Online Payments Market Guide 2015 - Insights Into Payments and Ecommerce

ONLINE
PAYMENTS
MARKET
GUIDE
2015
INSIGHTS
INTO
GLOBAL
ONLINE
PAYMENTS
AND
ECOMMERCE
MARKET
Building
MRC
Better Commerce
Fraud & Payments Professionals
The Paypers is an excellent resource

for fraud and payments professionals to
gain insights into the most recent and
relevant industry news, stories, trends and
developments. The Paypers is one of the
leading industry publications and is set
apart from others by providing innovative
and imperative information such as their
annual Online Payments Market Guide
Markus Bergthaler - Global Director of
Programs and Marketing - MRC
Ecommerce Europe welcomes the

publication of the Online Payments
Market Guide, a most valuable source
of information and guidance for all parties
interested in the current state of affairs of
the payments industry, as well as latest
trends and developments which offer
businesses the know-how for growth,
regionally or globally
Paul Alfing - Chairman e-Payments
Committee - Ecommerce Europe
Company
Title
Platte tekst
ONLINE PAYMENTS
MARKET GUIDE 2015
INSIGHTS
INTO
GLOBAL
ONLINE
PAYMENTS
AND
ECOMMERCE MARKET
AUTHORS
Mirela Amariei
RELEASE
Tiberiu Avram
VERSION 1.0
Ionela Barbuta
OCTOBER 2015
Simona Cristea
COPYRIGHT THE PAYPERS BV
Sebastian Lupu
ALL RIGHTS RESERVED
Mihaela Mihaila
Andreea Nita
Adriana Screpnic
KEY TRENDS AND DEVELOPMENTS IN THE ONLINE PAYMENTS & ECOMMERCE SPACE
Introduction
The payments industry is currently undergoing notable change, not
The omnichannel experience continues to change the way
only through the innovation technology spectrum, but also through
businesses sell and, more importantly, it contributes directly to
regulatory lenses, thus demanding a great deal of effort on behalf
the diversification of the payments plethora for consumers. In this
of merchants, payment services providers and other players in
scenario, PSPs continue to play a vital role in the companies
the business to be tuned to the latest trends, developments and
ecommerce process by implementing the payment methods that
regulatory framework. It is a necessary effort in order to incorporate
consumers want and feel comfortable with in the purchasing
the new requirements and draft a successful agenda for investment
process. As many online merchants are critical about the services
and revenue in the new landscape.
of their PSP, given the greater challenge of handling payments,

both online and offline, payment service providers need to
In order to comprehensibly implement the necessary intelligence
constantly re-examine the basis on which they deliver customer
to stay competitive in the complex and ever changing payments
propositions.
business, The Paypers is committed to providing clear perspectives

and insights gathered from industry experts and thought leaders
In order to grasp the complexities of the changing business
who are eager to share their expertise in order to help businesses
landscape, this year`s edition features a 2-part structure. Part 1
succeed by choosing the best agenda possible, not only in domestic
is dedicated to thought leadership contributions and initiatives in
expansion, but also across borders. Therefore, The Paypers issues
the field of online financial services, featuring various contextual
its comprehensive Online Payments Market Guide on a yearly
approaches for online transactions at a global or regional level, as
basis in order to help all payments industry players keep pace with
presented by key industry players, either in the form of an exclusive
updates on industry developments, as every detail can make the
interview or an elaborate article.
difference between success and failure.

Cross-border ecommerce (with a particular focus on its drivers,
In conducting ecommerce operations, cross-border and omnichannel
challenges and opportunities), omnichannel payments and
remain essential strategies with significant impact on capturing and
innovations, as well as the regulatory landscape in Europe and
harnessing the market potential. Cross-border ecommerce has been
North America and globalising merchant strategies are among
developing at such a rapid pace that it has already become one of
the main topics to be addressed by these industry players, such
the key generators of future business growth for all participants in
as Neira Jones opinion on regulation and innovation within EU or
the industry, including payment gateways or technology providers,
CMS approach on the regulatory context in the US.
merchants, postal and logistics companies.

Likewise, digital transformation, led by innovation, is a hot topic
It is a generally acknowledged fact among industry players that
not only in the regulatory context, but also in the payments and
retail has gone beyond store, mobile, tablet and even language
ecommerce space. New payment tools and devices are released,
barriers, putting customer preference at the forefront. In a context
even as we speak, and technologies such as NFC, both for
in which buyers have become increasingly more confident and
cards and mobile devices, have reshaped consumer behaviour
comfortable shopping online, and the mobile device becoming a
in the purchase experience and merchant attitude during the
popular shopping tool, retailers must reshape their offerings in order
sales process, respectively. The latter is much more aware of the
to accommodate for consumers new preferences. They should
importance of implementing innovative payment services into their
also focus on how the bulk of their efforts could come to fruition
offering: payment preference is a top priority for retailers who want
by making a successful offline-to-online transition or convergence,
to make sure shopping cart abandonment rate is kept in check.
while also boosting their revenues and looking to lower their costs.
ONLINE PAYMENTS MARKET GUIDE 2015
Additionally, notable perspectives around the crucial aspects on
Part 2 presents in-depth company profiles mapping out key players
how to start and manage a business are offered not only by arvato
in the global online payments space, including processors, acquirers
in their interview, but also by many other contributions present in
and alternative payment methods. Furthermore, companies will also
this guide like IMRG, Ecommerce Europe, Alibaba and AIG. These
be featured in our comprehensive PSP and Alternative Payment
are best practices for startups and businesses eager to learn as
Methods database which includes almost 500 players globally,
much as possible in order to stay on top of the industry.
allowing readers unprecedented access to global industry players.
AIG, hellofood and Jumia render a general overview of the
The Online Payments Market Guide 2015 is a must have
actual state of affairs and fundamental principles around which
source of reference to stay informed and keep up to date with the
ecommerce coagulates, such as investments in logistics, building
latest industry perspectives, trends and developments, a highly
trust and diversifying mobile payment options.
useful document that should be kept at hand at all times.
In Europe, PSD2 has drawn a lot of attention as it aims to redefine

European cross-border business and make the EU a common
market by eliminating differences and stressing the similarities.
FleishmanHillard`s point of view is notable in this framework, as
it objectively renders the EU regulatory initiatives to building a
common trade market.
Asia, with precedence on China, and North America, with
precedence on the US, have become competing regional hubs for
the ecommerce industry. This state of affairs is the focal point of
The Paypers own contribution, which attempts to reflect the fierce
battle for global ecommerce dominance between Amazon and
Alibaba. Africa and South America, on the other hand, struggle
to catch up with the more developed regions in order to turn into
promising business growth hubs and gain access to the booming
global enterprise.
Finally, business growth is only sustainable in a secure environment,
and contributions like MRC, NoirePay and Russian Electronic
Money Association highlight the necessary steps which merchants,
PSPs and other payment industry players should take into account,
regardless of business case, market or future developmental plans.
Security is a must and is a fundamental pillar to long term success.
Table of contents
INTRODUCTION
8 THOUGHT LEADERSHIP SECTION

11 GOING OMNICHANNEL TO WIN
12
Omnichannel Retail Demands 'Open Payments' | Jip de Lange, Senior Consultant, First Annapolis
14
Dynamic Payment Thinking Will Be Key to Omnichannel Success | John Snoek, VP Ecommerce, Acapture
16
Revolutionise Your Shopper Experience with Omnichannel Payments | Roelant Prins, CCO, Adyen
18
Exclusive Interview with Philippe Lazare | Chairman and CEO Ingenico Group
20
Consolidation in Online Payments: Growing Through M&A and Investment | Ycel Yelken, CEO and Founder, yStats.com
23 EXPLORING CROSS-BORDER: THE BIG GAME IN ECOMMERCE

24
Business Intelligence: Multiple PSPs Compare Performance | Son Nguyen, Finance Program Director, vente-privee (part of MRC)
26 The Appeal of Cross-Border Ecommerce for Neighbouring Countries | Linda Uhl, Head of Platform Development and Innovations,
Wirecard
28
Cross-Border Ecommerce: How a Local Approach Can Make the Difference | Martin Schrimpff, Head of Global Sales, PayU
30 How Chinese Giants Have Become a Driving Force for Russian Ecommerce and E-Payments | Adrien Henni, Chief Editor and
Co-founder, East-West Digital News
32
Cross-Border Ecommerce: A Big Opportunity and a Major Challenge | Masha Cilliers, Digital Payments Consultant, IMRG
35 DIGITAL TRANSFORMATION: BETWEEN REGULATION AND GROWTH POTENTIAL

36
Exclusive Interview with Jan Richard | Head of Payment Services, arvato Financial Solutions
38
Planet of the APIs - Making Banking and Payments Programmable | Christoph Tutsch, Founder and CEO, ONPEX
40
Leverage Digitisation to Secure and Develop Your Payment Business | Stphanie Nogus, Head of Marketing, Worldline
42
Exclusive Interview with Neira Jones | Advisory Board Member & Ambassador, Emerging Payments Association
44
The Lego-isation of the Financial Services Industry | Mark Beresford, Director, Edgar, Dunn & Company
46 PSD2 Access to Account (XS2A): Shaking Up the Value Chain | Mounaim Cortet, Strategy Consultant and Tom Rijks, Digital
Innovation and Co-creation Lead, Innopay
48
Technological Transformation in Digital Payments: What Is Next? | Catherine Batch, Associate, Payments Consulting Network
50
PSD2 - Can You Feel the Buzz? | Edwin Jacobs, FinTech lawyer, time.lex
53 JUMPING ON THE PAYMENTS INNOVATION BANDWAGON

54
How to Eat the Elephant of Payments Innovation | Michael Grillo, Director, Marketing Line Leader, ACI Worldwide
56 A EU Digital Single Market: Can Europe Revolutionise Payments? | Martin Bresson, Senior Policy Advisor and Marijn Swinters,
Senior Account Executive, FleishmanHillard Brussels
58
Exclusive Interview with Niamh de Niese | Director of Innovation Delivery, Visa Europe Collab
60 Five Predictions for the Future of Payments | R. Jesse McWaters, Project Lead, Disruptive Innovation in Financial Services, World
Economic Forum and Hwan Kim, Manager, Monitor Deloitte
63 PAYMENT METHODS DIVERSITY - SPEARHEADING GROWTH

64 Global Payment Methods: Towards a True Seamless Shopping Experience | Paul Alfing, Chairman E-Payments Committee,
Ecommerce Europe
66 When in Rome, Pay as the Romans Pay! Payment Preferences in Different Countries | Ralf Ohlhausen, Chief Strategy Officer,
PPRO Group
68
Online Payment in Germany: Security and Tradition | Miriam Wohlfarth, Co-founder, Managing Director, RatePAY
70 How Developments in Payments Will Truly Establish the Sharing Economy Model | Catrine Rhenberg, Head of Marketplaces,
Trustly
72
The Third ERPB Meeting Agrees Next Steps for Payments in Europe | Javier Santamara, Chair, The European Payments Council

Payments Intelligence
74
The Third ERPB Meeting Agrees Next Steps for Payments in Europe | Elley Frost, Managing Director, CMSpi
77 PAYMENTS RISK MITIGATION: INDUSTRY INSIGHTS

78 Four Pillars to Prevent, Minimise Data Breaches | Markus Bergthaler, Global Director of Programs and Marketing MRC and Mike
Splichal, Program Manager, MRC US
80
Exclusive Interview with Tim Thompson | CEO, NOIRE
82 Breaking the Glass Ceiling: Innovating AML/CFT in Retail Finance | Dr. Victor Dostov, President, Russian Electronic Money
Association
85 THE MARKETPLACE MODEL OPENING THE WORLD FOR BUSINESS

86
Exclusive Interview with Michael Mang | Head of International Business Development and Marketing, APAC&MENA, Alibaba.com
88
Online Retail: A Social Activity | Dr Windsor Holden, Head of Forecasting & Consultancy, Juniper Research
90
Exclusive Interview with Christophe Bourbier | Chairman & Co-founder, Limonetik
92 The Age of A(ces) in Ecommerce: Alibaba, Amazons Strategies for Global Dominance | Adriana Screpnic, Editor-in-Chief and
Sebastian Lupu, News Editor, The Paypers
95 SELLING GOODS IN THE DIGITAL WORLD

96
Do Subscriptions Make Sense for Your Business? | Craig Vodnik, Co-founder, cleverbridge
98
Proliferation of In-App Payments in Ecommerce | Mark Gerban, Payments Industry Expert
101 THE AFRICAN QUEST FOR A COMPETITIVE ECOMMERCE MARKET

102 The Challenges Facing Ecommerce Companies in Sub-Saharan Africa | Sacha Poignonnec, co-CEO, Africa Internet Group
104 Exclusive Interview with Mohamed Touhami El Ouazzani | General Manager for Morocco and Francophone Africa, Visa Inc.
106 Mobile Internet Is the Future of the African Ecommerce Market | Joe Falter, CEO, hellofood Africa
108 What Does It Take to Bring Ecommerce to the Next Level in Sub-Saharan Africa? | Jrmy Doutt, MD, Jumia
110 COMPANY PROFILES

230 GLOSSARY
THOUGHT
LEADERSHIP
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KEY TRENDS
AND
DEVELOPMENTS
IN THE ONLINE
PAYMENTS &
ECOMMERCE
SPACE
GOING
OMNICHANNEL
TO WIN
First Annapolis
Omnichannel Retail Demands 'Open Payments'
Omnichannel payments have long been regarded as the holy grail
Traditionally, payment services are heavily tied to channels (figure 1).
in the payments industry and, for something that is the subject of
With retailers becoming omnichannel, there are two ways forward
so many articles, sales presentations and conference speeches, it
for payment services:
is surprising how little genuine omnichannel payments we see in the
1. Create one integrated payment solution that serves merchants
real world. In this piece, I will explore why this is the case and what
alternative ways merchants are finding.
across channels
2. Create componentised payment services that are easy to combine
into a wider solution, so merchants can integrate in other parts of
Payment services are part of a broader commerce experience,
their operations
designed to meet the requirements of specific retail environments.

Retailers have created sophisticated commerce experiences and
As mentioned, there are not too many examples of the first approach.
want payments to be a seamless part of them.
Best-in-class providers offer acceptance in all channels, but retailers

often have their own reasons to rely on different partners in different
In contrast to payments services, retail is rapidly becoming
channels or geographies. Because the merchant environment
omnichannel. The webshop is no longer an isolated part of the
consists of different components, both new and legacy, a one-
business but, rather, an extension of the physical stores, or vice
to-one match with available payment services will be challenging
versa. We also see physical stores functioning as pick-up stations
to find (figure 2). At the same time, a trend in payment services is
or drop off points for returns and merchant apps becoming a full
that they are increasingly offered as an integrated part of broader
feature channel. Retailers want the experience of the end-customer
commerce solutions. Therefore, the best option for omnichannel
to be consistent and seamless, they want to recognise customers
payments, I argue, are payment services that are easily combined
across channels and optimise the shopping process by using all
with others. We call this Open Payments.
available data. Payments are merely a part of this equation.

It is debatable whether having the same payment experience across
channels is the best implementation of omnichannel as different
channels pose different demands on the payment options offered.
What is important, however, is that the payment flow is optimally
integrated in a broader retail context and that the right data is
used to create consistent user profiles and optimise conversion.
Services are being combined to form integrated propositions for
specific use cases. Within these integrated propositions, payments
are only one of many parts. Retail is often just too diverse to design
payment methods that are universal (see Figure 2).
Figure 1: Different retail environments have different demands for

payment methods.
Successful PSPs have managed to establish a symbiotic relationship

with other service providers to create seamless experiences that
fit specific niches. These partnerships lean heavily on technology,
target merchants early in their life cycle, offer scalable solutions and
are geo-agnostic. Altogether, we refer to this as Open Payments,
as they rely on partnerships and are non-exclusive by design.
This combination of general components and the specific, targeted
12
Jip de Lange
Senior Consultant
First Annapolis
services they are integrated in enable merchants to benefit from

economies of scale and high service levels, while offering a unique
About Jip de Lange: Jip is a Senior Consultant
and differentiating retail experience.
in First Annapolis Amsterdam office. He has

Even if payment experiences remain diverse across channels,
worked with leading card acquirers, processors,
PSPs should make an effort to accommodate omnichannel retail by
industry associations and technology providers
offering services that are easily integrated in the wider retail solution:
on various engagements. Jip holds an MSc in
open business models that are accessible, flexible and transparent
Civil Engineering from the University of Twente.
offer the best chance to fit the diverse needs of 21st century retail.
About First Annapolis: Founded in 1991, First

Annapolis is a privately-held management
consulting firm focused exclusively on
payments. Our team of 70+ professionals has
extensive experience supporting the most
prominent financial institutions, payment
schemes, payment service providers and
retailers. Throughout our history, we have
worked with many innovative new entrants to
the industry.
www.firstannapolis.com
Figure 2: Merchants will have to integrate payment solutions with

their operations and are likely to select certain components and
not others.
Omnichannel takes many different shapes

Retail is more global than the services it builds on, which
makes designing omnichannel payments challenging.
When a retailer stops distinguishing between channels
and geographies, this doesn`t mean that solutions are
universally available or that they should be offered in
the same way. Often, retailers apply different pricing
policies to different pricing to different geographies.
Also, legal requirements, shipping options, product
inventories, etc vary by country.
13
Acapture
Dynamic Payment Thinking Will Be Key to Omnichannel Success
Since 2013, all traditional notions of how the typical ecommerce

consumer behaves have been torn to pieces by technology.
The image of the online buyer sitting at a desk, credit card in one
hand and mouse in the other, is long gone.
This is the era of omnichannel ecommerce, where your websites
visitors could be using any device in any location and paying via
any number of different methods. Needless to say, a seamless,
uninterrupted service is expected by each and every one.
As with everything else in the ecommerce world, so much hinges
on payments. A failure to allow your customer to purchase how,
where and when they wish will quickly send them running to your
competitors. To satisfy every buyer, we need to rethink how we
deal with the online payment process.
A new level of payment choice
Major opportunities, major complications
While everybody agrees omnichannel capabilities have already
On one hand, a world where your target consumer is never more
rearranged retail, there is far less agreement regarding what
than the push of a button away from a purchase promises an
should be done about it. Yet it is impossible to ignore. In 2014,
incredible ability to convert. On the other hand, the customer is
we witnessed the intense mainstream media interest generated
more likely than ever to walk away from the sale at a moments
by Apple Pays launch, the continued increase in popularity
notice, should they encounter the merest complication.
of mobile payments in Europe and a variety of cashless

payment methods being used at major events such as
Mobile payments, mPOS, in-app payments, responsive checkouts,
Coachella and Lollapalooza. Anybody who reads the headlines
O2O shopping all of these things have made the consumer more
can tell you: online and off, the world is hungry for newer, faster
accessible to the merchant. Yet, in return, the level of choice they
ways to pay for products.
offer has given the consumer a new power over the merchant. When
selling cross-border, the issue becomes yet more complicated, as
In Asia, Alibabas all-powerful presence makes running an
varied currencies and preferred payment methods come into play.
omnichannel ecommerce operation easier. With one industry

leader handling the whole process, from ordering to checkout
When your system places an obstacle in front of the buyer, you risk
to fulfilment and more, it is relatively straightforward to follow
instant cart abandonment. A seamless experience must therefore
the shopper from one touch point to the next and offer a quick,
be offered from the moment they arrive at your store to the moment
holistic buying experience.
they access the product. To do this, you need to make the payment
system nearly invisible in the process. Though there are plenty of
In the fragmented ecommerce markets of Europe and the US,
PSPs who claim to do just that, in truth, it is only a few, innovative
however, things are rather more chaotic. The sheer number of
providers who are really blazing a trail in this regard.
PSPs, marketplaces and channels available in these regions makes

crafting a seamless customer journey a far tougher task. Yet, the
rewards for the merchant who can do so will be extremely lucrative.
14
John Snoek
VP Ecommerce
Acapture
Paying in an omnichannel world

When many providers claim to offer omnichannel payment
processing, what they actually mean is that they handle multichannel
About John Snoek: John Snoek, VP
payments. In other words, their solution has been designed to
Ecommerce at Acapture, has 20 years go-to-
securely deal with a select list of payment methods. As new payment
market experience in product development,
types are introduced, however, they are unlikely to have the flexibility
management and launch. Previously, John
to adapt to them quickly, if at all. If youre a merchant who uses one
was responsible for Global Marketing and
of these PSPs, this can soon see you tied down to an out-of-date
Alternative Payments at GlobalCollect and
system that does not satisfy a large chunk of your potential buyers.
was a consultant for the Dutch government on

ecommerce strategy.
So, how do you address the customers payment needs when those
needs vary so greatly from buyer to buyer and can change at any
About Acapture: Acapture designs payment
minute?
solutions for PSPs and ecommerce merchants

looking to expand internationally. It is the
At Acapture, our answer to this problem was to start from scratch.
daughter company of Payvision. Acaptures
We built an entirely new payment platform without any ties to
platform provides global card acquiring, 18
existing legacy solutions that are no longer fit for purpose in
ecommerce platform plugins and the ability to
an omnichannel environment. By starting afresh, with the card
handle over 50 of the most popular alternative
expertise of Payvision behind us, we crafted a secure, simple,
payment methods and over 150 transaction
integrated solution that was flexible enough to adapt to the huge
currencies.
number of payment methods being used in both domestic and

cross-border ecommerce. For us, it was only by approaching the
www.acapture.com
payment question from an entirely new angle that we could hope

to deliver a satisfactory answer.
Omnichannel ecommerce is, by its nature, unpredictable, with
technological innovations causing massive shifts in its landscape
with startling regularity. It is, therefore, the online merchants and
PSPs that have the ability to stay flexible in their operation that will
have the edge in this ruthlessly competitive arena. That applies
to all parts of the service, from products to payments to logistics.
Truly, this is a market in which the most dynamic thinkers will
triumph.
15
Adyen
Revolutionise Your Shopper Experience with Omnichannel Payments
We live in a channel-agnostic world. Shoppers expect to move

seamlessly from a retailers physical store to its webshop, while
shifting from device to device as they go about their day. Although
this may present a daunting challenge, it actually means retailers
have more channels through which to convert browsers into paying
customers. The key to this is payments. With the ability to process
frictionless payments across all channels, from the same platform,
retailers can improve customer service, increase repeat purchases
and ultimately drive revenue. The benefits of a holistic, omnichannel
approach to payments are endless. But, what practical steps can
be taken to actually deliver it? Below, I will present some of the
Enable click-and-collect
fundamental omnichannel principals to keep in mind.
Click-and-collect allows the shopper to buy online and then collect

the purchase in a branch of their choice. This is a popular solution
Bring your online inventory in-store
used by 54% of survey respondents. But a key thing to consider
Losing a sale because an item is out of stock is frustrating for both
is that, when choosing click-and-collect, 41% of respondents
the retailer and the shopper. In a recent survey conducted by Adyen
nominated the ability to return the item in-store as an important
and Drapers, 41% of respondents said they had left a store because
factor. This highlights the necessity of a unified payments platform,
the item they wanted was not in stock. This translates into a high
which supports the in-store refund of online purchases.
level of lost sales. The solution is the Endless Aisle, which provides
shoppers in-store with access to the online inventory. In this way,
Support seamless payments
your shoppers can make the purchase, even if their item was not
Contactless payments have been around for some time, but the
in stock, and arrange to have it delivered to a location of their
advent of Apple Pay has pushed them front of mind. 22% of survey
choice. So the sale is saved and your customer leaves satisfied.
respondents said they would like to see contactless payment
Adyen worked with The Cambridge Satchel Company to
options in-store. There is a clear linear connection between the
introduce Endless Aisles to their stores in preparation for Black
introduction and availability of new payment technologies and
Friday 2014. The result was a 124% year-on-year increase in Black
their increasing acceptance. Therefore, retailers should identify
Friday sales.
and support the payment methods used by early adopters, and

consider how they can be used to deliver tangible benefits to
Eliminate checkout queues
these shoppers across all sales channels.
Another frustrating loss of sale is when a shopper leaves the

store because of the checkout queue as was the case for 55%
Adyen supports 250 payment methods worldwide and was one
of survey respondents. By equipping staff with mobile point-of-
of the first official partners of Apple Pay in-store and online in
sale (mPOS) terminals, retailers can deliver a faster payment
both the US and the UK. Its clients are always at the forefront
experience and close more sales.
of the latest payment trends, able to both anticipate and exceed

customer expectations.
16
Roelant Prins
CCO
Adyen
Deliver a personalised payment experience

We are familiar with one-click payments. Amazon blazed the trail
online, offering 1-Click as early as 1999. Shoppers are used to
About Roelant Prins: Roelant is responsible
sharing sensitive information and 21% of survey respondents
for commercial activities at Adyen. After starting
confirmed they would be comfortable providing personal data if
his career as a consultant, he moved on to
it were used to enable a fast checkout for subsequent purchases.
the online payments industry in early 2000.

Throughout the years, Roelant has held various
The next step is to extend this personalised payment experience
international management roles in sales and
to offline channels. This requires the storage of highly sensitive
business development for companies providing
payment data, which can be a nightmare for retailers in terms
payment solutions to international ecommerce
of PCI compliance. Adyen uses tokenization to store shopper
businesses.
payment data on its own server so retailers can support one-click

or zero-click payments across all payment channels, safe in the
About Adyen: Adyen is the only payments
knowledge that their shoppers payment data is secure.
solution that has built a completely new set

of rails connecting to the card schemes and
With a unified omnichannel payments solution, retailers gain access
local payment methods, and the only solution
to valuable cross-channel shopper data, which can be used
to accept ecommerce and point-of-sale
to tailor the experience to individual shoppers. With this comes
payments in a single platform. Due to this,
enormous potential for incremental sales growth and increasing
Adyen is becoming the go-to solution for global
customer loyalty.
merchants including Mango, ONeill, Crocs and

Superdry.
Unlock your potential with omnichannel payments

With omnichannel payments, retailers can provide their customers
www.adyen.com
with an easy, personalised checkout experience, wherever and

however they choose to pay. Critical to success is the consolidation
of payments operations. Adyen is unique in that it is able to offer
its customers a single platform that will manage every step of the
payment flow regardless of location, currency, payment method or
channel. The result is a frictionless customer experience, valuable
cross-channel conversion data and a significant competitive
advantage.
17
Ingenico Group
Ingenico Group took on a new dimension to offer seamless e-payments worldwide
Youve recently appointed Pierre-Antoine Vacheron
With the emergence of new consuming habits and ever-growing
EVP e-Payments. Is that new division a pillar of your
touchpoints, this is truer now more than ever. Not only we must
Group strategy? Are you stepping up towards online
provide the right technology but also the right consultative approach,
services?
with tools such as Elevate.
Although Ingenico Group has traditionally been the leader of the

payment terminal market, our business has changed. Todays consu
Can you tell us more about Elevate?
mers tend to switch from one sales channel to another and, for
We created Elevate both to provide merchants with a fast and
this reason, merchants are opting for solutions that can offer their
easy way to grow their business and because we saw that a lot
ultra-connected customers a consistent and seamless purchasing
of our merchants had trouble with getting good insights into their
experience, whether it is in-store, mobile or online.
business.
Ingenico Groups online payment business saw a turning point in
Elevate is a reporting tool and it is about opportunities. It is an
2014 with the acquisition of GlobalCollect. The Group took on a
intelligence tool that gives knowledge to the merchants so that
new dimension to offer seamless e-payment worldwide.
they can make better decisions based on big data, build their
knowledge around opportunities and get better performances.
With both Ogone, which we acquired in 2013, and GlobalCollect,

we expanded the rollout of our global service strategy and marked
Could you explain the value of Elevate towards your
a new stage in the transformation of the Group in favour of cross-
merchants?
channel initiatives. This move provided us with the opportunity
The main strength is that it was developed based on the real
to become a global player in the online payment market and to
business questions that our merchants had. We talk a lot with
replicate our in-store payment services leadership through our
our merchants and use their input to continuously improve and
online payment services.
expand the product. This way we also make sure that every new
dashboard we introduce provides value and helps our merchants.
We want to play an increasingly active part in new trends in commerce

as they emerge, and I am happy to share some news with you:
Elevate is a very visual, interactive, time-saving and easy-to-use
as a logical next step, we are in the process of creating a new
tool. The benchmarking functionality provides great value for our
commercial brand: Ingenico ePayments. The appointment of
merchants, allowing them to compare their performance relative to
Pierre-Antoine as EVP ePayments fully reflects our strategy to
their peers in the industry.
position the Group as the leading provider of innovative payment

solutions across all channels.
Whats next for Elevate?

