PAY.ON has integrated the SEPA direct-debit payment process from P4 Solutions into its global payment network. The PAY.ONplatforms have supported SEPA payment processing already for some time, but by integrating P4 Solutions, a further SEPA direct debit payment process solution is now available to PAY.ON clients. PAY.ON clients are thus already well positioned for SEPA. This affords their merchants enough time for the technical implementation by 1 February 2014 and to actively prepare their end customers for the SEPA payment process.
Markus Rinderer, CEO of PAY.ON AG: “SEPA offers significant benefits to merchants in Europe and around the world by making their e-commerce more customer-oriented. The potential is enormous if you consider that out of around 500 million people in Europe only 125 million have a credit card, but they all have a bank account – the only requirement for using SEPA. E-commerce in Europe now has a great opportunity to take cross-border trade into a new era, all thanks to SEPA. PAY.ON has provided its customers with all the tools needed to take the relevant steps for the market in good time. Via PAY.ON API, payment service providers, independent sales organizations and financial institutions have access to around 300 payment providers in total, including more than 100 payment types.”
As the new, secure payment method valid across Europe, SEPA provides payment service providers/independent sales organizations and their merchants with an efficient way to serve international customers with a simple procedure and in a more service-oriented way. This will thus help them to further grow their own customer base. A bank account is the only prerequisite for merchants and customers; other issues such as registration, software and individual checks are no longer necessary. SEPA is thus paving the way towards a simple international e-commerce system in Europe. For international providers from the USA, Asia and other regions of the world, SEPA offers a long-awaited harmonisation which minimises the extensive contractual and integration efforts typically required in payment technology.
Amran Khalid, Director International Sales, P4 Solutions: “Direct debit, which is popular in Germany, can continue to be offered beyond 1 February 2014 by means of the P4 SEPA connector. Contrary to the recommendation issued by the German banking association, the SEPA rule book does not require a written paper or fax mandate. The e-mandate tool from P4 Solutions, available as part of the solution provided by PAY.ON, makes it possible to perform this virtually in a secure manner. P4 takes on payment processing by means of the P4 SEPA connector integrated with PAY.ON. This involves transaction processing with the bank of the PSP and management of the various e-mandates on a secure e-mandate server, as well as format reconciliation and bank file generation. This allows payment service providers and independent sales organizations to easily continue using their own bank. As a result, the only requirements are Electronic Banking Internet Communication Standard (EBICS) access and activation of the P4 SEPA connector with PAY.ON, and then the PSP is SEPA-ready for its merchants.”