like split tender transaction support.
Third parties SFPMEI, Webhelp/FDI for acquisition, Société Générale
Technology
Interface Rest API with WebServices based on XML or JSON.
Security HTTPS
INTERNATIONAL PAYMENTS PLATFORM
Full Service Solutions to Process, Collect and Reconciliate
all Alternative Payment Methods
E-Merchants that only offer Bank Cards as Payment Method

miss 50% of their international sales
With Limonetik, never miss an international sale Again
1 SaaS Platform that gives access to:

• 85 international payment methods
• Cover all Europe, Russia & China
• Connect payment methods, collect cash and reconciliate
In Processing mode or Full service
3 weeks to integrate a new payment method vs classically 4-6 months
“Our partnership with Limonetik gives airlines “To boost conversion rates and customer
the opportunity to easily customize their satisfaction, our customers can now take
alternative payment acceptance portfolio advantage of a top-of-the-line product with
while avoiding the burden of managing new great services and French payment methods
partnerships, connectivity, and system that include eChèque-Vacances and payment
changes.” by instalments for the local online market.”
To know more contact us :

Energize payments contact@limonetik.com
www.limonetik.com
Company MasterCard Payment Gateway Services View company profile in online database
Our gateway offers industry leading, global payment processing services and advanced
fraud management solutions – for merchants, industry partners and acquiring banks.
We recognise that the digital commerce market represents a key area of growth for our
customers. As such, it is a key focus for us at MasterCard. We have aggressively invested in
payment gateway assets, by both acquisition and development of proprietary technology, to
provide a superior gateway offering that can assist our customers meet their global business
objectives.
Website www.mastercard.com/gateway
Keywords for online profile PSP, cross-border, international, multi-currency, payment gateway, payment processing,
fraud prevention, online payments
Contact Sales Team: gateway_sales@mastercard.com, +44 (0) 20 7421 9280
Geographical presence North America, Latin America, Europe, Middle East, Africa, Asia Pacific
Market segment(s) Retail, airline, travel and entertainment, hospitality, ticketing, gaming, digital content
downloads, finance, education, government, telecommunications and many others.
Active since 1997
Service provider type Payment service provider, payment gateway, fraud and risk management system
Payment methods
Credit cards MasterCard, Visa, American Express, JCB, Diners Club International, Discover and branded
store cards
Debit cards Maestro (International and Domestic), Visa Electron, Visa Debit, China Union Pay and many
more. Please contact gateway_sales@mastercard.com for a full list.
Pre-paid cards Yes
Online banking Yes
E-wallet Yes examples include: MasterPass, PayPal, Visa Checkout, AMEX Express Checkout
Mobile/SMS/IVR Yes
Alternative payment methods Yes – more than 45 global payment types supported, including but not limited to Sofort
Banking, giropay, CUP, BACS, ACH and more representing strong international coverage in
both established and emerging geographies.
Offline Yes
Connected companies (#) MasterCard Payment Gateway Services is connected into an array of global acquirers, fraud
prevention, cardholder present partners, POS systems, ecommerce platforms, alternative
payment services, loyalty and prepaid card solution partners and more. In addition, we have
connectivity to more than 140 acquirers.
Companies PSP is connected to Please contact our sales team for more information
Settlement currencies (acquirers) MasterCard Payment Gateway Services can settle in to any currency supported by the
acquiring bank. Settlement currencies are acquiring bank dependent.
Services
Unique selling points MasterCard Payment Gateway Services offers a range of comprehensive payment gateway
and risk management solutions with a unique global network of acquiring connections.
Additionally, we provide acquiring banks with a white label capability, offering extensive
consultation and advice around ‘go to market’ plan. Whilst remaining entirely agnostic and
enabling card payment from all schemes, we are also able to leverage the wider MasterCard
organization to enhance our technology and bring innovation faster.
Core services Payment technology provider for ecommerce, POS/omni-channel, fraud and risk
management
Pricing For current pricing please contact our sales team:
gateway_sales@mastercard.com, +44 (0) 20 7421 9280
Collecting payments No
Fraud prevention (measures) World class Global Fraud & Risk Management solution comprising real-time, near real-time,
or a combination of both to suit the requirements of any business model and development/
growth strategy. Consumer screening and merchant monitoring capabilities.
Balancing protection with profitability, the end-to-end solution provides businesses the
ability to screen transactions regardless of payment type, currency, channel or geographic
market. Includes extensive screening of non-financial events such as account registrations
and profile amendments.
- Combination of 2 years data and leading technologies supporting intelligent linking,

sophisticated volume, value and change velocities, predictive modelling, behavioral
analysis, vast proprietary databases of global negative and positive lists, verification rules,
validation and authentication.
- Advanced Case Management, Rules Management Interface and Reporting via web-based
interface. Real-time view of all transactional data via pre-built or custom reports
- Fully Managed Solutions provide businesses the option to outsource every aspect of fraud
& risk management:
• Review queue management
• Rules management & optimisation
• Reporting and administration of chargebacks
• All actions around user accounts and back office systems
As part of a multi-layered approach the solution incorporates various Third Party Integrations
such as Perseuss, MasterCard’s EMS (Expert Monitoring System), Electoral databases,
Identity and Age verification, Lost and Stolen databases and many more.
Fraud prevention partners Proprietary in-house solutions
Other services Enhanced hosted checkout experience, hosted pages and tokenization solutions, dynamic
currency conversion, shopping cart integration support, fully integrated fraud management,
wide range of language capability, global payments and sophisticated reporting
management service.
Third parties Contact our sales team for more information.
Technology
Interface Web Services API
Security HTTPS, SSL+, PKI, Digital Certificates for merchant using Java and Unique Customer
Identification which is reset on a yearly basis.
MAKING PAYMENT PROCESSING SAFE, SIMPLE AND SMART
INDuSTRY LEADING OMNI-ChANNEL PAYMENT GATEwAY

& FRAuD MANAGEMENT SOLuTION
Over 45 local payment Extensive global

methods worldwide acquiring network
White label capabilities Maximum data security
Online MObile in-stOre COntaCt Centre KiOsK
Email: gateway_sales@mastercard.com | Tel: +44 (0) 20 7421 9280 | Web: www.mastercard.com/gateway

Company ONPEX View company profile in online database
ONPEX is a Luxembourg-regulated financial institution and SWIFT member operating a PCI-

compliant payment platform. The white-label SaaS solutions meet the highest requirements
for payment gateways and banking. They include acquiring for cards and APMs, payment
accounts with individual IBANs, and advanced cash management.
Website www.onpex.com
Keywords for online profile regulated financial institution, SWIFT member, B2B provider, payment gateway, banking
gateway, online payment, payment processing, multi-currency, PCI, ecommerce, alternative
payments, global acquiring, payment accounts
Contact Sales: sales@onpex.com; General: connect@onpex.com
Geographical presence South America, North America, Europe, Middle East/Africa, Asia/Pacific
Market segment(s) Any
Active since 2013
Service provider type Payment service provider, payment gateway, banking services, acquirer, processor, issuer,
bank
Payment methods
Credit cards MasterCard, Visa, AmEx, Diners, Discover, JCB, China UnionPay
Debit cards Maestro, Debit MasterCard, VPay, Visa electron, Visa Debit
Pre-paid cards All relevant, more information on request.
Online banking Yes, including a Payment Account with BIC and IBAN.
E-wallet All relevant, more information on request.
Mobile / SMS / IVR More information available upon request.
Alternative payment methods All relevant, more information on request.
Offline Global bank transfers and relevant cash collection methods. More information on request.
Connected companies (#) More information available upon request.
Companies PSP is connected to More information available upon request.
Settlement currencies (acquirers) ARS, AUD, BGN, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, ISK, JPY, NOK, NZD, PLN,
RON, RUB, SEK, SGD, UAH, USD, ZAR
Services
Unique selling points One connection to payments: one-contract, global card and APM acceptance (collections,
reconciliation, settlements). Multi-currency payment accounts with Luxembourg IBANs and
BICs (SEPA and SWIFT transactions, real-time transfers, cash management, global netting).
Automated billing and reconciliation. White-label, API-controllable Payment and Banking
Gateways (cards and APMs). PSD2-compliant banking and account management system.
Core services Online payment processing, reconciliation of epayments, access to SWIFT, bank accounts,
white-label banking gateway, white-label payment gateway
Pricing Depends on the solutions and the products.
Fraud prevention (measures) Verified by Visa, MasterCard SecureCode, velocity checks, transaction limit checking, risk
scoring, PEP and CTF checks
Fraud prevention partners DataCheck, FraudPrevent, Webshield, Kount. Other providers on request.
Credit management (services) More information available upon request.
Other services More information available upon request.
Third parties More information available upon request.
Technology
Interface Rest API
Security HTTPS, SSL+, PKI
Payment
Gateway
Synchronized Global Payments

With ONPEX, clients easily synchronise their
payments, ecommerce transaction information
and global banking funds. Unified
Acquiring
ONPEX provides global processing and
collection of card and alternative payments to
PSPs, credit card acquirers, processors,
market places, financial institutions, and
organisations in the payment value chain to
help them expand their payment services
around the world.
Payment
Account
ONPEX white-label solutions include IBAN
payment accounts, processing, collection,
reconciliation, billing, and settlements for or in
the name of its clients.
ONPEX combines SaaS technology with its

financial services to provide end-to-end
payment solutions that accelerate time to Banking
market, grow revenues, and reduce costs. Gateway
The Online Payment Exchange
Technology driven. Partner focused.