We are committed to further expand Elevate based on the feedback
18
Merchants dont buy a product or a solution from us; they buy our
we receive developing new insights. However, the big thing we
expertise and our knowledge. It is through our knowledge that they
want Elevate to focus on is to not only show the performance of the
can enhance consumer engagement, improve their sales and in
merchant but also to provide predictions and recommendations on
the end deliver their promise to their customers.
how and where the merchants can improve their business.
Philippe Lazare
Merchants dont buy a product or a

solution from us; they buy our expertise
and our knowledge
Talking about predictions, where do you think
Chairman and CEO

Ingenico Group
technology and innovation will take you in the next
About Philippe Lazare: Before joining Ingenico
decade?
Group in 2007, Mr Lazare (1956) was Executive
I believe trends will accelerate. From an innovation standpoint, we
Vice President of La Poste and CEO of its retail
must focus on trends, both globally and locally, and continuously
activity, where he was in charge of developing
deliver frictionless payment experiences, with a mobile-first
and optimizing what is Frances the largest
approach. Mobile commerce growth is already outpacing traditional
distribution network in France. He also held
ecommerce growth, and the consumer experience on a mobile
management positions at Sextant Avionics,
device will increasingly determine the success for online merchants.
a division of Thales and at Groupe PSA.
We are a strong player because we offer advanced and developer-
About Ingenico Group: Ingenico Group
friendly solution with a very large coverage. Consumers expect
(Euronext: FR0000125346 - ING) is the global
fast and easy payment on mobile, and our ePayments division
leader in seamless payment, providing smart,
is building new mobile commerce interfaces to help merchants
trusted and secure solutions to empower
increase their conversion rates and provide the best possible
commerce across all channels, in-store, online
consumer experience.
and mobile. With the worlds largest payment

acceptance network, we deliver secure payment
solutions with a local, national and international
scope. We are the trusted world-class partner
for financial institutions and retailers, from small
merchants to several of the worlds best known
global brands. Our solutions enable merchants
to simplify payment and deliver their brand
promise.
www.ingenico.com
19
yStats.com
Consolidation in Online Payments: Growing Through M&A and Investment
The global online payment industry is currently experiencing a stage
Services in order to enhance the North and Latin American
of growth. B2C Ecommerce sales worldwide, the main growth
Ecommerce payments business of DataCash, MasterCards own
driver, increase every year, already exceeding USD 1 trillion and
online payment gateway.
predicted by eMarketer to top USD 2 trillion in 2017. Meanwhile,

global online retail payments are forecasted to climb closer to 40
billion transactions per year in 2015, according to Capgemini .
Some of the traits common for industries at a growth stage of the life
cycle have been observed in online payments. Major players have
been acquiring smaller competitors and building large networks,
while fast developing emerging players have attracted significant
investment. Both types of online payment providers are motivated
by similar aims in their acquisitions and funding activities, such as
tapping into new markets and increasing their geographical spread,
expanding the payment options offerings and covering more retail
payment channels in an increasingly omni-channel world.
There are multiple recent examples that illustrate the abovementioned
trends. In 2014, Ingenico Group acquired another European
payments provider, GlobalCollect, to join it with Ingenico Payment
Services, the groups digital payments processing unit already
consisting of previously acquired online payments companies,
Another possible way of reasoning an acquisition strategy is based
such as Ogone, Easycash and others. GlobalCollects worldwide
on both geography and market offering expansion. In some emerging
reach and solid customer base of large merchants complement
markets credit card is not the most used payment method in B2C
Ogones European coverage and Tier 2 and Tier 3 merchant base.
Ecommerce, with consumers opting for alternative methods like
Considering that the worlds Ecommerce growth potential lies
cash on delivery or bank transfer. Also, in advanced markets,
within the untapped emerging markets, which are targeted by major
offering more payment methods is one possible way to market
online retailers, striving for a global reach is one possible market
online payment services to merchants that are willing to please their
expansion strategy.
customers with diverse payment method preferences. Germanybased payments company Wirecard carried out acquisitions in late
Geographical expansion through acquisitions could also be aimed
2014 and early 2015, seemingly aimed at both expanding to new
at advanced regions which already have large online retail payment
markets and offering new payment methods like mobile payments
volumes for the companies to process. North America is one of
and prepaid cards, including the acquisition of GFG Group Limited,
such regions. The US alone generates over USD 300 million in B2C
a company from New Zealand working with mobile network
Ecommerce sales value, according to Forrester, and is still the
operators and financial institutions, and an Asian subsidiary of Visa
largest online retail market in the world in pure B2C sales, though
Processing Services.
outpaced by China if this countrys C2C segment were also to be

included. For instance, at the end of 2014, MasterCard completed
Finally, covering more retail channels is another avenue for
the acquisition of the Gateway Services unit of Transaction Network
online payment companies to pursue in strategic development.

Consumers buy across various channels such as online, in-store
and on mobile, rather than just one, and often mix them through
20
Ycel Yelken
CEO and Founder
yStats.com
activities such as webrooming and showrooming, thus encouraging

merchants to offer more omni-channel functionalities and a seamless
cross-channel shopping experience. Hence, the more channels a
About Ycel Yelken: Ycel Yelken, ASU
payment processor offers, the more merchant needs it addresses.
Thunderbird School of Global Management
To develop cross-channel capabilities in a technology-intensive
alumnus, has a combined total of over 15 years
industry, substantial funds are needed, with one way to raise
of B2C Ecommerce and online payment market
them being through attracting investment. Adyen, a primarily
research experience, having worked for a leading
online and mobile payments provider based in the Netherlands,
global Ecommerce company before founding the
attracted USD 250 million in funding in December 2014, which
successful yStats.com.
brought the companys valuation to more than USD 1.5 billion, as
The Financial Times reported. The investment was planned to
About yStats.com: Founded in 2005 and
be used for developing an in-store payments offering, as well as
headquartered in Hamburg, Germany, ystats.com
expansion in Asia and the US.
is one of the world's leading secondary market

research companies committed to providing
As the online payments market continues to grow along with
up-to-date and objective data on global B2C
global B2C Ecommerce in the coming years, we can expect more
ecommerce and online payment markets to
consolidation and investment activity to account for the persistent
sector-leading companies worldwide.
trends of geographical and cross-border expansion, the rise of

alternative payments and the importance of omni-channel retailing.
www.ystats.com
21
EXPLORING
CROSS-BORDER:
THE BIG GAME IN
ECOMMERCE
MRC
Business Intelligence: Multiple PSPs Compare Performance
Once business has grown, it is always safe not to only rely on a
However, if you are bound to expand fast and globally, this is
single provider. Multiple providers will provide complementary
definitely not the most convenient choice because collecting and
payments method portfolio, failover, load balancing and of course
international platforms can be a smarter choice for expansion,
keeping the pressure on the budget.
although it comes with a higher price tag per transaction.
Living in a competitive world
Words of merchants vs your own experience
PSPs have popped up like popcorn at the movie theater in the
Many merchants still do not rely on the community to get a
payment space thanks to the growth of ecommerce. They have
feedback on PSPs. Getting knowledge fast is critical and real
become so numerous that it has become difficult to list them all.
feedback comes from fellow peers that already have experiences
Nowadays, merchants are like consumers in the supermarket
with the PSPs. Some PSPs have also questionable knowledge of
in front of various goods and not knowing which one to pick.
local markets, so do not just turn over the brochure and check
The market is already significant and still expanding fast. Now,
your requirements, refunds and settlement can often be left behind
retail and digital are merging and are trending toward omnichannel,
in their platform.
making things even more complex. Although many claimed to be

better than their competitors, it appears that only a few can come
Multi PSP roommating or how to set competition
on top of this melee.
drivers
Once your multiple PSPs are set up, you will need to be able to
Sourcing multiple payment providers
allocate business shares to each PSP.
How many of us have performed a RFP for sourcing a new solution

provider to tag along the way? However, no matter how skillful we
KPIs: MRC have set a few ones for benchmarking the industry
are, there are always surprises. So its always a tradeoff between
and they are already a great step forward. These KPIs have a
benefits and drawbacks. Merchants have to define their focus and
purpose to serve and one should keep it in mind: benchmarking
objectives: payment page integration, support, portfolio of payment
the operational excellence of your providers.The playing field
methods, collecting features, reporting and business intelligence
should be properly designed and each PSP should be aware of
platforms. It all comes down to what your requirements are. As
the rules. Most common are costs, conversions, authorisation,
always, the devil is in the details and the perfect PSP is yet to come.
approval, soft decline vs hard declines per device, availability of

the platform.
Should I go for local or global PSPs?
Objectives can vary for each company so choose KPIs accordingly
It all depends on your strategy, i.e. some markets are so specific
P ricing comparison: onboarding several PSPs enables you to
that a global PSP cannot provide strong local insight and payment
benchmark cost and definitely helps getting the best pricing.
culture subtleties. If your market is mature enough, you should
Periodic reports on KPIs: have your PSPs or your BI team provide
have a local dedicated payment manager. A local payment
you with reportings. Have your recurrent follow-up call with your
manager for handling local PSP will most likely improve conversion
PSPs.
due to local payments knowledge. However, cost-wise, it will be
Service Level Agreements: SLA were designed to maintain some
more expensive due to the additional headcounts. Nonetheless,
QoS with PSPs. Include them in the KPI you share during your
some countries are culturally tied, some local operators only work
recurring meeting with your PSPs. Make sure you execute the
better with local operators or merchants. Some large merchants
penalties when you believe fit and that indicates the vendors
can have this strategy.
have been faulty. Repeated mistakes can indicate lack of

professionalism.
24
MRC
Building
Son Nguyen
vente-privee
Better Commerce
Finance Program Director
Human factor: behind companies, behind technology, never forget

that it is people who drive the business. A good cast can make
a difference. It might sound harsh, but sometimes having the
About Son Nguyen: Son is Finance Program
right person that can fit in the relationship makes the difference.
Director at vente-privee. He oversees global
In short, if you believe your account manager is not the right fit,
strategy, product roadmap for payment and
ask for a replacement.
fraud. Son is an EU board member of the

Merchant Risk Council and part of the French
Payment is not always about cost
Merchant association FEVAD.
Many merchants believe that payments processing is a cognitive

science where all results are predictable. But, seasoned veterans
About MRC: The MRC is a nonprofit global
of this industry will tell you otherwise. Pricing in the payment world
forum for ecommerce fraud and payments
is complex to benchmark. You can have 4 PSPs with a specific
professionals. It was launched in 2000 by a
pricing model for each one of them and various performances
small group of industry professionals from
and features. I recommend defining a common matrix for price
leading consumer brands, with a primary goal
comparison for basket average value and according to the volume
to combat online fraud in the card not present
processed. Add to it performance KPIs you wish to follow for each
space. The MRC later added online payments
of your PSPs. It might be worth having financial controllers and
to its portfolio, expanding its presence further
data scientists going through your data. Optimal mix calculation
into ecommerce.
can be quite an undertaking and not to be underestimated.
www.merchantriskcouncil.org
For example, some cost savings like going cross-border in EU
can have an impact on interchanges budget but, in some cases,
conversion can be impacted as well. Is saving 20% on your fees
worth losing a 10% on your revenue, or maybe not? But how about
30% savings vs 1% of loss conversion? There is no silver bullet,
only the fact that you need to define your optimum and key drivers.
25
Wirecard
The Appeal of Cross-Border Ecommerce for Neighbouring Countries
These days, starting a new online shop in the home country is
If goods were to be transported to Asia or the US, costs relating to
relatively easy. A shop can be launched with a good combination
currency exchange and shipment may impact the buying experience
of payment methods in just a few simple steps. However, if online
and ultimately also increase prices. One exception in this regard:
merchants wish to expand abroad, they are confronted with a
if digital products are being sold online, because these, of course,
variety of challenges: other languages, different buying habits and
do not generate transportation costs.
unfamiliar payment preferences.

The European Union is working on establishing new standards
Despite this, online merchants should not be afraid of looking
that will make online trade throughout Europe less complicated.
beyond their own borders, because cross-border ecommerce offers
The introduction of SEPA in January 2014 is just one example.
great potential. Never before have online retailers been able to
This has reduced the complexity of cashless payment transactions
sell abroad as easily as they can today. The ecommerce market is
within the eurozone. As a result, payment by direct debit has
booming, with successful international online merchants generating
become more popular as a payment method in the eurozone.
sales worth billions. OC&C Strategy Consultants and Google predict
Previously, it was only really known in Austria and Germany.
that the online sales volume attributable to cross-border sales will

increase fivefold by 2020 in six of the largest ecommerce markets,
Its important to create standardised solutions
including Germany.
Standardised solutions such as these are important as they reduce

the barriers to cross-border trade. Many cultural differences remain
According to a recent study by Research and Markets, Asia and
within Europe, including with regard to payment preferences.
the US are indeed the powers dominating the global cross-border
For example, in Poland a country with very strong ecommerce
ecommerce market, with experts predicting that the Asia-Pacific
growth shoppers often opt for local online payment methods such
region will account for around 40% of global internet retail in
as Prezelwy24 (P24). Even in the Netherlands many place their trust
the coming years. Nonetheless, Europe is also advancing. Trade
in national online banking-based processes such as iDEAL, while in
between EU members has intensified quite significantly over the
Belgium Bancontact and Mr. Cash are popular. Foreign merchants
past few years.
wishing to operate in these ecommerce markets have no choice

but to adapt. The same applies for debit card acceptance which is
New growth potential
widespread in the UK.
This is a good sign for both merchants and consumers: customers

benefit from an ever greater choice of products and are better able
Efforts are also being made to improve standardisation in the
to compare prices. For online merchants, cross-border ecommerce
area of risk minimisation for customer verification. The European
opens up growth potential by appealing to new customer groups.
Banking Authority has issued new guidelines on the security of
However, sellers should bear in mind that the most promising
internet payments, according to which payees will have to submit
prospect is to first turn to the neighbouring countries before
two separate factors for authentication in online transactions.
endeavouring to expand into the rest of the world.
Guidelines such as the Secure Pay Directive (PSD II) show that the
European Commission intends to make cross-border payments
Why? Because there are generally fewer hurdles to these countries.
faster and more secure in order to minimise the risk for end
The customers live in a similar cultural sphere, may even speak the
consumers.
same language and use the same currency. In addition, it is easy to

calculate the transport paths and shipping costs.
26
Linda Uhl
Head of Platform
Development and
Innovations
Wirecard
New security methods for all countries
This effective method for countering data theft and misuse is
known as two-factor authentication. It involves two specific
About Linda Uhl: Linda Uhl is Head of Platform
information requests and the combination of two different
Development and Innovations at Wirecard, a
communication channels. For example, for online purchases, just
leading payment service provider. She is an
the card number and CVC code are required. In a second security
expert of cross-border ecommerce and involved
level, customers receive a one-off password or verification code
in the ongoing development of Wirecards
on their smartphone via SMS, which they then enter to confirm
international payment portfolio.
the transaction. It is also possible to use other biometric data or

(hardware) tokens. This straightforward, momentary change of
About Wirecard: Wirecard AG is a global
media makes it significantly more difficult for hackers, whilst still
technology group that supports companies
ensuring a customer-friendly buying process.
in accepting electronic payments from all

sales channels and countries. As a leading
Standardisation is also required when it comes to the development
independent supplier, the Wirecard Group
of alternative payment methods. Acceptance in society is becoming
offers outsourcing and white label solutions for
ever higher, with the variety of alternative payment options growing
electronic payments. Wirecard AG is listed on
at the same time. With this in mind, it is important that banks work
the Frankfurt Securities Exchange.
together throughout Europe to establish uniform alternative payment

processes and standards on the market. If every bank has its
www.wirecard.com
own solution, there is a danger that both consumers and online

merchants will find the situation confusing.
Of course, it takes time to establish new initiatives, such as
SEPA, which are aimed at benefiting many different countries. It is
therefore all the more important to launch further initiatives. Trust is
absolutely essential for cross-border ecommerce: if customers feel
secure in an online shop, with payment methods they recognise and
feel it is reputable, they are more likely to shop there again.
Payment providers like Wirecard support online merchants in
mastering this challenge. With a German bank licence and expertise
as a financial technology provider, Wirecard is proficient in handling
cross-cultural payments and their processing.
27
PayU
Cross-Border Ecommerce: How a Local Approach Can Make the Difference
As companies look beyond their borders for new opportunities,
2. Use a local acquiring bank
they are often faced with an enticing opportunity to start selling
By ensuring that you are using a local acquiring bank rather than
online in markets where the growth far outpaces what is happening
an international one will significantly help your approval rates.
at home. But this also comes with a web of complexities that are
We have seen merchants in Brazil increase their conversion rate
not encountered in your primary market(s). These complexities
from 20% to 75% by changing from an international acquiring bank
provide new opportunities to merchants, but they also require a
to a local one.
distinct strategy to fully take advantage of the double digit growth

in these markets: a local approach.
Another important reason to use a local acquiring bank is to

be able to offer consumers the option to pay via credit card
It is important to note that going local does not always mean that
using instalments. Instalments, essentially, are where the credit
your company must have a legal local entity in each country. There are
card issuing bank allows for the consumer to pay for his
many instances where it is not necessary, depending on the country
purchase in a specific number of instalments, rather than all
and what you are selling.
up front. The cost of this option is paid by either the consumer,

merchant or bank, depending on the specific promotion.
Below, there are my top recommendations to ensure your business
The details vary by country, but this alternative provides an additional
can take advantage of the opportunities in growing markets by
incentive for the cardholder to make the purchase. In Turkey, 80%
implementing a local approach.
of transactions are made with credit card and of those, 85% use
instalments. In Argentina, because of the high levels of inflation,
1. Offer local and alternative payment methods
many consumers will only make online purchases with credit cards
In many of the high growth markets where we see ecommerce is
where there are promotions for instalments without interest.
increasing in the 20% range, the local markets do not have the bank
nor credit card penetration rates that we see in Europe and the US.
3. Go local on fraud management

Online fraud and its behaviours can vary greatly market-to-market.
While the credit card penetration rate varies by country, in many
What works well in one market to detect fraud, might not work in
of the markets where PayU operates, the credit card penetration is
another market. Having a company that is local and understands
less than 50%. By only offering consumers in these markets credit
what the trends in fraudulent activities are, will minimise your risk
card payments, you could be missing out on more than half of the
of fraud and maximise your conversions. It is also important to
market. Many of the transactions we process in these markets are
have a connection to the local credit bureaus and databases to
made via local credit cards (not associated with an international
ensure the evaluation data is the most up-to-date and valid. In
franchise), debit cards, bank transfers, cash payments, cash on
PayU, we have in-house fraud systems that have been built and
delivery, e-wallets and more. In Poland, more than 60% of the
adjusted over the years with data from the local markets to ensure
transactions are paid by bank transfer, whereas in Argentina, more
we are always one step ahead.
than 50% of the transactions are paid in cash.
4. Understand the trends and habits of consumers

Other countries like India are seeing dramatic growth in the use
Each market has different behaviours and levels in the development
of e-wallets and other state-of-the-art technologies. The reasons
of its ecommerce industry. Knowing the local consumer behaviours
and the trends for the alternative payments come from a variety
will help ensure that the way you are planning to reach and sell to
of circumstances, including everything from the economic state of
the local market will work. For example, the checkout process and
the country to the consumers access to technology to purchasing
information requested varies dramatically per country.
habits of consumers.
28
Martin Schrimpff
Head of Global Sales
PayU
It is important to understand what consumers are accustomed to

provide when making a purchase online, to maintain a low level of
abandonment during the checkout process. Trends are also moving
About Martin Schrimpff: Martin Schrimpff
quickly in many markets to mobile purchases. Those who cannot
is the Head of Global Sales and a co-founder
afford a personal computer, but own a mobile, are expecting to
for PayU. With over 13 years experience in the
have an easy user experience while purchasing via a mobile device.
payments and tech industry, he is responsible
If you do not offer what the local market expects, you will not be
for supporting multinational merchants to enter
able to capitalise on the growth potential of these markets.
the markets where PayU operates.
To reiterate, there is a huge and growing opportunity to increase
About PayU: PayU is a leading online payment
sales by going cross border. In many of the markets where we
service provider dedicated to creating a fast
operate, we are seeing more than 20% growth year-on-year and
and secure payment process for merchants and
that is not expected to change over the next few years.
buyers. Our presence in 16 high growth markets

and local focus enable us to be the experts and
However, to fully take advantage of this, you must genuinely
provide the best solutions for each market.
understand what it is to go local in each market, as each one is
PayU makes up the e-payments division of
different. If you offer your customers the most user-friendly
Naspers Ltd.
experience, your cross-border sales will be successful.
www.payu.com
29
East-West Digital News

How Chinese Giants Have Become a Driving Force for Russian Ecommerce
and E-Payments
Since both the RUB and consumers demand began falling
inked a deal with Ulmart, Russias leading domestic ecommerce
in 2014, Chinese online retailers have seen their share of the
company. JDs products will be promoted and sold via the Ulmart
Russian online retail market increase dramatically. While many
website by using its fulfilment centers and pick-up points across
Western ecommerce companies have seen their sales to Russian
the European part of the country.
consumers stagnate or fall, Alibabas subsidiary, AliExpress, has

become number one ecommerce operator in Russia by
Among other major Chinese players having entered the Russian
traffic and number of fulfilled orders, overrunning even the most
market over the last couple of years are DinoDirects subsidiary
popular Russian websites.
Osell, which is developing an original B2B2C approach, as well as

LightInTheBox.com and DealeXtreme.com.
In late 2014, the Chinese B2C platform sent hundreds of thousands

of packages to Russian consumers every day, and the numbers
Even more recent Chinese entrants are DHgate.com, TradeEase
were reported to have been growing in 2015.
and Umkamall.com, which began operating in Russia in August

and September 2015.
Thus, Chinese merchants are capturing almost the entire growth

of cross-border ecommerce flows to Russia. In 2014, their share
Worthy of note are also such Russian platforms as Kupinatao,
accounted for around 70% of fulfilled orders and 50% of market
Shopotam and Vivatao, which offer a fully localised interface as
value, according to expert estimates cited in EWDNs recent study.
well as mail-forwarding services to make purchases on Chinese

websites even easier.
While Russias production capacities in the field of consumer

goods are widely known to be the weak point of the countrys
Traffic of some domestic and foreign ecommerce websites in Russia
economy, its neighbour, China, has plenty of resources to
(number of monthly visits in July 2015 with changes in % from July 2014)
manufacture these goods. The low priced Chinese-made goods

are ultimately the biggest attraction for Russian consumers,
especially as the Russian economy experiences slowing economic
growth and the RUB continues to depress against the US dollar.
First step to global expansion

Although AliExpress has been one of the first, it was not the only
large Chinese B2C player coming to Russia. In June 2015, JD.com,
Chinas largest online retailer, launched a Russian version of its
platform as the first step in its global expansion strategy. Its stated
goal was to conquer a 20% share of the Russian ecommerce
market. JD.coms English version had already been accessible to
Russian customers for two years, but with no marketing effort or
Source: SimilarWeb via A Petrovsky (Price.ru / Rambler & Co)
adapted logistics to serve them.
Payment innovations
30
Now, JD is ready to invest several dozens and up to one hundred
Not only have these players had to localise their interface, at least
million dollars to develop logistics facilities in Russia, said Victor
partly, while coming to Russia, but they have also had to comply with
Xu, President of JD.coms international business group, as quoted
Russias new legislation on personal data storage and adapt
by the Russian media. Moreover, the Chinese online retailer has
their processes to address the countrys idiosyncrasies.
Adrien Henni
Chief Editor and
Co-founder
East-West Digital News

In certain cases, innovative payment methods have been launched.
Thus, the AliExpress platform accepts payments via QIWI, Yandex
About Adrien Henni: The author is co-founder
Money and WebMoney, the three leading e-currency operators
and chief editor of East-West Digital News.
which combine online and offline payment channels across
After 10 years of experience in the digital
Russia. The Chinese company has also made mobile payment
and venture industries in France, Russia
methods available, with Alibabas in-house payment system, Alipay,
and Ukraine, Mr Henni advises a variety of
partnering with Russian payment company Rapida and mobile
companies.
solution provider Soyuztelecom. These payment methods have

been made available to subscribers of the four main Russian mobile
About East-West Digital News: East-West
operators Beeline (VimpelCom), MegaFon, MTS and Tele2.
Digital News is an information company

dedicated to digital industries in Eastern
Mobile payments have been developing fast over the past few
Europe. Its websites EWDN.COM and UADN.
years in Russia, with all major mobile carriers launching ambitious
NET provide news and business analysis on
mobile payment platforms. So far, however, this payment method
Russia and Ukraine. The company also provides
has been used essentially to settle utility bills and online services
in-depth industry reports and consulting
rather than for online purchases of physical goods, as analysed
services to international players.
in EWDNs ecommerce research . In a certain sense were

pioneers in this field, commented Mark Zavadskiy, AliExpress
www.ewdn.com
business development director in Russia.

Whats more, AliExpress has teamed up with Russian online bank
Tinkoff Bank to launch a co-branded loyalty program. Associated
with MasterCard credit and debit cards, this programme is the first
of its kind in the world, said Zavadskiy.
DHgate, too, has been relatively innovative by launching a cashon-delivery offer in partnership with QIWI and express shipment
operator SPSR Express.
Cash-on-delivery is, by far, the main payment method in Russian
ecommerce as far as physical goods are concerned, as consumers
are reluctant to pre-pay their orders through electronic means.
However, the cash-on-delivery option had been the exception
in cross-border sales, with SPSR only launching pioneering
experiments in 2013 and 2014.
East-West Digital news has published an in-depth report on
ecommerce and e-payments in Russia. To download a free
summary, please click here.
31
IMRG
Cross-Border Ecommerce: A Big Opportunity and a Major Challenge
Ecommerce - a global perspective to growth
Foresters report, Seizing the Cross Border Opportunity, highlights
As digital penetration grows, so does ecommerce. Consumers are
that these new growth avenues are not only for the global
getting comfortable and more adventurous in their online purchasing
retailers, but also for SMEs. They are well positioned to leverage
habits. They also have a choice of devices which means that the
the increasing availability of support and delivery services and
larger section of the population has access to virtual shopping.
marketplaces, whilst offering unique merchandise and addressing

the varying needs of the international consumer, often overlooked
However, the rate of growth in the developed markets is slowing
by the large retailers.
down whilst the other regions, such as Asia, Latin America and
Eastern Europe, are developing fast and with huge growth capacity.
Language plays an important part. English speaking countries tend
The online sales percentage, from overall sales, ranges from 27% in
to sell and buy more abroad while those countries with language
Denmark, 24% in the UK, 12% in China and 7% in the US to less
ties such as Spain and Latin America will have a closer online
than 1% in India and Indonesia (Eurostat, IMRG).
trading bond.
Currently, China leads, with USD 565 billion predicted in 2015.
Finally, marketplaces like Amazon, Alibaba and eBay are allowing
The US is second, with USD 349 billion and the UK is third with USD
borderless transactions for everyday items with the same ease
104 billion. From 2014 to 2015, there was a staggering 35% growth in
as shopping at local corner shop. According to a recent study
China, whilst 16% in the US and 17% in the UK. Russia and Brazil are
conducted by the Ecommerce Foundation, collectively they will
also growing by high double digit percentage (eMarketer, December,
own almost 40% of the global online retail market by 2020.
2014). The European ecommerce is growing dramatically, collectively

being second after China. It grew by 16% in 2014, with total volume
Planning for challenges
of USD 410 according to the Ecommerce Europe trade group.
Selling online in multiple countries removes traditional barriers

like opening shops and legal entities, but it entails additional
The desirability of cross-border sales
challenges: retailers need to understand many new areas to
As the developed markets are looking for further growth, they are
them in order to comply with the regulations, satisfy customer
starting to explore the emerging opportunities abroad. According to
expectations and stay competitive with the locals.
2014 eMarketer study, cross-border ecommerce sales reached USD

300 billion, nearly 25% of the global ecommerce flow. Consumers get
Packing and postage charges can easily exceed the price of the
more familiar with digital shopping and start seeking cheaper, better
goods themselves. This is often not obvious from the initial search
quality or unique products abroad.
and frustrates the consumer when it becomes apparent only at

checkout. Intelligent shopping carts and clear labelling are key to
Whilst China and the US are by far the biggest cross-border
getting this right.
markets, some European markets rely heavily on selling

abroad, with the Nordic countries like Denmark, Finland and
Returns can prove notable customer satisfaction challenges. Is it
Lithuania being ahead of Italy, France or Spain. Building on
worth sending a product bought through a marketplace from Indonesia
the retailer interest to sell abroad, AT Kearney has devised a Retail
back and pay for delivery of the replacement? Clear policies and
Ecommerce Index, weighing up a number of criteria such as online
product strategies are needed, and the use of local delivery and
market size, consumer behaviour, growth potential and infrastructure
support companies can help address this better.
to publish a list of the most desirable ecommerce markets. The top

ten list in 2015 is, as follows, from top: US, China, UK, Japan, Germany,
France, South Korea, Russia, Belgium and Australia.
32
Masha Cilliers
Digital Payments
Consultant
IMRG
Accepting international credit brands like Visa, MasterCard or Amex
can be challenging. Generally, the schemes prohibit acquirers
working with retailers from other countries than theirs, meaning they
About Masha Cilliers: Masha Cilliers is
will have to work with their local providers for international payment
Digital Payments Consultant with 20+ years
acceptance. Thus, retailers will not benefit from the local, frequently
experience in the payments industry. Prior to
much lower card fees: their domestic payment providers may not
becoming a consultant, she played key strategic
be as well informed about the specifics of the foreign markets as
management roles at DataCash, GlobalCollect
the local providers. New payment methods are announced every
and Cybersource. Before that Masha worked at
week, such as the well-publicised launch of Apple Pay and, whilst
Microsoft and Visa.
some of them might not get a chance to gain market share, others
already have and will have and be very much accepted and even
About IMRG: IMRG (Interactive Media in Retail
expected by the consumers.
Group) is the voice of online retail in the UK.

We are a membership community comprising
The VAT system in the EU has changed recently and the companies
businesses of all sizes multichannel and
selling abroad over a certain volume will have to register locally
pure play, SME and multinational, and solution
for the value add tax. There are also various regulations as to the
providers to industry. We support our members
information about taxes and how it should be presented to the
through a range of activities including market
consumers online, not to mention the different types of consumer
tracking and insight, benchmarking and best
rights and chargeback processes for the variety of payment
practice sharing.
methods used abroad. As an illustration, the direct debit transaction

in Spain is open for chargeback indefinitely, whilst in the UK it
www.imrg.org
expires after six months.
Conclusion
Indeed, cross-border is the growth area of ecommerce. But, there
are many aspects of it which retailers should study carefully before
committing to the glories of international trade!
33
PAY360 INNOVATE
25 November 2015, Vinopolis, London
Advancing Payments Innovation
Join us at the Emerging Payments

Associations flagship event to discuss
the latest in payments innovation.
Highlights include:
SPONSORSHIP
AND EXHIBITION
OPPORTUNITIES
STILL AVAILABLE
Our Innovate showcase featuring the latest trailblazers

of the emerging payments industry. Watch them demo
their new products and vote on the ones to watch!
The big banking debate featuring a range of challenger
and traditional banks to discuss the impact of new disruptive
PayTech innovations are we at the Uber point for banks?
Keynotes from renowned FinTech investment expert Matteo
Rizzi, SBT Venture Capital on PayTech investment trends,
and Dr Nicola Millard, Head of Customer Insight, BT
about putting the I into intelligent customer services
A dedicated PayTech specific exhibition to meet the
Payments people who count!
Join the conversation
@EPAssoc #EPAInnovate
Tel: +44 207 378 9890

emergingpayments.org
events@emergingpayments.org
USE CODE
PAYPERS10 TO
SAVE 10% OFF
OUR CURRENT
REGISTRATION RATE.
DIGITAL
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arvato Financial Solutions
We aim to make the complex payments world simpler. Hence, we strive to make merchants lives less cumbersome.
What are the strategic challenges that merchants
We view ourselves as an aggregator of best practices and
face when choosing and implementing alternative
constantly challenge our setup in order to deliver globally local
payments?
payment services. We want to be regarded as a valued partner by
The main challenges include proper research regarding local
our merchants.
penetration and growth rates, as well as legal and technical

constraints. Selecting the true local payment heroes is key when
In an internet economy, cross-border ecommerce has
it comes to checkout conversion optimisation. Yet, the selection
become commonplace. What are the implications
process is rather difficult. There are so many APMs around
for online fraud internationally and how does this
hundreds globally - and it is not always easy to assess which APM
influence merchants' strategies?
is truly necessary in a certain market for a specific merchant vertical.
To most international players it is not adequate anymore to limit
Plus, additional APMs pop up all the time, sometimes shifting the
payment options to cards. As ecommerce is maturing, merchants
APM landscape and making established players obsolete.
are more focused than ever on delivering local payment solutions

to cater to local demands and, at the end, to increase payment
Once a merchant has agreed on its APM strategy, the real
conversion. By diversifying payment options, merchants are also
workload unfolds. Even if the merchant is working with collecting
faced with novel process flows and fraud issues associated with
PSPs, some alternative payment methods require the merchant
specific payment methods.
to sign a direct contract. This puts a burden on the merchants

legal team. Furthermore, technical implementations are necessary,
For instance, a common parameter of any fraud solution is the
blocking scarce IT resources.
physical address. At the end, the fraudster wants to receive the

goods he fraudulently ordered, yet he does not want the transaction
How does arvato Financial Solutions address these
to be linked to his local address. Thus, the risk potential of internatio
challenges?
nal shipping addresses needs to be assessed. Sometimes, fraudsters
We aim to make the complex payments world simpler. Hence, we
also take advantage of newly developed omnichannel strategies.
strive to make merchants lives less cumbersome. By conducting
If goods can be ordered online, but picked up at the store, an
thorough APM research, bundling contracts whenever possible and
important parameter (the address) is lost. Professional fraudsters
providing a single gateway for international payments, we simplify
make use of that fact and try to use the circumstance to their
processes for our clients.
advantage. This means that the fraudsters themselves impact

merchants decision making.
What differentiates your API model from others?