Company PayU View company profile in online database
PayU is a leading online payment service provider in 16 high growth markets in Asia, Central
and Eastern Europe, Latin America, Middle East and Africa. Our local expertise enables us to
provide the best solutions for each market. PayU is the e-payments division of Naspers Ltd.,
a multinational media group.
Website www.payu.com
Keywords for online profile PSP, online payments, global payment provier, alternative payments, payment processing,
payment gateway, PCI certified, multi-currency, fraud management
Contact sales@payu.com
Geographical presence Latin America, Europe, Middle East, Africa, Asia
Market segment(s) All industries: retail, coupons, hosting, gaming, services, travel/airline, bill payment, and
more
Active since 2002
Service provider type Payment service provider, payment gateway, acquirer (in certain markets), alternative
payment method
Payment methods
Credit cards Amex, Visa, MasterCard, Diners, Discover, JCB and local co-branded cards
Debit cards Maestro, Visa electron, Visa Debit, MasterCard Debit, Rupay, and many more local brands
worldwide
Pre-paid cards Local brands
Online banking Yes
E-wallet PayU Money, PayPal, QIWI, BKM Express and many more
Mobile / SMS / IVR Call2Assist, Call2Monitor and Call2Pay
Alternative payment methods More than 250 direct connections to local payments worldwide
Offline Bank transfers, Cash on Delivery and cash deposits. Cash payments in: OXXO, 7-eleven,
Boleto, Rapipago, Pagos Facil, Baloto, Efecty, BCP, Super Cash and many more
Connected companies (#) Numerous companies in each country
Companies PSP is connected to A wide variety of major banks, acquirers and technology providers
Settlement currencies (acquirers) EUR, USD, ARS, BRL, CLP, COP, CZK, HUF, INR, MXN, NGN, PEN, PLN, RON, RUB, TRY,
ZAR
Services
Unique selling points PayU is the PSP that provides local expertise in each of the high growth markets where we
operate. Our local expertise, fraud management and direct connections to over 250 local
payment methods allows our merchants to increase their conversion in some of the most
dynamic markets in the world.
Core services Online payment processing, managed fraud services, acquiring, multi-currency
Pricing Flexible pricing options based on requirements and volumes. Please contact us for more
information, sales@payu.com
risk scoring, geo IP-origin check, black/white list, etc.
Fraud prevention partners In-house fraud system, ThreatMatrix, F-Control and more
Credit management (services) Payment in instalments, online void and refund, payment guarantee, buyer guarantee in
some markets, connected to several credit institutions.
Other services Fraud prevention (anti-fraud module and control/monitoring transaction services), POS
solutions, recurring and one click payments using tokenization, customizable payment
pages, mobile payment service, secured IVR, wide range of option payments (credit cards,
bank transfers, cash deposits), interface allows buyers to choose which payment method
they prefer, PCI-DSS compliant, customer service for merchants and consumers, multi-
language and multi currency interface, easy integration with open source shopping carts,
reporting, and many more.
Third parties More information available upon request
Technology
Interface API (WEBServices): RESTful (XML and JSON) WEBCHECKOUT: HTTP POST, SKD for mobile
Security PCI-DSS Level 1 compliance, HMAC, HTTPS, redundant network infrastructure, RSA,
secure platform certified by McAfee & VeriSign, TLS/SSL, Tokenizer, WS-Security, TPM, Data
Centers SAS 70 type II certified, AES, MFA, IDS, WAF
Local experts in 200,000+
fraud management merchants
Certified
Company Payvision View company profile in online database
Awarded with ‘Best Acquirer’ at MPE Berlin 2016 and ‘Best Merchant Acquirer/Processor’
at the 2015 Payments Awards, Payvision is one of the fastest-growing global acquiring
networks in the world. The optimum use of technology provides Payvision clients with
industry-leading reliability, robustness, availability and performance. 24/7 Support, more
than 150 transaction currencies and regional card settlement currencies, a high-end
reporting interface and a solid risk management solution.
Website www.payvision.com
Keywords for online profile Payment solutions provider, global acquiring, cross-border ecommerce, omnichannel,
payment gateway
Contact press@payvision.com, +31 2079 423 00, Netherlands office
Geographical presence New York, Utah, San Francisco, Madrid, London, Singapore, Tokyo, Hong Kong, Macau,
Amsterdam and Toronto
Market segment(s) Online payment processing, cross-border ecommerce, ecommerce
Active since 2002
Service provider type Payment service provider, payment gateway, global card processor, acquirer
Payment methods
Credit cards Amex, VISA, CB, JCB, MasterCard, Diners, Discover, AirPlus
Debit cards Maestro, Giropay, (e)Maestro, Visa electron, Carte Bleue, Visa Debit, China UnionPay, Alipay,
Visa CPC, Debit Mastercard, Carte Bancaire
Pre-paid cards No
Online banking Ideal
E-wallet No
Mobile / SMS / IVR Yes
Alternative payment methods Yes
Offline No
Connected companies (#) Acapture
Companies PSP is connected to 300+ PSPs
Settlement currencies (acquirers) CAD, CHF, CZK, DKK, EUR, GBP, HUF, ISK, JPY, NOK, PLN, SEK, THB, TRY, USD, ZAR,
AUD, HKD, NZD, INR, MYR, SGD
Services
Unique selling points By connecting acquiring banks, international PSPs and ISOs, and their merchants, to
a single Global Acquiring Network, Payvision makes cross-border payments domestic.
Payvision offers a secure PCI-DSS international payment processing platform, availability
runs to 99.999% on the core payments platform. Payvision’s omnichannel package gives
merchants an opportunity to migrate away from their multi-vendor strategies and implement
a totally integrated, end-to-end platform for all their payment processing.
Core services Global card processing, domestic global acquiring, underwriting, fraud/risk monitoring,
interchance optimization, multi currency processing, innovative payment solutions,
alternative payments.
Pricing Blended rate, interchange plus etc.
Fraud prevention (measures) Payvision’s internationally-approved underwriting protocol, with a solid and secure card
payment processing platform and high-end reporting tool, plus the traditional measures like:
IP geolocation, multi-merchant purchase history, global validation checks, Verified by Visa,
MasterCard SecureCode, velocity checks, data validation, geographical checking, parameter
format checking, transaction limit checking, geo IP-origin check, black/white list.
Fraud prevention partners In-house solutions
Credit management (services) Credit transactions, receivables management, online void and refund
Other services Mobile payment systems
Third parties Acapture
Technology
Merchant pages (direct model) No
Interface Web services using SOAP or HTTP POST, HTTP POST for CheckOut, file using Payvision
API sent via FTP for BatchProcessor
Security PCI-DSS compliant
Company PostFinance AG View company profile in online database
PostFinance’s epayment solution makes it easy for you to collect online shop payments.
Customers pay for their purchases online or on their mobile phone, making invoices
superfluous.
Website www.postfinance.ch
Keywords for online profile PSP, online, payment, Switzerland, virtual, shop, easy, connect
Contact merchanthelp@postfinance.ch, +41 848 382 423
Geographical presence Europe and more than 250 acquiring connections worldwide
Market segment(s) insurance, telecom, utilities, ticketing, charity, education, internet, publishers, auction,
gaming, retail, travel
Active since 1906
Service provider type Payment service provider, payment gateway
Payment methods
Credit cards Visa, MasterCard, American Express, Diners Club, JCB, UATP, AirPlus, Cofinoga, Discover,
Aurore
Debit cards PostFinance Card, Maestro, Solo, Laser Card, Visa Electron, Bancontact/Mister Cash,
Carte Bleue, Dankort, EPS, iDeal, ELV
Pre-paid cards Wallie-card, Paysafecard, Cash-Ticket
Online banking PostFinance E-Finance, ING Hompeay, KBC, CBC, Dexia DirectNet, Centea
E-wallet Checkout by Amazon, PayPal, TWINT
Mobile/SMS/IVR mPass, V.me
Alternative payment methods RatePay, Klarna, AfterPay, Billpay, TWINT, collect
Offline Bank transfer, payment by e-mail
Connected companies (#) More information available upon request
Settlement currencies (acquirers) More information available upon request
Services
Unique selling points Fraud management tools, support 24/7
Core services Online payment processing, fraud prevention
Pricing For current pricing, see our company profile at: https://www.postfinance.ch/en/biz/prod/
eserv/epay/providing/offer.html
Collecting payments More information available upon request
Distributing payments More information available upon request
Fraud prevention (measures) PCI DSS, 3D Secure, blocking rules and filters, scoring module
Fraud prevention partners Ethoca, Perseuss
Credit management (services) More information available upon request
Other services Merchant account facilitation
Third parties Specific industry solutions partners: Amadeus, Sabre Airline Solutions, Radixx, micros
fidelio, Ticketscript Shop software connectors: Magento, ePages, XT Commerce, OS
Commerce
Technology
Interface Saas
Security HTTPS, SSL+, PCI-DSS Level 1
Company PPRO Group View company profile in online database
The PPRO Group, ‘The Payment Professionals’, offers PSPs and financial institutions a wide
range of international payment schemes enabling the processing of electronic payments on
a global scale through one contract and one simple integration. PPRO products and services
span the entire payments value chain from acquiring through processing and issuing.
Website www.ppro.com
Keywords for online profile payment gateway, electronic payment, payment processing, e-money, ecommerce,
alternative payments, acquiring, prepaid cards, payment hub
Contact Phone +442030029170, Fax +442030029179, Email: info@ppro.com
Geographical presence North America, Latin America, Europe, Middle East & Africa, Asia-Pacific
Market segment(s) Retail, travel, gaming, auction, other
Active since 2006
Service provider type E-money institution, payment service provider, payment gateway, acquirer, processor, issuer,
alternative payment methods, payment hub
Payment methods
Credit cards Visa, MasterCard, Diners, Argencard, Cabal, Cencosud, Naranja, Nativa, Tarjeta Shopping,
MercadoLivre, Elo, Hipercard, Aura, Cartao Mercado Livre, CMR, Magna, Presto
Debit cards Maestro, Girocard, Visa electron, Bancontact/Mister Cash
Pre-paid cards Viabuy, Crosscard, Fleetmoney, paysafecard, AstroPay Card, open and closed loop cards
Online banking Instant Transfer, Giropay, iDeal, EPS, P24, Poli, Postfinance, Trustpay, Safetypay, Astropay
Direct, Trustly, FINNISH ONLINE BANKING, MyBank, Bank Transfer, Sofortüberweisung,
QIWI payout, International pay-out, SEPA payout, Banco AV Villas, Banco Caja Social,
Banco Consorcio, Banco Cooperativo Coopcentra, Banco Corpbanca, Banco de Bogotá,
Banco de Chile/Edwards Citi, Banco de Occidente Banco do Brasil, Banco Falabella, Banco
Falabella, Banco GNB Sudameris, Banco International, Banco Pichincha, Banco Popular,
Banco Procredit, Banco Ripley, Banco Santander, Banco Santander Banefe, Banco Security,
BancoBice, BancoEstado, Bancolombia, Bancoomeva, BBVA, BCI-TBANC, Bradesco,
Citibank, Colpatria, Coopeuch, Corpbanca, Danske Bank, Entercash, Aktia, Ålandsbanken,
Handelsbanken, Helm Bank, Itau, Nordea, Oma Säästöpankki, Osuuspankki, POP Pankki,
PSE, Santander, Santander Rio, Scotiabank, S-Pankki, WebPay
E-wallet Alipay, Skrill, Qiwi, Zimpler (formerly PugglePay)
Mobile/SMS/IVR Bancontact/MisterCash, iDEAL, Instant Transfer; Paysafecard, Poli, PugglePay, Qiwi,
Safetypay, Skrill, Sofort, Trustly, Trustpay
Alternative payment methods Alternative payment methods for more than 100 countries
Offline Boleto Bancario, Ticket OnLine, teleingreso, Multibanco, Pago Fácil, Rapi Pago, Ripsa,
Cobro Express, Link, Provincia NET, Davivienda, Efecty, Banamex, Santander – Mexico,
OXXO, Bancomer, BCP, interbank, redpagosBaloto, Banamex, Banco de Chile, Banco de
Occidente, Carulla, Dinero Mail by PayU, Empresa de Energía del Quindio, Link, redpagos,
Servipag, Surtimax
Connected companies (#) More than 65 payment methods
Companies PSP is connected to Alipay, Worldline, POS Transact, AIB Merchant Services, Trustpay, Allied Wallet, iDeal
(acquirer), Bancontact, MasterCard, Visa, Raberil, WorldPay, CompuTop, Sage Pay,
eMerchantPay, SafetyPay, Lateral, Safecharge, Qandy and more
Settlement currencies (acquirers) AUD, BGN, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, JPY, NOK, NZD, PLN, RON, SEK,
TRY, USD, ZAR
Services
Unique selling points Single contract and one integration for full range of international alternative payment
schemes/enabling pay-in through all popular payment methods/collection and reconciliation
competency/technical processing solutions via a single integration/FCA licensed e-money
institution/full range of issuing services for debit and prepaid cards/open- and closed loop
cards/PCI compliance/Visa and MasterCard Principal Member
Core services Aquiring, issuing, processing, e-money
Pricing N/A
Fraud prevention (measures) - internal and external risk systems
- manual monitoring done by risk experts
Fraud prevention partners Schufa, Infoscore, Intrum Justitia, Crif, Bürgel, Experian, Keesing Technologies,
Deutsche Post, EOS, webID
Other services VIABUY, Crosscard, Fleetmoney, InstantTransfer
Third parties N/A
Technology
Interface Web services (specifications available upon request); simple integration, unified interface for
all payment types
Security HTTPS, TLS, PKI, PCI DSS
Expanding into new
e-commerce markets?
When your merchants expand into a new market, they need to know what makes it tick. PPRO is here to
help. We’re the experts in alternative e-payment methods. For PSP and acquiring partners worldwide, we
cover the full value chain: from processing, local collection, and reconciliation to settlement.
To help you help your merchants succeed, we’ve distilled our global knowledge of local payment cultures
and shopper preferences into a series of free e-commerce reports. Full of inside intelligence on the world’s
fastest growing online markets in Asia, Latin America, Western and Eastern Europe, these reports are free to
download.
More will
n!
follow soo
Make informed decisions.