We realised early on that there is no one-stop shop when payment
Different local payment solutions influence merchant strategies.
methods are concerned a realisation triggered by our own merchant
For example, open invoice, a pay after delivery payment option
business (we sometimes act as a merchant of record). Hence, we
widely desired by German consumers, requires merchants to send
bundled the payment method offer of various leading payment
out a parcel without an underlying payment vehicle (such as a
service providers (PSPs) in order to maximise conversion globally.
credit card) that can be analysed and scored. Hence, merchants

need to take different data sources into consideration when
deciding to offer such payment methods to shoppers.
36
With customer-friendly checkout

processes, arvato easily increases
your conversion rate. And we ensure
a convenient purchasing experience
Jan Richard
Head of Payment Services
arvato Financial
Solutions
For open invoice, a consumers credit worthiness needs to be

assessed, something completely uncommon when it comes to card
About Jan Richard: Jan Richard is head of
fraud practices.
payment services at arvato Financial Solutions,

a Bertelsmann company. After graduating from
At arvato Financial Solutions, we provide exactly those tools to
Wichita State University (USA) he returned to
make the right choices. Many merchants trust us in making these
Germany to earn his MBA at WHU in cooperation
decisions for them and outsource the complete process to us,
with Kellogg (Northwestern University).
which is certainly a strategic merchant decision.
About arvato Financial Solutions: arvato

What are some innovative approaches to risk
Financial Solutions is a global and Europes third
management youve addressed?
largest integrated financial service provider and
We asked ourselves the following question: What does the
part of Bertelsmann. The company has around
merchant want when it comes to risk management? And the
7,000 employees in 22 countries, including a
answer was easy: No risk! We are convinced that any merchant
strong presence in Europe, America and Asia,
would agree as long as conversion rates are in check. Thus, we
and offers flexible full-service solutions for
have invested in creating a solution that does not just cater for
the value-oriented management of customer
local payment acceptance, but also outsources all risk to us. We
relationships and cash flows.
aim to secure all payments for our clients - from local APMs such
as open invoice to international credit cards, by actually purchasing
finance.arvato.com
receivables combined with a completely transparent pricing model.
How do you foresee the payments landscape evolving

and how will this affect the way merchants accept
payments in the future?
Disruptive technologies such as cryptocurrencies will probably play
a role. With more certainty, I believe that consolidation will continue
in this industry. At the end, supply will be triggered by consumers
and merchants yearns. The desire for more convenience in every
transaction will shape the future payment landscape.
37
ONPEX
Planet of the APIs - Making Banking and Payments Programmable
ONPEX stands for The Online Payment Exchange. Christoph
The test environment should be usable, stable and performant
Tutsch, Founder and CEO of ONPEX, explains: At ONPEX we
and therefore should provide no big hurdles for developers to
have built a platform that enables access to and interactivity
overcome.
with many payment methods and payment-related products.

Everything available on our platform is seamlessly integrated
API integration needs a teacher or support team who can fully
and accessible, configurable and controllable via APIs.
provide working examples with context and fully supporting the
Our focus is to keep these APIs as simple as possible.
process from the beginning to the end. In payment terms it would
Our customers can easily integrate our APIs into their shops,
be the complete workflow from procurement to receive funds
gateways or own software development projects.
physically.
Understanding the planet of the APIs
2. High performance
As the title indicates, APIs can seem something alien. But, it is vital
Once the rules of the language are understood, and you are able
that they are understood because banking and software developers
to test some communication, the next step is the speed of the
are increasingly looking to simplify the integration of application
communication. For APIs, this means that there needs to be
programming interfaces (APIs). With multiple choices, it is important
a low latency and execution time. Time equals money and, if
that payments providers, merchants and banks comprehend what
transactions are too slow, then either the API is not doing its job
makes up a good API and choose the right APIs to work with.
properly or it is not being used properly.
How APIs work is actually straightforward. Comprising a set of
3. Error handling and fail safety
tools, protocols and routines, well-designed APIs should give
Developers need to create defined errors per method so that a clear
software developers the building blocks they need to create
outcome of each scenario can be made. By creating notification
software. The main aspects of a good API can be broken down into
for cases in which something goes wrong, it will offer a secure and
five categories: easy to integrate, high performance, error handing
error free setting.
and fail safety, security and design.
4. Security
1. Easy to integrate
Security should not be an afterthought; it should be at the heart of
An API can be treated like a foreign language that allows
every transactional process. So, the new language has rules about
communication and connectivity. For that reason, they should be
authentication, authorisation and encryption:
easy to integrate into existing systems. There needs to be clear
- Authentication is the start of this process. Protocols must be in
documentation on use scenarios, use cases and flows to allow

understanding of how it works. Worse than a missing documentation
is wrong and misleading documentation.
place where only authorised users can access the systems.

- A uthorisation handling is the second part: once the system
knows who you are, it will also know what you are allowed to do.
- Encryption and Signatures will prevent data manipulation.
It is also important to understand that even though we are

communicating in the same language, there might be different
5. Design
dialects spoken within it. Therefore, an API should have clients for
Getting the design right is critical, so make sure these five
different technology stacks so it can communicate through all the
requirements are ticked off.
different computer languages. In order to improve progress and test

the language, a sandbox environment needs to be provided.
38
Christoph Tutsch
Founder and CEO
ONPEX
Simplicity: Keep the design and requirements simple so that any

developer can follow the steps easily.
Standards: Use the same behaviour in every method. Keep the
About the author: Christoph Tutsch, founder
base data structure simple.
and CEO of ONPEX, started the company
Rules: Make sure that you have defined clear rules and follow them
with the vision to revolutionise the payments
consistently.
industry by providing simplicity, transparency
Language: Stick to the defined interface language in order to avoid
and automation. He is responsible for the overall
confusion.
direction of the business and its continuing
Documentation: Explain what the interface is and how it works and
global growth.
communicate any changes.
About ONPEX: ONPEX is an award-winning,

The rewards of getting it right vs. the cost of getting
white-label payment platform supporting
it wrong
omni-channel, local and cross-border card
At ONPEX, we use APIs in three distinct ways:
processing, alternative payment methods
1) We connect to third-party APIs
and payment related solutions. ONPEX helps
2) We provide external APIs to our partners, banks and merchants
customers to accelerate international expansion
3) We provide internal APIs for custom third party plug-ins and
and offers them the flexibility to grow globally.
connectors
For more about ONPEX, contact: connect@

How we use them is indicative of how they should be used in our
onpex.com.
industry. We create our own ones and share them with clients and,
in turn, we connect to other APIs used by third-parties. How we
www.onpex.com
use them has helped our business grow and thrive. We work by
connecting with partners and, in order to do this, we need to ensure
that our systems speak the same language as partner systems. This
ability to communicate without interruption or confusion is vital in
payments. Errors and downtime do not just cost money, they cost
reputation.
* A t ONPEX we are also aware that, sometimes, not everything
goes perfectly or as planned, but we are doing our best and
there is always room for improvement.
APIs have a critical role in facilitating this communication. Getting the
right one for your job is the difference between a seamless system
and a glowing reputation and downtime and a poor reputation.
So choose carefully, choose wisely and know what you want.
39
Worldline
Leverage Digitisation to Secure and Develop Your Payment Business
Digitisation, the business fertiliser for banks and
Stimulating your security improvement
merchants
We are witnessing an upsurge in fraud attempts in Europe, mainly
In an increasingly digitised world, with ever more performant network
due to the shift from the physical to the online world.
infrastructures, consumers equipped with smart devices are hyper

connected. Today, 28% of the world population is equipped with a
According to the ECB, 60% (Card Fraud Report, February 2014)
smartphone and it is expected to continue growing. Free from time and
of the total value of card fraud come from card-not-present
space constraints, people expect a homogeneous user experience,
payments. Besides, fraud has never stopped evolving along with
enabling them to interact with you at home or on-the-go and
technological advances, constantly challenging all the actors of the
creating new touchpoints. Implementing mobile applications or
ecosystem to secure their activity. It is moving from an organised
wallets improves interaction with your customers and allows you to
fraud to an automated and global fraud with a growing expertise
catch all the digital moments of their lives.
of fraudsters. The issue at stake here for merchants, as for banks,

is to find the right balance between anti-fraud measures and
Besides, the flourishing online business is another way of increasing
user experience. You need an efficient fraud risk management
your revenues. But, reaching a global audience entails dealing with
strategy based on big data intelligence and expertise. After KYC
locals needs in terms of payment means and consumer habits.
(Know Your Customers), we can now talk about KYF (Know Your
Partnering with payment service providers with local knowledge
Fraudsters). Learning engines, included in fraud prevention tools,
and connections is then the best time to market a way to reap the
deliver the most appropriate protection to quickly evolving fraud
benefits of this situation.
patterns. This prevention strategy can be reinforced by additional

solutions like trusted authentication, as strongly recommended
Digitisation also increases the data volumes of the ecosystem.
by regulators such as EBA or card schemes.
They allow you to better understand your customers behaviours

and preferences. As such, you can adapt your communication
Data breaches can also create major damages to your business.
and your loyalty programs to create a personalised customer
By being only threatened in their privacy, consumers lose trust
relationship to enhance customer satisfaction and increase
in the system and are more reluctant to share their personal and
your revenues.
payment data with you. When it actually occurs, your brand is

seriously crippled. The recovery is extremely difficult both in
terms of image and revenue losses. New ways of handling
payment are needed to decrease the spread of sensitive data.
For example, Online Banking ePayments (OBeP) keep the
data within the banks, or Mobile Host Card Emulation (HCE)
payments which only transmit tokens.
40
Stphanie Nogus
Head of Marketing
Worldline
And energising your attractiveness

Your business is also increasingly challenged by new and agile
competitors. Indeed, they leverage digitisation to offer disruptive
About Stphanie Nogus: Stphanie has
online banking or commerce services. Telco addressing unbanked
been Head of Marketing at Worldline since July
people, worldwide e-merchants offering their own payment means or
2013. Innovative and enthusiastic marketing
completely disruptive business models such as Uber are significant
expert, her main objective is to create,
examples.
communicate and deliver superior value to

Worldline customers. Previous to Worldline,
To fight competition, digitisation allows you to replace your
she was Innovation Manager at Atos and has
traditional services by more attractive ones and offer innovative
a track record of 12 years of brand marketing
services, such as Card Link Offers which leverage the value of
management in the CPG business. Stphanie is
your customer data and reinforce your client relationship.
a Graduate from ESCP Europe.

About Worldline: Worldline [Euronext: WLN]
is the European leader and a major global
player in the payments and transactional
services industry. Worldline contributes to
provide seamless and innovative transactional
experiences to the end users. Worldline
activities are organised around three axes:
Merchant Services & Terminals, Mobility &
e-Transactional Services, Financial Processing
& Software Licensing.
www.worldline.com
www.worldline.com/blog
www.worldline.com/linkedin
Whats next?
We are all moving in a great period, transforming the way people are
living or making business. And innovation is a permanently roaring
www.worldline.com/twitter
www.worldline.com/youtube
engine. Strongly grab this power! And leverage your partners

know-how and innovations to test new services in a quick and
efficient way. At Worldline, digital payments are our DNA and we are
excited to contribute to this adventure by leveraging these changes
to create and provide you with the best of our future.
41
Emerging Payments Association
Is an Uber of banking likely? New business models created by digital transformation. XS2A PSD2. Transformational
technologies. In this interview, Neira Jones delves into these topics and then some.
Digital transformation: is it disruptive? Which are the

enabling technologies of digital disruption that have
relevance in the industry?
It is undeniable that digital transformation has created new business
models:
In 2015, Uber, the worlds largest taxi company, owns no vehicles
Facebook, the worlds most popular media owner, creates no
content
Alibaba, the most valuable retailer, has no inventory
And Airbnb, the worlds largest accommodation provider, owns no
real estate.
How does Europe compare with the US in terms of

leveraging opportunities of digital age (transformation)?
Many commentators keep wondering who will be the Uber of
None of the top digital companies by market capitalisation
banking and no one provides the answer yet. There is a very good
originate in Europe and most are either located in the US or Asia.
reason for that: banks and financial services in general, are heavily
However, this is only one aspect of the landscape: whilst the US are
regulated. So, rather than calling digital transformation disruptive,
hailing real-time payments as a holy grail to be actively pursued, the
lets call it transformative. Most existing and established players
UK successfully deployed Faster Payments in 2008. Similarly, EMV
have digital transformation initiatives and are placing digital at the
was deployed in Europe decades ago and the US are struggling
core of their strategy to keep pace with consumer behaviours.
to meet their October 2015 deadline. It is however, undeniable
Still, new entrants, have to rely on banks to provide the underlying
that US investment in fintech is still way ahead of Europe, but the
infrastructure and services. Thus, new entrants are forcing existing
situation is changing: mobile payments are gaining wider adoption,
players to accelerate, with no legacy infrastructure, their digital
contactless technology has become mainstream and European
transformation pace and a few digital-only challenger banks are
investments are growing. With European political agendas set on
already established and some are emerging.
digital transformation, the situation can only improve.
The enabling technologies themselves will be driven by consumer
Which of the latest developments in payments are
adoption of different modes of interaction (mobile devices,
banks most likely to adopt?
wearables, IoT etc.) and different channels (websites, TV and other
No bank can afford to ignore that mobile developments and
media , YouTube, social media networks etc.). This in turn will
consumer preference are the main driver. Mobile banking, or
suggest building infrastructures with API connectivity, cloud-based
mobile financial services in general, is already mainstream in some
services (for elasticity and omnichannel), big data (for CRM and risk
markets and this is only set to grow. In markets where cash is still
management), and of course, security to ensure the integrity of the
predominant, we have already seen the success of M-Pesa and this
ecosystem (identity management, authentication technologies such
model will be replicated (e.g. Kenyas Equity Bank).
as biometrics, adaptive fraud monitoring etc.).

Money remittance via mobile seems to be a particular area of
interest (see PayPal and Xoom or MasterCard and Azimo ) and
mobile money transfers via social media are predicted to hit 13
42
Neira Jones
Many commentators keep wondering

who will be the Uber of banking and
no one provides the answer yet
Advisory Board Member

& Ambassador
Emerging Payments
Association
billion transactions in 2015 . In addition, payments through
About Neira Jones: The author advises
social media (with large players such as American Express and
organisations of all sizes on payments, cyber
others already offering services) has attracted a lot of investment,
risk, information security and digital innovation.
with Google, Facebook, Twitter and Pinterest all attempting
She also chairs the Advisory Board for mobile
to bridge the gap between desktop and mobile purchasing and
innovator Ensygnia and is listed on the City AM
offering Buy buttons.
FinTech Most Influential Power List.
Do you believe that XS2A PSD2 is accelerating the
About Emerging Payments Association:
trend of digital transformation in banking or is it just
The Emerging Payments Association brings
another regulation?
together companies across the emerging
The short answer is yes, I believe PSD2 will accelerate digital
payments spectrum to help shape the future
transformation. But only time will tell as the devil is in the detail
of the payments industry landscape. Our vision
and some areas of PSD2 remain unclear, particularly for access
is to make the UK a global leader in payments
and liability.
innovation by attracting investment capital and

creating a hospitable regulatory environment for
What will be the most 'transformational' technologies

impacting digital payments in the next 5 years?
Over the next 5 years, the following technologies will impact the
innovators, new entrants and disruptors.

www.emergingpaymentsassociation.com
digital payments landscape:

Biometrics;
More mobile, leading perhaps to more wearables. After all, even
in the UK where plastic card usage is very high, 49% of payments
are still conducted using cash. Plenty of scope still for cash
displacement worldwide;
B ehavioural analytics and big data to deliver the transparent
payments experience that consumers expect, whilst controlling
fraud rates;
API-driven services to enrich the consumer experience, wherever
the point of interaction might be, such as the recent announcement
by British Airways opening up their APIs for flight information and
bookings to encourage developers to create value-added travel
applications;
Distributed ledgers (e.g. blockchain). Indeed, many large players
such as BNP Paribas, Deutsche Bank, Citi and Barclays, to name
but a few, are already exploring its possibilities.
Read the first part of this interview here.
43
Edgar, Dunn & Company (EDC)

The Lego-isation of the Financial Services Industry
Are you an AFOL? An AFOL is an Adult Fan Of Lego. Most
For the last 30 to 40 years, data has been growing and its value
people have heard of Lego. It is a toy for all ages, consisting of
has increased proportionately. However, data is usually shared
colourful interlocking plastic blocks that can be assembled and
within the same organisation by using internal Application
connected in many ways to construct various objects like vehicles,
Program Interfaces (APIs) between applications. These are closed
buildings, and even working robots. Practically anything that can be
APIs. Silos of consumer data in different organisations have
constructed can then be taken apart again, and the pieces used to
limited value, compared to sharing consumer data across different
make other objects. The real beauty of Lego is that bricks sold in
organisations. An open API will allow different organisations to
1975, around the time when I was buying them, can still be fitted
share data across businesses. You may have found yourself
with Lego bricks sold in 2015. The reason for this interoperability
wanting to register on a website using your Facebook or LinkedIn
or compatibility is that each Lego piece is manufactured to an
credentials; this is in fact a great example of an open API called
exacting degree of precision. This is effectively the Lego standard.
an OAuth, an open standard for authorisation which provides
The financial services industry and, in particular, the payments
applications a 'secure delegated access' to resources on behalf
industry, have not had the same view when it comes to standards.
of a resource owner. It specifies a process for resource owners
Interoperability, openness of systems and data in the payments
to authorise third-party access to their resources without sharing
and financial services industries, has been marked by a long
their private credentials. It is one example of a rapidly growing
history of various shifts and changes.
number of open APIs that are becoming a de facto standard and

are already in wide use by companies using Web 2.0 techniques.
Over the last century, the banking sector has controlled their own
Facebook has been using open APIs since 2007.
rules of the game and, for example, LIBOR (London Interbank

Offered Rate), which sets a benchmark rate that the worlds leading
There has been a rapid growth of open APIs since 2010, when
banks charge each other for short-term loans, was based on the
there were only approximately 2,000 while now there are over
traditional, "gentleman's agreement" approach. It serves as a
13,500 available from various organisations, including Apple,
benchmark for interest rates of loans globally and it has never had
Amazon, Microsoft, Google, Visa, MasterCard, Twitter, Facebook
any formal control rules or standards.
and PayPal just to name a few of the leading players in publishing

their APIs and making them available to third parties. The best and
To avoid any recurrence of the recent multi-billion LIBOR and Forex
most widely understood example is Apple. They have made their
scandals, the UKs Financial Conduct Authority is expected to
hardware, i.e. their iPhones and computers, accessible (open) via
announce significant steps in 2015 to ensure adoption of formal
standard APIs by thousands of software developers who create
standards. As with the LIBOR example, the Payment Services
products and services that make Apple products more valuable.
Directive (in its current draft form of the PSD2) is the starting
gun for a dramatic change in the payments industry. Notable
implications are expected for the financial services area and the
payments industry once standardisation of payment processing
takes place and non-bank institutions (the more innovative third
party providers) gain access to data that banks keep for their
customers.
44
Mark Beresford
Director
Edgar, Dunn & Company

(EDC)
The financial services industry is just starting to wake up to open
APIs. The PSD2, with the help of the European Banking Authority
(EBA), is expected to set the standards for the banking industry
About Mark Beresford: Mark Beresford is a
to allow Payment Initiation Service Providers (PISPs) and Account
Director at Edgar, Dunn & Company (EDC) and
Information Service Providers (AISPs) to gain access to data held
has over 20 years of experience in the payments
within the banks. Crdit Agricole, BBVA, Fidor, Banco Sabadel,
sector. He works on strategic client engagements
ING, BNP Paribas and Garanti are experimenting with open APIs
including major multi-channel retailers and
by either opening up specific segments of consumer data, hosting
payment service providers across the globe.
their own App Stores, or facilitating hackathons for API software
About Edgar, Dunn & Company (EDC): Edgar,
developers to innovate. It is only the tip of the iceberg.
Dunn & Company (EDC) is an independent

In the future, we will see the API-sation of the banks, which will
global financial services and payments
effectively turn a closed shop or closed game into an open game that
consultancy. Founded in 1978, the firm is
can be played on a level playing field with greater standardisation
widely recognised as the world's preeminent
this is what I call Lego-isation of the financial services industry. Like
expert in the payments industry. EDC assists
Lego, there will be a standard set of building blocks that banks and
organisations in developing and implementing
third party providers will use to work together, to offers consumers
strategies and capitalising on the opportunities
greater choice and enhanced next generation products and services.
that change provides within financial services.
By 2025, we will see more from the financial services and payments
www.edgardunn.com
sectors as a result of Lego-isation and open APIs. This is an exciting

time for open banking and the enriched usage of consumer data.
The future winners in Lego-isation are unlikely to be traditional
banks; technology disruptors and challenger banks with an open
mind to open data, innovators that are unhindered with legacy
systems are expected to be the new service providers to the
millennial generation of consumers.
45
Innopay
PSD2 Access to Account (XS2A): Shaking Up the Value Chain
In this article we would like to share four basic strategic options
These two fundamental choices result in four strategic options for
for banks to act upon PSD2 and provide you some key insights
banks as depicted in the figure below. Note that these options are
we gained from analyzing these strategic options.
not mutually exclusive, as banks could evolve from one scenario

to the other based on the choices made regarding positioning and
PSD2 XS2A is not just another regulation requiring only an
product portfolio.
operational and compliancy approach. It can be considered an

accelerator for technology driven innovation in the payments
industry. It is disrupting the complete banking sector as we know
it today.
New innovative players are acting on this opportunity as well
and threaten to capture revenues long taken for granted by the
banks. These flexible and innovative service providers target
not only the payments value chain, but every single piece of
the universal banking model. Banks on the other hand hold the
asset: the balance and account information. With PSD2 XS2A
they can potentially create leverage on their investments in KYC
and AML and use these as a driver to modernize their business
and operating models while making their infrastructure more agile.
Figure 1: Four generic strategic options for banks resulting from

PSD2 XS2A
From a bank's perspective the question becomes: What are the

strategic options I have? And what are the implications when
Option 1: Mitigate
choosing one of these options?
Minimal action required by banks is in the Mitigate option. The bank

focuses on PSD2 compliance and opens up through APIs to the
From our work in the past two years with the European Banking
most limited extent possible to enable TPPs to execute payment
Association (EBA), Open Transaction Alliance (OTA), various banks
initiation and account information services.
and payment providers on the topic of PSD2 XS2A, we found that

banks face two key strategic choices:
Option 2: Compete
1. What should my positioning be in the payments value chain?
The Compete option is similar to the Mitigate option (i.e. ensure
Banks either focus solely on providing account access and letting
PSD2 compliance). However, banks add an offensive strategy by
other Trusted Third Parties (TTPs) compete for the consumer
also offering innovative (basic) payment initiation and information
or develop new applications on top of their infrastructure and
services.
compete for customer relevance in the Trusted Third Party (TTP)

arena themselves
2. What should the breadth of my transaction services portfolio
The Expand option is also similar to the Mitigate option (i.e. ensure
be? Banks either offer a limited, basic portfolio of payment and
PSD2 compliance). However, banks now focus on developing and
information services (through APIs) or extend to also cater for
exposing services (through APIs) that go beyond basic payment
other types of transactions beyond payments, e.g. advanced
and account information services.
payment and information services, digital identity services and

lending
46
Option 3: Expand
Mounaim Cortet
Strategy Consultant
Innopay
Option 4: Transform
The Transform option combines all three other options: banks
focus on pursuing a bank as a platform strategy to enable third
Tom Rijks
parties to build applications and services around the financial
Digital Innovation and
institution. This must be based on open APIs. Banks become
Co-creation Lead
Innopay
complete digital players, competing and collaborating for customer

relevance in payment and information services.
Given the PSD2 and given the basic strategic options described
above we can conclude that:
About Mounaim Cortet: Mounaim is strategy
1. For banks PSD2 is about (re)positioning in the value chain.
consultant at Innopay, working on strategic,
Banks and TTPs need each other to make attractive applications
regulatory and innovation challenges in
and services for payers and payees contributing to top and
payments and digital identity.
bottom-line growth. Question is who will provide what.

2. APIs will fuel and accelerate digital transformation. A secure
About Tom Rijks: Tom Rijks is member of
and effective manner to connect TTPs to banks is required.
Innopay's Management Team leading the
In the past decade APIs have become the de facto paradigm
Payments Practice and responsible for Innopays
for sharing data, and have enabled organisations that hold large
Co-creation capability.
amounts of data to become platforms for third party innovation.

3. S tandardisation is required to avoid fragmentation and
About Innopay: Innopay is innovation expert
failure of the system Standardisation is essential to mitigate
in payments, digital identity and e-business.
the risks surrounding XS2A, such as market fragmentation
The company provides consultancy services
of innovative payment services for payers and payees,
that help corporates, collectives, governments
varied security standards, reduced trust and slow(er) market
and their service providers to shape their
growth. In a recently published opinion paper the European
strategy, co-create new service offerings and
Banking Association laid down its vision to avoid such market
transform their operating model.
fragmentation.
www.innopay.com
In summary, PSD2 XS2A is a serious disruptor of the business
as we know it today. While at executive level there are still many
strategic questions in need of an answer, banking leaders are
challenged on adequate and timely decision-making regarding the
banks' future strategic value chain position and product portfolio.
Next to a bank's individual strategy, collaboration with industry
peers, TPPs and other Fintech challengers is key to avoid the allimportant risk of market fragmentation that all two-sided markets
face. The future of banking starts today!
47
Payments Consulting Network

Technological Transformation in Digital Payments: What is Next?
With digital disruption set to unanchor as much as USD 27 billion
Managing digital identities
of the forecasted USD 1.3 trillion global payments market in 2015,
The fact that new entrants are totally reliant on existing card
the race is on to create a streamlined payments supply chain.
payment infrastructure puts them at a disadvantage. Traditional
With experts saying we have entered the next phase in electronic
players such as banks should be planning to take advantage of
payment ecosystem development, the challenge is to provide
their coveted position and look to manage and influence the digital
end to end integration of digital payments technology in a highly
footprint of their customers. Owning the core banking relationship
fragmented market, globally.
gives brick-and-mortar banks access to payment flows and an

opportunity to predict and model future behaviour.
2014 in fact marked the first time the volume of digital payment
types surpassed that of paper-based payment methods.
If Gartners recent 2014 Payments Hype cycle is anything to go
Expanding digital payment influence beyond its online presence
by a bank's siloed systems and operations, as well as product
and into the physical world is a key driver in digital payment
development approaches, then they are unfit to respond to new
transformation.
market requirements. However, it can be argued with a full and

open view of a customers visible payment flows: with the right
According to IntegraPay CEO Chris Urry, eliminating the consumers
analysis there is a window to identify new opportunities.
roles in the transaction is key to the prosperity of the digital payment

type. Solutions which rely heavily on the consumer acceptance
According to Gartner, this focus on managing customer digital
and prolonged participation are more likely to present long-term
identities will be key to deciding whether banks have a close
issues. Currently, the huge potential in the digital payments market
digital relationship with their customers or whether they risk
has emerged from social sharing websites trying to easily extract
becoming commodity providers of financial services, with access
payment from users. When you get the mix right, you have success.
to customers controlled and directed by third parties.
The complex evolution towards transformation starts
Integrating social platforms with digital payment
today
Many predictions see integration with social platforms as the key
The market for digital payments technology is highly fragmented,
to monetising digital payment assets. There is no denying that
with both new and established corporations competing to get
the pace of payment innovation is accelerating very fast in order
customers to use their digital payment systems.
to use and integrate digital payments offered to the market in

abundance.
Digital payments present a unique opportunity for experimentation

with joint ventures, as Duane Smith, Lead Associate at Payment
The digital payments discussion is of course ongoing, while
Consulting Network indicates. Experimentation using the assets
ultimately the key issues outlined here are significant now; they
of established payment partners and the free thinking of new
may not be in 6 months time. The explosive speed and constant
uninhibited players is where the magic happens.
entrance of innovation have meant the emergence of new products

which will continue to put pressure on the traditional bank model the first banking player`s advantage is quickly eroding.
48
Catherine Batch
Associate
Payment Consulting
Network
However, there is no denying of the fact that there is a growing
consumer appetite for faster payments and more often is
constantly expanding. The battle for ownership of the digital
About Catherine Batch: Catherine Batch has
payment experience will only be tamed by regulation - which does
over 10 years' experience in delivering solutions
not seem forthcoming by the banks that, ultimately, benefit from
for the payments industry. As former Asia Pacific
the ever increasing digital payment flow which is taking physical
Director of Product Marketing at Transaction
cash out of the equation.
Network Systems (now MasterCard), Catherine

specialises in the development and practical
While the journey is complex, with many players racing to get the
implementation of payments strategy.
mix right to build customer acceptance, the size of the market is

growing. Backed by a strong customer appetite for streamlined
About Payments Consulting Network:
solutions, the digital payments industry is destined for strong and
The Payments Consulting Network is an
consistent growth. When you get the mix right, you succeed. The
international team of experienced payments
USD 27 billion question is: how do you do it?
industry consultants. Our vision is to create

value for our clients throughout the engagement
- from strategy development to project execution
- by bringing together specialist payments
industry consultants at a price point well below
comparable payments consulting firms.
www.paymentsconsulting.com
49
time.lex
PSD2 - Can You Feel the Buzz?
By the time you read this, the plenary session of the European
As the security requirements under PSD2 are not expected to come
Parliament will have debated and voted on the Payment Services
into force until 2018, the EBA already issued its final Guidelines on
Directive 2 (PSD2) on 7th and 8th October, 2015. It is a good time
the security of internet payments (i.a. strong customer authentication),
for a short summary of the main aspects and what PSD2 means for
which have been applicable since 1 August 2015 and which will
banks and for the new entrants on the payment services market,
apply until the PSD2 requirements come into force.
often called the disruptive FinTech startups.