Download the PPRO Regional E-commerce Reports today:
www.ppro.com/reports
Company QIWI PLC View company profile in online database
QIWI (NASDAQ:QIWI), a leading payment service provider in Russia and CIS. We provide
online/offline payment solutions for all types of merchants worldwide. Our integrated
network of POS, virtual wallets and payment channels enable consumers to deposit cash,
convert it into a digital form and remit funds to a virtual wallet.
Website corp.qiwi.com
Keywords for online profile payment gateway, PSP, P2P, multi-currency, ecommerce, virtual wallet, internet acquiring,
money remittance
Contact Ruslan Mannanov, International Business Development (r.mannanov@qiwi.ru)
Nadezhda Shestakova, Head of Sales and Business Development,
E-services (n.shestakova@qiwi.ru)
Victoria Kiyachenko, Head of International Development (V.Kiyachenko@qiwi.ru)
Geographical presence Europe, North/Latin America, Middle East/Africa
Market segment(s) Retail, travel, gambling, gaming, betting, Forex, telecom
Active since 2007
Service provider type Payment service provider, payment gateway, acquirer, processor, issuer, bank, alternative
payment method
Payment methods
Credit cards MC, VISA
Debit cards Maestro, MC, VISA, Visa Electron
Pre-paid cards Yes
Online banking Yes
E-wallet Visa QIWI Wallet (VQW)
Mobile/SMS/IVR Mobile
Alternative payment methods E-wallet (VQW)
Offline Bank transfers in most European countries, kiosks for cash-in
Connected companies (#) Contact, Rapida
Companies PSP is connected to WorldPay, Adyen, Global Collect
Settlement currencies (acquirers) EUR, USD, RUB, KZT
Services
Unique selling points Physical distribution represented by QIWI kiosks, and virtual distribution represented by Visa
Qiwi Wallet. So far, the company has successfully deployed around 17 million virtual wallets
and around 170,000 kiosks and terminals, and has processed over USD 1.03 billion in cash
and electronic payments from over 70 million people.
Core services E-wallet, self-service kiosks for cash-in
Pricing Category-based
Fraud prevention (measures) Device fingerprinting, IP geolocation, multi-merchant purchase history, Verified by Visa,
MasterCard SecureCode, persistent cookies, data validation, geographical checking,
parameter format checking, transaction limit checking, risk scoring, geo IP-origin check,
black/white list
Fraud prevention partners In-house system (IRIS)
Credit management (services) purchase on credit, credit scoring, credit control, receivables management, online void and
refund, purchase on credit, payment guarantee
Other services N/A
Third parties Extended industry-specific integration options
Technology
Batch processing N/A
Interface Web, mobile, desktop
Company Saxo Payments View company profile in online database
Saxo Payments provides a secure web-based platform for cross-border transfers and
foreign exchange services. Used by payment acquirers, payment service providers,
FX brokers, e-wallets and alternative payment providers, the Saxo Payments Banking Circle
provides a seamless conduit for multi-currency banking transfers anywhere in the world.
Website www.bankingcircle.com
Keywords for online profile Low cost fast cross border global fx transfers
Contact Miranda McLean, mm@saxopayments.com
Market segment(s) PSPs, acquirers, online payments, payment processing, cross-border global payments, FX,
Forex, multi-currency transfers, PCI, ecommerce, alternative payments
Active since 2013
Service provider type Payment service provider platform
Payment methods
Credit cards More information available upon request.
Debit cards More information available upon request.
Pre-paid cards N/A
Online banking Transfers available in most countires and most currencies.
E-wallet N/A
Mobile / SMS / IVR N/A
Alternative payment methods N/A
Offline N/A
Connected companies (#) Allied Wallet, Credorax, FC Exchange, First Data, Oracle, SafeCharge, Tramonex, Tuxedo
Financial Solutions, Valitor
Companies PSP is connected to Allied Wallet, Credorax, FC Exchange, First Data, Oracle, Safecharge, Tramonex, Tuxedo
Financial Solutions, Valitor
Settlement currencies (acquirers) AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, MXN, NOK, NZD,
PLN, RON, RUB, SAR, SEK, SGD, TRY, USD, ZAR
Services
Unique selling points The Banking Circle enables cross-border transfers to happen in seconds, at very low
cost, in multiple currencies and in a secure cloud-based environment. Payment service
businesses can add value to their proposition by joining the Banking Circle and offering
own-branded global banking services to their merchants.
Core services Low cost cross border transfers, fx trading
Pricing Contact Saxo Payments for pricing details – www.bankingcircle.com
Fraud prevention (measures) Operating on the Oracle FLEXCUBE, the Banking Circle offers all the necessary fraud
prevention and regulatory compliance.
Fraud prevention partners More information available upon request.
Other services More information available upon request.
Third parties Oracle
Technology
Merchant pages (direct model) No
Interface Web services, SOAP, XML (specifications available upon request)
Security Operating on the Oracle FLEXCUBE, the Banking Circle offers all the necessary fraud
prevention and regulatory compliance.
Freedom to
trade globally.
ARE YOU SATISFIED …

WITH YOUR CROSS BORDER TRANSFER SERVICE?
Join the Saxo Payments

Banking Circle for faster,
lower-cost global banking
44% 48% 63% 4 Make or receive cross border

transfers instantly
4 Access low priced FX
4 Open IBAN accounts in 25+
currencies
of businesses don’t get are not satisfied with are not satisfied with 4 Offer own-branded banking
a competitive FX rate the service charge the time it takes services to your merchants
For more information visit www.bankingcircle.com

Company Secure Trading View company profile in online database
Secure Trading, founded in 1997, is an integrated payments services company – a single