It is likely that (open) APIs will be used to enable access to the
Why PSD2?
customers account. The idea of using APIs is not new and already
PSD2 replaces the existing PSD. It wants to open up the payments
on the agenda in several EU Member States and developed in
industry to non-banks. It also aims at providing clarity about
e-banking projects (e.g. openbankproject.com).
some concepts, exceptions and exemptions that were interpreted

differently by the financial regulators in the EU Member States.
Liability
PSD2 also encourages innovation in mobile payments.
PSD2 also addresses liability issues involved in late or incorrect

payments and SEPA direct debits (SDD), also when multiple PSPs
Open access to customer data and account information
are involved. In principle, the liability is shared between the involved
services
PSPs.
This is, by far, the most controversial topic of PSD2. It essentially

implies a shift in our way of thinking about banking and payment
Reaction of banks and payment processors
services. It is not just about payments, but also about data
Three European payment processors for banks (Equens SE,
stewardship, the value of data and (yes again) Big Data, about
Nets and VocaLink in "White paper on CAPS for PSD2", August
identity management and trust. My bank becomes the secure
2015) have published a proposal on how to approach the X2SA.
steward of my customers payment data. To whom do I allow
They advocate a "Controlled Access to Payments related Services
access and for which purposes? PSD2 mandates banks to give
(CAPS)" and a creation of a pan-European interoperability model
access to their customers accounts to Third Party Payment
that will ultimately benefit all stakeholders, users, merchants,
service providers (TPPs) and to provide account information to
banks, PSPs, TPPs, regulators. This CAPS model aims at allowing
third party apps with its customers explicit consent.
its participants a pan-European access with a single integration,

thus avoiding market fragmentation. Instead of each TPP trying to
Technical standards and API
access accounts individually for each of the 7000 European banks,
The technical mechanism allowing access to the account is
a standardised interface is proposed that makes connectivity
yet to be finalised. Standardisation could help resolve security
simple for TPPs.
concerns and avoid fragmentation of the market. The European

Banking Authority will be mandated under the PSD2 to develop
The CAPS framework would be defined as a set of rules, in a
requirements that will harmonise regulatory practices to ensure
rule book, based on open and objective criteria (keep in mind
secure payment services across the EU. The EBA will submit
competition law issues).
these to the European Commission within 12 months of PSD2

entering into force.
50
Edwin Jacobs
FinTech lawyer
time.lex
Other research (titled "PSD2 and XS2A Regulation or opportunity?

Report on a survey by Finextra and FIS", May 2015) shows that
financial institutions worldwide consider security, data protection
About Edwin Jacobs: Edwin Jacobs is a
and privacy, reputation risk and liability as the main concerns.
FinTech lawyer at time.lex and lecturer at the

University of Leuven and Antwerp. Specialties:
Timing
business law in the information society,
The debate and voting in plenary session of the European Parliament
negotiation and legal management of ICT-
was scheduled for the 7th and 8th October, 2015. Publication in the
projects, outsourcing, intellectual property
Official Journal is somewhere in Q3, 2015, after which the Member
rights, electronic invoicing and archiving,
States will probably have approximately Q4 / 2017 or the beginning
copyright, trademarks, privacy/data protection,
of 2018 to transpose the directive into their national legal frameworks.
e-business, electronic contracting.
My Banking Dashboard: the good old banking vault
About time.lex: time.lex is a law firm specialised
revisited
in FinTech, information and technology law in the
It would not surprise me if, by that time, several banks already
broadest sense, including privacy protection,
acquire some promising FinTech startup(s) or develop innovative
data and information management, e-business,
payment services themselves, or are cooperating with Third Party
intellectual property, online media and
Payment service providers by offering e.g. a "banking dashboard"
telecommunications.
to their customers in which the customer can plug several third

party services into the platform of his good old trusted bank, who
www.timelex.eu
is the secured steward of the customers data.
51
THE PAYPERS - INSIGHTS IN PAYMENTS

The Paypers (www.thepaypers.com) is the leading independent source of news and analyses for professionals in the
global payment industry. Our products are created by payment professionals and cover all significant developments
in financial transactions, with a special focus on online payments, online banking, mobile payments, e-invoicing,
e-identity and SEPA. Our portfolio includes headlines, newsletters, company profiles, publications, events, jobs,
buyers guides and advertising via multiple media channels and social networks.
Insights in payments this is what the Paypers is all about. On the one hand readers
get deep insight into the payment industry and on the other hand for companies The Paypers
offers a great advertising portfolio. For example, with our DIMOCO hub we handle mobile
payment transactions in the Central- and Eastern European countries. That means that we
are a niche player and the Paypers is an ideal partner for us
Margit Anglmaier - Vice President Corporate Communications - DIMOCO
News and analysis
The Paypers offers a wide range of news and analysis products:
Real-time online news on our website, with breaking news on Twitter, Linkedin, Facebook and G+
Free daily headlines, covering the fast-paced developments in the global payment industry
News | Paypers, weekly overview of this weeks most important news into your mailbox.
RSS feeds for all news articles, selectable by category
Online database with a searchable news archive dating back 7 years.
Premium newsletters providing an overview of industry news and analysis
Analyses on current market developments and future opportunities
Research reports detailing developments in specific markets and industry niches
Annual payment topic guides with a global market overview of companies, services and products.
The Paypers readership
JUMPING ON
THE PAYMENTS
INNOVATION
BANDWAGON
ACI Worldwide
How to Eat the Elephant of Payments Innovation
If the best way to tackle a challenge is one bite at a time, why are
So how can you be the first bank on the block to offer enhanced
so many merchants and banks sitting down to an all-you-can-eat
mobile banking features and loyalty offers that sway Millennials your
buffet and doing so alone?
way? How can you charge out of the gate with a cool couponing
app or relevant loyalty reward? How can you enter a new market
A quick survey of the payments landscape reveals that competition
(geography) to successfully grow your business? How might you be
and customer demand are pressuring commerce players to come
the next Dominos to enable customers to pre-order with next to no
to the table with innovative ways to purchase and pay for goods
effort? You may not have all the resources you need in house to buy
and services. Retailers and financial institutions cant afford a wait
or build the solution. Or, you may have the resources but lack the
and see approach - or they will simply have waited to see their
experience or ability to move fast. In either scenario, leveraging the
customers choosing other brands and banks that are able to offer
resources of one or more vendor partners may be the best choice.
the convenience and coolness they crave for.
To build or to buy? That is the question

If you need to eat the elephant of payments innovation, to transform
Answering it is not a sideline activity. While you are determining your
your purchase and payment experience, the best way to do it is not
game plan, you want to assess all your options, including how a
one bite at a time. It is with a friend or two or three.
partner can help. Think about the vendors with whom you currently
partner. Ask yourself:
Partners can accelerate your process

Dominos made a decision a while ago to change the way people
Who has the mobile capabilities I need?
order pizza. Technology had made available the ability to place an
Who can point me in the right direction?
order online and track the progress of that order in real time. Today,
Who can give me case studies of peers using secure, enhanced
Dominos continues to push the boundary with a robust mobile

app that takes payment out of the ordering process and puts the
Who has customers doing what I want to do?
emphasis on the purchase experience. Now you can tap your
W ho can provide intelligence and insight to neighbouring or
smartwatch during halftime, order and pay for your pizza and be
alerted when it is ready and eat. Or even text an emoji to them to
place an order!
Gaining an edge in todays crowded marketplace comes in part
by tapping into consumer demand for new, convenient payment
methods. They know what you do that Millennials do not write
cheques, that when they dine out with friends and it is time to pay
the tab, they would welcome the opportunity to pay their portion via
their smartphones, without ever having to visit an ATM or pull a card
out of their wallet.
54
payment options?
foreign markets?
Michael Grillo
Director, Marketing Line
Leader
ACI Worldwide
Then, have a conversation with those vendors. See who can help
you and how. As you are doing that, you should add one more critical
question to your list what are your partners or potential partners
About Michael Grillo: Michael Grillo is Director,
long-term goals and do they align with yours? It is important to
Marketing Line Leader for global electronic
understand your partners roadmap and strategy, to ensure it aligns
payments and banking leader ACI Worldwide.
with your best interests and those of your customers.
He has extensive experience in marketing

merchant payments and fraud management
Do not realize too late that your partner cannot offer the innovation
solutions.
you need to bring to market. Conversely, do not be afraid to talk

to others in the industry that you are not currently working with. As
About ACI Worldwide: ACI Worldwide, the
you are allocating next years budget and deciding what initiatives
Universal Payments company, powers and
will best enable you to deliver the experience your customers
protects electronic payments and banking for
want, look to the current and potential partner ecosystem and see
more than 5,600 financial institutions, retailers,
how you can leverage what they are doing to be more competitive,
billers and processors around the world. ACI
right now.
software processes USD 13 trillion each day in

payments and securities transactions for more
So go ahead. Eat the elephant. Just do not eat it alone.
than 300 leading global retailers, and 18 of the

top 20 banks worldwide.
www.aciworldwide.com
55
FleishmanHillard Brussels
A EU Digital Single Market: Can Europe Revolutionise Payments?
In a recent publication, The Economist cited a Silicon Valley based
payment services providers, as the success of new payment
entrepreneur who compared the 21st century Silicon Valley to
technologies is very much determined by the network effects of
Florence during the European Renaissance. Rightly so, Silicon
acceptance amongst merchants.
Valley has not only become the symbol, but the unchallenged
Over the past decade, EU policy makers have made very
capital of one of the most profound periods of innovation the
commendable efforts to stimulate an EU wide payment services
world has ever seen. In contrast, Europe boasts pockets of
market which interlinks financial services integration with
innovation in admirable but far more modest proportions. As their
technology. From a financial perspective, we have argued [ in a
names suggests, Londons Silicon Roundabout or Berlins Silicon
blogpost ] last year that the successful implementation of
Allee, are not more than smaller spin-offs that are modelled after
the Single Euro Payments Area (SEPA) system is one of the
the structures set up by the renaissance men and women of the
most successful spin-offs of the Euro project. Through SEPA,
Valley. Despite recent encouraging news over rising amounts
the EU harmonised the rules on direct debit transactions, credit
of capital flowing to promising European startups, and more
transfer and card Euro denominated payments, and this system
hyped success stories, this all remains anecdotal. Fueled by an
can become key in enabling new technologies to flourish across
inexhaustible Schumpeterian drive to destroy the 20th centurys
the single market for example direct debit transactions through
economic paradigms, it is clear that the economy is being
mobile technology. Likewise, the recently agreed revision of the
transformed from the Bay Area.
EUs Payment Services Directive sets out to break open the

markets for payments. Perhaps most importantly for the market
This glaring American supremacy particularly in consumer
for payments going forward, these new rules force established
technology has not gone unnoticed in Brussels EU bubble
players to give new technology providers access to payments
either. Taking on its new credo of jobs & growth, the European
infrastructure.
Commission is on a mission to create the right kind of circumstances

to see the next PayPal emerging in Paris, Warsaw or Madrid in a
Andrus Ansip and Gnther Oettinger, the Estonian-German tandem
strategy christened the European Digital Single Market.
leading on the digital single market project, should take note of how
Much has been written about the impact of Europes culture of
these reforms will transform the market for payments in Europe.
risk aversion versus the American impatience, reminiscing the
Though all-in-all positive, lessons can be learned too. For example,
frontier mentality of the early settlers. Cultural preferences are
new security requirements for payment transactions are critisised
hard to change though; hence European efforts aim to break
for being insufficiently technology neutral, and risk becoming
down the main barriers regulatory barriers that have prevented
obsolete even before they are enforced.
European businesses to lead in innovation. This response is a
Because of these large leaps forward over the past years,
classic European attempt to break down cross-border barriers
inefficiencies in the payments system is no longer seen as a
and coincides with Commissioner Vestagers push to break the
major barrier to the development of a Digital Single Market
perceived misuse of market dominance by some of the American
in Europe. Instead, the main focus is on other barriers such as
tech champions through competition rules.
complex VAT and contract rules, geo-blocking and outdated
This pitchfork of policy-development and rule enforcement
copyright law on which the European Commission plans to
will be the space to watch in the years to come.
propose legislative action shortly. Throughout 2016, the treats

and opportunities of the data and network economies will
The European Commissions reasoning is as simple and it is
likely become central in policy discussions. The fact there is no
compelling: economies of scale result in the network effects
clear-cut view on the nature of a platform in EU policy circles yet
that have made the new generation of innovators so successful.
illustrates the challenge ahead.
This logic also applies to FinTech companies and in particular to
56
Martin Bresson
Senior Policy Advisor
FleishmanHillard
Brussels
Timeline of policy initiatives
CURRENTLY NEGOTIATED REGULATION
The Network Information Security

directive (expected end 2015)
Q4
The General Data Protection Regulation

(expected end 2015)
Q4
Marijn Swinters
2015
Senior Account Executive

FleishmanHillard
Brussels
in 2016
Q1 2016
1st half of
2016
before end 2015
PROPOSAL TO REVIEW EXISTING REGULATION
EU rules for online purchases of digital

content
Legislative proposal for a copyright
reform
Comprehensive assessment of
the role of online platforms and of
intermediaries
Measures to improve price

transparency and enhance regulatory
oversight of parcel delivery
Legislative proposal to end unjustified
geo-blocking
Review of the ePrivacy Directive (Q1

2016 - right after the adoption of the
GDPR)
Reducing the administrative burden

arising from different VAT regimes (In
2016 - no specification)
Ambitious overhaul of the telecoms
regulatory framework (In 2016 - no
specification)
Commission will present a new
e-Government Action Plan 2016-2020
(In 2016 - no specification)
2016
About Martin Bresson: Martin Bresson is Senior

Policy Advisor to FleishmanHillard Brussels.
Martin specialises in policy and regulatory issues
impacting the financial sector.
About Marijn Swinters: Marijn Swinters
advises financial and technology sector
companies on EU policy and regulation. He
specialises in payments services and banking.
About FleishmanHillard: FleishmanHillard
(FH), a global leading public relations and
This means that the EUs work in the payments market is not
communication company, operates throughout
finished. Significantly, the question of data, its aggregation,
the Americas, Europe, Asia, Australia and
its protection and it being a source of both businesses and
South Africa. In Brussels, FH focusses on EU
costumer solutions requires thorough political guidance to
government relations. It provides strategic
determine how the EU copes with the data revolution. Also,
consulting services to companies affected by
the platform economy brings about a new set of question
EU legislation across different sectors, including
around payment services as built-in ancillary services and
leading financial services and technology
even whether some payment services can be considered to be
companies.
platforms and therefore regulated as such.
www.fleishmanhillard.eu
Innovative payments providers, be it startups or innovative
incumbents, can help policy-makers create an environment where
the EUs FinTech sector can flourish. Although the European
Commission has initiated this ambitious project, it will be the EUs
Member States and the European Parliament that will help steer
the project forward. Much needs to be done for Europe to reclaim
its position as a leading center for innovation, but the payments
industry is well positioned to lead the change.
57
Visa Europe Collab
The demand for new payment methods from consumers is a key driver for innovation
What is making the payments industry so attractive for
What drives innovation and creativity in this industry?
innovative ideas and entrepreneurial spirit right now?
The demand for new payment methods from consumers is a key
Technological advances, driven chiefly by advances in mobile
driver for innovation. Consumers want simpler ways to pay and a
computing, along with sociological change, are resetting consumer
removal of friction. They also want a variety of options to choose
expectations when it comes to payments. This, combined with
from, which can be seen in the increasing appetite for methods
significant investment in the fintech sector, is creating real positive
such as contactless and Apple Pay. Merchants are also looking at
momentum.
new ways to satisfy their customers and differentiate themselves,

which is helping drive change.
In the cities across Europe, where Visa Europe Collab has a presence
London, Tel Aviv, Berlin there is an ecosystem of investors,
What are some recent examples of innovation that you
accelerators and innovation hubs like ours who are providing the
have seen come through the Visa Europe Collab doors?
support to help entrepreneurs develop their ideas. It is a time of
Since we set up Visa Europe Collab in the spring of 2015, we have
significant opportunity for new entrants and ultimately the consumer
been lucky enough to meet hundreds of innovative companies and
will benefit.
entrepreneurs and explore scores of ideas.
What impact does the proliferation of startups

and entrepreneurs have on the fintech sectors
development?
The startup scene has a huge significance in both impact and
attitudes to innovation. Visa Europe Collab was set up to find the
most promising ideas within the wider payments ecosystem and to
help their creators turn them into commercial reality.
We believe that collaboration is key. By combining the expertise,
scale and network of partners of established players, like Visa,
with fresh ideas from entrepreneurs, we can transform fintech to
the benefit of the consumer.
By combining the scale and network of

partners of established players, with fresh ideas
from entrepreneurs, we can transform fintech to
the benefit of the consumer
58
Its a time for significant opportunity

for new entrants and ultimately the
consumer will benefit
Niamh de Niese
Director of Innovation
Delivery
Visa Europe Collab
A recent example of one of the ideas we took through to proof of

concept stage is a partnership with UK designer Henry Holland.
About Niamh de Niese: Niamh de Niese is
In a worlds first, we created a shoppable catwalk - combining
Director of Innovation Delivery at international
fashion and frictionless payments at Henrys show at London
innovation hub Visa Europe Collab. Niamh is
Fashion Week. Over a 100-day period, we worked with Henry
accountable for the end-to-end delivery of Visa
Holland, and partners including NFC Ring and Flomio, to design
Europe Collabs innovation pipeline.
a range of rings featuring NFC technology that would allow VIP

guests to make a purchase directly from Henrys collection as it
About Visa Europe Collab: Operating out of
was being modelled on the catwalk.
London, Tel Aviv and Berlin, Visa Europe Collab

brings together an international community of
The pieces from the House of Holland collection incorporated a
partners to identify payments ideas and help
payment receiver tag linked via Bluetooth Smart technology to a
develop them into commercial reality. Then,
virtualised terminal and the power of Visas payment network. This
through Visa Europe, we will help them roll out
technology offered the VIPs a unique opportunity to interact with
their services to our network of banks, retailers
the show in a way that has never been seen before.
and consumers across Europe.
We are now exploring how these learnings can be extrapolated
www.visaeuropecollab.com
into the broader retail payment experience.
What predictions do you have for the fintech industry

for a year from now?
This industry moves so quickly that it is difficult to say with any
real certainty. At Visa Europe Collab, we work on projects that are
evolutionary and revolutionary in scope from evolving existing
payments methods to exploring broader technological and social
shifts, from biometrics to distributed ledger technology.
It is a hugely exciting time for the sector and we will see significant
change over the next few years. What we also know is that the
products and paradigms that will succeed will be those grounded
in solving real problems and rooted in delivering consumer value.
59
World Economic Forum

Five Predictions For The Future Of Payments
Over the past five years the payments sector has undergone some
These alternatives will allow customers to link directly to their
exciting changes that are reshaping financial services. On one
bank accounts; they will also provide the built-in offer and loyalty
side, innovative mobile payment solutions and new m-commerce
programmes that merchants need to reach target customers.
apps are transforming the customer payment experience; on the
At the same time, new point-of-sale lending solutions will allow
back-end, new payment rails and the rise of digital currencies are
merchants to offer lower cost loans to customers buying on credit,
rewiring the payments landscape.
replacing high-interest credit cards.
Over the past year and a half, the World Economic Forum and
If these innovations appeal to customers, they will erode credit
Deloitte have co-led a research project involving over 100 experts
card volumes, directly threatening business models that today are
and industry executives. The aim has been to better understand
built on account balances and loyalty programmes. That would
the disruptive potential of emerging innovations, including those
create longer term implications for retail banks, for whom the card
related to payments. Based on that research, here are five bold
business is a key part of their customer relationships.
predictions for the future of payments:
3. No more excessive transaction fees

1. A winner takes it all environment
Todays mobile payment solutions offer customers a secure,
M-commerce apps like Uber and Amazon promise their users
virtual way to pay for things. Such systems increasingly call into
a frictionless experience, and part of fulfilling that promise
question the notion that these transactions are at higher risk of
increasingly involves pushing the act of payment to the back of
fraud and should bear higher merchant fees to cover that risk.
the customers mind. While these apps allow customers to change
At the same time, many popular mobile commerce apps like
payment methods on the fly, most use their default card for each
Uber, and mobile point-of-sale solutions like Square, are acting
transaction.
as mega merchants, aggregating transactions from participating

merchants and providing volume-based discounts on transaction
By solidifying their position as a customers default choice, card
fees. Combined, these two pressures will likely drive down revenue
issuers will enjoy higher transaction volume and gain a more
from interchange fees.
comprehensive view of customer spending patterns. When

combined with investments in analytics and innovative loyalty
4. Digital currencies will not replace traditional ones
programmes, this data can be used to further increase customer
yet
stickiness.
Digital currencies, most notably Bitcoin, could be great for

businesses: they have a low transaction fee, the funds settle fast
2. The death of the credit card?
sometimes even within minutes and they offer a single global
The past 50 years have seen the progressive displacement of
standard. But they will only take off if customers also see value in
cash payments by credit cards, and analyses of mobile payment
using them, and so far that hasnt been the case. There are a few
usage patterns suggest this will continue over the short term, as
reasons for that.
small ticket-size transactions are increasingly paid for with credit.
60
Over the longer term, however, we could see a reversal of this
First, customers need an economic incentive to use these digital
trend, as the mobile payments sector starts to offer an increasing
currencies, but up until now the cost saving has mainly been for
number of innovative alternatives to credit cards.
merchants.
R. Jesse McWaters
Project Lead, Disruptive
Innovation in Financial
Services
World Economic Forum

Second, the value of digital currencies can be volatile, which
exposes customers to exchange rate risks; as a result, many
people hesitate to keep their money in those digital currencies.
Hwan Kim
Finally, a range of issues, including negative press , point-of-
Manager
Monitor Deloitte
sale and wallet systems with unwieldy user experiences, and

a relatively small number of digital currency gateways make a
customers first foray into the realm of digital currencies a high
hurdle to clear. All of these challenges are clearly solvable, but
they do present a significant challenge to the adoption of digital
currencies by retail customers, at least in the short term.
About R. Jesse McWaters: The author

leads the World Economic Forums disruptive
5. Decentralised digital currency systems will modernise
innovation work on financial services which
financial services
seeks to understand how new technologies
Most digital currencies have decentralised systems that use
and innovative new entrants are changing the
cryptographic protocols and consensus-based validation to move
competitive dynamics of the industry.
a token of value (the digital currency) within a distributed ledger.

What is really interesting about these systems is that they could
About Hwan Kim: The author is a Manager
be used for so much more that simple retail payments.
at Monitor Deloitte with expertise in helping

various FSI clients develop growth-oriented
These systems can be used to create an immutable record of
strategies, including corporate, channel,
transactions that does not rely on a trusted third-party and can
product and customer strategies. Hwan was
offer both improved efficiency and traceability in the clearing
the Lead Consultant on the World Economic
and settling of transactions. That could have implications for
Forums research on Disruptive Innovation in
international remittances, treasury management and the clearing
Financial Services.
and settlement of securities. Organisations from Visa and
SWIFT to NASDAQ and UBS have already begun exploring
About World Economic Forum: The World
these potential applications, which could be a first step in the
Economic Forum is an international institution
modernisation of how financial institutions interact with one
committed to improving the state of the world
another.
through public-private cooperation in the spirit

of global citizenship. It engages with business,
political, academic and other leaders of society
to shape global, regional and industry agendas.
www.weforum.org
61
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 three 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.
ONLINE PAYMENTS:
An all-in-one reference guide
on (online) payments
& ecommerce industry trends,
evolving business models, top
players and relevant (alternative)
payment methods.
B2B PAYMENTS, SCF
WEB FRAUD PREVENTION,
Industry voices from the online
IDENTITY:
& E-INVOICING:
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into the dynamic B2B payment,
e-invoicing, supply chain finance
industries to support innovative
solutions & thriving businesses.
ONLINE SECURITY & DIGITAL

In-depth source of information
highlighting key facts &
trends into the global digital
identity transactional and web
fraud prevention & detection
ecosystem.
For the latest edition, please check the Reports section
PAYMENT
METHODS
DIVERSITY SPEARHEADING
GROWTH
Ecommerce Europe
Global Payment Methods: Towards a True Seamless Shopping Experience
An efficient and well-functioning payment landscape that creates a
Conversion is, among other factors, strongly influenced by the
cross-border level playing field is key to a flourishing ecommerce
usability of a payment method, or the familiarity of the user
industry in Europe. The e-payments sector is subjected to rapid
experience and the technical reliability of the payment method.
developments and the future ecommerce market is fully consumer-
Finally, Fair Cost affects the profitability of each transaction. The
oriented. It demands a seamless shopping experience for
cost of payments, including cost incurred from fraudulent payments
consumers to do online purchases wherever and whenever they
and exception handling, is among the retailers most prominent
want. A substantial part of the double-digit growth of the sector
concerns, but only after both reach and conversion are satisfied.
comes from innovation in payments, and especially innovation in

alternative and mobile payments. Mobile devices interoperability
E-banking: the importance of online banking
should be mainstreamed in all e-payments, but this should, in
e-payment for cross-border commerce in Europe
essence, be left to the market. The ecommerce industry has proven
Globally, it is very difficult to identify the perfect payment blend.
to be keen on innovating, which should be stimulated by regulation
Different cultures require different payment preferences. But,
that facilitates and does not restrict.
for sure, the merchant should have the option to offer the latest
innovation. And, if payment institutions dont catch up with
Alternative payments: offer the right payment mix to
market developments, they will be hauled over by developments
drive conversion
outside the existing payments infrastructure. Are we still speaking
Mobile payments will most likely become the standard option
of alternative payments or new payment systems? See, for
for consumers in the years to come. A fragmented market of
example, the development with real time or instant payment.
competing technologies supporting mobile payments is hampering
This is perceived as the new cash. In the ecommerce era, users
the potential for consumers to buy wherever, whenever. In order
expect such solutions to be available and deliver the same
for Europe to remain competitive in the payments market, and the
payment experience as cash, i.e. not only provide immediate
ecommerce market in general, it is of vital importance that any
confirmation that funds are available on the payers account, but
(alternative) payment solution be available on all mobile devices.
also immediate availability of such funds to the payee. Another

interesting development, from a European perspective, to have a
Alternative payments are factually all payment solutions next to
closer look at is the online banking e-payment solution.
card payments. There are plenty of alternative payment solutions

which are crucial for the turnover by merchants as the right payment
Online banking e-payment (OBeP) solutions can significantly
mix will drive conversion. For online merchants, successful and
reduce costs for consumers and retailers associated with
interoperable e-payment innovations pay attention to and are
mitigating fraud and authentication of the credit transaction,
judged on three basic principles: Reach, Conversion and Fair Cost.
thereby increasing reach and conversion for retailers at a fair cost.