point of contact for card acquiring, payment processing, PCI compliance and cyber security
services. With both card acquiring services and payment processing we provide businesses
with a true end-to-end payment solutions across the entire payments journey.
Website www.securetrading.com
Keywords for online profile payment gateway, PSP, online payment, payment processing, multi-currency, PCI,
compliance, cyber security, ecommerce, alternative payments, acquirer, merchant services,
acquiring solutions, end to end payment solutions, one stop shop, fraud management,
multiple payment options, optimised payment pages, cross boarder merchant services,
increase conversion rates, 100% uptime record
Contact sales@securetrading.com, +44(0) 808 301 85 49
Geographical presence North America, Europe, Africa
Market segment(s) Ecommerce, gaming, digital entertainment, government services and education, financial
services
Active since 1997
Service provider type Integrated payments services company - a single point of contact for card acquiring,
payment processing, PCI compliance and cyber security services.
Payment methods
Credit cards Amex, MasterCard, VISA, Discover, JCB
Debit cards Maestro, Visa electron, Visa Debit, Visa CPC, Debit Mastercard
Pre-paid cards Ikano Card, AstroPay Card
Online banking Yes
E-wallet PayPal
Mobile / SMS / IVR More information available upon request
Alternative payment methods Paysafecard, Sofort, EPS, Giropay,POLi, AliPay, Yandex, Qiwi
Offline N/A
Connected companies (#) #30 acquirers
Settlement currencies (acquirers) AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, JPY, NOK, NZD, PLN, SEK, USD, ZAR, HUF,
RUB
Services
Unique selling points One relationship, one partner
One stop shop
Chargeback and fraud management
Multiple payment options
Mobile optimised payment pages
Cross-border merchant services
Accepting payments all over the world
Increase conversion rates
100% uptime record
PCI DDS Compliance
Multi-currency payment solutions
Call centre and Interactive Voice Response (IVR)
Online payment gateway
Virtual terminal card processing
Card store and tokenisation
Merchant account services
Online accounting and back-office reconciliation
International logistics and shipping
Core services Card acquiring, payment processing, PCI compliance and cyber security services.
Pricing Competitive Rates / Cost Transparency
Collecting payments No
Distributing payments No
risk scoring, geo IP-origin check, black/white list, etc.
Fraud prevention partners ReD (ACI)
Credit management (services) More information available upon request.
Other services Cyber-security
Third parties More information available upon request.
Technology
Batch processing More information available upon request.
Per order processing More information available upon request.
Interface Web services, XML
Company Smart2Pay View company profile in online database
Smart2Pay is a licensed payment service provider offering card processing and alternative,
non-reversible online payment methods (online bank transfer, wallets, vouchers, mobile
payments, local cards). With a new frictionless payment product Smart2Pay allows
merchants to collect funds from customers locally in over 80 countries by signing 1 single
contract and 1 technical interface that can be completed within 1 week.
Website http://www.smart2pay.com
Keywords for online profile PSP, online payments, alternative payments, frictionless payment product, guaranteed,
flexible, custom pay-flows
Contact James Flinterman – CEO, james@smart2pay.com
Stefan Lancu – CTO, stefan@smart2pay.com
Geographical presence Worldwide, Latin America, EMEA, Asia/Pacific, North America
Market segment(s) Games, airlines, travel, retail, general eccommerce
Active since 2002
Service provider type Payment service provider, licensed payment institution
Payment methods
Credit cards MasterCard, Visa, JCB, Amex, Diners, UnionPay, Sorocred, Aura, Hipercard, etc.
Debit cards CarteBleue, Maestro, Visa Electron, Discover, eTranzact, Verve etc.
Pre-paid cards PaySafeCard, OneCard, CashU, ToditoCash, Webmoney Japan, Mangirkart etc.
Online banking Yes (currently we cover over 50 different countries)
E-wallet Wechat, Alipay, Tenpay, Paypal, Skrill, QIWI, Webmoney, Yandex, Mercadopago, Dineromail,
Paysera etc.
Mobile / SMS / IVR Mobile options in 80 countries, Mobile Money, Globe GCash, Beeline, MTS, Megafon, Tele2,
Indosat Dompetku, T-Cash, etc.
Alternative payment methods Over 170 payment methods in over 80 countries
Offline Bank Transfer in more than 30 countries.
Connected companies (#) #35 card acquirers, over 100 alternative payment methods.
Companies PSP is connected to Various
Settlement currencies (acquirers) Various
Services
Unique selling points 1 Contract + 1 Interface = Collect Worldwide. Smart2Pay lets you collect payments via all
possible means of payment from over 80 countries; easy, secure and reliable, with only
1 contract and a 1 week integration.
Core services Online payment processing with: customizable payment flows, mobile optimized payment
pages, customizable UI, dynamic currency conversion, fraud prevention, conversion
analytics. Our in-house IT team will provide flexibility like no other. For easy integration
we also offer Magento, OpenCart, PrestaShop, WooCommerce plugins and PHP/SDK for
custom framework integration.
Pricing Pricing is negotiated on a case by case basis.
Fraud prevention (measures) IP geolocation, multi-merchant purchase history, global validation checks, data validation,
parameter format checking, transaction limit checking, risk scoring, geo IP-origin check,
black/white list, device identification, etc.
Fraud prevention partners ACI Worldwide
Credit management (services) Credit management is not available.
Other services Please contact us for detailed information.
Third parties Please contact us for detailed information.
Technology
Interface Web services, SOAP, HTML FORM POST, REST (https://docs.smart2pay.com)
Security HTTPS, SSL+, hash strings, inhouse developed tools, RedShield, Iovation, PCI DSS level 1
v3.1
Company Transaction Network Services Inc View company profile in online database
TNS has been a trusted provider to the payments industry for over 20 years. TNS’
broad portfolio of solutions includes secure resilient transaction delivery, encryption,
and tokenization services used by the top banks and processors globally. TNS provides
innovative managed payment network services and connectivity to white-label partners and
leading international merchants
Website www.tnsi.com
Keywords for online profile payment network, payment processing, PCI DSS, alternative payments, connectivity,
SIM management, encryption, tokenization
Contact solutions@TNSI.com
Geographical presence North/Latin America, Europe, Asia/Pacific
Market segment(s) Banks, financial institutions, ISOs, acquirers, processors, PSP’s, merchants, gaming, retail,
travel, alternative payments, other
Active since 1990
Service provider type Full service payment provider
Payment methods
Credit cards American Express, VISA, JCB, MasterCard, Diners Club International, Discover, China
UnionPay
Debit cards Maestro, Visa Electron, Carte Bleue, Visa Debit, MasterCard Debit
Pre-paid cards None
Online banking No
E-wallet Masterpass, PayPal, Visa Checkout
Mobile/SMS/IVR Mobile and IVR
Alternative payment methods PayPal, GiroPay, Sofortbanking
Offline PayPal, GiroPay, Sofortbanking
Connected companies (#) Network connectivity to over 400 major acquirers, processors, banks and card schemes
globally
Companies PSP is connected to Connectivity to 3rd party fraud providers, DCC providers, and other value-added services
Settlement currencies (acquirers) Support for 140 currencies (settlement currencies dependent on acquirers)
Services
Unique selling points TNS enables you to reach the global payments marketplace with just one connection. TNS
offers a complete array of secure, reliable and flexible network connectivity and value-added
services that simplify complex payments infrastructures, enabling you to conduct business
with virtually any partner anywhere in the world.
Core services TNS’ range of connectivity and managed payments services enable merchants to securely
process transactions with major banks, acquirers and processors. We are at the cutting
edge of new technologies and include encryption and tokenization solutions within our
portfolio, and we can accommodate new forms of payment, such as mobile wallets, private
label and loyalty schemes
Pricing For further information email solutions@TNSI.com
Fraud prevention (measures) Built-in support for 3DS, AVS, CSC/CVV. Integration to 3rd Party Fraud Management
services. Support for EMV, Point-to-Point Encryption (P2PE,) and tokenization
Fraud prevention partners Accertify, Trustwave, VeriFone, Ingenico
Other services Tokenization, dynamic currency conversion, reporting API, merchant boarding API, batch
processing, POS, encryption, host-to-host connectivity, ATM connectivity, mobile POS
terminal SIMs, roaming SIM management
Third parties N/A
Technology
Interface REST-based web services API
Security HTTPS, SSL+, PKI, PCI DSS certified backbone network, dedicated security and risk teams,
file integrity monitoring, industry standard encryption, Intrusion Detection Systems (IDS),
vulnerability management
Company Trustly View company profile in online database
Trustly is a Swedish technology company, developing and selling online and mobile payment
solutions for both B2C and P2P payments. Trustly is a Pan-European online banking
payment solution with coverage in 29 European markets. Trustly is a licensed Payment
Institution under the supervision of the Swedish Financial Supervisory Authority.
Website https://trustly.com/
Ownership Privately owned by founders, Alfvén & Didriksson firm, Bridgepoint Development Capital,
employees and private investors
Business model Payment service developer and provider, PSP
Keywords for online profile Mobile payments, online payments, e-payments, payment initiation services, P2P payments,
OBeP, online banking payments
Contact Stefan Backlund, Head of Marketing and Communications – stefan.backlund@trustly.com
+46708628489
Geographical presence Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland,
Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands,
Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, UK
Main client industries Ecommerce, travel, financial services, gaming, marketplaces
Active since 2008
Service provider type Bank payment service developer, payment provider, PSP
Payment type
Debit card No
Online Banking enabled Payment Yes
E-wallet No
After payment No
Escrow Yes
Prepaid No
Other channels
Offline No
Mobile Yes
Online to offline Yes
Services
Unique selling points Safety – Secure bank payments with strong authentication, no chargeback risk once settled
Convenience – Easy sign-up, multiple markets and banks, integrated reconciliation through
one integration and agreement, mobile ready.
Increased conversion – The preferred payment method in many countries, recovers
transactions denied due to credit or debit limits on cards, the customer pays without leaving
the merchants website.
Core services Online payment processing, reconciliation information (web), risk-assesments with
P2P payments
Multi-currency/Dynamic currency List currencies (EUR, SEK, NOK, DKK, GBP, USD, PLN)
conversion
Chargeback/Refund options Yes
Buyer protection policy No
Pricing Per transaction percentage and/or fixed, varies depending on volume, for further details
please contact us.
Fraud prevention (measures)/Risk Full risk management system including: Data Checks, Comparison Checks, Velocity Checks,
management Financial background checks etc.
Fraud prevention partners None, all inhouse.
Acceptation criteria (sign-up Typically standard KYC information is gathered (ID check, company registry, bank account
process) number verification etc.) Each customer is assessed individually.
Other services Additional financial services, currency handling, remmittance
Future developments Additional coverage - markets and banks, all available directly to merchants, no need to
re-integrate. Future authentication methods added seamlessly.
Technology
Integration technology All covered markets native languages supported
Integration support API manual online, designated integration support, plugins for web shops
Transactions volume
Number of transactions (per year) 14 million
Transactions value 1,7 billion EUR
Company Wirecard AG View company profile in online database
Wirecard AG is one of the world’s leading independent providers of outsourcing and white
label solutions for electronic payment transactions. Wirecard`s global multi-channel platform
bundles international payment acceptances, methods and fraud prevention. Wirecard
provides companies with an end-to-end infrastructure for issuing products, including the
requisite licenses for card and account products.
Website www.wirecard.com
Keywords for online profile ecommerce, mobile payment, risk management, acquiring, issuing, credit cards, online
banking, POS payment processing
Contact sales@wirecard.com I +49 89 4424 1400
Geographical presence Europe, Middle East/Africa, Asia/Pacific
Market segment(s) Airlines, hotels, travel sites, travel agents, cruise lines, mail order, TV shopping, brick and
mortar shops, direct sales, distributions, downloads (music/software), sports betting, poker,
casino, games, MNO, financial institutions
Active since 1999
Service provider type Payment service provider, global payment gateway, issuing processing platform, mobile
wallet platform, acquirer, processor, issuer, bank, call center
Payment methods
Credit cards Visa, MasterCard, American Express, JCB, UATP, Diners International/Discover, UnionPay
Debit cards Maestro, (e)Maestro, Visa electron, Dankort, Laser, Delta, Carte Bleue, CartaSi, Postepay,
Visa Debit, UnionPay, Chinapay, Visa CPC, Debit Mastercard, Carte Bancaire, Chinese debit
cards, Carte Blanche and more. For more information contact us.
Prepaid Cards/Vouchers mywirecard 2go Visa, mywirecard MasterCard, paysafecard, Boleto Bancário
Online Banking giropay, SofortBanking, eps, Bancontact/MisterCash, iDEAL, Przelewy24, eKonto/ePlatby,
POLi, Maybank2u, CIMB Clicks, Debito Bradesco, Tatrapay, Transferencia Bradesco, Trustly,
Skrill Direct, Euteller and more. For more information contact us.
(E-) Wallets Apple Pay, PayPal, Skrill Digital Wallet, ‪Moneta.ru, YandexMoney, MercadoPago, Alipay
(cross-border), MasterPass, ePay.bg, and more. For more information contact us.
Direct Debit/Credit Transfers SEPA Direct Debit, Guaranteed Direct Debit, SEPA Credit Transfer
Mobile / SMS / IVR paybox, Yapital, mpass, PremiumSMS
Offline Payment on invoice, payment in advance, payolution, guaranteed payment on invoice,
guaranteed installment payments, Klarna, wire transfer to virtual bank accounts, bank
transfers worldwide and more. For more information contact us.
Connected companies (#) Wirecard Bank AG (Multi-Regional Acquirer) and all major acquirers worldwide, partnerships
or interfaces with industry-specific service providers
Companies PSP is connected to All major acquirers and banks worldwide
Settlement currencies (acquirers) All relevant transaction and settlement currencies
Services
Unique selling points Centralization of payment transactions from many and various distribution and procurement
channels on a single platform, combination of software technology and bank products,
global gateway for all services, covering the whole value chain with own bank (multi-brand
acquirer), multi-national payment acceptance and settlement, innovative software-based
banking products (SCP-virtual credit cards, payout cards, co-branded cards)
Core services Payment gateway, online/mobile/POS/onboard payment processing, fraud and risk
management, batch processing, in- and outbound connectors, key management and
protocol conversion, virtual terminal, acquiring services, payment acceptance, issuing
of innovative card-based payment solutions + prepaid cards, mobile payment solutions,
co-branding solutions, financial services like banking, currency management, reconcilliation,
call center
Pricing Flexible prizing models, depending on requirements and volumes.
Fraud prevention (measures) Full risk management system including data analytics, automated pattern detection, decision
logic, case management, transaction check (account validation, address verification, hotlists
(blacklists, whitelists, graylists), velocity checks, IP geolocation, IP/BIN check, consumer
check (credit scoring, address validation and verification, age verification, identity check,
sanction list screening), 3D-Secure (Verified by Visa, MasterCard SecureCode, CUP-Secure)
CVC verification, device fingerprinting, AVS and more.
Fraud prevention partners Interfaces to various 3rd party providers
Credit management (services) Purchase on credit, credit scoring, credit control, receivables management, online void and
refund, purchase on credit, factoring, payment guarantee, etc.
Other services Strategy management & decisioning solutions, consumer identification & credit rating
(integration to various credit agencies), Point-of-Sale payment processing and acquiring,
call center services (stationary, virtual and hybrid), issuing bank: co-branded prepaid cards
(Visa and MasterCard), payout cards, virtual card supplier payout solution
Third parties Extended industry-specific integration options
Technology
Interface Web services, REST, SOAP, HTTPS/XML, ISO8583, various batch file formats (specifications
available upon request)
Security HTTPS, SSL+, sFTP, PGP encryption
Company Worldline View company profile in online database
Worldline is the European leader and a major global player in the payments and transactional
services industry. Worldline contributes to provide a seamless and innovative transactional
experience to the end users. Worldline activities are organised around three axes: merchant
services and terminals, mobility and e-transactional services, financial processing and
software licensing.
Website www.worldline.com
www.worldline.com/blog
www.worldline.com/twitter
www.worldline.com/youtube
Keywords for online profile payment gateway, PSP, online payment, payment processing, ecommerce, acquiring,
cross-channel, digital
Contact infoWL@worldline.com
Geographical presence Operating in over 17 countries: France, Spain, UK, Benelux, Germany, Austria, India,
Asia Pacific, Latin America
Market segment(s) Banking, financial services and insurance, telecom and media, industry utilities and services,
public sector and health, retail, transport
Active since 1996
Service provider type Payment service provider, payment gateway, alternative payment method, acquirer,
processor
Payment methods
Credit cards MasterCard, Visa, CB, Amex, JCB, Cofinoga, Aurore, Diners and others
Debit cards Bancontact/Mister Cash, Maestro, Giropay, BCMC, Visa electron, Carte Bleue, Visa Debit,
China UnionPay, Debit Mastercard
Pre-paid cards Chèque Déjeuner
Online banking iDEAL, BVN, MyBank, Sofort, EPS
E-wallet PayPal, Paylib, MasterPass
Mobile / SMS / IVR Mobile, SMS and IVR
Alternative payment methods Bitcoins, Credit Transfer, Direct Debit, online credit (1euro.com)
Offline More information available upon request
Connected companies (#) Over 50,000 merchants
Companies PSP is connected to Acquirers, PSPs, ecommerce solution
Settlement currencies (acquirers) EUR, USD, GBP, CHF, CNY, CZK, DKK, EEK, EUR, HUF, ISK, LTL, LVL, NOK, PLN, SEK,
SKK, TND, TRY, UAH
Services
Unique selling points At Worldline, connecting and securing transactions is what we do every day. With
our technological expertise we connect the worlds of electronic banking, mobile and
ecommerce, and provide connected services via secured networks that are available almost
everywhere.
Core services Payment transaction processing, acquiring/issuing, online payment, credit and debit cards
management, payment terminals, connected machines, connected cars, omni-commerce,
innovative payments, SEPA, eBanking, call centre, prepaid cards
Pricing For more details, please contact us
Fraud prevention (measures) IP geolocation, 3D Secure, Verified by Visa, MasterCard SecureCode, SafeKey, geo IP-origin
check, black/white list, velocity checks, geographical checking, transaction limit checking,
risk scoring, multi-merchant purchase history, data validation, parameter format checking,
global validation checks
Fraud prevention partners ReD, Arvato Infoscore
Credit management (services) Payment in instalments, deferred payment, split payments
Other services One-click payment, payment page customization, eDCC, cash management, reporting,
mobile devices, secured IVR
Third parties This information is not yet available
Technology
Interface Web services, SOAP, Rest, XML, API
Security HTTPS, SSL+, PKI, tokenizer
Company Worldpay View company profile in online database
Worldpay is a leader in global payments, providing a broad range of technology-led

solutions to its merchants, enabling them to accept 326 alternative payment methods,
across multiple payment channels, nearly anywhere in the world.
Website www.worldpay.com
Keywords for online profile ecommerce, omni-channel payments, card payments, online payment gateway services,
mobile payments, treasury services, data and analytics, payment optimisation
Contact +44 (0)845 301 6251
Local numbers available on www.WorldPay.com
Geographical presence Global: North America, LATAM, APAC and EMEA
Market segment(s) Airlines, digital content, travel, video games, gambling, retail
Active since 1993
Payment methods
Credit cards Visa (incl. VbV), MasterCard (incl. MCSC), American Express, Diners, JCB, Discover and
UnionPay.
Debit cards Visa Debit, Visa Electron, Debit MasterCard, UnionPay, Paga Verve, MisterCash and Carte
Bleue/Carte Bancaire.
Pre-paid cards paysafecard, Astropaycard, Neosurf, Postepay, Ticketpremium, Toditocard.
Online banking Real Time Bank Transfer, iDEAL, Sofort Banking, Giropay, Poli, Przelewy 24, BPay,
SafetyPay, Unionpay, Euteller, Dineromail, Trustly, eNets
E-wallet Alipay, PayPal, QIWI, YandexMoney, CashU, MasterPass, Moneta, Webmoney, Paga Wallet
Mobile / SMS / IVR Apple Pay, Boku
Other alternative payment Klarna, SEPA payments, Boleto Bancario
methods
Connected companies (#) More 50 acquirers
Companies PSP is connected to More 50 major acquirers and banks worldwide
Settlement and gateway AUD, CAD, DKK, CZK, EUR, HKD, HUF, JPY, NZD, NOK, PLN, SGD, ZAR, SEK, CHF, GBP,
currencies AED, USD
Services
Unique selling points Worldpay is one of the few global businesses able to offer functionality in most aspects of
payment acceptance, whether in-store, online or on a mobile device, by providing access to
a global payments network through an integrated, agile, secure, reliable and highly scalable
proprietary global payments platform. Worldpay serves a diverse set of merchants across a
variety of end-markets, sizes and geographies. On a typical day, it processes approximately
31 million mobile, online and in-store transactions worldwide, offering access to 326
payment methods in 126 transaction currencies across 146 countries, while supporting
approximately 400,000 merchants, including large enterprises and domestic corporates and
approximately 377,000 small and medium sized businesses. The Company also partners
with innovative and fast-growing ecommerce businesses, including many of the world’s
most renowned and dynamic online brands.
Core services Payment gateway, acquiring, foreign exchange, alternative payments, fraud and risk
management
Pricing Based on requirements. Visit www.WorldPay.com for further information.
Fraud prevention (measures) Tiered risk management services to suit merchants from all industry sectors including: risk
management experts to assist merchants in creating fraud prevention strategies, screening
systems to automate detection and prevention in real-time; age and identity checking;
Industry specific checks (for example airlines and travel); an award winning automated
chargeback management system; proven track record of minimising fraud for large
enterprises without impacting on good business.
Fraud prevention partners Experian, MaxMind
Credit management (services) Full Range
Other services Treasury, Corporate Global Banking and Cash and Liquidity Management
Technology
Interface HTML, XML (specs on request), Web Services (SOAP), numerous shopping carts, increasing
numbers of CRM systems.
Security HTTPS, SSL+, PCI DSS Compliant
Glossary
Glossary
A
3D secure Acquirer
3D Secure (3DS) is the programme jointly developed by Visa The financial institutions that directly or indirectly enter into
and MasterCard to combat online credit card fraud. Cardholders contractual relationships with merchants for the acceptance
introduce their password to verify their identity whenever they of plastic cards as a form of payment and for maintaining and
make an online purchase. E-merchants willing to offer this security servicing such relationships.
service to their customers must be registered as a participating
merchant in the programme. Only cardholders registered at Verify Acquiring Scheme Member
by Visa or MasterCard SecureCode can actually be requested to A licenced member of MasterCard and/or Visa who receives
verify their data when purchasing online. all bank card transactions from the Merchant (the entity that
sells goods or services in an online or physical environment
Access Card sometimes referred to as a Retailer) or Merchant Aggregator
A plastic card used in an automated teller machine (ATM) to (an entity that pools transactions from retailers to pass through
complete deposits, cash withdrawals, account transfers, and for acceptance), and initiates that data into the Scheme for
other related account functions. settlement. Holds the regulatory and financial obligations for the
Merchant.
Access Device
A plastic card with a Magnetic Stripe or Chip, or another Form Activation
Factor that facilitates access to prepaid funds, enabling a The process of enabling a card for use. Generally, payment cards
Cardholder to obtain goods, services or cash from a Merchant. cannot be used until they are activated. For Gift Cards this is
usually done at the Point-Of-Sale (POS), when the card is first
Account History purchased or loaded with funds. For Network Branded cards,
The payment history of an account over a specified period, Activation is usually carried out online or with the assistance of a
including the number of times the account was past due or over Value-Added Retailer (VAR) or via a mobile text message (SMS).
the credit limit. Activation of cards ordered via the internet or sent through the
post can be deferred to take place automatically on a specific
ACH date or can be activated on receipt to ensure safe delivery and
The paperless funds transfer system maintained by the Federal prevent fraudulent use.
Reserve and other approved operators that utilises electronic
networks to exchange funds transfer items. Also called automatic Activation Point
cheque handling. A device located in a retail location where cards (this is usually
a service offered for Prepaid Cards) can be activated or loaded
ACH Network with funds.
The Automated Clearing House (ACH) Network facilitates
commerce, electronically, by serving as an efficient, reliable and Agent

secure payments system. NACHA, led by member depository An entity that acts as a Third Party, for a Prepaid Card Issuer,
financial institutions and payments associations, fulfills this providing payment-related services, directly or indirectly, such as
purpose by managing the development, administration, and Conducting Cardholder solicitation, Card application processing
governance of the ACH Network, and by providing superior services or customer service, Conducting Merchant solicitation,
services and value to its members as the industry association sales, customer service, Merchant transaction solicitation or
responsible for ACH payments. The ACH Network connects the Merchant training, Back office-related functions, soliciting other
originating depository financial institutions with the receiving entities to sell, distribute, activate or load cards on behalf of an
depository financial institutions. Issuer.
173 ONLINE PAYMENTS AND ECOMMERCE MARKET GUIDE 2016 | GLOSSARY

Alternative payments Balance Inquiry
Payment methods that are used as an alternative to credit card A transaction used to determine the Available Balance on a
payments. Most alternative payment methods address a domestic card. Cardholders can typically conduct a balance inquiry online
economy or have been specifically developed for electronic or by telephone via an IVR or SMS text messaging services.
commerce and the payment systems are generally supported and Some Merchants may be able to use their electronic cash
operated by local banks. Each alternative payment method has registers/point-of-sale terminals to conduct a Balance Inquiry on
its own unique application and settlement process, language and a Network Branded or closed loop card presented for payment.
currency support, and is subject to domestic rules and regulations. Such capability can reduce Authorisation declines when the amount
of a purchase is greater than the Available Balance of the card.
Anti-Money Laundering (AML) This is particularly relevant for cards that work on a balance
A set of procedures, laws or regulations designed to stop the rather than a credit limit, such as Prepaid Cards.
practice of generating income through illegal actions. In most
cases, money launderers hide their actions through a series of Bancontact/Mistercash

steps that make it look like money coming from illegal or unethical It is the domestic debit card scheme in Belgium, allowing
sources was earned legitimately. consumers to pay in real-time and guarantee payment to (online)
merchants and businesses. Bancontact payments are immediately
API (Application Program Interface) debited from the consumer's bank account. The seller’s account
A formalised set of software calls and routines that can be will be credited the next working day. Today, there are more
referenced by a software application program in order to access Bancontact/MisterCash cards in circulation (15 million) than there
supporting network services. are Belgian citizens (10.5 million).
App Store Bank Identification Numbers

An online marketplace where users of smartphones and other The first four to six digits on a credit card, which can be used
mobile devices can browse, purchase, and download applications, to identify the Issuing Bank that issued the card. BINs are
or "apps", that augment the capabilities of their devices. traditionally used by online merchants as a way to detect fraud by
matching the geographic area where the cardholder is located to
Authentication the geographic area identified in the Bank Identification Number.
Use of a predefined sequence of events to demonstrate possession
and/or control of an authenticator in order to establish confidence Bank-as-a-platform

in a claim of identity A strategy used to allow third parties to develop applications and
services around the financial institution via open APIs. Banks,
Authorisation as such, become fully-fledged digital players, competing and
Online payments often involve direct authorisation from the bank collaborating for customer relevance in payment and information
of the consumer making the payment. This means that a check services.
is carried out immediately to check whether the consumer is
entitled and in a position to make the payment. Banking model

It represents the diversified means by which a bank helps a
B customer create an operating account, make money transfers,
B2B pay pending orders and sell foreign currency.
The exchange of goods or services between one business and
another business. Banking sector It is the section of the economy devoted to the
holding of financial assets for others, investing those financial
B2C assets as leverage to create more wealth, and the regulation of
The exchange of goods and services between a business and a those activities by government agencies.
customer.