OBeP redirection solutions potentially unlock e-payments for all
Reach is defined as the number of potential buyers that have
European countries through the consumers familiar and trusted
access to the mix of payment methods. The total reach of a retailers
online banking portal in combination with the SEPA payment
payment mix determines whether an interested visitor can become
instruments. Online merchants urge the European payments
a potential buyer. Conversion defines the chance of whether an
industry to develop a suitable pan-European OBeP solution for
interested visitor will become an actual customer: it determines
the mobile market as well. Ecommerce Europe advocates a pan-
business volume and revenue.
European OBeP solution, such as the MyBank initiative developed

by EBA Clearing.
64
Paul Alfing
Chairman e-Payments
Committee
Ecommerce Europe
Digital wallets: how digital wallets change the landscape
It is safe to conclude that, with alternative payments, there are
plenty of developments on a global scale that work towards a
About Paul Alfing: Paul Alfing, MA, is chairman
seamless shopping experience with one-click-buy. It is the only
of the e-Payments committee of Ecommerce
solution that can ensure maximum reach and conversion at a fair
Europe, the Brussels based association
cost for merchants and consumers, and which consequently fits
representing 25.000+ companies selling
consumer demands for the years to come. Furthermore, one-click-
products and/or services online to consumers
buy is the only solution that can adequately facilitate technological
in Europe and for Ecommerce Europe technical
developments in mobile payments, business-to-consumer
expert in the Euro Retail Payments Board.
payments, peer-to-peer payments and brick-and-mortar store
About Ecommerce Europe: Ecommerce
payments.
Europe is the association representing around

Whereas the market should facilitate the means for one-click-buy
25,000 companies selling products and/
through mobile payment solutions, e-ID solutions, wallets and
or services online to consumers in Europe.
the institutional framework for realising this should be guaranteed
Ecommerce Europe offers to be a one-stop-
by governments. Legislative solutions, such as the PSD2 and
shop for the European Institutions for all
the e-ID security framework, should foster a safe and innovative
e-commerce related issues. Ecommerce
cross-border payments infrastructure allowing merchants to move
Europe can be consulted when it comes to
towards offering one-click-buy options.
market research and data, policy questions and

in-depth country knowledge.
In the end, it is up to the consumer to decide which options best

meet their demands and which will become the most trusted one-
www.ecommerce-europe.eu
click-buy solutions. Wallet solutions are a viable candidate to bridge

the gap between online, offline and mobile payment contexts and
to improve the cross-border usability of cards. They can be used
both on the internet (online) as well as in brick and mortar stores.
Different funding sources provide consumers with the flexibility
they need and a uniform interface on the merchant side enables
merchants to rationalise payment options to offer the right
payments mix on a global scale.
65
PPRO Group
When in Rome, Pay As The Romans Pay! - Payment Preferences in Different
Countries
Different countries, different cultures, different currencies. Why do
True, the credit card principle existed much earlier, but this period
US internet users prefer to pay by credit card, yet in Germany people
is considered by experts to be the one that paved the way for the
avoid plastic like the plague? We have been looking for clues to
credit card as we know it today. Since these pioneering days, credit
explain this situation by taking a look at payment cultures.
cards have enjoyed great popularity in their country of origin. If the

UK is regarded as the credit card heartland of Europe, then the fact
The fact is that, when it comes to paying online, credit cards have
that the UK and the US share a common language is on its own a
quickly become the method of choice. Throughout the world, no
plus factor for the credit card. The cultural influence of the US on
other payment method is so readily accepted when shopping
Europe is still strong today and strongest in the UK.
online. But, anyone who runs an online shop knows that it is not
enough just to offer credit card payments. In Europe, especially, the
Political influence on payment systems
credit card is nowhere near as popular a method of paying online as
After the UK, within Europe, credit cards are most popular in Spain
it is in the US. In 2013, 41% of transactions in Europe were made
and France and, to a lesser extent, Italy. Italy is a good example
without using plastic (Worldpay report 2013).
of the influence of politics on the payment methods and payment

habits of its people. Traditionally, Italians love to pay in cash.
Online retailers should be aware of the many different national online
But politics promoted the use of credit cards with some ground-
payment preferences, which are not always as one might expect.
breaking decisions. To combat crime and money laundering, cash
In the Netherlands, for example, two out of every three online
transactions of over EUR 1,000 have been made illegal, leading to a
payments are made using the iDEAL payment system. Germans still
sharp increase in the number of credit cards in circulation (Business
prefer paying with cash-on-delivery and direct debits, while Finns
Week). This increase in circulation has boosted the acceptance of
favour direct transfers via their online banking websites. Yet, one
credit cards which, in turn, is leading to increased demand.
key question remains unanswered. Why do these huge differences

exist when it comes to choosing how to pay online?
Economic reasons
Of course, economic reasons also play a large part in deciding
How do you like your coffee?
which payment systems become established in different countries.
There is no single reason or explanation for national payment
The banks have a leading role here. Take Spain, for example,
preferences throughout the world. The subject of online payments
where the banks offer credit cards primarily as account add-ons. If
is best seen as a development that is at the mercy of cultural,
a user has more than one account, it follows that they have more
political and economic influences in every country. Just as with
than one credit card. Therefore, the circulation of credit cards in
coffee, neighbouring countries have different preferences when
Spain is very wide and the proportion of credit card payments is
it comes to online payment systems. Germans favour their bitter
high compared to other payment methods. However, only 13% of
filter coffee, whereas Italians prefer a strong espresso.
payments in Spain are made via debit cards, as these are much
less common (Worldpay report 2013).
Lets begin our look at the differences in payment systems in the

US, the ultimate credit card country. The credit card achieved its
breakthrough in the US at the beginning of the Fifties.
66
Ralf Ohlhausen
Chief Strategy Officer
PPRO
The Netherlands is another example of how great the influence of

banks is. Here, the iDEAL system is very popular for online payments.
This payment method allows customers to pay by direct transfer
About Ralf Ohlhausen: The author is Chief
from their own bank. The reason why this system has become so
Strategy Officer with the PPRO Group and
firmly established in the Netherlands since 2005 is because the
has over 25 years experience in ecommerce,
majority of local banks there support it and promote it well.
financial services, mobile telecommunications

and IT. At the PPRO Group, Ralf is responsible
Technological reasons
for increasing the companys global reach,
One modern factor that influences payment preferences in individual
focusing in particular on the addition of new
countries is new technology. This can be seen in Kenya, for example,
payment options to the companys portfolio.
where the mobile payment system M-Pesa has a very high market
share. The technology associated with this system has helped to
About PPRO: The PPRO Group, The Payment
provide secure financial services to a largely unbanked population.
Professionals, offers PSPs and financial
This problem does not exist in the US and Europe but, nevertheless,
institutions a wide range of international
modern technology still influences payment habits, if nothing else,
payment schemes enabling the processing
because it is easy to use. Therefore, in many countries it is the
of electronic payments globally through one
fast payment methods such as direct transfer or e-wallets that are
contract and one simple integration. PPRO
gaining most ground.
products and services span the entire payments

value chain from acquiring through processing
For years, many experts have seen a lot of potential in mobile
and issuing.
payment systems because smartphones have become constant

companions for a lot of people. All you have to do is integrate a
www.ppro.com
payment function into the mobile phone and you have everything
you need to make a payment. Nevertheless, paying by smartphone
has not yet become widespread. Potentially, Apple Pay could be the
technology that opens up mobile payments to the masses, globally.
67
RatePAY
Online Payment in Germany: Security and Tradition
With the right payment mix, customer reach can be
A study conducted in December 2014 shows that SEPA direct
improved by 50% in Germany
debit combines a high customer acceptance rate with minimal
Germans are conservative and this is reflected in their traditional
costs to merchants (Source: E-Commerce-Leitfaden: The Future
attitude towards online payment: open invoice and direct debit
of Payment, 2014). However, in addition to chargebacks, direct
(SEPA-ELV) are the most popular methods of German online retail
debit also contains procedural obstacles such as pre-notification
payment. By ignoring this aspect, merchants will suffer abandoned
and mandate administration. Consequently, many merchants no
purchases. What should online merchants bear in mind in order to
longer have this payment method on offer.
be successful in Germany?
A further preferred payment method, which is increasingly popular
It is a fact that credit card payments are the worlds top cashless
in Germany, is instalment payments or convenient part payments.
method. However, this does not apply worldwide and certainly not in
Aggressive promotion of flexible financing by major electronics
Germany, where only 35.7% (Source: DIMOCO: Direct Carrier Billing
retailers has greatly influenced this trend and the demand for
in Germany, 2014) own a credit card and only 10% (Source: EHI Retail
instalment payments has risen in ecommerce. Customers are not
Institute, EHI Research study: Online-Payment 2015 Distribution
necessarily opting for instalment payments out of financial need,
of Payment Systems) use it. Germans love security and tradition,
but rather because it offers them greater flexibility.
which also applies for payments. Online shopping is no exception,

with Germans relying on familiar and trusted types of payment.
Abandoning risk if desired payment type is not offered
The challenge for merchants and payment service providers is to
Germans are creatures of habit. When making purchases online,
incorporate common offline payment methods into the world of
approximately 24% abandon their purchase if their trusted
ecommerce.
payment type is not offered. A further 27% only continue with

their purchase if there is a satisfactory alternative (Source: ECC
Open invoice is definitely most popular
Cologne/Aschaffenburg University of Applied Sciences: Payment in
In Germany, open invoice is, by far, the most popular payment
e-commerce, 2014). Conversely, it has been proven that merchants
type. How can this popularity be explained? Germans grew up
who offer open invoice suffer 79% abandoned payments at the
with catalogues from companies, such as Otto and Quelle. Many
check-out. If direct debits are included, the rate is still high, at
remember the great piles on their parents and grandparents
40% (Source: ibi Research: Payment as a success factor: the
coffee tables. Large mail order companies enjoyed success
influence of payment processes on your sales, 2nd edition 2013).
with the slogan: try before you buy. Germans became used to
Where instalment payments are offered, merchants see shopping
merchants bearing the cost in advance. Today, around 80% of
bag values rise by 11% and sales by 7% (Source: E-Commerce-
German online shoppers state that open invoice is their preferred
Leitfaden: Instalment payment in e-commerce, 2014).
payment method (Source: ibi Research: Payment as a success

factor: the influence of payment processes on your sales, 2nd
edition, 2013). It is particularly popular among women. The second
most popular payment method is direct debit (DD). It was popular
in Germany even before the SEPA changeover in 2014, but has
since received a significant boost.
68
Miriam Wohlfarth
Co-founder,
Managing Director
RatePAY
No risk for buyers or merchants
So, Germans prefer familiar payment methods without any
advance costs. This means merchants have to incur these costs
About Miriam Wohlfarth: Miriam Wohlfarth,
and therefore bear the full risk. Previously, it was difficult for
Managing Director and co-founder of RatePAY,
many online shops to offer the most popular payment options in
has been working in online payments for over
Germany. Payment processing, risk management and dunning
15 years. Prior to RatePAY, she was country
processes are all time consuming and require a certain degree
manager in Germany at Ogone (Ingenico
of knowledge and, as a result, default payments are almost
Payment Services) and the Royal Bank of
inevitable in order to avoid deficits in payments. The average
Scotland (RBS) Bibit, Germany.
cost for every payment default is about EUR 66 (Source: ECC

Cologne/Aschaffenburg University of Applied Sciences: Payment
About RatePAY: RatePAY offers local payment
in e-commerce, 2014).
methods, such as open invoice, instalment

payments with real-time online acceptance and
In recent years, new service providers have entered the market with
direct debit with a 100% payment guarantee for
solutions that assume total responsibility for processing unsecured
online shops selling to Germany, Austria and
payment types. These include buyer risk identification, invoicing,
Switzerland. In addition to factoring, RatePAY
dunning processes, bookkeeping and customer communications.
offers also individual modular solutions.
This saves the merchant time, allowing him to concentrate on his
RatePAY is a member of the Otto Group.
core business: sales. The merchants great demand for this service:
according to a recent study, 41% of merchants are planning to
www.ratepay.com
outsource secure open invoice processes to a professional service

provider soon and 20% intend to offer secure direct debit services
(Source: E-Commerce-Leitfaden: The Future of Payment, 2014).
RatePAY offers a full service and 100% payment

guarantee
At RatePAY, we understand the payment preferences of Germans.
Being an expert for the processing of unsecure payment methods,
we specialise in open invoice, instalment payments and direct
debit. Merchants who dont offer these options in Germany may
miss out on 50% of sales (Source: EHI Retail Institute: OnlinePayment-Study 2014). RatePAY offers all merchants a full payment
guarantee, enabling inclusion in their portfolio without any risk.
69
Trustly
How Developments in Payments Will Truly Establish the Sharing Economy
Model
When it comes to the sharing economy, ratings and reciprocal
Since the very first sharing economy platforms, such as eBay,
reviews have long been considered fundamental to building
were established, the system of community checks and balances
trust between parties. While important, I would rather argue that
has kept things moving forward. Both customers and sellers need
the true drivers of the sharing economy model in the future are
to feel comfortable with all aspects of the engagement; customers
simplified and unobtrusive ways of identification along with reliable
want to feel secure that the service they are getting matches their
and tailored ways to make payments build trust amongst all parties
expectations while the seller needs to know not only that they will
involved and allow this revolutionary socio-economic ecosystem
be paid, but also that their interests are secure.
to reach its full potential.

That is where the platforms and marketplace owners come in; it
Disrupting established industries
is their role to make the market as effective as possible. In order
Since its mainstream advent, following the financial crisis, the
for them to succeed, however, there is a real need to facilitate
sharing economy model has bucked scepticism and is on the verge
the creation of trust not only between peers, but also between
of proving its viability.
participants and the platforms in the sharing economy without

adding complexity. There has been an overreliance on the
Authors Rachel Botsman and Roo Rogers estimate in their book
community to manage itself and community led reputation can only
"Whats Mine is Yours: The Rise of Collaborative Consumption" that
take the system so far.
the size of the total sharing economy is, at least, worth USD 110
billion. The acceleration of this form of exchange is not expected
Issues with reputation based platforms
to slow down any time soon; a recently published report from PwC
An issue with reputation is that reputation is very subjective because
estimates the sharing economy to be valued at USD 335 billion
preferences are subjective. There are other challenges associated
in 2025. It is obvious that the collaborative consumption model
with an overreliance on reviews, as well. AirBnB and other sharing
has disrupted established industries ranging from transportation,
economy pioneers have, for example, grappled with problems of
hospitality, retail and entertainment and shows no sign of abating.
review inflation and review retaliation. That is why, in my opinion,

reputation can be a complement to, but does not replace identity
So what has caused this massive growth? At its core, developments
verification.
in internet coverage and usability, along with social media,

has revolutionised the way we shop and interact with others.
The problem is that identity verification often adds complexity to
Fostering these developments, online marketplaces and platforms
the user experience. However, most marketplace owners do not
have managed to unlock whole sectors of individuals creating
want to burden private users with long registration or verification
communities of micro-entrepreneurs who are then kept from
processes before they actually become active. Likewise,
misusing the platforms through user reviews and rating systems.
marketplace owners do not want to expend valuable resources

performing background checks and other administrative tasks
to identify individuals using the service. While many players in
the market implement screening procedures, they are usually
cumbersome and risky. Moreover, it is not efficient for customers
to upload passport copies or other identity documentation on
several platforms.
70
Catrine Rhenberg
Head of Marketplaces
Trustly
PwC points this out in a report in its Consumer Intelligence Series

on the sharing economy. They say "For the sharing economy to
continue to expand, the players within it will need to find ways
About Catrine Rhenberg: Catrine Rhenberg
to authenticate the identity of consumers In a peer-to-peer
is Head of Marketplaces at Trustly Group. She
model, not everyone has government verified documents or social
joined the company in 2014 from iZettle, where
media profiles that can sometimes suffice instead. Identifying, and
she was Commercial Manager, supporting their
upholding, quality and trust metrics will be critical to success in
international expansion. Catrine holds a B.Sc.
this evolving model."
in Economics with Economic History from the

London School of Economics.
A balanced and simple solution

What if there was an unobtrusive solution that was highly objective
About Trustly: Founded in 2008, Trustly Group
and which verified consumers identity with a high degree of
AB is a Swedish FinTech company providing
confidence, but did not require users to complete additional steps
speedy, simple and safe online payment
and could be completed at the time of the transaction?
solutions. In 2014, Trustly was ranked amongst

Sweden's fastest growing technology companies
This is precisely what Trustly does. Our service was built as a
on the Deloitte Technology Fast 50 list. Trustly
complement to existing bank infrastructure and banks do a good
is a licensed Payment Institution under the
job in verifying user identity. Leveraging online banking identification
supervision of the Swedish FSA.
is one of the simplest and safest ways to verify who you are.
Trustly removes the need for sensitive documents or payment
www.trustly.com
information to be stored on various different platforms altogether.

At the same time, Trustly is a payment facilitator. The customer both
verifies their identity and pays in a single process.
While it is fantastic that successful platforms have been established
in recent years, and the more people use them, the more encouraged
they will be to try new offerings, ultimately the way parties are
identified in any transaction or service relationship, as well as how
payments are made, will be fundamental to the industrys growth.
Trustly helps you monetise your marketplace simply and build
trust in your community.
71
The European Payments Council

The Third ERPB Meeting Agrees Next Steps for Payments in Europe
The Euro Retail Payments Board (ERPB), chaired by the European
The Scheme would be separate to the existing SCT Scheme.
Central Bank (ECB), held its third meeting on June 29, 2015. An agree
It would support a competitive initiation layer.
ment was reached on next steps regarding instant payments in
It would be based on clearing and settlement layers.
euro, person-to-person (P2P) mobile payments, technical standards
Scheme membership would be open to any PSP but it would not
relating to payment cards and e-invoicing payment issues.
be mandatory.
Scheme Rulebook adherence would be mandatory for those who
Instant payments in euro
join.
In response to an invitation extended by the ERPB on December 1,
S
cheme participants would participate as both sender and receiver.
2014, the EPC provided recommendations on instant payments.
A rulebook would be created to cover interbank clearing and
They were clearly introduced as a contribution from one stakeholder

among many represented at the ERPB.
customer-to-bank and bank-to-customer relations.

Other instant payment SCT-based schemes would need to be
interoperable with the SCTinst.
The ERPB welcomed he EPC report as an important step towards

achieving pan-European instant payments in euro and agreed the
following:
Indirect participants to the scheme would be able to fulfil scheme

requirements.
The meeting also identified and debated potential issues regarding
the SCTinst, including implementation, timespan, availability,
That irrespective of the payment instrument on which they are
value dating outside of business hours, erroneous and fraudulent
based, instant payment solutions offered to end-users in euro
instant payments and regulatory aspects. The EPC report to be
should be developed at the pan-European level or, if developed
submitted for the ERPB meeting of November 2015 will show how
at the national level, should at least be interoperable with those
these issues may be resolved.
solutions based on the same payment instrument;

to invite the EPC to present to the ERPB, by November 2015,
Person-to-person mobile payments
a proposal for the design of an instant SCT (SCTinst) in euro,
In response to recommendations from a report provided by the
which could be adhered to by EU payment service providers on a
ERPB working group on P2P mobile payments, the members of
voluntary basis;
the ERPB subsequently agreed to endorse the vision of allowing
to call for the creation of a group that reflects the composition
any person to initiate a pan-European P2P mobile payment
of the ERPB at the level of alternate ERPB members to offer
safely and securely, using a simple method with information the
guidance as needed to the EPC regarding the development of the
counterparty is prepared to share in order to make a payment.
SCTinst in the period from July to November 2015.

The ERPB has also expressed its expectation that the existing
As a result, the EPC will prepare the agreed proposal in close
and future local mobile P2P solutions cooperate to ensure pan-
liaison with an ERPB multi-stakeholder High Level Group which
European interoperability and has invited the EPC to facilitate this.
will provide guidance to the EPC and monitor progress.
Technical standards relating to payment cards

The ERPB High Level Group on instant payments held its first
The ERPB next agreed with a detailed report on the market
meeting on July 17, 2015 to discuss next steps in relation to the
initiatives to develop technical standards (implementation
EPC Scheme for instant payments. During this meeting, the EPC
specifications) delivered by the Cards Stakeholders Group
presented its preliminary thoughts on the position and scope of
(CSG), a multi-stakeholder group of which the EPC is a member.
the SCTinst, summarised as follows:
It responded that in the terminal-to-acquirer and card-to-terminal

domains, the choice of implementation specifications should be
72
Javier Santamara
Chair
EPC
market driven and conform to the SEPA Cards Standardisation

Volume (SCS Volume). In the terminal security domain, terminal
security certification methodologies, processes and certification
About Javier Santamara: Javier Santamara
frameworks should implement the relevant list of requirements
is the Chair of the EPC, and a Senior Vice
described in the SCS Volume. The ERPB then invited the CSG to:
President with Banco Santander. He is a member

of the Board of the Euro Banking Association, a
implement the relevant procedures and start to monitor the

conformance of implementation specifications for payment card
Director of the SWIFT Board and Chair of the

Iberpay Board.
products and services to the SCS Volume in H2 2015;

perform a study at the European level to evaluate any interest
About EPC: The EPC is an international not-for-
and benefit of the migration to a single message standard and
profit association, representing payment service
standardised clearing/settlement practices in the issuer-to-
providers, to support and promote European
acquirer domain;
payments integration and development,
r eport back to the ERPB every 12 months with an update
notably the Single Euro Payments Area (SEPA),
on the stock-taking exercise concerning the progress of the
through the development and management
implementation of harmonised standards relating to payment
of pan-European payment schemes and the
cards in Europe.
formulation of positions on European payment

issues.
E-invoicing payment issues

Finally, on the basis of a note prepared by the ERPB Secretariat,
www.epc-cep.eu
the ERPB endorsed the objective of a harmonised electronic

invoice/bill presentment & payment (EIPP/EBPP) service for
payers and payees, and an electronic invoicing/billing network for
payees to reach all consumers and businesses in Europe. The EPC
subscribes to the view that the topic should form part of a broader,
end-to-end perspective and be linked to the recently announced
EC Digital Single Market strategy as well as to previous work
carried out at EC level.
Following the meeting, the EPC stands ready to continue its active
contribution to the objectives and work of the ERPB as well as to
the implementation of the agreed upon ERPB recommendations,
with the full involvement of all other stakeholders. A statement
following the June 29 meeting is available on ECB website.
73
CMS Payments Intelligence

US - Europe Regional Comparison in Terms of Regulation in the Alternative
Payments Space
Despite promising to deliver significant savings to merchants,
Interchange regulation has been implemented in both Europe and
interchange regulation has proved ineffective for online merchants
the US but, despite being panacea for excessive card fees, some
in North America, and is set for the same scenario in Europe.
online merchants will actually see very little net benefit while others
increase in fees. Why?
The North American and European online card markets are the
largest globally (see graph below), with 5.7 billion transactions
North America
happening in Europe and 18.9 billion in North America in 2014. Both
In the US, the Durbin Amendment, introduced in October, 2011,
regions have rapid volume growth via organic economic expansion
only covered debit card transactions. Credit card transactions
and brick-and-mortar retail cannibalisation. Currently, North America
are exempt from Durbin and, unfortunately, for online merchants,
is a more mature online payments market, with nearly 20% of all
less than 40% of online spending in the US is on debit cards.
card transactions happening online. Some European countries
However, even debit card interchange savings have been heavily
like Denmark, the Netherlands and the UK have high ecommerce
compromised by a diluted regulation. First, Durbin was originally
penetration rates. Others are still very dependent on in-store cash
scheduled to reduce debit card interchange from an average of
spending or online non-card alternative payment methods. This is
USD 0.44 per transaction to USD 0.07 0.12, but the cap was
forecast to change in the future. One consequence of substantial
increased to USD 0.22 by the time the regulation was introduced.
volume growth is that high card fees are becoming a heavier
Second, a small issuer exemption was added, meaning that 35%
burden for online merchants. In many countries, card fees for
of all debit card transactions were exempt from Durbin. Third,
secure ecommerce transactions are higher than for secure face-to-
merchant acquirers absorbed many of the benefits of regulation in
face transactions and merchants looking to raise their ecommerce
practice by not passing on savings to merchants (greater negative
presence are, therefore, seeing increased card fees as their revenues
effect on smaller merchants).
switch channels.
The total remaining annual Durbin benefit for online merchants
in the US is USD 1.37 billion, based on 2014 volumes. However,
more than half of this benefit has been destroyed by the varying
and additional fees, totalling USD 753 million per annum (CMSpi
estimates). These were unveiled by Visa and MasterCard after
Durbin, including USD 351 million for the Visa Fixed Acquirer
Network Fee (FANF), USD 278 million in increased international
service assessment fees and USD 79 million in increased
assessment fees. The fees are particularly punishing for online
merchants, as only 20% of all domestic card spend is online but
29.3% of all network fee increases have been levied on the online
sector.
Canada faces a similar situation because Interac, a dominant local
debit card scheme, has no interchange but is seldom used for
online transactions. Meanwhile, Visa and MasterCard interchange
Source: The Nilson Report
74
may have recently been capped at 1.5%, a very high cap solving
few problems for online merchants.
Elley Frost
Managing Director
CMSpi
Europe
In Europe, the regulatory landscape is equally meagre. Many online
merchants saw a substantial interchange increase in March 2015,
About Elley Frost: During her 15 years
when Visa Europe changed its definition of online transactions such
at CMSpi, Elley has worked on delivering
that all MOTO transactions and non-3D Secure eCom transactions
bespoke payment solutions to a wide variety
(even where the CVV2 code is captured) now count as non-secure
of merchants in nearly every sector. Elley has
(this has impacted the online gaming sector in particular).
worked closely with both European and US

merchants to analyse and optimise their supply
After many years of waiting, EU-wide interchange caps are set
chains and provide innovative cash, merchant
to be introduced on December 9, 2015. However, as with the
acquiring and new technology solutions to
US, the regulation was diluted shortly before being entered into
reduce their payments costs.
force, with a EUR 0.07 per transaction debit card interchange

cap removed, commercial cards exempted and three party card
About CMSpi: CMSpi acts as a merchant
schemes also exempted. Following this, CMSpi calculates that the
champion in the payments industry. We are
net interchange benefit against 2010 interchange rates and 2014
actively engaged with merchants of all sizes to
volumes to be EUR 591 million for online merchants across Europe.
help minimise their cost of payment acceptance.
Additionally, as with the US, new post-regulation fees are emerging;
www.cmspaymentsintelligence.com
already MasterCard has released details on four new fees that will
greatly erode interchange benefit, with the proposed EUR 15 per
chargeback dispute fee set to be the most painful for the online
sector. Meanwhile, publically listed Visas impending takeover
of not-for-profit Visa Europe, suggests that similar fees can be
expected from Visa in the near future. Inevitably, the replacement
fees will end up absorbing the benefits of regulation, leaving little for
merchants, as they have done in the US.
Conclusion
Interchange regulation has failed merchants in the US and is
set to fail merchants in Europe, too. This is because of a heavily
diluted regulation being followed by replacement fees designed
to circumvent regulation and eliminate many of its benefits.
The replacement fees have hit online merchants particularly
strongly and, we think, there is an important reason why Visa
and MasterCard have targeted the online sector in particular: its
growth. By charging the highest fees to the fastest growing card
payment channel, the card networks are future proofing their own
businesses.
75
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/
PAYMENTS
RISK
MITIGATION:
INDUSTRY
INSIGHTS
MRC
Four Pillars to Prevent, Minimise Data Breaches
One billion, one hundred million that is how many records were
Everyone in a company, from executive leadership to front line
compromised in 2014 per risk-based security , which shattered
support and service positions, must be familiar with these types
the previous mark set in 2013 by more than 22%. Numerous
of scams, and know both how and to whom such suspected or
mainstream companies were targeted, including Home Depot, JP
confirmed incidents should be reported. By joining a professional
Morgan Chase and eBay. Those three companies alone constituted
organisation like the Merchant Risk Council (MRC), key payments
nearly one-third of the lost and stolen records: JP Morgan Chase:
and fraud personnel can gain invaluable insights, discuss
around 76 million records , Home Depot: around 109 million
emergent threats and trends and share best practices with other
records , around 56 million of which were credit cards and debit
industry professionals.
cards and eBay: around 145 million records.
2. Check vigilantly for malware across all devices and

The National Consumers League states that, if a consumer's
systems - Malicious software was found to be the root cause
data has been breached, the odds are one in three that the
of the Home Depot data breach. Several other companies were
consumer will become a victim of fraud (page 5 of file). The
victims of malware on their point-of-sale (POS) terminals in
impact to consumers can range from irritants, like disputing
the past two years, including Target , Neiman Marcus and
unauthorised charges or updating automated bill payments to use
Michaels Stores . While these large-scale breaches exposed
a newly issued payment card number, to major life disruptions like
vulnerabilities in POS terminals, businesses must also ensure
recovering from identity theft. Breaches involving social security
any system or device which can be used to access company data,
numbers or health care data can be especially challenging for
email, etc. is routinely and thoroughly checked for malware. This
consumers as this information cannot be reissued and often the
includes cell phones and tablets, not just company-issued laptops.
burden of proving innocence lies with the victimised person.
3. Restrict data to those who need to know - Companies

Organisations like the Federal Trade Commission (FTC) and the
must balance transparency and openness with limiting information
National Consumers League have recommendations that
to those individuals who need to know. In its report, "2014: A Year
consumers can use to help protect their personal information.
of Mega Breaches ", (fig. 12) the Ponemon Institute indicated
For businesses, the following four pillars can provide a solid
that 45% of companies who reported a breach said the incident
foundation to minimise their chances of being breached and limit
resulted from either non-malicious employee error or malicious
any adverse impact to the bottom line if a breach occurs:
employee activities, which was equivalent to the percentage of

companies that reported malware as the root cause of the breach.
1. Create a culture of security
- Security has to start at
Routinely auditing permissions, maintaining access control lists
the top of a company. Leadership must become well-versed on
and restricting sensitive information to only those employees who
data and information security issues, and ensure their teams
need to know are all recommended actions.
have appropriate resources to monitor, detect and resolve

system vulnerabilities. Businesses should document their data
4. Encrypt data - In the event devices are lost or data is stolen,
security processes, develop an incident response plan if they
encrypting information helps ensure it is not readable or useable
do not already have one and review these documents regularly.
by illegitimate parties.
Illegitimate activities like phishing, spear phishing and social

engineering are no longer just the domain of IT Security.
78
Markus Bergthaler
Building
MRC
Better Commerce
Global Director of
Programs and Marketing

MRC
While there are upfront expenses regarding each of these

recommendations, businesses should bear in mind that the costs
incurred once a data breach happens continue to escalate. In its
Mike Splichal
tenth annual "Cost of Data Breach Study ," (p. 8 of file) which
Program Manager
MRC US
reviewed 350 companies across 11 countries, the Ponemon

Institute reported that the average consolidated total cost of a
data breach rose 7% in 2014 to USD 3.8 million; the average cost
for US organisations was USD 6.5 million. Their study also found
that the cost incurred for each lost or stolen record containing
sensitive and confidential information climbed more than 6% to
About Markus Bergthaler: Markus Bergthaler,
a consolidated average of USD 154; in the US, the consolidated
MRC Global Director of Programs and Marketing,
average (p. 6 of file) was USD 217 per record.
oversees benchmarking, education, committees,

communities, marketing and event content.
Ponemon also noted that companies based in certain industries

typically incur higher costs when records are compromised, with
About Mike Splichal: Mike Splichal, MRC
breach costs in the finance and pharmaceutical industries 40%
US Program Manager, coordinates content
higher than average, education nearly double the average, and
for committees, presentation archives and
health care more than twice the average (p. 10 of file). This is due
community forums. He also develops member
to the breadth and depth of personally identifiable information that
training and certification programs.
companies in these industries record and maintain.
About MRC: The MRC is an unbiased global

Benjamin Franklin once wrote, "An ounce of prevention is worth a
community providing a platform for ecommerce
pound of cure." Even two and a quarter centuries after his death,
fraud and payments professionals to come
businesses would do well to heed his wisdom as they plan and
together and share information. As a not-for-profit
execute an IT security strategy for their organisations.
entity, the MRCs vision is to make commerce

safe and profitable everywhere by offering
proprietary education, training and networking
as well as a forum for timely and relevant
discussions.
www.merchantriskcouncil.org
79
NOIRE
By allowing companies to move faster, NOIRE increases revenues whilst reducing risk and costs of doing business.
Could you provide our readers with some insights into
What benefits does tokenization provide to merchants
your companys mission, strategy and target markets?
and payment networks in order to stay secure against
We focus on bringing together best technology, acquiring services,
fraudulent attacks?
localised regional payment strategies, along with advanced fraud
In tokenization, tokens are stored as secure elements instead
risk management to provide the best payment solution for various
of card details. They are used for many things, such as recurring
use cases, such as providing Chinese local payment options for
payment models, multiple batch payment runs or simply for storing
complex business models. Another example is around taking
customers cards so they can do another payment without the need
payments in the local currency and settling to a bank account in
to re-enter card details.
that region in the local currency to comply with local requirements.