Basel III Blockchain
Basel III is a comprehensive set of reform measures designed to The blockchain is a public ledger of all transactions in the Bitcoin
improve the regulation, supervision and risk management within network made of all computers (nodes) participating and using
the banking sector. The Basel Committee on Banking Supervision the cryptocurrency protocol. A blockchain is a transaction
published the first version of Basel III in late 2009, giving database shared by all nodes participating in a system based
banks approximately three years to satisfy all requirements. on the Bitcoin protocol. A full copy of a currency's block chain
Largely in response to the credit crisis, banks are required contains every transaction ever executed in the currency.
to maintain proper leverage ratios and meet certain capital
requirements. C
Card Mall
Batch Load An area in a retail location set aside for the sale of cards.
The addition of funds to cards through processing a batch These cards can be Closed Loop, Open Loop or Restricted
(or offline) file. This method is used to load multiple cards from Loop Cards and can be retailer or network branded. This is
a single source. Typically, this occurs daily, weekly or monthly. another Distribution Channel used to increase sales of cards.
The ACH is often used for batch loads to certain types of cards Companies that operate the logistics for these malls are often
such as Payroll Cards and Government-Funded Cards. referred to as Aggregators. This can also happen online and
can be an online store rather than a channel in a physical retail
Big Data environment.
Large data sets that may be analysed computationally to reveal
patterns, trends, and associations relating to human behaviour Card Not Present
and interactions. By developing predictive models based on both Card transaction in which a card is not physically presented to a
historical and real-time data, companies can identify suspected merchant, such as over the internet.
fraudulent claims in the early stages.
Card Scheme
Biometrics It is a payment network directly connected to a payment card.
The use of a computer user's unique physical characteristics A payment card is a payment tool issued by the bank or the
such as fingerprints, voice and retina to identify that user. financial institution that is member of the payment network (Visa,
MasterCard).
Bitcoin
Bitcoin is a digital currency, a virtual counterpart of banknotes. Card Security Code (CSC)
Each transaction is registered (the numbers of the coins passing Security features to ensure the Cardholder has the physical card
from a wallet to another wallet) and stored under the name of the when making Card Not Present transactions. There are generally
owner. The creators of Bitcoin remain anonymous. The founder two on a card, one on the mag stripe and valise when the card
is supposedly called "Satoshi Nakamoto”, which is a Japanese is read in a card present transaction and one printed on the card
name, but could be a person or people anywhere in the world. and used in card not present transactions.
There can be no more than 21 million registration numbers.
In a process that is similar to a continuous raffle draw, "mining" Cash on delivery

nodes on the network are awarded Bitcoins each time they find Payment method with which payment (cash or by card) takes
the solution to a certain mathematical problem. The reward for place when goods are delivered. In Belgium, France and The
solving a block is automatically adjusted so that the number of Netherlands known as ‘rembours’ or ‘remboursement’.
Bitcoins created decreases as time goes on.

Chargeback Cloud computing
A procedure whereby a cardholder or the cardholder’s bank Cloud computing is a general term for anything that involves
disputes transactions to payment cards. A disputed payment delivering hosted services over the Internet. These services are
card transaction is returned to the acquirer/ISO/MSP for broadly divided into three categories Infrastructure-as-a-Service
reimbursement to the cardholder’s account. (IaaS), Platform-as-a-Service (PaaS) and Software-as-a-Service
(SaaS). The name cloud computing was inspired by the cloud
Check-out symbol that's often used to represent the internet in flowcharts
A written order to a bank to pay the amount specified from funds and diagrams.
on deposit; a draft.
CNP (Card Not Present)

Chip-and-PIN payments Transaction type for credit cards where the card cannot be shown
Chip and PIN is a UK government-backed initiative to implement physically to the retailer, for instance in the case of e-commerce
the EMV (short for Europay, MasterCard and Visa) standard for transactions and MOTO transactions. Is the opposite of Card
smart payment cards. The name of this initiative stems from the Present (CP) transactions.
presence of a semiconductor chip and associated circuitry in
the smart card, which is used in tandem with a PIN (personal Consumer Account
identification number) . In use, the smart card is placed into a A deposit account held by a financial institution and established
PIN pad terminal or modified swipe-card reader, which accesses by a natural person primarily for personal, family, or household
the chip in the card. The user enters a 4-digit PIN that is checked use and not for commercial purposes.
against the information stored on the card. If the entered PIN
matches the stored value, the transaction is permitted to Consumer behaviour

proceed. The process by which individuals search for, select, purchase,
use, and dispose of goods and services, in satisfaction of their
Clearing needs and wants. See also consumer decision making.
The process of transmitting, reconciling and, in some cases,
confirming transfer orders prior to settlement, potentially Consumer data analytics

including the netting of orders and the establishment of final It is the systematic examination of a company's customer
positions for settlement. Sometimes this term is also used information to identify, attract and retain the most profitable
(imprecisely) to cover settlement. For the clearing of futures and customers.
options, this term also refers to the daily balancing of profits and
losses and the daily calculation of collateral requirements. Core Banking System
A core banking system is the back-end data processing software
Clearing House and hardware that allows all the daily transactions to be processed
A common processing mechanism through which market on account balances and includes links to the networks/schemes/
operators exchange instruction/information for funds, securities associations for authorisation and settlement.
or other instruments.
Credit card
Click-and-collect A card indicating that the holder has been granted a line of credit.
It is the process by which the consumer orders online (click) It enables the holder to make purchases and/or withdraw cash
and collects his merchandise at a local store. It is a compromise up to a prearranged ceiling; the credit granted can be settled in
between online and in-store shopping. The main benefits full by the end of a specified period or can be settled in part, with
of click-and-collect for the consumer are saving delivery or the balance taken as extended credit.
shipping delays and costs. It also saves time and prevents
shopping in congested stores. In some cases, click-and-collect
may enable consumers who are afraid of online payment to pay
at the collecting point.

Cross border ecommerce Decentralised e-money technology
International ecommerce is called cross-border ecommerce, Decentralised e-money technology implies storing and
when consumers buy online from merchants located in other transferring through a peer-to-peer computer network that
countries and jurisdictions. directly links users, much like a chat room. No single user
controls the network. There is no centralised issuer of such
Customer due diligence (CDD) products or a trusted third party that manages them. This means
Identification and verification of customers and beneficial owners. that they are independent of central banks, financial institu¬tions
and internet platforms. Decentralised e-money is not backed
Customer loyalty by any particular good or service and is not redeemable into
It is defined as a customer continuing to believe that a certain national currencies.
merchant’s product/service offer is their best option which fulfills
their value proposition whatever that may be. They take that offer Digital goods
whenever faced with the purchasing decision. Customer loyalty A general term that is used to describe any goods that are
is all about attracting the right customer, getting them to buy, buy stored, delivered and used in its electronic format. Digital goods
often, buy in higher quantities and bring even more customers. are shipped electronically to the consumer through e-mail or
download from the Internet.
Customer reach
Estimated number of the potential customers it is possible to reach Digital identity (e-ID)
through a an advertising medium or a promotional campaign. A collection of identity attributes, an identity in an electronic form
(e.g. electronic identity).
CVV Digital money Electronic money or e-money is an evolving term
A unique check value encoded on the magnetic stripe and that can have different meanings but in principle involves the use
replicated in the chip of a card or the magnetic stripe of a Visa of computer networks and digital stored value systems to store
Card to validate card information during the authorization process. and transmit money. It may have official legal status or not.
CVV2 Digital Single Market

A unique 3 ‐ digit check value generated using a secure It is one in which the free movement of goods, persons,
cryptographic process that is indent ‐ printed on the back of a services and capital is ensured and where citizens, individuals
Visa card or provided to a virtual account holder. and businesses can seamlessly access and exercise online
activities under conditions of fair competition, and a high level
D of consumer and personal data protection, irrespective of their
Data breach nationality or place of residence.
Unintentional release of secure information to an untrusted
environment. Digital Wallet

The software that provides the equivalent of a wallet for electronic
Debit card commerce. Also called an e‐wallet, it holds digital money that is
A plastic card linked to a checking or savings account. Offline or purchased similar to travelers’ checks. A wallet may also hold
signature ‐ based debit cards work in the merchant environment credit card information or checking account information along
the same as a credit card transaction and are not required to with the associated digital certificate that authenticates the
be “online” to the account balance. Offline signature ‐ based cardholder.
functionally work like credit cards; an initial transaction is used
to hold funds and a second to settle or remove the funds from
the card balance. Online debit cards or PIN ‐ based debit cards
ride over the ATM network; they require a PIN and the ability to
authorize against the actual balance of the card in a single step
transaction. Prepaid cards fall into the debit category.

Direct Carrier Billing e-Banking (online banking)
It is a payment method for purchased items or services by A method of banking in which the customer conducts transactions
charging the purchase to mobile phone account. At the time of electronically via the Internet.
checkout, the customer selects the mobile billing option on a
smartphone and follows a two-factor authentication procedure. EBITDA

After the authentication, the consumer's mobile account is An accounting term referring to “earnings before interest, taxes,
charged for the amount of the purchase, plus applicable taxes depreciation, and amortization” but after all product/service,
and, in some cases, a processing fee. Direct mobile billing does sales, and overhead costs are accounted for.
not require any previous registration, and it does not involve any
other sources of funding such as credit cards or bank accounts. Ecommerce

A way of doing real ‐ time business transactions via tele
Direct debit communications networks when the customer and the merchant
Preauthorised debit on the payer’s bank account initiated by the are in different geographical places. Electronic commerce
payee. is a broad concept that includes virtual browsing of goods
for sale, selection of goods to buy, and payment methods.
Dispute transaction (card-based) Electronic commerce functions on a bona fide basis, without
A dispute initiated by the cardholder. In the bank card industry, prior arrangements between customers and merchants.
the dispute can be in the form of a chargeback. It operates via the Internet using any combination of technologies
designed to exchange data (such as EDI or e‐mail), access
Disruptive innovation data (such as shared databases or electronic bulletin boards),
It is an innovation that helps create a new market and value and capture data (through bar coding and magnetic or optical
network, and eventually disrupts an existing market and value character readers).
network (over a few years or decades), displacing an earlier
technology. The term is used in business and technology literature e-Invoicing

to describe innovations that improve a product or service in Electronic invoicing is the exchange of the invoice document
ways that the market does not expect, typically first by designing between a supplier and a buyer in an integrated electronic format.
for a different set of consumers in a new market and later by Traditionally, invoicing, like any heavily paper-based process,
lowering prices in the existing market. is manually intensive and is prone to human error resulting in
increased costs and processing lifecycles for companies.
Dunning
The process of insistent demands for the payment of a debt. In the Electronic Banking
business context, it refers to the collections process, whereby a A form of banking in which funds are transferred through an
business communicates with customers who have failed to pay exchange of electronic signals between financial institutions
their bills. rather than an exchange of cash, checks, or other negotiable
instruments.
E
EBA CLEARING Electronic payments
Is a bank-owned provider of pan-European payment infrastructure Payments that are initiated, processed and received electronically.
solutions. The Company was established in June 1998 by
52 major European and international banks and today, EBA EMV

CLEARING counts 53 shareholder banks. EBA CLEARING’s The international smart card standards group made up of Europay
mission is to deliver market infrastructure solutions for the pan- International, MasterCard International, and Visa International.
European payments industry, to support its users’ needs in line
with user requirements.

European Banking Authority Fintech (Financial technology)
It is a regulatory agency of the European Union headquartered in An economic industry composed of companies that use technology
UK. It concerns itself primarily with banking regulation, but has to make financial systems more efficient.
a mandate to develop technical standards for the security of
internet payments. Four-party payment system

The four-party payment system is a card payment system
European Central Bank (ECB) involving the end-user and issuer on one side, and the merchant
The European Central Bank (ECB) is the central bank for Europe's and acquirer on the other — all of whom are linked by the network
single currency, the euro. The ECB’s main task is to maintain the includes the Visa and MasterCard models.
euro's purchasing power and price stability in the euro area.
I
European Payments Council (EPC) iDEAL
The purpose of the European Payments Council (EPC), iDEAL is an internet payment method in the Netherlands, based
representing payment service providers (PSPs), is to support on online banking. Introduced in 2005, this payment method
and promote European payments integration and development, allows customers to buy securely on the internet using direct
notably the Single Euro Payments Area (SEPA). The EPC is online transfers from their bank account.
committed to contributing to safe, reliable, efficient, convenient,
economically balanced and sustainable payments, which meet Identity theft

the needs of payment service users and support the goals Identity theft happens when fraudsters access enough
of competitiveness and innovation in an integrated European information about someone’s identity (such as their name, date
economy. of birth, current or previous addresses) to commit identity fraud.
Identity theft can take place whether the fraud victim is alive or
F deceased.
Faster Payments
A UK banking initiative to reduce payment times between In-app payments
different banks' customer accounts from three working days Payments made from within mobile applications in order to
using the long-established BACS system, to typically a few hours. purchase dedicated content like digital money, services or even
Many other countries are now adopting a similar model. products.
Financial inclusion Instant payments

The ability of an individual, household, or group to access According to the Euro Retail Payments Board (ERPB) instant
appropriate financial services or products. Without this ability payments are ‘electronic retail payment solutions available
people are often referred to as financially-excluded. 24/7/365 and resulting in the immediate or close-to-immediate
interbank clearing of the transaction and crediting of the payee’s
Financial Institution (FI) account with confirmation to the payer (within seconds of
Any bank, savings and loan, credit union, or other institution payment initiation). This is irrespective of the underlying payment
organized under either national or state banking laws capable of instrument used (credit transfer, direct debit or payment card)
accepting deposits and/or extending credit. and of the underlying arrangements for clearing (whether bilateral
interbank clearing or clearing via infrastructures) and settlement
Financial services (e.g. with guarantees or in real time) that make this possible.’
Services and products provided to consumers and businesses
by financial institutions such as banks, insurance companies, Interbank

brokerage firms, consumer finance companies, and investment A transaction or exchange operated between banks.
companies all of which comprise the financial services industry.

Interchange fee K
When a customer pays for a purchase in a store using a credit Know Your Customer (KYC)
or debit card, the bank that serves the store (the "acquiring The term refers to due diligence activities that financial
bank") pays a fee to the bank that issued the payment card to institutions and other regulated companies must perform to
the consumer (the "issuing bank"). A so-called "interchange fee" ascertain relevant information from their clients for the purpose
is then deducted from the final amount that the store merchant of doing business with them. Know your customer policies are
receives from the acquiring bank for the transaction. Today, only becoming increasingly important globally to prevent identity
competition rules limit the fees set by banks and payment card theft, financial fraud, money laundering and terrorist financing.
schemes, which are hidden from the consumer and neither
retailers nor consumers can influence. L

Loyalty Card
Interchange Network A brand – specific or retailer – labeled card that has cardholder
An electronic network maintained by the card companies that benefits tied to purchase amounts, usage, membership, or
exchanges data related to the value of card sales and credits number of visits. Benefits typically include coupons or discounts
among issuers and acquirers. for future services.
International Bank Account Number M

Standardised international bank account number, consisting Machine learning
of account number, sorting code and prefix, for international An artificial intelligence (AI) discipline geared toward the
payment transactions. technological development of human knowledge. Machine
learning allows computers to handle new situations via analysis,
Interoperability self-training, observation and experience.
A situation in which payment instruments belonging to a given
scheme may be used in other countries and in systems installed Malware

by other schemes. Interoperability requires technical compatibility It is a software which is specifically designed to disrupt or damage
between systems, but can only take effect where commercial a computer system.
agreements have been concluded between the schemes
concerned. Market fragmentation

Separation of a market that is relatively uniform in character into
Issuer different segments that have different preferences and demand
Public and private companies that enter direct contractual patterns, each requiring different marketing approaches.
relationships with consumers and/or businesses to maintain and
service such relationships through the issuance of one or more Marketplace

plastic cards. An online marketplace/ online platform is a type of ecommerce
website where product and inventory information is provided by
Issuing bank multiple third parties, whereas transactions are processed by the
The financial institution member of the card companies that has marketplace operator. Online marketplaces are the primary type
the responsibility for issuing credit, prepaid, corporate, charge of multichannel ecommerce. In an online marketplace, consumer
and debit cards to a consumer. transactions are processed by the marketplace operator and
then delivered and fulfilled by the participating retailers or
wholesalers (often called drop shipping).

Merchant Bank Money laundering
A bank which is licenced as a member of Visa/MasterCard to The process of concealing the source of money obtained by
provide merchants with an account and therefore allows them to illicit means. The methods by which money may be laundered
accept credit cards. are varied and can range in sophistication. Many regulatory and
governmental authorities estimate each year for the amount
Millennials of money laundered, either worldwide or within their national
A name given to the generation born between 1982 and 2004. economy.
The Millennial generation follows Generation X in order of
demographic cohorts. This generation is often associated with Monetisation

technology and social media. Also known as Generation Y. To monetise is to convert an asset into or establish something
as money or legal tender. The term 'monetise' has different
Mobile Banking meanings depending on the context. It can refer to methods
A system that allows customers of a financial institution to conduct utilised to generate profit, while it can also literally mean the
a number of financial transactions through a mobile device such conversion of an asset into money. For example, the US Federal
as a mobile phone or personal digital assistant. Reserve can monetise the nation's debt; this involves the
process of purchasing debt (treasuries) which in turn increases
Mobile payments the money supply. This essentially turns the debt into money
Also referred to as mobile money, mobile money transfer and (monetisation).
mobile wallet, mobile payments generally refer to payment
services operated under financial regulation and performed from M-Pesa

or via a mobile device. Mobile payment is an alternative payment A mobile payments system based on accounts held by a mobile
method. Instead of paying with cash, check, or credit cards, a operator and accessible from subscribers’ mobile phones.
consumer can use a mobile phone to pay for a wide range of The conversion of cash into electronic value (and vice versa)
services and digital or hard goods. happens at retail stores (or agents). All transactions are authorised
and recorded in real-time using secure SMS.
Mobile point of sale (m-POS)

A smartphone, tablet or dedicated wireless device that performs Multichannel
the functions of a cash register or electronic point of sale. Multichannel means having a presence on more than one channel
or platform. For example, if a merchant is marketing products on
Mobile network operator (MNO) the proprietary website, in person, and via catalogues, then the
A telecommunications service provider organization that provides merchant is conducting multi-channel marketing.
wireless voice and data communication for its subscribed mobile
users. MNOs are independent communication service providers MyBank

that own the complete telecom infrastructure for hosting and MyBank is an e-authorisation solution which enables safe digital
managing mobile communications between the subscribed payments and identity authentication through a consumer’s own
mobile users with users in the same and external wireless and online banking portal or mobile application.
wired telecom networks. MNOs are also known as carrier service
providers, mobile phone operator and mobile network carriers. N

NACHA
Mobile wallet Abbreviation for National Automated Clearing House Association.
It is a payment service which enables users to receive and send The Electronic Payments Association, a national organization
money via mobile devices. Mobile wallets are also known as that establishes the standards, rules, and procedures for
mobile money or a mobile money transfer. electronic payments.

National Retail Federation (NRF) Online shopping (online retailing)
The world’s largest retail trade association, with membership A form of electronic commerce which enables consumers to
that encompasses all retail formats and distribution channels, buy goods or services from a seller over the internet without an
including department, specialty, discount, catalogue, Internet, intermediary service. An online shop, e-shop, e-store, internet
and independent stores as well as the industry’s key trading shop, webshop, webstore, online store, or virtual store evokes
partners of retail goods and services. the physical analogy of buying products or services at a bricks-
and-mortar retailer or shopping centre. The process is called
NFC business-to-consumer (B2C) online shopping.
Near Field Communication (NFC) is a short-range wireless
connectivity standard (Ecma-340, ISO/IEC 18092) that uses Open API

magnetic field induction to enable communication between An open API, sometimes referred to as a public API, is an
devices when they're touched together, or brought within a few application program interface that provides a developer with
centimeters of each other. Jointly developed by Philips and programmatic access to a proprietary software application.
Sony, the standard specifies a way for the devices to establish
a peer-to-peer (P2P) network to exchange data. After the P2P Open banking
network has been configured, another wireless communication Is a new financial term seeking to use open source technologies
technology, such as Bluetooth or Wi-Fi, can be used for longer to enable third-party developers to build financial applications
range communication or for transferring larger amounts of data. and related services that could change the way people bank.
Banking data will be available in real-time for use in third-party.
Non-bank Financial A financial institution which is generally non- In the UK, the Open Banking Working Group (OBWG) established
depository (e.g. it does not accept deposits). Non-bank financial in 2015 came up with the Open Banking Standard that provides
institution a new set of models that act as a guide for how open banking
data should be created, shared and used.
O
OAuth (Open Authorization) Open Transaction Alliance (OTA)
An open standard for token-based authentication and authorization A non-institutional private initiative by forward thinking market
on the Internet. It allows an end user's account information to be participants who consider the growing importance of the banking
used by third-party services, such as Facebook, without exposing channel for internet business, the need of consumers and
the user's password. OAuth acts as an intermediary on behalf merchants for secure e-services and the development of XS2A
of the end user, providing the service with an access token that domain together, based on the assumption of the existence of
authorizes specific account information to be shared. The process some form of ‘cooperative domain’ (technical standards).
for obtaining the token is called a flow.
P
OBeP (Online Banking Electronic Payments) Pay-As-You-Go
A payments type developed by banks in conjunction with An unbanked, credit – poor, or noncredit customer who mostly
technology providers to meet the demands required by payments deals with cash. These consumers are targets for a prepaid card.
performed via internet.
Payee
Omni-channel Party (beneficiary) to whom a bill of exchange (such as a check
Use a definition that can be used for both banks and merchants or draft) is made payable.
the essence is seamless consumer experience across all
channels and that the merchant or bank can track where the Payer
consumer is even when the consumers uses multiple channels A person or a party that makes a payment for products or services
for one customer journey (while on website, calling call centre, received to another person or party.
and eventually ordering via mobile).

Payment flow Processor
The clockwise transfer of money in payment for the counter- A platform that acquires financial transactions from ATMs, POS
clockwise physical flow of goods and services. The payment terminals etc. The Processor then sends these via a Switch/
flow is the monetary payment for goods and services received Scheme to the Issuer Processor for Authorisation and settles the
by the household sector from the business sector through authorised transactions.
product markets and the monetary payment for resource
services obtained by the business sector from the household PSD (payment service directive)
sector through factor markets. The Directive on Payment Services (PSD) provides the legal
foundation for the creation of an EU-wide single market
Payment Gateway for payments. The PSD aims at establishing a modern and
A system that provides electronic commerce services to merchants comprehensive set of rules applicable to all payment services in
for the authorization and clearing of transactions. the European Union. The target is to make cross-border payments
as easy, efficient and secure as 'national' payments within a
Payment method Member State. The PSD also seeks to improve competition by
A generic way in which a payment is carried out, for instance opening up payment markets to new entrants, thus fostering
by PIN card, credit card, internet banking, COD, premium SMS. greater efficiency and cost-reduction. At the same time the
When a payment method is not generic but specific, it is called a Directive provides the necessary legal platform for the Single Euro
payment product. Payments Area (SEPA).
Payment Service Provider (PSP) PSD2

A company that offers service in the area of payments. These On 24th July 2013, the European Commission adopted a proposal
services consist of, for example, various payment modalities, for a revised Directive 2007/64/EC on Payment Services (“the
Electronic Bill Presentment and Escrow services. A Payment PSD2”). The main high-level objectives of the revision are to
Service Provider acts as intermediary between buyer and seller. promote better integration, more innovation and more competition
in the market for payment services within the EU.
Peer-to-peer payments
An online technology that allows customers to transfer funds Q
from their bank account or credit card to another individual's QR codes
account via the Internet or a mobile phone. A QR-code (quick response code) is a type of 2D bar code that is
used to provide easy access to information through a smartphone.
Phishing There are static QR codes, which are used to disseminate
A method which allows criminals to gain access to sensitive information to the general public and dynamic codes, which
information (like usernames or passwords). It is a method of offer more functionality, such as editing the code at any time and
social engineering. Very often, phishing is done by electronic mail. targeting a specific individual for personalised marketing.
This mail appears to come from a bank or other service provider.
It usually says that because of some change in the system, the R

users need to re-enter their usernames/passwords to confirm Receipt
them. The emails usually have a link to a page which is similar to A hard copy of the transaction, given to the consumer. Also called
the one of the real bank. sales draft receipt.
Point of sale (POS) Reconciliation

Point of sale (POS) or checkout is the location where a transaction A message generated by an acquirer or an issuer, an originator
occurs. A "checkout" refers to a POS terminal or more generally or a receiver, or a terminal and a processor of an electronic trans
to the hardware and software used for checkouts, the equivalent action that advises the receiver of settlement information regarding
of an electronic cash register. transactions processed between the sender and the receiver.