The tokens provide additional protection for merchants. They dont
Which are the greatest concerns that your merchant
need to store customers card details, which means that, even if
customers express in terms of payments security and
they do get hacked by fraudsters, the data is not there for them to
how do you mitigate them?
take. There have been recent stories in the press about customer
The greatest concerns on behalf of our merchant customers swirl
card details and bank details being stolen by fraudsters. However, if
around data security, prevention of hackers stealing customers
these organisations had used tokens instead of storing card details
details and card details. In this respect, we provide PCI Level 1
they would not have been exposed to the same level of risk.
platform security solutions. In addition, we tokenize card details,

implying that our customers never need to store a customers card.
What does a merchant need to do in order to be able

to quickly respond to new fraud threats?
Merchants should protect their business data, such as user
accounts and technology environments, in order to identify and stop
fraudulent transactions on time. The challenges to managing risk in
doing business online are plentiful. We work with our customers to
provide the most secure platforms for taking payments in correlation
with real time fraud detection on transactions.
What is the impact of multichannel commerce on risk

management?
Taking payments from apps on smartphones to websites implies
different risk exposure and requires different approaches to
mitigating fraud because, for example, fraudsters who gain access
to a merchants customer account data on one channel, can use
that data to breach other channels, respectively.
80
The greatest concerns on behalf of our

merchant customers swirl around data
security, prevention of hackers stealing
customers details, card details
Does tokenization foster or impede innovation in
Tim Thompson
CEO
NOIRE
payments?
About Tim Thompson: Tim has 20 years
Tokens are used for multiple batch run payment strategies. Tokens allow
working experience in leadership roles for
customers accounts to store card data for reuse without the need to
venture back successful start-up companies.
enter card details again. Tokens allow merchants to provide a secure,
Specialist in payments and risk management
simple and time saving solution for customers.
technologies and the complexities around

FOREX, financial services, ecommerce, cross
Which are the top cybersecurity risks expected to

impact businesses and consumers in 2016?
border and localized payment methods.
I would say that customer account hacking is a top one. This is where
About NOIRE: NOIRE is a leading UK-based
accounts are compromised by fraudsters. There could be online
boutique payment and fraud risk solution
financial accounts, or simple customer accounts used for general
provider. The company offers internet merchant
ecommerce businesses.
accounts and bespoke payment gateway

technology, along with pioneering the most
advanced risk management and fraud protection
technology for companies ranging from FTSE
listed companies to small start-up businesses.
www.noirepay.com
81
Russian Electronic Money Association

Breaking the Glass Ceiling: Innovating AML/CFT in Retail Finance
Ceiling is still there
However, Russian regulation still does not recognise the difference
AML/CFT cost is the fastest growing budget line in the financial
between identification and verification and limits usage of third-
sector. KPMG Global Survey indicated an average of 53% increase
party databases for acquiring additional information about the
in AML investments from 2012 through 2014, with 74% of survey
person. This incremental modernisation of regulation seems to
respondents expecting it to grow further in the years ahead (Global
be only the first step in the right direction. However, while exact
Anti-Money Laundering Survey 2014 by KPMG International). The
steps are rather a national matter, the basic direction should be
number of vendors pitches on AML/CFT products and services is
universal.
growing proportionately. Information about clients has never been

as important as it is now for the viability of the business. Historically,
It is not about the identification
AML/CFT regulation applied primarily to bank accounts, and in a
AML/CFT regulators may learn a lot from the payments industry. In
face-to-face era no one really considered it a challenge. Today,
order to prosper, financial institutions learned to share their clients
anti-money laundering requirements define the development of the
and effectively collaborate to create new products and services.
financial sector worldwide. No product or even minor functionality
Clients register their cards in e-money wallets, make card-to-card
can be released without compliance department approval.
transfers on third-party websites and withdraw cash at ATMs all

over the world. Money is rather in the cloud than with the client.
Expectations that AML/CFT requirements will help banks in the
It is not the same with CDD. In many jurisdictions, clients need to
battle with cash did not come true. Some jurisdictions curbed
visit the bank office showing their ID. If a client visits many banks,
cash usage, but only for high-value purchases. Those with
clerks at each office will have to do the same over and over again:
middle and lower incomes are, on the contrary, facing stricter
identifying and verifying the same information using the same
CDD requirements and, for them, using cash is sometimes easier
tools. If money is in the cloud, why clients information is not?
than getting to the bank office with the ID and a stash of other
And, why are we still using outdated authenticating techniques,
documents. Risk-based approach in the FATF Recommendations
trusting the ID card more than its owner?
is still rather unclear and depends on local interpretations of what

high and low risk is. The arbitrage is obvious when comparing the
Lack of progress in CDD procedures worldwide can be explained by
account opening procedures in Russia and the UK, for example.
the disproportionate evolution of identification and authentication.

Citizens data is already stored, either centrally or decentrally, in
82
It is getting obvious that there will be no breakthrough in payments
state or privately-owned databases. If the state does not know
without the breakthrough in AML/CFT procedures. Traditional CDD
something about you, credit bureau does. Hence, the future of
is holding the industry and the client back. Russia is probably
CDD depends not on the data but rather on the ways to access
one of the representative examples of notorious and sometimes
it. How to make sure that the person is the one he says he is?
painful transition to the new CDD paradigm. Up to 2014, Russia
India is probably one of the most forward-thinking jurisdictions in
employed binary approaches to CDD: regulation either required
this respect. Instead of relying on documents that can be stolen,
full identification or permitted full CDD exemptions. Since 2014,
forged and lost, they created national iris and fingerprint database
financial institutions are allowed to perform simplified due
creating the ultimate paperless KYC. This is probably the most
diligence by verifying two factors via state databases and mobile
indicative example of more progressive customer due diligence.
phone number, or using credentials from the clients verified
It is not about the identification, it is about the tools to access
account on the e-gov website.
correct data and access it safely.
Dr. Victor Dostov
ELECTRONIC
MONEY
President
Russian Electronic
Money Association
Unfortunately, for many banks and regulators authentication has

long been second. But innovative authentication techniques can
pave the way to simple and effective full CDD process that can
About Dr. Victor Dostov: Dr. Dostov is a
mitigate risks, but be as convenient as what we call simplified CDD.
President of the Russian Electronic Money

Association since its inception. With background
New face for full CDD
in management, research and investment in
Even though risk-based approach is crucial, instead of
payment technology projects, he provides his
experimenting with multi-tiered models, complicating internal
expertise on payment industry developments
procedures and confusing the customers, regulators and financial
and regulation to public and private bodies.
institutions may well look into innovating the whole system. FATF
Recommendations do not say anything about full CDD being
About Russian Electronic Money Association:
burdensome. It requires effectiveness, instead. Apart from close
Russian Electronic Money Association is an
cooperation with the regulators, financial institutions should
industry association currently representing the
contribute by investing into more advanced authentication
15 largest players of the Russian e-money and
techniques. Data storing entities be those private or public
money transfer industry. Primary goals of REMA
should not only aggregate information but also think of how to
are sustainable development of the industry,
use it wisely. Moving away from photos and PINs towards remote,
promotion of best practices and provision of
reliable verification of identity may help breaking the glass ceiling,
expertise for the major stakeholders in private
which is the CDD from the 20th century for the financial services
and public sectors.
from the 21st.
www.npaed.ru
Latest Russian regulations allow to perform simplified CDD

by authenticating the client via the e-gov portal. However, the
projects like these require universal enrollment and technical
flexibility. Russia still has a way to go
83
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THE MARKETPLACE MODEL

OPENING THE
WORLD FOR
BUSINESS
Alibaba.com
Alibaba.com is committed to supporting Thailand SMEs grow their business through its platform.
What is Alibaba.coms philosophy about ecommerce,
(3) In addition, our 1688.com platform is another channel for Thai
in general?
SMEs. 1688.com is a leading online wholesale marketplace
Alibaba Groups mission is to to make it easy to do business
in China and has been in operation since 1999. By the end
anywhere. With that mission in mind, Alibaba.com is bidding to
of 2015, 1688.com is scheduled to roll out services including
boost trust and provide one-stop services to facilitate cross-border
customs clearance, logistics support and product inspection
trading. In Thailand, we plan to roll out the upgraded Trade Assurance
to facilitate the importation of wholesale goods to China.
later in 2015 and the Merchant Delivery Scheme to help Thai SMEs.
We believe this is a great export opportunity for Thailand
They can also turn to the 1688.com for export opportunities.
merchants as well.
How can marketplaces help merchants boost their
B2B buyers are increasingly demanding a B2C-like
businesses across borders?
purchasing experience. What can B2B companies do
Speaking from Alibaba.coms perspective, we have the following
to match the B2C experience?
measures in place to help Thai merchants boost their business
Good customer experience is one key differentiation point in the B2B
across borders:
industry as well. To provide supreme customer experience, Alibaba.

com teams up with local partners to provide one-stop services
(1) Trade Assurance: Alibaba.com announced an upgrade to
offering access to financing and logistics resources in local markets
the Trade Assurance program, a free service designed to
- to meet the tailored needs of our members. We also have a
give businesses peace of mind when buying from overseas
dedicated team for key markets, including Thailand, so that we can
suppliers. With the upgrade, Thai buyers who make purchases
better listen to our customers and offer them the best services.
from qualified Alibaba.com suppliers will be entitled up to a

full refund of their deposits or order amounts in case suppliers
fail to meet the shipping times or product quality specified in
contracts. Also, coverage has been extended to post delivery,
Good customer experience is one key

differentiation point in the B2B industry
meaning Thai buyers are now entitled to full refunds in relevant

transactions if they spot quality problems after receiving
orders.
How does Alibaba.com see the ecommerce market

in Asia Pacific developing up to 2020?
(2) We just launched the Alibaba.com Merchant Deliver Scheme in
As Thailand is one of the ASEAN countries, lets talk more specific
May, 2015 aiming to provide members with logistics solutions
on ASEAN. ASEAN has a thriving consumer market and retailers in
and consultation services in cooperation with logistic partners
this region are more agile to accept new developments and have a
in various countries. We work with Singpost on this program
bigger potential for the future growth of the ecommerce industry.
in Thailand. Thai and Malaysian Alibaba.com members,
The geographic vicinity of China and ASEAN can also bring
including both Verified Members and Gold Suppliers, can
bilateral ecommerce cooperation with more tangible benefits, like
obtain preferential rates when choosing the Ezyparcel
logistic convenience.
services of SingPost.
86
Michael Mang
Head of International
Thailand is one of the key markets for

Alibaba.com in Asia
Business Development and

Marketing, APAC & MENA
Alibaba.com
On the back of this booming ecommerce B2B market, Alibaba.

com has been teaming up with different local partners to provide
About Michael Mang: Michael is Head of
the optimal one-stop services for SMEs aka TFL, including
International Business Development and
Trust (Trade Assurance), Financial (E-credit line program for SME
Marketing, APAC & MENA for Alibaba.com.
financing need) and Logistics (Merchant Delivery Scheme) while
Michael joined Alibaba.com in May 2009 as a
we gradually scale up our presence in the market.
business development manager in the buyer

service and development team, and has since
Thailand is one of the key markets for Alibaba.com in Asia. We currently
accumulated years of experience in B2B
have about 470,000 registered users in the Thailand channel on
ecommerce.
Alibaba.com. We have been on a healthy growth path over the

past years. We look forward to getting more buyers and sellers
About Alibaba.com: Alibaba.com is the leading
from Thailand to join our platform and supporting Thai SMEs to
platform for global wholesale trade serving
engage in the global trading scene.
millions of buyers and suppliers globally.

Through Alibaba.com, small businesses can sell
their products to companies across borders.
Alibaba.com sellers are typically manufacturers
and distributors based in China and other
manufacturing countries such as India,
Pakistan, the US and Thailand.
www.alibaba.com
87
Juniper Research
Online Retail: A Social Activity
Both social media and eRetail are increasingly mobile in nature.
but to act as a direct sales platform. In Q3 2014, both Facebook
Nearly 90% of Facebooks 1.5 billion monthly active users now
and Twitter soft launched buy buttons, which allow users to make
access the website via a mobile handset or tablet, while numerous
purchases directly from the company's mobile app in a seamless
other social websites (such as Snapchat, Twitter, Instagram,
couple-of-clicks transaction. In both cases, the embedded
WhatsApp) have mobile user bases in the hundreds of millions.
purchasing feature was delivered by the US start-up Stripe.
On the retail front, transactions on mobiles and tablets will
Facebooks service which went live in July 2015 initially offered
account for more than 35% of all US eRetail by value in 2015 (and
buy buttons in sponsored posts on the news feed, but now offers
25% across Western Europe), with worldwide eRetail expected to
the option within brand and retailer pages. It has been reported that
increase by 17% to more than USD 1.7 trillion.
Facebook is also developing a virtual assistant within Facebook

Messenger to help consumers look for and buy products.
Twitter ties up with Amazon

As part of its own move into the retail space, Twitter has acquired the
US startup CardSpring, a company that helps developers to create
apps which will accept credit/debit card payments. Twitter has also
partnered with Amazon, allowing consumers to link their accounts.
If a link to a product page then appears on a users Twitter timeline,
a reply using the hashtag #AmazonBasket or #AmazonCart adds
the item to their Amazon basket.
Some of the latest social networks, which have launched a buy
button, are Pinterest and Instagram. Pinterest confirmed in early
June, 2015 that one would be offered inside its app for iOS devices
by the end of the month; purchases can be made using either credit
cards or Apple Pay. The company confirmed that more than 2
From a retailer perspective, social media have become critical
million items would be available for purchase from the outset, with
platforms for reach and engagement. Most leading brands and
retail partners including Macy's, Nordstrom and Neiman Marcus.
retailers now have a significant presence on leading social media
88
websites, and offer options to share comments on purchased
Meanwhile, Instagram is introducing a range of buttons, including
products (and wish lists) via social applications. The scale of
Shop Now, Install Now and Sign Up. The Instagram buttons,
retailer social activity is reflected in their advertising spend on key
which use the Like2Buy platform designed by the marketing and
websites: in 2014, Facebooks mobile advertising revenues rose by
analytics company Curalate, open up a mini-browser within the
nearly 140% to around USD 7.5 billion. However, Facebook and its
Instagram app. If the user wishes to make a purchase, one more
peers are understandably keen to take their involvement in retail to
click takes him/her to the product page with the option to buy and
the next level.
proceed to checkout.
We are now seeing the first partnerships between brands and
According to some reports (until August 2015), Google is poised to
social media platforms, as the former seek to leverage the reach
introduce its own button onto mobile devices, with shoppers who
and engagement of the latter, not merely to advertise their product
click the button being directed to a Google product page.
Dr Windsor Holden
Head of Forecasting
& Consultancy
Juniper Research
A Facebook retail experience
It could be argued that Facebook et al are trying to have their
cake and eat it, in that they will be receiving one revenue stream
About Dr Windsor Holden: Dr Holden has
for advertising the product and another for selling the product.
written more than 70 strategic reports for Juniper
However, the social media companies would argue with some
Research on digital services and technologies,
justification that they are simply smoothing the path to purchase,
specialising in the field of digital commerce,
with a click-through effectively equating to a sale in some models.

In the case of Facebook, it means that the entire retail process
from product discovery to checkout can take place on its website,
including the recently published Mobile &
Online Purchases: Cards, Carrier Billing &

Third Party Payment Platforms 2015-2020.
or in its app.
About Juniper Research: Juniper Research

One potential implication of this approach is that it may in turn
specialises in identifying and appraising new
change the way in which brands design their own social media
high growth market sectors within the digital
pages, placing a greater emphasis on selling rather than just user
ecosystem. Market sizing and forecasting are
engagement. It is also potentially far more lucrative than, say,
the cornerstones of our offering, together with
relying on sponsored posts to boost traffic.
competitive analysis, strategic assessment and

business modelling. Juniper have unrivalled
experience and knowledge in the digital
Facebook versus Amazon

In the case of Facebook, this move also positions it as a direct
commerce and money sector.
competitor to Amazon. Given Twitters 140 character modus

operandi, the link through to Amazon makes perfect sense and
www.juniperresearch.com
benefits both parties; here, however, payments occur under the

social behemoths own roof and thereby means that it and Amazon
will be fighting for the same customers. Hence Amazons own
attempts to increase the scale of its touchpoints with consumers
(including original TV content) and achieving to differentiate itself
from other online retailers with the launch of same-day delivery.
Will consumers benefit? On the plus side, it will become even easier
to make that online purchase; on the potential debit side, the social
media giants will know even more about you and your shopping
habits. Big Data just got even bigger.
89
Limonetik
International development, as a real goal for e-merchants and marketplaces, is an essential strategy. Lets talk about
this challenge with Limonetik!
Where does Limonetik see itself in the ecommerce
In Asia, marketplaces normally already enjoy an enormous
payments market?
consumer base in their local market. In China, ecommerce covers
As a PaaS, Limonetik is dedicated to providing its customers with
over 300 million consumers. Sales of Alibaba are more than the
a unique one-stop payment technical solution. Our core value
total combined of Amazon and eBay. However, to enlarge the
proposition is to deliver services for all the players in the ecommerce
enterprise size and provide an international platform for Asian
value chain: international payment methods, PSPs, acquirers,
merchants, Asian marketplaces are trying to go abroad as well.
marketplaces and merchants.
Looking forward, Asian merchants will also open stores on

European marketplaces to accelerate sales and promote brands,
We connect payment methods to ecommerce websites directly
instead of running their own online stores and face unfamiliar
or through their PSPs, processing settlements and enriching the
challenges in foreign markets alone.
customer journey with payment innovations and personalised

payment pages. We also create bespoke payment methods and
Additionally, in Europe, the marketplaces of specific categories
checkout pages that can include targeted marketing campaigns.
will rapidly emerge. This type of marketplace normally targets
In the short term, we are trying to solve the complexity of cross-
only one single sector, like travelling, gaming, or 3c digital
border ecommerce. We are addressing billing, settlements,
products. They do not cover broad verticals, so the marketplace
maintaining the client's compliance with local payment rules and
can optimise their resources with higher efficiency and strengthen
regulations and facilitating financial flows and collection processes.
the value proposition. This way, they can develop a well-rounded
Through the use of new payment technology we create an enriched
understanding and expertise knowledge of one sector to deliver
users payment experience.
better performance with merchants who aim to meet the needs of a

niche of consumers.
The growth of online marketplaces over the last 10

years has been phenomenal. How is this market
So, predictably, shares of marketplace sales will be soaring,
developing and what trends do you see in Europe
continually acting like a sales promotion engine for merchants.
and Asia?
To achieve larger growth, more domestic merchants will opt
If a merchant wants to expand internationally, what
to go global. But, if one goes to foreign markets, complicated
should they take into account when selecting a
geographic localisation is an unavoidable challenge; they need
marketplace (either domestic or global)?
to understand consumers cultures and their payment habits,
Primarily, merchants should acquire all the information about
KYC and KYB localisation strategy, complexity of payment
the marketplace: products sold, regions targeted, consumers
flow, regulation compliance, etc. Thus, to open a store on the
demography, their international sales channels, supply chain
local or international marketplace, the choice of platform is an
management situation, in which sectors they have competency,
important decision for the merchants blueprint for cross-border
the entire payment flow, payment methods they integrated with,
transactions. For example, we have noticed that more and more
payment processing between marketplaces, acquirers and
European retailers, especially fashion and luxury brands, open
merchants, their delivery range, promotional tools like loyalty
storefronts on Asian marketplaces, instead of creating their own
programs, gift cards and bonus coupons.
online stores in Asia.
90
To achieve international growth,

merchants should consider
marketplaces capability to be
compliant and keep up with local
online consumers buying habits
Christophe Bourbier
Chairman & Co-founder
Limonetik
They should also consider the language versions of the websites; in a
About Christophe Bourbier: After he obtained
single local language, in English to cover English-speaking countries,
a Business and International Relations Masters
or multilingual, which is significant for the markets they cover.
from the University of San Diego, California,

Christophe dived into entrepreneurship creating
Meanwhile, due to lack of knowledge on complicated local financial
diverse companies in IT and Communications
regulations, merchants should consider if the marketplace platforms
and worked as consultant for Capgemini.
have the capability to digest all these complexities and support
He finally co-founded Limonetik with the goal of
them to meet all the compliance and regulatory rules. An eligible
simplifying online payments.
marketplace should help merchants handle all the issues and

complete billing, settlements and collecting efficiently. In Europe,
About Limonetik: As an online enriched
one is expected to obey the rules, to ensure fraud prevention,
payment platform (PaaS), Limonetik provides a
to provide security of the payment process, follow risk control
unique one stop shopping payment solution
management, all in accordance with European Banking Authorities
that connect international payment methods to
and to work against money laundering.
marketplaces and merchants directly or through

their PSPs. Limonetik delivers advanced
Additionally, the marketplaces support for localisation is also
services to collect and manage settlements to
indispensable and should be taken into consideration, such as their
reconciliation step. Limonetik, the guarantee to
multi-platform promotion, localised marketing campaign and digital
be compliant with regulations!
strategy. Because all of these will be important for the merchants to

create brand awareness in foreign markets, these are essential to
www.limonetik.com
implement in their global strategy.
What are the compliance challenges merchants and

marketplaces face when selling internationally?
As previously mentioned, both merchants and marketplaces need
to face unfamiliar markets when trading internationally: local
rules, regulations, consumption habits. These are all noticeable
challenges for them. To enter international markets and run their
foreign businesses, all of these new factors have substantial
impacts on their whole strategy formulation and implementation,
including internal organisation, payment flow processing, KYC,
KYB, CRM, etc., which are all indispensable to provide a better
online shopping experience for the local shoppers.
91
The Paypers
The Age of A(ces) in Ecommerce: Alibaba, Amazons Strategies for Global
Dominance
In the ecommerce marketplaces space, Amazon and Alibaba are
renamed Amazon.cn, acting as a Chinese version of Amazons
two forces to be reckoned with. Both ecommerce giants have,
platform. In March 2015, Amazon opened an online storefront
beyond any shadow of a doubt, changed the way ecommerce
on Alibaba's popular Tmall marketplace to gain access to a
business is undergone globally. Moreover, they have realized that
huge customer base in the local market. Against this backdrop,
to spark success, an entire mechanism had to be developed,
Amazon's strategy to use the Alibaba Tmall platform is illustrative
from manufacturing, advertising, gaining customers, setting the
of how difficult it is to tap into China by ones own forces.
payments system and, finally, to delivery.
Thus, partnerships with local players prove essential to successful

operation across borders.
Inevitably, in the attempt to pursue such endeavors and gain

foothold in the market, the US colossus and Chinese behemoth
After failing to gain significant market share in China, Amazon
have become fierce competitors. Their Q2 2015 financial results
has decided to direct its overseas growth ambitions on India,
stand as proof for their battle for supremacy : USD 240 billion
while Alibaba is looking to Russia and Latin America to expand.
(Amazon) vs USD 180 billion (Alibaba) in valuation. Following
However, their paths will inevitably cross again on either US or
Alibaba`s announcement in 2014 on its largest global IPO ever, as
Chinese soil.
well as its plans to strongly expand in the US and Europe after its
US listing, the Amazon-Alibaba rivalry has reached a new level of
Logistics and speed: a crucial stratagem to success
intensity, where every move matters.
Digital commerce has been through a paradigm shift whereby

customers have taken the reins of how trade is undergone,
In spite of many differences in their business model, there are also
by demanding almost instant delivery of packages, among
strategy-related similarities between Alibaba and Amazon that are
others. According to HRC Advisorys 2015 Supply Chain
too significant to ignore. In the present article, we try to highlight
Transformation study, consumers are very interested in near
only some aspects of these companies` strategic (and mirrored)
instant deliveries of products ordered online, and this consumer
approach, having international expansion and logistics as key focus.
habit is challenging retailers as they are not prepared for very

fast parcel deliveries. Both companies have experimented with
Entering the rival`s market and the inherent challenges
delivery drones, among other approaches. In July, 2014, Amazon
Alibaba dominates ecommerce in China, as Amazon does in the
requested the US Federal Aviation Administration to test drones
US. Given the inherent huge business opportunities, cross-border
but regulators were unprepared for the idea and restricted
ecommerce has become a battlefield for the two giants. Just like
permission. The US company turned to Canada, in March 2015,
all retailers, Amazon and Alibaba face real challenges abroad,
to develop its testing, as the domestic regulatory atmosphere
including language barriers, cultural differences, logistics, delivery,
was corrosive and, after a long time frame, the FAA granted
payments and many other aspects. However, such hurdles have
permission for the project to continue under some technical
not discouraged Alibaba in its attempt to try and grow presence in
limits. Alibaba borrowed the delivery drones idea from its rival
the US, or for Amazon to expand operations in China.
and turned it into practice in February, 2015, via its domestic

marketplace, Taobao.
In June 2014, Alibaba launched its first foray into US-focused

ecommerce via 11 Main, an online marketplace for US goods.
However, it seems that the initiative was not successful with
merchants, as Alibaba has already sold its US website to social
shopping marketplace OpenSky. In 2004, Amazon acquired local
Chinese shopping website Joyo.com. In 2007 the website was
92
Adriana Screpnic
Editor-in-Chief
The Paypers
In parallel with delivery drones, both companies have also

developed logistics hubs, either via partnerships or by their own,
in various parts of the world in order to cut time and offer their
Sebastian Lupu
customers faster delivery methods. For example, Amazon has
News Editor
The Paypers
made huge investments in building out a network of warehouses

in China, beginning with the Shanghai fulfillment centre in 2014 to
ensure fast deliveries to customers.
On the other hand, Alibaba (via its logistics arm Cainiao) has
struck a deal with US Post Office in order to boost cross-border
About Adriana Screpnic: As Editor-in-Chief
ecommerce between China and US. Besides striking logistics deals
at The Paypers, Adriana manages the editorial
and building fulfillment centers, Amazon has also developed a
team, being also involved in large-scale,
farm-to-door delivery method, which also takes into consideration
industry-specific research and content creation
consumer psychological impact. Amazon, in line with other global
projects.
retailers like eBays eBay+ release in Germany , has developed

Amazon Prime shipping program, whereby it promises a number
About Sebastian Lupu: At The Paypers,
of advantages, such as same-day or two day deliveries on millions
Sebastian writes news items and research
of parcels to customers on paid subscriptions. Alibaba, in turn, is
articles on the payments industry and
heavily investing in logistics companies across China to fuel
ecommerce. Sebastian holds a PhD in Philology.
its ambitions and secure its dominant market share in China, if not
About The Paypers: The Paypers is the leading
in the world.
independent source of news and analysis for

Conclusion
professionals in the global payment community.
The US titan will surely seek to expand ecommerce operations in
Our products are created by payment experts and
new markets and secure its coveted position, whereas Alibaba
have a special focus on all major developments
will be on the lookout for new business opportunities to reclaim
in payments - related industries including online/
its stolen position as the first global market leader. Their agenda
mobile payment, ecommerce, e-invoicing, online
will be around constant business growth by paying attention to
fraud prevention innovations and the most
consumers needs and how their respective needs may be met, a
significant trends in the e-identity space.
crucial aspect of the global digital agenda now and in the future.
www.thepaypers.com
93
SELLING
GOODS IN
THE DIGITAL
WORLD
cleverbridge
Do Subscriptions Make Sense for Your Business?
Subscription billing has been around for as long as newspapers
5. Increased focus on customer relationships
and magazines. The idea of paying a fixed or variable amount on a
Customer relationships are critical to any business. However, the
regular basis for a product or service has definitely carried over to
subscription model forces companies to change their mentality
the digital world. Companies are abandoning the notion of simple
about customers and raises the importance of the relationship.
one-time charges for their product as they realize these sales are no
Unlike transactional model companies where, often, only the sales
longer enough to assure profitable growth from the digital channel.
and marketing teams track customer relationships, in a subscription

business model, the core business metrics are fundamentally
The subscription business model has gone mainstream because
about those relationships. Churn, for example, is one of the most
it offers a predictable, recurring revenue stream. But is it the best
important metrics to a subscription business. Since the metrics
option for your company and customers? Lets explore the pros
drive business, customer relationships in a subscription business
and cons of the subscription model.
are core to the whole organisation, from top to bottom, and not just
select departments.
Pros of subscriptions:
1. Recurring stream of revenue
6. Reduced CapEx for B2B customers
By definition, subscription models offer continuous and recurring
Many businesses are cautious about making capital expenses for
streams of revenue from each subscriber, without needing to
items such as enterprise software. However, subscriptions allow
lead them through a checkout process again. Data from Custora
customers to shift software spending from capital to operating
suggests that Customer Lifetime Value (CLV) of repeat customers
budgets. Reducing CapEx costs looks good on a company's
in commerce businesses is over six times that of one-time buyers.
balance sheet and leaves more cash on the books to deal with
potential or unknown problems. Additionally, B2B customers
2. Convenience for the customer
typically have the right to adjust their subscriptions to reflect a lower
On service subscription, customers get the convenience of a regular
or higher headcount or changes in application requirements. Not
supply of whatever product or service you are selling. Instead of
being locked into a fixed situation is something many businesses
having to remember to come back to your website once a month,
prefer.
the customer gets the products automatically.
Cons of subscriptions:
3. Improved business planning
1. Possible customer concerns
The subscription commerce model enables more definitive business
A common fear among digital vendors is that many customers
planning. It enables you to plan the customer acquisition costs,
hesitate to sign contracts where they are re-billed on a pre-defined
determine the lifetime value of a customer and the churn rate,
schedule. These fears are certainly valid, making it even more
providing key data for improved planning and business expansion.
important to understand the different options you have when

selling products on a subscription basis.
4. More customer data
96
Because the relationship is ongoing, you have the opportunity to
2. Complexities of managing subscriptions
learn more about your buyers behaviors. Usage data is the best
Subscriptions success entails much more than merely switching
lens through which to increase customer lifetime value. Knowing
from one-time to recurring billing. Subscription management can be
what marketing promotions to run, what cross-selling strategies to
quite complex. "As companies grow their subscription businesses,
use and whom to target with rate plans changes are all powerful
they often find that existing ERP and billing systems are not well
results of harnessing usage data.
equipped to handle the real-time tracking of new success metrics,
Craig Vodnik
Co-founder
cleverbridge
including ARPU (average revenue per user), churn, M/ARR (monthly

and annual recurring revenue), recurring profit margin and customer
lifetime value," said Amy Konary, research vice president, IDC.
About Craig Vodnik: Craig Vodnik is Cofounder of cleverbridge, a global full-service
This can get even more complex with B2B subscriptions because
ecommerce provider for over 300 international
traditional systems typically cannot handle the management of
software and subscription companies including
new processes, like single orders which create multiple invoices,
Avira, Corel, Dell, Malwarebytes and Parallels.
an invoice that generates multiple revenue recognition processes,
He holds a BA in Nuclear Engineering from the
multiple orders on one invoice and the combination of all orders to
University of Illinois, Champaign-Urbana.
create a renewal invoice.
About cleverbridge: cleverbridge is a leader in

3. Doesnt always transfer to global success
ecommerce technology, services and expertise
While subscriptions have certainly exploded in countries like US,
for global software and subscription companies
this isnt always the case globally, where a subscription product
that serve consumers and businesses.
has the potential to become a big hassle for customers using
For over 300 clients including Avira, Corel,
offline payment methods. For example, in Germany, wire transfer
Dell, Malwarebytes and Parallels cleverbridge
is the most important local payment method and, in Japan, the
is a true extension of their teams, understanding
Konbini payment method, which requires cash on delivery, is a
each clients billing models, markets, channels
popular alternative. Both payment methods lean toward an up-front
and specific ecommerce requirements.
payment model. After all, how many US consumers would consider

going to a Western Union location every month to pay their monthly
www.cleverbridge.com
Netflix subscription?
However, if you are planning to offer offline payment methods for
your subscription/SaaS products, here are some considerations
and tips to increase conversions and reduce churn.

In their eagerness to earn more revenue and keep up with trends
in global ecommerce, too many businesses want to dive headfirst
into the subscription commerce pool. Before you take the plunge,
consider how you're going to build a subscription service and how
your customers will interact with it. Make sure you're building it to
meet the needs and interests of your target market. Ask yourself:
"What are the key customer benefits? What customer pain points
does it solve? Will customers engage with the product?"
97
Mark Gerban
Proliferation of In-App Payments in Ecommerce
In-app payments have become an essential part of the mobile
This comes at the disadvantage of having to create a full-checkout
and cross-channel market ecosystem, making the sale of goods
flow that customers need to familiarise themselves with, but being
possible anytime, anyplace, anywhere. Not only do these payments
that Apple allows their biometric security layer to be applied with
lead users towards a more convenient way of payment, but they
other applications, it could make for better checkout experience
also shorten the payment process, heighten security and can
than the traditional Apple or Google payment flow.
potentially bring in a whole new generation of loyalty programs and

user targeted buying campaigns.
Furthermore, merchant-driven in-app payments allow for a

cross-channel strategy to take place, where merchants can
Starting with the digital goods space, in-app payments, such as
track purchasing behaviour via a fully-added mobile or desktop
those offered with Apple and Google, are mandatory for placement
dimension, connecting both commerce platforms together in one
of products in the iTunes and Google Play stores. This has been
account. This advantage enables individual customer-targeting on
the norm in the digital goods space for the past few years, where
all systems, where multiple user accounts on different devices are
both Apple and Google have used the digital goods industry to
no longer necessary, and payment credentials could be transferred
fine-tune their strategies for tangible and offline NFC payments.
from one system to another with little effort from the customer end.
Digital goods essentially come in all shapes and sizes including

music, games and other such downloadable or upgradable
Perhaps, one of the most interesting applications for in-app
software content.
payments is the role they can play for the future requirements of
the SecuRe Pay standards, which pushes for higher forms of
But the key to making these types of products monetise so
authentication for online purchases. Generally, if consumers use a
easily is the simplified payment flow that in-app purchases have
unique identifier such as their mobile device, linked with a biometric
to offer; customers are not presented with the complexities of
and their tokenized payment credentials, this would reach a level
entering their credit card details repeatedly, or thrown out of
of security that is much higher than user name and password
their gaming experience, simply to make a payment. This affects
standards. In-app payments are great for security, but also have
conversion and overall customer satisfaction, and is a critical point
some areas to improve on.
in digital business flow, since this is when money is transferred.

Instead, in-app payments allow customers to enjoy the shopping
For example, as we saw with Apple Pay during its first few months,
experience by offering a quick checkout experience that is arguably
where they had around 600 basis points reported for POS purchases.
more secure with the addition of Apples biometric security and
It was not entirely the fault of Apple, as the issuing banks were called
tokenization layer, which converts much better than traditional
and enabled stolen credit cards on hackers devices, but it does
online payment types.
seem as though in-app and mobile payments will have a clear role
to play within the scope of online security.
Tangible goods have a slightly different advantage for in-app

payments, where it is not mandatory to use Apple or Googles
payment systems. This decision is likely due to the risk profile of
goods on the tangible market, where tangible goods companies
can better manage their own risk, while the cost of payment can
be negotiated to much lower terms than Apple or Googles offering.
98
Mark Gerban
Payments Industry Expert
Conclusively, there are still some areas where in-app payments

need to improve their current systems. Apple and Google are
currently setup for general use in a mobile environment, which
About Mark Gerban: Mark is a payments
means that their checkout process is optimised on the mobile side,
industry expert with management experience in
but not necessarily for a desktop environment.
the international payment space. Having worked

for international companies such as InnoGames
Apple and Google also have the issue that, while a user can use
GmbH and gamigo AG, he managed a payment
their payment details with any application on a phone and apply
portfolio of over 50+ international payment
this with NFC and POS purchases, they are having difficulty in
methods, serving over 140 million users. In early
gaining traction with online merchants integrating their solutions on
2014, he was elected to the European Advisory
traditional ecommerce websites. Apple Pay does have an API that
Board of the Merchant Risk Council, and was a
is available, but this also complicates a number of things, including
Board Member of the Gamers Safety Alliance.
the merchant checkout experience, so these are some obstacles
In 2014, Mark co-founded TokenID, a start-up
that will need to be overcome in order to move forward. And, should
in the tokenization security space with patent-
each be open to the idea, alternative payments and funding from,
pending technology, and in 2011 he co-founded
perhaps, bitcoin wallets could be a trend for the future, but only
the Plug-In Network in Europe. He also has a
time will tell.
patent pending in the biometric payment space.
99
CROSS-BORDER ECOMMERCE
RESEARCH SECTION
THE COUNTRY REPORTS CAN BE DOWNLOADED FOR FREE VIA THE PAYPERS
The Paypers, in close collaboration with the Cross-Border Ecommerce Community (CBEC), a strategic
initiative started by Payvision, PAY.ON, ACI Worldwide and WorldItLawyers has launched a new section
called Cross-border Ecommerce Research.
Through The Paypers, the CBEC enables Merchants, Payment Service Providers, ISOs and Acquiring
Banks to access country and regional ecommerce facts, figures and insights - valuable content about
mature and developing markets that can support strategic decision-making. The obstacles which hinder
cross-border expansion are explored, and the payment methods, ecommerce law, online fraud and risk
issues that affect individual countries are addressed.
The newly introduced section currently offers Cross-border ecommerce Reports & Infographics for
major countries from all over the world. Research consists of country-specific Ecommerce facts & figures,
mature and emerging markets, preferred payment methods, payment service providers, risk and fraud as
well as ecommerce legislation & regulation.
The section will be continuously updated with all the major and emerging ecommerce countries.
Cross-border ecommerce is a topic of interest to merchants across the globe. There is

much to play for, but the challenges are also significant and this initiative will help merchants
to gain a better understanding of the countries and payment environments into which they
are seeking to expand. The contributing companies bring complementary experience to the
table and the initial outputs combine a wealth of data and insight that isnt available in one
place anywhere else. I salute the companies involved in bringing this together
Johannes Ditterich, CEO Limango - Germany's leading web merchant, and part of Otto Group
THE AFRICAN
QUEST FOR A
COMPETITIVE
ECOMMERCE
MARKET
Africa Internet Group

The Challenges Facing Ecommerce Companies in Sub-Saharan Africa
We embrace this complexity because its representative of
Different markets require different solutions
the way people consume. The key is to adapt, not impose,
Adapting to new consumer trends is a daily challenge. Africa Internet
a pre-established model.
Group (AIG) swiftly arrived at the following conclusions: first, that

people in Africa have the same, if not greater, expectations of
Africa has been a recent entrant onto the radar of ecommerce
service as customers in the US or Europe. Second, that when
professionals. There has been a shift in western perception of
African consumers come online, they do so in all channels
the continent - companies no longer write it off as a land that is
simultaneously. Finally, because of the lack of trust, the majority
underdeveloped, lacking infrastructure and unworthy of investigation,
of business in Africa is still cash-on-delivery based. Furthermore,
but instead, have begun to understand the vibrant and exciting
the web penetration is on the rise in these regions, but still low
nature of the nation, and to realise the potential of the rich
and a limited home postal delivery network hampers ecommerce
economic growth, booming demand for consumer goods, growing
penetration.
middle class and rising mobile and internet penetration rates for
ecommerce. While in the US there are roughly 400 consumers
Trust must be earned
per offline retail outlet, in Africa there are about 60,000. Smart
A fundamental issue faced by ecommerce companies in Sub-
and easy-to-use ecommerce solutions are taking on the challenge
Saharan Africa is one of trust. Even in markets accustomed to
of answering these new consumer needs easily and efficiently.
ecommerce, companies must work to assure consumers that their
Developing economies are expected to account for nearly 40%
payments are safe. Unsurprisingly, there is a still greater wariness
of global B2C ecommerce by 2018, with the Asia Pacific region
in emerging markets. One way to counter this is to provide some
number.1, while the B2C share of developed countries will fall to
human interface, at the ordering, waiting, or reception stage of
about 60% in 2018, from more than 70% in 2013. Why is the African
ecommerce. Cash-on-delivery payments have been particularly
ecommerce sector taking off that slowly?
effective as they allow both product-testing to consumers

satisfaction and easy returns. Care must also be considered to
make consumers feel as safe as possible online, by displaying
prices in correct local currencies, using local languages on
ecommerce websites and build proximity confirming order and
delivery by phone.
Mobile payment: the new future

Closely linked to gaining consumers trust is the provision of
payment methods that consumers feel comfortable with. There has
historically been limited access to financial services in Sub-Saharan
Africa. Although the increasing popularity of mobile-enabled
e-money is beginning to change this, physical payment methods,
such as registering a code at a local store to make a payment or
Figure 1: Global ecommerce sales and online buyer penetration in
2013, eMarketer, 2013
cash-on-delivery options, are crucial. Ecommerce companies need

therefore to be open to a range of payment forms and flexible
to changes that take place as Sub-Saharan Africa becomes
increasingly online.
102
Africa
Internet
Group
Sacha Poignonnec
co-CEO
Africa Internet Group
Bringing the online experience to the people

Though undoubtedly on the rise, there is still much that can be
done by ecommerce companies to increase their client pool by
About Sacha Poignonnec: Sacha has
accelerating internet access. One way of doing this is to use
overseen the successful launch and expansion
mobile devices as a portal to the internet. Jumia, for example, on
of 10 companies in over 30 African countries.
noticing that 107 million Nigerians were not able to access the
Previously, he worked at accounting company
internet, launched the Direct Sales initiative, which consists of a
Arthur Anderson and his own financial advisory.
team of 25,000 agents visiting more remote villages with tablet
Sacha holds a Master's degree from EDHEC
devices, enabling people to order online. Promoting affordable
Business School.
mobile sales and even sponsoring infrastructure developments

are further steps that ecommerce companies can take to increase
About Africa Internet Group: AIG, Africas
their possible reach.
leading internet platform, promotes sustainable

online growth that benefits both businesses and
Delivery across the continent is a logistical issue
consumers. The group provides easy-to-use
Maybe, the greatest challenge for ecommerce companies delivering
services and smart solutions across the African
goods is that of infrastructure and logistics. Africa is larger than
internet sector. AIG is invested in furthering
the US, Europe, China and India combined, and has varying levels
regional entrepreneurship and innovation
of infrastructure. Even with existing delivery providers, the level
through a passion for Africa, its culture and its
of customer expectation can barely be met. Many destinations
people.
are so remote that they can only be reached with great difficulty.
As Africa Internet Group (AIG) oversees an ecosystem of 10
www.africainternetgroup.com
companies in over 30 countries, this has been a regular problem.

In order to overcome the hurdle, AIG has set up AIG Express, its
own logistics company. AIG-Express, a delivery platform for online
vendors, enables international brands to enter Africa the safer way:
via online retail.
If ecommerce companies successfully address the issues outlined
in this article, they will gain access to a market with great
potential. The creativity, logistical thinking and flexibility required
to make ecommerce ventures in Sub-Saharan Africa successful
simultaneously make it a deeply rewarding and stimulating area in
which to proceed.
103
Visa Inc.
Visa has a clear strategy to proliferate electronic payments and financial inclusion in Africa. The interview sheds light
on some aspects of this strategy and direction
Africa is currently undergoing a digital payments
We work with all stakeholders to provide insights, expertise and
transformation, mainly because markets like Nigeria
assistance wherever possible. We work with our clients, banks,
and South Africa support ecommerce via mobile-
in all markets to avail the products and services needed to
based online and offline payments. Why do you think
ecommerce and we do help in standardising practices as per the
that the mobile channel is the most convenient for
guidelines governing our practices. Ecommerce is transforming
the African consumer?
and Visa will continue to bring together innovative leaders from
The level and percentage of mobile penetration in Africa and the
across industries, such as device manufacturers, financial
Middle East is one of the highest in the world, a perfect conduit
institutions, merchants or developers in payments and commerce
for financial inclusion. Based on the Mobile Economy report
ecosystem, to deliver the best new payment experiences.
2013 by GSMA , emerging markets are the major engines of

mobile connection and subscriber growth channels. In particular,
What are the main impediments related to cross-
Asia Pacific will add nearly half of all new connections until 2017
border ecommerce development which need to
(1.4 billion) and will remain at just under 50% of both global
be addressed by market players like PSPs and
connections and subscribers. Latin America and Africa, combined,
merchants, as well as MNOs?
will add the next 20%, representing 595 million new connections.
Collaboration between Visa, banks, MNOs and merchants is key

to deliver the most successful user/cardholder experience. On one
Mobile represents a new horizon for payments and the advent of
hand, collaboration between Visa and the banks is our day-to-day
digital technologies created entirely new categories of commerce,
business in order to avail innovative products and services to our
such as ecommerce and mobile commerce, and has also created
cardholders.
new ways to make purchases in the physical world, such as

tapping an NFC-enabled phone or wearable, scanning a QR code
MNOs are also considered a key partner given their outreach
or simply clicking a button. As these and other new technologies
especially in geographies with higher mobile penetration percentages
are adopted by consumers, Visa will continue to innovate in
amongst unbanked population. We believe that bridging the
payments so everyone has access to simple, convenient and safe
stakeholders through VisaNet can yield significant results in terms
ways to pay. Whether in a store, online or using a mobile phone,
of access, insights and security. This collaboration should not
Visa will continue to be the engine of commerce, making it as easy
be limited to products and services, but should also extend to
to pay on any device as it is to swipe a card.
awareness. In all geographies, we work with our partners to increase

the level of awareness of cardholders and unbanked population
In terms of cross-border ecommerce, what are the main
through activities designed to highlight the benefits of electronic
impediments which need to be addressed by local
payments, ecommerce and innovations in the payment sphere.
governments say, for example, in countries like Algeria,

a big market with potential in the North of Africa?
Visa provides payment options that help merchants build their
Conceptually, cross-border ecommerce requires legislations,
businesses. By accepting Visa, merchants of all types and sizes
infrastructure in terms of internet penetration rate, adoption of new
benefit from guaranteed payment, fast transactions, protection from
technologies, either by banks or by consumers, certain degree of
theft and fraud, greater customer satisfaction and the potential for
maturity on the merchant side and education to the cardholder on
increased sales.
the benefits and possibilities.
104
Mohamed Touhami
El Ouazzani
Collaboration between Visa, banks,

MNOs and merchants is key to deliver
the most successful user/cardholder
experience
General Manager
for Morocco and
Francophone Africa
Visa Inc.
Visa works constantly to understand merchants evolving needs
About Mohamed Touhami El Ouazzani: As
and to deliver solutions that help them grow and better serve their
General Manager for Morocco and Francophone
customers.
Africa at Visa, El Ouazzani is responsible for

the growth and development of the companys
In your opinion, which are the most promising markets
business in these markets and for pioneering
(hotspots) for cross-border ecommerce development
new opportunities in Francophone Africa.
in the Francophone Africa?

Africa represents great potential. When you look at Senegal, DRC,
About Visa Inc.: Visa is a global payments
Ivory Coast and Cameroon, you find countries that are picking up
technology company that connects consumers,
in terms of adoption and awareness in addition to efforts to create
businesses, financial institutions and governments
communities that are aware of the benefits of ecommerce.
in more than 200 countries and territories,

enabling them to use electronic payments
Visa is working closely with financial institutions in those markets
instead of cash and cheques. Visa provides
and has launched a marketing campaign to educate cardholders
processing services to our financial institution
and the entire population within these geographies on the benefits
clients through VisaNet.
of electronic payments and ecommerce. As a global payments

technology company, we see one of the most valuable contributions
www.usa.visa.com
we can make as helping to bring more people into the formal financial
system. We do so by creating pathways to financial inclusion for
the financially underserved via our products, services, technology
and payments expertise, financial literacy tools and resources and
our strategic partnerships.
For the second part of the interview please click here.
105
hellofood Africa
Mobile Internet Is the Future of the African Ecommerce Market
Africa is a promising environment for ecommerce companies,
Equally, adaptations made by electronics and phone producers
as recent years have demonstrated. One development has had
to the particular needs of African mobile consumers, such as
a particularly big impact: mobile internet. Emerging markets,
Samsungs phone with multiple SIM card openings to enable
including many African countries, are experiencing an astronomical
users to always have the best connection, make the mobile
rise in mobile phone usage (mobile internet). This promises a bright
phone market increasingly attractive to African consumers.
future for ecommerce and mobile payment methods.
These trends have convinced young Africans to have their first

online experience on a mobile device rather than a computer.
An increasingly young population
This has a great impact on the African ecommerce market, as it
Africas population is one of the fastest growing in the world.
lends a great importance to the opportunities mobile internet can
Today, the total population is 1.13 billion, expected to almost
provide.
double by 2050, leading to an increasingly young population.

According to Unicef, half of the overall population of Africa will be
Mobile payment methods provide opportunities for
under 18 years old within the next 35 years.
newly created businesses

A notable impact, triggered by increased mobile phone penetration
on ecommerce, is mobile payment. The mobile device has long been
more than the portable telephone it once was, and has developed
into an all-rounder, allowing users to call, text, take photos and
videos and, since the introduction of internet smartphones, have
access to financial services. This is of particular value in Africa.
According to the Development Research Group of the World Bank,
only 24% of adults in Sub-Saharan Africa and 18% of adults in the
Middle East and North Africa have actual bank accounts, due not to
a lack of demand, but to a lack of infrastructure and access. Mobile
Figure 1: Mobile internet users in Africa reflect the very young

population, OnDevice, 2014.
phones are changing this situation: anyone with an internet phone

can access a bank account. 52% of the worlds mobile money
services can already be found in Sub-Saharan Africa, with mobile-
Corresponding to the rapid growth and rejuvenation of the
money accounts outnumbering actual bank accounts in several
population, Africa is experiencing a prompt increase in mobile
African countries, including Tanzania and Uganda (GSMA
phone usage. Again, the numbers are exploding. In June 2013, there
were around 650 million mobile phone users across the continent.
Mobile Money for the Unbanked 2013). Access to mobile banking
That is more than in the US or in Europe. Solely in the Sub-Saharan
is made not only by banks, but also by many startups focusing on
region, mobile phone penetration is projected to rise from 52% in
mobile-enabled e-payment. In the Ivory Coast alone, 66.3% of the
2012 to approximately 79% in 2020. According to a TA Telecoms
population has access to digital mobile money service providers
report, penetration has already passed 80% in Africa. This can be
while, in Africa, the number of active mobile-money customers has
attributed to both the growing tech-savvys high demand for mobile
increased by more than 240% in one year, reaching approximately
phones and to the steadily decreasing prices of mobile phones,
4.6 million in 2014. Kenya is leading this change, with a mobile
especially smartphones, making them affordable for the masses.
payment penetration of 58%.The potential of this development has

naturally long been recognised by telecommunication companies
and banks.
106
Joe Falter
CEO
hellofood Africa
SENEGAL
The most notable reaction to it is M-Pesa, which was launched

by mobile communications providers Safaricom and Vodacom in
Kenya in 2007. Since then, it has become the most widespread
About Joe Falter: Prior to founding hellofood
mobile payment provider in emerging markets and has expanded
Africa, Joe has led startups in food retail and
to other countries and even continents.
ecommerce and worked as management

consultant for McKinsey in London. He holds a
New payment methods still face a general lack of trust
degree in Government and Economics from the
Despite, or possibly, because of, this quick dissemination of
London School of Economics.
mobile payment methods, Africans in general are still skeptical

about this new development. The reason for this is a general
About hellofood Africa: hellofood enables
reluctance to change, and people are not comfortable with leaving
restaurants in 11 countries to become visible
the cash culture they are used to. Moreover, the mobile payment
in the online and mobile world. For consumers,
infrastructure remains problematic in most countries. Although
hellofood offer the convenience to order food
companies provide all standard security measures as PIN-secured
online and the widest gastronomic range, from
text messages, most people do not trust the process due to the
which they can choose their favorite meal on
aforementioned reasons. Interestingly, distrust is focused on
the web or via the app.
mobile payment service providers rather than external hackers

stealing the transferred money. This might result from the general
www.hellofood.com
lack of trust in big companies and corruption issues.

There are still obstacles to overcome for ecommerce companies,
most notably in terms of keeping mobile payment secure and
gaining the populations trust in its reliability. However, as the
current numbers and growth rates show that mobile internet is at
the center of African ecommerce already, and will become of even
greater in importance in the future.
107
Jumia
What Does It Take to Bring Ecommerce to the Next Level in Sub-Saharan
Africa?
While countries like South Africa, Nigeria and Kenya profit
Already, companies such as Jumia, together with Africa Internet
from vibrant economies, infrastructure still remains a barrier in
Group, are developing their own distribution methods, called AIG-
e-commerce. This combined with the sheer size of the continent
Express, to work with the lack of infrastructure in the Sub-Saharan
means that many companies struggle to reach remote delivery
countries.
locations.
A booming mobile scene

On the other hand, in most of Africa, increasing internet access
Ecommerce businesses rely on the internet: an awareness of
is changing the commercial landscape. McKinseys iGDP ranking
the limitations that exist in this space is crucial. While the rate of
identifies the internets contribution to the overall GDP; Africas
desktop usage is slowly climbing, the strongest growth is seen
iGDP is expected to rise from 1.1 percent to at least 5 to 6 percent
in the mobile space, and given that the local infrastructure can
within the next ten years. This will place Africa among todays
be extremely unreliable and at times unavailable, the stability
leading iGDP countries, along with the United Kingdom and
and accessibility of mobile networks means that the number of
Sweden. Driving this development are urban areas, where internet-
subscribers will only continue to grow. As a result, Jumia, for
capable devices are already available to half of the population.
example, has put a specific focus on extending their mobile

capabilities, with their entire product catalogue currently available
Some retailers are already adapting to the growing mobile
to smartphone users, via mobile website or app. While growth of
ecommerce trend by using apps such as WhatsApp to improve
the traditional online infrastructure will continue, the key to this
customer service. It is predicted that 10 percent of all retail activity
market is the mobile consumer.
in Africa will be conducted online by 2025, and mobile shopping is

already the norm. Companies looking to bring ecommerce to the
next level in Africa need to consider Africas increasingly young,
tech-savvy, brand conscious and mobile-using middle class in
their approach to the continent.
Investment in logistics and infrastructure is

fundamental
Africa's ecosystem is a living and continuously developing
organism. Every company, above all in the ecommerce field,
must embrace the complexity of its markets. The primary aim is
to support the creation and expansion of new services to meet
the evolving needs of consumers and make their day-to-day lives
easier, establishing processes that fuel economic growth.
The standard of ecommerce in Africa is even higher than that
Figure 1: Traffic Statistics Jumia Cte dIvoire, in 2013, Jumia
observed in Europe or the US. Delivery, logistics and customer

service must be productive and efficient from the moment
Build trust with your customer
a company launches. Ecommerce companies must develop
Developing a successful ecommerce company requires
effective, consistent and rapid delivery services, and be as user-
consideration on a broader scale than simply logistics. For any
friendly as possible, adapting to challenges as they arise.
business to establish itself, repeat custom is extremely important.

Companies must provide easy returns, easy-to-make repeat
108
Jrmy Doutt
MD
Jumia
purchases, and an easy-to-use website. Beyond this, rewards

for repeat custom and good response to customer feedback can
About Jrmy Doutt: The author worked at
attract customers back.
McKinsey and UBS Investment Bank before

Alternative payment methods are on the rise
joining Jumia in 2012. He holds a Bachelor in
Preferred payment methods vary across Sub-Saharan Africa, and
Business from ESSEC Paris and a Master of
the landscape is changing fast; in such an environment, what
Business Administration from Harvard Business
is really on the rise is electronic payment. Only two months after
School.
Absa - South Africas largest retail bank - added a mobile app to

money transfer service CashSend in April 2013, the transaction
About Jumia: Jumia aims to facilitate the lives
value had reached the services total transaction value for the
of customers and the communities they belong
year before; MasterCard last year in a pilot scheme intended to be
to. The company is active in 12 countries,
further expanded distributed 13 million identity cards with electronic
developing into the continents leading online
payment capacity to Nigerian citizens, again increasing access
shopping destination. The companys easy-
to electronic payment; and population access to banking and
to-use service consists of an open business-
microfinance in the Ivory Coast has increased from 21.8% at the
to-consumer platform which allows retailers
end of 2013 to approximately 66.3% due to digital e-money players.
to reach Africas vast and growing consumer

market.
With this in mind, ecommerce companies need to offer a range

of options and to be prepared to adapt as the market changes.
www.jumia.com
Cash payments are key for the short term, while trust of and access
to online payments remain low, but if the rate of uptake of electronic
payment for some areas continues it will soon crucial that an
ecommerce company includes these payment options to effectively
cater for consumers. As noted before, certain payment methods
may be prevalent in one African country but unpopular in another;
for example, while mobile payment has been enthusiastically
adopted in Kenya, it is three times less likely that a Tanzanian will
consider mobile payments safe, and as such Tanzanians are less
likely to warm to a company offering predominantly mobile payment
options.
In conclusion, we must work on the assumption that ecommerce in
Sub-Saharan Africa is here to stay. It is vital to plan for the long-term
and to delivery quality in all aspects of each venture, establishing
ecommerce as a safe and easy-to-use service part of customers
everyday lives.
109
COMPANY
PROFILES
Company
Acapture
Acapture provides global card acquiring, more than 50 alternative payment methods, more than
20 ecommerce platform plugins, POS, dispute handling and over 150 transaction currencies to
merchants and PSPs (white labelled). Acapture also supports reporting customization capabilities,
which can be initiated by the PSP or merchant. 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
dmartin@acapture.com, +31 2079 423 00 Netherlands
Geographical presence
New York, Utah, San Francisco, Madrid, Paris, London, Berlin, Singapore, Tokyo, Hong Kong and
Macau, Auckland
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 UnionPay
Pre-paid cards
paysafecard
Online banking
iDEAL, SofortUberweisung, Giropay, Prezelewy 24, Poli, PostFinance, Trustpay, Trustly, EPS
E-wallet
Alipay, Yandex, PayPal, Onecard, Mercadopago
Mobile / SMS / IVR
Yes
Alternative payment methods
Yes
Offline
POS
Connected companies (#)
Undisclosed
Companies PSP is connected to
Acapture is connected to numerous alternative payment schemes, acquirers, banks and

ecommerce platforms.
Settlement currencies (acquirers)
AUD, CAD, CHF, DKK, EUR, GBP, HKD, JPY, NOK, NZD, PLN, SEK, SGD, USD
Services
Unique selling points
Acapture designs payment solutions for PSPs and ecommerce merchants looking to expand their
business internationally. It handles accounts receivable and accounts payable, providing global
card acquiring, 18 ecommerce platform plugins, dispute handling, consolidated reporting and the
ability to handle more than 50 of the most popular alternative payment methods.
Core services
Global card processing, domestic global acquiring, alternative payment methods, ecommerce
platform plugins, tokenization, underwriting, fraud/risk monitoring, interchange optimization, multicurrency 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.
Other services
Tokenization, hosted payment pages, currency conversion, 24/7 support across the globe,
Interchange optimization and consultancy.
Third parties
ControlScan
COMPANY PROFILES
111
Technology
112
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 to use HTTP response codes to indicate high level
API errors. APIs address all the aspects of payment industry standards and eliminate the burden
of security implementation, tedious integration and status polling for developers. One time simple
integration of a few standard APIs opens up the door to worldwide payment options.
Security
PCI-DSS compliant
www.acapture.com
One solution,
no borders
The best payment platform for
merchants with international ambitions
International
transactions simplified
Acapture Global Ecommerce Payment Solutions

Cross-border payment solutions & expertise
FROM HODGEPODGE
TO HARMONY.
BOOST CUSTOMER SATISFACTION WITH

A CONSISTENT PAYMENTS EXPERIENCE
ANYTIME, ANYWHERE.
SEE HOW WITH
omni.aciworldwide.com
Company
ACI Worldwide
ACI Worldwide is the leading provider of secure, omni-payment systems to retailers globally. Our
Universal Payment (UP) Retailer Payments solutions support a variety of in-store, ecommerce and
digital channels, providing the framework for retailers to create and manage a customer-centric
experience. ACIs advanced fraud prevention and payment data security tools reduce risk while
protecting the bottom line. ACI powers electronic payments and banking for more than 5,600
financial institutions, retailers, billers and processors globally.
Website
www.aciworldwide.com
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
North/Latin America, Europe, Middle East/Africa, Asia/Pacific
Market segment(s)
Auction, gambling, gaming, retail, convenience/fueling, grocery, merchant services, travel, other
Active since
1975
Payment switch provider, ecommerce fraud prevention provider, omni-channel payment solutions
Payment Methods
Credit cards
Visa, MasterCard, American Express, Discover, Diners, JCB, UnionPay, Carte Aurore, Kpkort,
UATP (in 2016)
Debit cards
Visa, Visa Electron, MasterCard, Maestro, Carte Bleue, Dankort
Pre-paid cards
Proprietary system, third party systems, Ukash
Online banking
No
E-wallet
PayPal, Amazon Payments, MasterCard MasterPass, AliPay, Skrill, Mazooma
Mobile/SMS/IVR
Mobile, IVR
PayPal, PayPal Credit, AliPay
Offline
Yes
Over 100
N/A
More than 150 including USD, EUR, GBP, AUC, CAD, CNY, HKD, INR, JPY, KRW, MAD, NZD, PKR,
SAR, SGD, VND, YAR
Services
ACI is the only global company that can deliver the breadth of retailer specific payments solutions
and provide the necessary security and fraud prevention, business functionality, and integrated
value add applications required in todays competitive market. Coupled with the ability to host the
solution in trusted, industry leading hosted data centers, ACI delivers the protection the retailer
needs without sacrificing business responsiveness while achieving industry-leading service levels.
Core services
Payment switch provider, ecommerce fraud prevention provider, omni-channel payment solutions.
Pricing
For current pricing, contact us at: www.aciworldwide.com
Collecting payments
Yes
No
Capabilities include: ecommerce fraud detection and prevention, device fingerprinting,

IPgeolocation, 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.
ThreatMetrix, iovation, Neustar Targus, Whitepages Pro, Tradebeam and Perseuss
N/A
Other services
N/A
Third parties
N/A
COMPANY PROFILES
115
Technology
116
Direct connections
Yes
Batch processing
Yes
Yes
Yes
iFrame, Hosted Payment Page
Interface
SOAP, XML, Web services, multiple APIs
Security
HTTPS, TLS 1.2
Company
Adyen
Adyen is the only payments solution that has built a completely new set of rails connecting to the
card schemes and local payment methods, and the only solution to accept ecommerce and pointof-sale payments in a single platform. Due to this, Adyen is becoming the go-to solution for global
merchants including Mango, ONeill, Crocs and Superdry.
Website
www.adyen.com
PSP, online payments, payment processing, multi-currency, PCI, ecommerce, alternative payments,
acquirer, gateway, omnichannel, point-of-sale
Contact
sales@adyen.com
Global
Market segment(s)
Active in all industries
Active since
2006
Payment service provider, payment gateway, alternative payment method, acquirer, processor,
issuer, bank
Payment methods
Credit cards
AmEx, VISA, CB, JCB, Visa, MasterCard, Diners, Discover, UATP, AirPlus, Kalibra, PostePay,
SanPaolo, Cofinoga, Aurore, Delta, CUP ExpressPay, etc.
Debit cards
Carte Bleue, Dankort, Giropay, Maestro, PostePay, Visa Debit, UPOP, Carte Bancaire
Pre-paid cards
paysafecard, PostePay, Cash ticket, Ukash, PayPal, local national brands
Online banking
Yes
E-wallet
PayPal, Alipay, DOKU Wallet, Neteller, Moneta, Webmoney, MercadoPago, Dineromail, CashU
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.
Over 250 payment methods supported worldwide.
Offline
Bank transfers in over 30 countries, a selection of local voucher/cash-on-delivery payment

methods.
None, Adyen payments platform is developed and managed in-house and does not rely on
thirdparties.
None, Adyen is a standalone, all-inclusive payments platform which handles the payment flow endto-end.
AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, JPY, NOK, NZD, PLN, SEK, SGD, USD, ZAR
Services
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. 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
Maximum per transaction fee of EUR 0,10. No setup or maintenance costs. Pricing for cards on
blend fees or interchange and basis.
Collecting payments
Yes
Yes
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.
COMPANY PROFILES
117
Adyen provides built-in solutions, Adyen RevenueProtect, and Adyen RevenueProtect+. It does not
have external risk partners.
For more details, please contact the company.
Other services
Payment routing; dynamic 3D-Secure; fully customizable payment pages; recurring and one click
payments using tokenization; native mobile payment pages; pay out; vouchers; POS solution for
face-to-face payments.
Third parties
None, everything is developed and maintained in-house.
Technology
118
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
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
Allied Wallet Inc.