Returns
A sales return is merchandise sent back by a buyer to the seller, The SDD Scheme may be used for single (one-off) or reoccurring
usually for one of the following reasons Excess quantity shipped. direct debit collections. The SDD Core Scheme grants payers a
Excess quantity ordered. Defective goods. Goods shipped too late. 'no-questions-asked' refund right during the eight weeks following
the debiting of a payer's account. During this time therefore, any
Risk Management funds collected by SDD Core will be credited back to the payer's
The process concerned with the identification, measurement, account upon request. In the event of any unauthorised direct debit
control, and minimization of security risks in information collections, the payer's right to a refund extends to 13 months.
systems and payment systems to a level commensurate with
the value of the assets protected. Good risk management in the Single Euro Payments Area (SEPA)
merchant program requires meeting the challenges of reducing This is the vision, directive and goal of the European Commission
the exposure to risk and responding quickly when risk arises. which means that citizens and companies within the European
Monitoring merchant activity with preset parameters allows the Union have to be able to pay with a single set of payment
transactions to be rejected for examination before potentially instruments. This set is the combination of a bank account
incurring a loss. and instruments like money transfer, direct debit and cards.
SEPA signifies the end of international payments within Europe.
S
SCT Scheme Settlement
The SCT scheme is an inter-bank payment scheme defining a The completion of a transaction or of processing with the aim
common set of rules and standard procedures for credit transfers of discharging participants’ obligations through the transfer of
in euro. funds and/or securities. A settlement may be final or provisional.
SDD Scheme Settlement Bank

The SDD, like any other direct debit scheme, is based on the A bank, including correspondent or intermediary banks, that is
following concept "I request money from someone else, with authorized to execute settlement of interchange on behalf of the
their prior approval, and credit it to myself". The payer and the member or the member’s bank.
biller must each hold an account with a payment service provider
(PSP) located within SEPA. The accounts may be held in euro Social engineering (fraud)
or in any other SEPA currency, however the transfer of funds A non-technical method of intrusion that hackers use. It relies
(money) between the payer's bank and the biller's bank always on human interaction and often involves tricking people into
takes place in the euro currency. The SDD Core allows a biller breaking normal security procedures. It is one of the greatest
to collect funds from a payer's account, provided that a signed threats that organizations today encounter.
mandate has been granted by the payer to the biller. A mandate
is signed by the payer to authorise the biller to collect a payment Social platforms
and to instruct the payer's bank to pay the agreed collections. Web-based technologies that enable the development,
Payers are entitled to instruct their banks not to accept any deployment and management of social media solutions and
SEPA direct debit collections on their accounts. The mandate services. They provide the ability to create social media websites
expires 36 months after the last initiated collection. The signed and services with complete social media network functionality.
mandate must be stored by the biller as long as the mandate is
valid and for a minimum of 14 months after the last collection. Social media
The mandate can be issued in paper or electronic formats. The sum total of online communications channels dedicated
to community-based input, interaction, content-sharing and
The PSPs executing the direct debit transaction must formally collaboration. Websites and applications dedicated to forums,
participate in the SDD Scheme. It is optional for banks to offer microblogging, social networking , social bookmarking, social
services based on the SDD B2B Scheme. curation, and wikis are among the different types of social media.

Spear phishing TPP
An e-mail that appears to be from an individual or business A third-party processor enables customers to make online
that the user knows. In fact, the respective e-mail is from the payments without a merchant account of your own. Instead,
same criminal hackers who want the user’s credit card and bank they let you use their merchant account under their own terms
account numbers, passwords, and the financial information on of service, usually with very little setup required. Under PSD2,
their PC. traditional financial institutions are classified as ‘Account
Servicing Payment Service Providers’ (ASPSP) whereas those
SME without a banking licence are the so-called ‘Third Party Payment
Small and medium-sized enterprises (SMEs) are non-subsidiary, Service Providers’. The latter category, arguably the most
independent firms which employ less than a given number of significant amendment introduced by PSD2, encompasses
employees. This number varies across countries. The most two types of services; Third Party Account Information Service
frequent upper limit designating an SME is 250 employees, as in Providers (AISP, also called Account Information Aggregators)
the European Union. and Third Party Payment Initiation Service Providers (PISP).
A TPP does not hold a payment account and does not enter
Supply chain into possession of the funds being transferred. According to the
The network created amongst different companies producing, proposed directives, AISPs have to be given access to account
handling and/or distributing a specific product. Specifically, the information – provided permission is granted by the account
supply chain encompasses the steps it takes to get a good or holder. Subsequent to banks releasing this information, it can
service from the supplier to the customer. be used for AISPs innovative services. PISPs, on the other
hand, will be allowed to initiate payments commissioned by the
Surcharge account owner and thus facilitate the use of online banking to
In debit card usage, additional fees assessed to cardholders make internet payments.
by merchants and ATM providers. Merchants are sometimes
charged additional fees for nonqualified interchange transactions. Tokenization

The process of substituting a sensitive data with an easily
T reversible benign substitute. In the payment card industry,
Technology disruption tokenization is one means of protecting sensitive cardholder
see Disruptive Innovation definition PII in order to comply with industry standards and government
regulations. The technology is meant to prevent the theft of the
The Euro Retail Payments Board (ERPB) credit card information in storage.
On 19 December, 2013, the ECB announced the launch of the
Euro Retail Payments Board (ERPB). This new entity, which Transaction
replaces the SEPA Council, helps foster the development of an An act between a merchant and a cardholder that results in a
integrated, innovative and competitive market for retail payments paper or an electronic representation of the cardholder’s promise
in euro in the European Union. to pay for goods or services received from the act.
Third-party
A security authority trusted by other entities with respect to
security related activities.

U W
Unbanked Web 2.0
The population that does not maintain checking or savings A term used to describes a second generation of the World
accounts with financial institutions because they do not desire to Wide Web that is focused on the ability for people to collaborate
do so. Products that would benefit the unbanked market include and share information online. Web 2.0 basically refers to the
payroll cards and electronic benefits transfer (EBT). transition from static HTML Web pages to a more dynamic Web
that is more organized and is based on serving Web applications
Underbanked to users.
The population that does not maintain checking or savings
accounts with financial institutions because of a loss of credit, White label

bankruptcy or too much difficulty qualifying. White label refers to a product or service that is purchased
by a reseller who rebrands the product or service to give the
User impression that the new owner created it. White label products
Payment system users comprise both participants and their are often produced via mass product
customers for payment services. See also customer, direct
participant, direct participant/member, indirect participant/
member, participant/member.
V
Value chain
A value chain is the whole series of activities that create and build
value at every step. The total value delivered by the company is
the sum total of the value built up all throughout the company.
Michael Porter developed this concept in his 1980 book
'Competitive Advantage'.
VAT
Consumption tax added to a product's sales price. It represents a
tax on the "value added" to the product throughout its production
process.
Virtual assistant
A person who helps someone else - usually a business owner or
small business – with a variety of tasks from a remote location.
Virtual store
A retail presence on the Web. The virtual store is an online store
that displays merchandise and an order form. A live text chat
may be offered, in which the customer interacts in real time with
a company representative.

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INSIGHTS INTO GLOBAL ONLINE PAYMENTS AND ECOMMERCE MARKET

RELEASE VERSION 1.0

TEL +31 20 893 4315

worldwide, not only to sell to customers, but also to engage

all occupying unique positions in the ecosystem.

Regulation, another trending topic, continues to play a vital role

The Context in determining the future evolution of payments. The adoption

world of dynamic technology and evolving consumer behaviour,

has already become a key generator of future business growth

strategies for all participants in the industry, including payment

gateways or technology providers, merchants, postal and

The omnichannel experience continues to change the way

businesses sell and, more importantly, it contributes directly to

the diversification of the payments plethora for consumers.

3 ONLINE PAYMENTS AND ECOMMERCE MARKET GUIDE 2016 | EDITOR’S LETTER

customers the banking services they want and deserve or,

Risk Council and Ecommerce Europe - our endorsement

Guide Structure Editor-in-Chief, The Paypers

In order to grasp the complexities of the changing business

is dedicated to thought leadership contributions and initiatives in

the field of online financial services, featuring various contextual

approaches for online transactions at a global or regional level, as

presented by key industry players, either in the form of an exclusive

interview or an elaborate article. Such contributions serve as best

ever-changing digital commerce and payments space.

4 ONLINE PAYMENTS AND ECOMMERCE MARKET GUIDE 2016 | EDITOR’S LETTER

8 Omnichannel and Big Data

28 Expanding Ecommerce across Borders

35 Driving Ecommerce Growth

5 ONLINE PAYMENTS AND ECOMMERCE MARKET GUIDE 2016 | TABLE OF CONTENTS

90 Spotlight on Card Schemes

95 Part 2 – Company profiles

6 ONLINE PAYMENTS AND ECOMMERCE MARKET GUIDE 2016 | TABLE OF CONTENTS

to take advantage of the situation. and accuracy.

For those of us in the omnichannel payments industry, however, Data in action

data and more. willing to devote hours to extensive data mining.

should merchants be expecting from PSPs in the Big Data age?

Then, it allows the merchant to route future transactions differently,

the latter issue first.

As well as improving the chances of legitimate buyers being

merchant with no clue as to how to use them.

By approaching risk scientifically, we can identify customers

that will eliminate obstacles in the authorisation process.

9 ONLINE PAYMENTS AND ECOMMERCE MARKET GUIDE 2016 | THOUGHT LEADERSHIP

of the costs that merchants face when handling card payments,

which are determined by thousands of complex and ever-

changing rules. In many cases, we are educating our clients

limits. The results? Better authorisation rates, improved security

and happier merchants.

firm, including sales strategy, data science and arena.

product. He is also responsible for the valuation

About Acapture: Acapture is a global omnichannel

Click here for the company profile

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10 ONLINE PAYMENTS AND ECOMMERCE MARKET GUIDE 2016 | THOUGHT LEADERSHIP

merchants, this is a large investment that means committing to

become a certified PCI P2PE solution provider in Germany.

terminals can now be used worldwide, offering three substantial

benefits: security, omnichannel use and internationalisation.

POS and omnichannel payment