Allied Wallet Inc, founded in 2001, offers top-of-the-line international payment processing services
in 196 countries across the world with the ability to accept 164 currencies and settle in 25. With
SHA-256 PCI Level-1 compliance and fraud scrub-technology, Allied Wallet is the most secure and
comprehensive choice for global processing.
Website
www.alliedwallet.com
payment gateway, PSP, online payment, payment processing, multi-currency, PCI, ecommerce,
alternative payments
Contact
aalmeda@alliedwallet.com, sales@alliedwallet.com
Africa, Asia/Pacific, Australia, Europe, North America, South America
Market segment(s)
Retail, Travel, Technical Support, Legal Services, Education, Web Development, Electronic
Equipment, Forex
Active since
2002
Payment service provider, payment gateway, acquirer, processor, issuer, alternative payment
method.
Payment methods
Credit cards
AmEx, CB, JCB, Visa, MasterCard, Diners, Discover, Maestro, GiroPay, Klarna
Debit cards
Maestro, Giropay, Carte Bleue, Visa Debit, China UnionPay, Debit MasterCard, Carte Bancaire,
Pre-paid cards
Allied Wallet uses pre-paid cards to pay out merchants, allowing them the ability to transfer
balances between cards for affiliate payouts or peer-to-peer transactions, making transfers
between the linked bank account and the card, and for every-day purchases.
Online banking
No
E-wallet
Allied Wallet eWallet
Mobile / SMS / IVR
Mobile in 196 countries
No
Offline
More information available upon request.
25 settlement currencies.
Klarna, Sofort
Services
120
Allied Wallets unique system for deterring fraudulent transactions across their various platforms
provides ease of mind to online merchants. The SHA-256 PCI Level-1 compliant gateway ensures
that all payments are secure at all times.
Core services
Online payment processing, mobile payment processing, pre-paid debit cards.
Pricing
Rates start at 1.5%. For current pricing, contact a member of our sales team at
sales@alliedwallet.com.
Collecting payments
Yes
Yes

MasterCard SecureCode, persistent cookies, data validation, geographical checking, parameter
format checking, transaction limit checking, risk scoring, geo IP-origin check, black/white list, etc.
G-2, WebShield, in-house Fraud Scrub Technology
Receivables management, online void and refund, purchase on credit, payment guarantee, etc.
Other services
Third parties
Technology
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
Security
HTTPS, SSL+
COMPANY PROFILES
121
STAY IN CONTROL
OF YOUR PAYMENTS
WE MAKE YOUR PAYMENT MANAGEMENT LESS COMPLICATED

AltaPay is a Danish Payment Management Company that
Regardless of where your business is located, AltaPay combines
provides eCommerce businesses with global payment pro-
IT and payment excellence with full end-to-end support services.
cessing solutions. We help you define and implement your
The process starts with a thorough analysis of your current
optimal payment solution by connecting you to a wide array
business model to find the most suitable payment strategy
of global and local financial institutions through the AltaPay
before we negotiate the best rates with financial partners and
platform.
assist with reporting, bookkeeping and technical support.
Take the first step to improve your

payment solutions at altapay.com
Company
AltaPay A/S
AltaPay is a leading payment management company providing ecommerce businesses with global
payment processing solutions. AltaPay helps clients define and implement optimal payment
solution by connecting them to a wide array of global and local financial institutions through the
AltaPay platform. AltaPay is a dedicated partner for payment related needs.
Website
www.altapay.com
payment management, conversion, acquiring, technical support, uptime, financial institutions,

ecommerce
Contact
info@altapay.com
North America, Europe, Middle East/Africa, Asia/Pacific
Market segment(s)
All major industries with a focus on retail
Active since
2008
Payment service provider, payment gateway, acquirer, alternative payment method, fraud detector,
point of sales, gift cards, technical development, bookkeeping, automated reconciliation, full
customer support.
Payment methods
Credit cards
AmEx, VISA, CB, JCB, Visa, MasterCard, Diners, Discover, UnionPay
Debit cards
Bancontact/Mister Cash, Maestro, Giropay, Maestro, Visa Electron, Dankort, Laser, Carte Bleue,
Visa Debit, UnionPay, Debit MasterCard, Carte Bancaire
Pre-paid cards
paysafecard
Online banking
Sofort, iDEAL, Prezelewy24, SampoBank, Swedbank, Nordea
E-wallet
PayPal, V.me, MasterPass
Mobile/SMS/IVR
Yes
Yes
Offline
Klarna, PaybyBill, Point of Sales
Multiple direct acquiring integrations and financial partnerships worldwide
https://altapay.com/partners/our-partners
More than 100 currencies
Services
AltaPays mission is to allow clients to gain control over their payments, get insights into
the complicated world of payments by creating transparency, enabling change, growth, and
global expansion. Alongside consultancy and transaction processing we automate all financial
reconciliation, resulting in reduced operational overhead and allows more efficient process to be
developed.
Core services
All aspects of Payment Management Financial, Technical, Commercial
Pricing
Prices and contracts are negotiated and handled by AltaPay on behalf of clients. Pricing depends
on clients payments needs and will be defined and agreed by both parties. More information about
our process at https://altapay.com/how-it-works.
Collecting payments
No
No
Black/white list, data validation, IP geo-location, geographical checking, global validation checks,
MasterCard SecureCode, risk scoring, velocity checks, Verified by Visa to fraud prevention
(measures)
ReD, MaxMind
N/A
Other services
N/A
Third parties
N/A
COMPANY PROFILES
123
Technology
124
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
XML, ADAPT, Hosted
Security
HTTPS, PCI Level 1 compliant
Company
arvato Financial Solutions

arvato Financial Solutions is a global and Europes third largest integrated financial service provider
and part of Bertelsmann. The company has around 7,000 employees in 22 countries, including a
strong presence in Europe, America and Asia, and offers flexible full-service solutions for the valueoriented management of customer relationships and cash flows.
Website
finance.arvato.com
PSP, alternative payments, acquiring, fraud prevention, risk guarantees, PCI, online payment,
factoring
Contact
Jan Richard
janflorian.richard@bertelsmann.de
North/Latin America, Europe
Market segment(s)
Physical goods, retail, digital goods
Active since
1835
Payment service provider, payment gateway, processor, alternative payment method provider,
factoring
Payment methods
Credit cards
AmEx, VISA, JCB, Visa, MasterCard, Diners, Discover, UnionPay
Debit cards
Vpay, VISA Electron, VISA Debit, Maestro, Dankort, China UnionPay Debit, Carte Bleue,
Pre-paid cards
paysafecard, Cash ticket, Ukash, AstroPay, Postepay, Moneysafe
Online banking
SOFORT, TrustPay, POLi, iDEAL, Nordea, Giropay, Przelewy24, 99Bill
E-wallet
PayPal, Alipay, Click&Buy, Skrill, QIWI, CashU, moneta.ru, Yandex, MasterPass
Mobile / SMS / IVR
MobilePay, Paii, Paybox, Kanzaroo, SMS in all European countries, IVR in USA and Australia.
Yes, over 300 payment methods supported worldwide.
Offline
Bank transfer, a selection of local voucher payment methods.
Acquirers, specialised fraud solutions, ecommerce platforms
Please contact Arvato for a complete list of connected processors and acquiring banks worldwide.
More than 100 currencies.
MasterCard Debit, Cartes Bancaires, Mister Cash
Services
Arvato provides an end-to-end-ecommerce solution across order management, shop management,

online marketing, customer services, warehouse, logistics and financial services by one company.
Special emphasis should be placed on the full del credere protection (risk takeover). Arvato
maintains a completely unique position in the industry.
Core services
Online payment processing, reconciliation, fraud and risk management, acquiring, accounting,
reporting, collecting services, accounting
Pricing
Pricing depends on clients payments needs and will be defined and agreed by both parties.
Collecting payments
Yes
Yes
Adress identification (address validation, address verification), limit setting, monitoring, transaction
analysis, scoring, limit management, person identification, black/white/grey listing, velocity check,
device fingerprinting, manual order review.
arvato RSS, Cybersource
Purchase on credit, credit scoring, credit control, receivables management, online void and refund,
purchase on credit, payment guarantee
Other services
Tokenization, 3D-Secure (Verified by Visa, MasterCard SecureCode, CVC-Verification)
Third parties
COMPANY PROFILES
125
Technology
126
Direct connections
In parts
Batch processing
Yes
No
No
Yes
Interface
Web services, SOAP, XML (specifications available upon request)
Security
HTTPS, SSL+, PKI, PCI 3.0
How can you easily increase

your checkout conversion rate and
your customers satisfaction level?
By offering simple and customer-friendly processes.
CONVENIENT
SHOPPING
INCREASED
CONVERSION
WOW, THATS EASY!
With our checkout-related services, we help you to increase the conversion rate whilst also
ensuring a convenient purchasing experience for your customers.
arvato Financial Solutions convenience in every transaction
nance.arvato.com
Company
Avangate
Avangate is the modern Digital Commerce provider that enables the New Services Economy,
helping Software, SaaS and Online Services companies sell their products and services via any
channel, acquire customers across touchpoints, increase retention, leverage smarter payments,
experiment on the fly and optimize their business in order to increase overall revenue. Avangates
clients include Absolute, ABBYY, Bitdefender, Brocade, FICO, HP Software, Kaspersky, Telestream
and many more companies across the globe.
Website
www.avangate.com
Online payments, payment processing, multi-currency, ecommerce, digital commerce,

international, digital goods, merchant of record
Contact
Delia Ene, info@avangate.com
Market segment(s)
Software, SaaS, online services, cloud services, digital goods, financial services and identity
management, eBooks and self-publishing, technical support services, online legal services,
eLearning and online education, online backup and storage services
Active since
2006
Merchant of record, payment service provider, payment gateway
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), iDEAL,
Dankort, Chinese Debit Cards, Barcode Santander, Giropay, CartaSI, China UnionPay
Pre-paid cards
Not Applicable
Online banking
directeBanking, DirectDebit UK
E-wallet
PayPal, Webmoney, Boleto Bancario, Konbini, Pay Easy (through Konbini), Pago Facil, QIWI
Mobile / SMS / IVR
Mobile responsive cart
Trial Pay, PayNearMe, Konbini, Pay Easy (through Konbini), Pago Facil, CashU, Ukash
Offline
Wire/Bank Transfer, ACH/echeck, Check, Payment info by Fax, Purchase Order
Not disclosable
Not disclosable
EUR, GBP, USD, JPY and others available upon request.
Services
In todays 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/
Collecting payments
Yes
Yes
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
Not disclosable
N/A
Other services
Marketing services, Merchant Services, Managed Affiliate Services
Third parties
More information available upon request
COMPANY PROFILES
129
Technology
130
Direct connections
Yes (API)
Batch processing
No
Yes
Yes
Yes
Interface
SOAP, JSON-RPC, REST, web services
Security
HTTPS, PKI, PGP, Open SSL
Company
Chexx Inc.
Chexx Inc. makes sending payments a simple and cost effective part of your operations. We issue
real-money commissions, rebates and rewards on your companys behalf to beneficiaries around
the world. Chexx Inc. checks, local electronic payments and prepaid cards are easy to order,
quickly delivered, and appreciated by beneficiaries everywhere.
Website
www.chexxinc.com
payout service, rebate service, refund service, payment disbursement, international payout service,
pay affiliates, pay panellists, pay commissions
Contact
Simon Venhuizen, Business Development Manager, North America, simon@chexxinc.com

Brian Weekes, VP Sales, Europe, brian@chexxinc.com
Stuart Ballan, Head of Sales, Middle East, stuart@chexxinc.com
Vancouver, Canada; Shannon, Ireland; Tel Aviv, Israel
Market segment(s)
Affiliate payouts, online market research, pharmaceutical research, prize fulfillment, reverse
logistics, refund issuing
Active since
2000
Payment service provider, payout service
Payment methods
Credit cards
No
Debit cards
No
Pre-paid cards
Chexx Inc. issues both virtual and plastic prepaid cards in multiple currencies.
Online banking
No
E-wallet
No
Mobile / SMS / IVR
No
No
Offline
Bank transfers in most European countries.
Services
Single interface for all payment types and currencies; top up via single wire transfer in the currency
of your choice; fast disbursement to beneficiaries around the world; bank and non-bank payments;
domestic and international services.
Core services
Outbound Payment Processing: cheque issuing; electronic transfers; virtual and plastic prepaid
cards.
Pricing
Upon request.
Collecting payments
No
Yes
No
Other services
QuickDraw Online payment portal allows beneficiaries to choose which payment method they
prefer while securely providing payment details.
Third parties
No
COMPANY PROFILES
131
Technology
132
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
Raven Online, Raven API, QuickDraw Payment Selection Tool.
Security
All systems PCI compliant
Company
cleverbridge
cleverbridge is a proven leader in ecommerce technology, services and expertise for global
software and subscription companies that serve consumers and businesses. For more than 300
clients, cleverbridge is a true extension of their teams, understanding each clients billing models,
markets, channels and specific ecommerce requirements.
Website
www.cleverbridge.com
PCI, ecommerce, payment service provider, payment gateway, merchant of record, selling software
online, subscriptions, subscription commerce, recurring revenue, compliance, taxation
Contact
inquiry@cleverbridge.com
North America, Europe, Asia/Pacific
Market segment(s)
Digital goods, digital services, software, cloud, SaaS
Active since
2005
Global full-service ecommerce provider, PCI, ecommerce, payment service provider, payment
gateway
Payment methods
Credit cards
AmEx, VISA, MasterCard, JCB, Discover
Debit cards
Maestro International, Visa Electron, Dankort Visa, Carte Bleue, Visa Debit, Alipay, Debit
MasterCard, Carte Bancaire
Pre-paid cards
N/A
Online banking
Real Time Bank Transfers Finland and Sweden, Sofortberweisung, iDEAL
E-wallet
PayPal, Alipay, WebMoney
Mobile / SMS / IVR
N/A
Yes
Offline
SEPA Bank transfers, SEPA Direct Debit (Germany), Konbini (Japan), PayNearMe, International Wire
Transfers, Boleto Bancario, Purchase Order, Check
13
N/A
USD, EUR, JPY, GBP
Services
cleverbridge was founded by experts with decades of experience in the ecommerce industry. Our
laser focus on software and cloud companies has resulted in unmatched expertise that addresses
the unique needs of this complex market. With hundreds of clients, we have a proven track record
of success for conquering clients evolving requirements for online sales.
Core services
Payment processing, integration/APIs, localization, subscription management, pricing

configuration, merchandising, reporting, channel management, security and compliance, fraud
prevention, customer support, affiliate management, email marketing services.
Pricing
For more details, please contact our sales team.
Collecting payments
Yes
Yes
Real-time fraud prevention, proxy identification, device fingerprinting, IP geolocation, global

validation checks, velocity checks, persistent cookies, data validation, geographical checking,
parameter format checking, transaction limit checking, geo IP-origin check, trustlist, negative
database, rules based fraud system, real-time adaptability and customisation, in-house proprietary
solutions, chargeback management, analysis and reporting on historical data.
Third party providers are used for IP Geolocation, return debit prevention and e-mail validation.
N/A
Other services
N/A
Third parties
N/A
COMPANY PROFILES
135
Technology
136
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
Web services, SOAP, REST, XML, JSON
Security
HTTPS, SSL+, PKI, Level 1 PCI compliant, SSLv3 and TLSv1, Full PCI DSS Level 1, SAS70 type II,
SSAE 16, CAN-SPAM and EU Safe Harbor compliance
Company
Computop the payment people

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 14 billion per year for its client network of
over 10,000 large international merchants and global marketplace partners such as C&A, Fossil,
Rakuten, Samsung and Swarovski. Computops comprehensive multichannel solution is geared to
the needs of merchants, banks and white label customers.
Website
www.computop.com
payment service provider (PSP), multichannel payment, alternative payment methods,

multicurrency, fraud prevention, PCI solutions, tokenization, point-of-sale, mobile POS (mPOS)
Contact
Germany: +49 (951) 98009-22; sales@computop.com

UK: +44 (0) 203 755 3435; uk@computop.com
USA: +1 917 543 1630; usa@computop.com
China: +852 6738 6229 (Hong Kong); +86-186 0178 3373 (Shanghai); china@computop.com
Europe, Asia, the Americas
Market segment(s)
Retail, travel/airline, gaming, gambling, events, pharmaceuticals, ticketing, content, digital

downloads, customized B2C solutions, B2B purchasing solutions
Active since
1997
Payment service provider (PSP)
Payment methods
Credit cards
American Express, MasterCard, VISA, CB, JCB, Visa, Diners Club, Discover, China UnionPay, Aura,
elo, Hipercard
Debit cards
Bancontact/Mister Cash, Carte Bleue, Carte Bancaire, China UnionPay, Maestro, (e)Maestro, Visa
Electron, Dankort, Laser, Delta, Visa Debit, Visa CPC, Debit MasterCard, PostFinance, Domestic
Debit Cards Brazil
Pre-paid cards
paysafecard
Online banking
Alipay, AstroPay direct, eps, giropay, iDEAL, PayU, POLi, PostFinance, Przelewy24, SafetyPay,
SOFORTberweisung/SOFORTBanking, TrustPay, Trustly
E-wallet
Alipay, amazonpayments, iPay Wallet, MasterPass, Paydirekt, PayPal, PostPay, QIWI, Skrill, Yapital
Mobile/SMS/IVR
Yapital QR code payments
International direct debit, AstroPay Card, Barzahlen, BillPay, Bitcoin, Boleto Bancario, IKANO card,
Klarna, Klarna Checkout, PayByBill, Paymorrow, Payolution, Payprotect, RatePAY, teleingreso,
Ticket OnLine, Carte 4 Etoiles, Carte Helline, Carte Helline 4 Etoiles
Offline
QR codes, POS and Mobile POS, magnetic strip, online chip and PIN, offline chip and PIN for Visa
and Master Card.
Acquirers, specialized fraud solutions, logistics partners, credit management, ecommerce platforms
Please contact Computop for a complete list of connected processors and acquiring banks
worldwide.
More than 70 different currencies
Services
International card processing and local payment processing; toll and tax calculations for logistics;
receivables management; currency conversion; increased conversion through individual payment
forms for all channels; reduced order abandonment through international and country-specific
payment methods; 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, Point of
Sales (POS), mail order/telephone order (MOTO) as well as out of the box mobile templates for
iPhone, iPad, Blackberry, Android, Windows and Symbian; extensive risk management and fraud
protection.
COMPANY PROFILES
137
Pricing
Provided upon request. Contact Computop for more information.
Collecting payments
Yes, including credit cards, direct debit and global online bank transfers.
Yes, with various settlement currencies in Europe, Asia, North America and Latin America.
Own built-in fraud prevention solution and module with velocity checks, IP geo-location etc., Full
risk management system including: adress check, credit check, card origin check, geo IP-origin
check, velocity rule enging, black/white list, device-ID check, Computop ELV score, 3D Secure
(Verified by Visa, MasterCard SecureCode, American Express SafeKey), bank account/credit card
checks.
Additional integrated fraud prevention and risk management Partners: ACI ReD, arvato Infoscore,
Brgel, Cardinal Commerce, CEG, Creditreform, deltavista, Boniversum, SCHUFA
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, Pseudo
Card Number/tokenization, Corporate Paypages through templates, payment routing, Point-toPoint Encryption for point of sale.
Third parties
Computop Paygate is built and developed in-house.
Technology
138
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
Name Value Pair (NVP); Web services (specifications available upon request)
Security
SSL, HMAC, Blowfish, PCI DSS level 1 Certified, certified bank data centers
For more information contact

psp@computop.com
Company
Counting House Ltd.

Counting House provides a global range of inbound and outbound payment processing services to
the online gaming community. Funding by multi-currency credit card, cheque, direct debit and bank
transfer, and cashing out by multi currency cheque or EFT makes for a simple, streamlined and
positive experience for international players.
Website
www.countinghouseltd.com
PSP, credit card processing, international payout service, cashiering, igaming payments, account
funding, outbound payments
Contact
Paul Davis, LLC, General Counsel; Stuart Ballan, Head of Sales
Europe, Canada, Middle East
Market segment(s)
Online gaming, Peer to Peer gaming
Active since
2008
Payment service provider, processor
Payment methods
Credit cards
MC, VISA branded cards
Debit cards
MC, Visa branded cards: Maestro, Visa Electron, Carte Bleue, CartaSi, Visa Debit, Debit
MasterCard
Pre-paid cards
Yes
Online banking
Yes
E-wallet
No
Mobile / SMS / IVR
Yes
Yes
Offline
Services
Counting House offers a global range of inbound and outbound payment processing services in
key jurisdications and is uniquely qualified to establish bespoke services in growth markets.
Core services
Inbound and outbound payment processing.
Pricing
Upon request.
Collecting payments
Yes
Yes

MasterCard SecureCode, velocity checks, transaction limit checking, risk scoring, black/ white list,
chargeback history
DataCheck, FraudPrevent, MaxMind
Other services
Expert consultation on payment preferences in key markets, licensing and international banking.
Third parties
COMPANY PROFILES
141
Technology
142
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
API, Online Banking Interface
Security
PCI compliant services
Company
Digital River World Payments

Digital River World Payments enables merchants to process online payments using more than
200international and local payment options, and over 170 currencies. Built to reduce the risks and
costs of running a global payments program, the solution also offers a wide range of value-added
services that support the complete payment lifecycle. These include checkout page optimization,
real-time fraud detection, solutions to manage PCI exposure and currency risk, as well as
advanced back-office reconciliation services and business intelligence tools. In 2014, Digital River
processed more than USD 35 billion in online transactions.
Website
www.digitalriver.com
payment gateway, PSP, online payment, payment processing, multi-currency, PCI, ecommerce,
alternative payments
Contact
europe@digitalriver.com, americas@digitalriver.com, apac@digitalriver.com

European HQ: +46 (0)8 527 210 00, US HQ: +1 952 253 1234
North/Latin America, Europe, Asia/Pacific
Market segment(s)
Retail, travel, online services, software, direct selling, B2B
Active since
1994
Full-service payments provider including card processing, card acquiring and alternative payment
solutions.
Payment methods
Credit cards
Visa, MasterCard, American Express, JCB, Diners, Discover, China UnionPay, plus various local
cards in Europe, LATAM and APAC including CarteBleue, Carte Aurore, 4 toiles, Carte Cofinoga,
Dankort and local card processing in Brazil (Visa, MC, Hypercard, Diners, ELO and AmEx).
Debit cards
International debit cards such as Maestro International, Visa Debit and Electron. More than 60 local
debit cards in China, 6 local debit cards in India and more than 20 local debit cards in South Korea.
Pre-paid cards
Local cash cards in India.
Online banking
iDEAL in The Netherlands; Sofortbanking and Giropay in Germany; EPS in Austria; Nordea in
Denmark; Swedbank, SEB, Handelsbanken and Nordea in Sweden; Nordea, Danskebank, OP,
Aktia, S-Pankki, Sstpankki in Finland; 25 banks in Poland; 39 banks in India; 19 banks in
SouthKorea.
E-wallet
PayPal, AliPay, QIWI
Mobile/SMS/IVR
Local solutions in India and South Korea. In other markets a mobile checkout solution is available.
Boleto Bancario in Brazil, card installments in Brazil, Mexico and South Korea. Bpay in Australia.
Ease2Pay and Alipay in China. Klarna Invoice in Europe.
Offline
Electronic Fund Transfers (bank transfer) in more than 20 European countries, Direct Debit
(including SEPA) in Austria, Germany (ELV), The Netherlands, Bpay in Australia, Boleto Bancario
inBrazils.
More than 50 local card acquirers, financial schemes and institutions worldwide.
Please contact Digital River World Payments for more information.
ARS, AUD, BHD, CAD, CLP, CNY, COP, HRK, CZK, DKK, HKD, HUF, INR, IDR, ILS, JPY, JOD, KRW,
KWD, LBP, MYR, MXN, MAD, OMR, NZD, NOK, PEN, PHP, QAR, RUB, SAR, SGD, ZAR, SEK, CHF,
THB, AED, EGP, GBP, USD, TWD, RON, TRY, EUR, PLN, BRL
Services
We are a merchant serving merchants through our commerce offering we act as the merchant
of record for tens of thousands merchants globally. As such we have the in-house experience
and expertise needed to support merchants to efficiently build, maintain and optimize their global
payments program and quickly enter new geographical markets.
COMPANY PROFILES
143
Core services
Gateway services:
- Local and global card processing
- Flexible and neutral bank connections
- Retail bank products and 3rd party solutions
- PCI compliant
- Tokenization services
- Recurring payments
Full Service Acquiring (ISO):
- Managed reconciliation process
- Chargeback management
- Standardized reporting
- Full card acquiring services
- Managed merchant accounts
- Simplified legal/administrative process
- Single point of contact for payment related questions
Pricing
Flexible pricing options based on requirements and volumes. Please contact us for more
information.
Collecting payments
Yes
Yes
Basic fraud prevention services are available as part of the World Payments solution. Please
contact us for further details.
Other services
Page Builder self service checkout page creation tool, reconciliation management services,
chargeback management services, subscription management, payouts, advanced matching engine
for offline payments (bank transfers).
Third parties
400 global partners
Technology
144
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
We make it easy for merchants to engage with us through a variety of entry points, fitting THEIR
business and technology models:
- Payment Page: for merchants who are not or do not want to be PCI compliant.
- Through API solutions allowing PCI compliant merchants to interface directly to our payment
solutions
Security
Level 1 PCI compliant, PSD license holder
Looking to sell in Brazil

but dont have a company there?
Relax, well handle it.

Wherever youre expanding, Digital River World Payments can ensure your online payments
programme fits local conditions and requirements. With 21 years of experience, $35 billion in
online transactions annually and connections to over 200 local payment methods, we know
what it takes to enter a new marketsafely, successfully and quickly.
Find additional local facts and more on our e-payments map to success: bit.ly/brazil-online
Company
EBANX
EBANX is the leader for cross-border payment processing for international ecommerce merchants
selling to LatAm we are connected to more than 400 merchants in over 40 countries. EBANX
enables consumers to use their preferred local payment methods, collecting funds locally and
making settlements to merchants globally. In 2015, EBANX was awarded Best International CNP
Program, EY Brazil Entrepreneur of the Year, and ReclameAQUI seal for Best Customer Service.
Website
ebanx.com
Cross-border payments, Boleto Bancario, Brazil, LatAm, payments, local payment methods,
installments, payment processor and FX processor.
Contact
Wade Pylka, VP Business Development | wade@ebanx.com
Latin America, North America and Asia.
Market segment(s)
All industries: retail, electronics, travel/airline, content, games, digital downloads, education,
finance, SaaS, payment service providers, B2B and B2C.
Active since
2011
Cross-border payment processor in Brazil and LatAm specialized in local payment methods.
InBrazil, EBANX is also a FX operator authorized by the Central Bank of Brazil.
Payment methods
Credit cards
Local and international credit card processing in Brazil, Mexico, Chile and Colombia.
Debit cards
Local debit card that allows online transactions in Mexico, Chile and Colombia.
Pre-paid cards
For more details, please contact the EBANX Business Development Team: bizdev@ebanx.com
Online banking
Brazil: Ita, Bradesco, Banco do Brasil, HSBC and Banrisul; Peru: BBVA, Interbank, BCP and
Scotiabank; Chile: BBVA, BancoBice, Banco de Chile, HSBC and others; Colombia: Bancolombia,
Banco Caja Social, BBVA, Citi, Helm, HSBC, and others; Mexico: HSBC, BBVA Bancomer,
Banamex, Santander, and others.
E-wallet
Mobile/SMS/IVR
Boleto Bancario, OXXO, PagoEfectivo, Servipag, PSE, Safetypay, Baloto, Multicaja, Sencillito,
PuntoRed, Efecty, 7 Eleven, CajaVecina, and ServiEstado.
Offline
Boleto Bancario, OXXO, PagoEfectivo, Baloto, PuntoRed, Multicaja, Sencillito, 7 Eleven,

CajaVecina, and Efecty.
More than 40 financial institutions and credit card acquirers in LatAm.
All relevant banks, acquirers and alternative payment methods in Brazil and LatAm.
EBANX settles in USD or EUR.
Services
146
EBANX expands your target market to LatAm and eliminates the need to establish your own local
entity. Our expertise in the field guarantees that it is the simplest and most tax efficient business
model, collecting funds locally and transferring them globally. Increase your sales through local
payment methods with EBANX.
Core services
Cross-border payment processing, Brazil and LatAm domestic payment methods, global
remittances, and local acquiring.
Pricing
Collecting payments
EBANX collects funds locally and makes settlements to merchants globally in USD or EUR.
EBANX makes settlements to merchants or PSPs located internationally for daily, weekly, monthly,
or on-demand payments.
Full-risk management procedures and up-to-date risk application including consumer checks and
data validation, fraud prevention using scoring, internal black list, offline manual verifications, and
online and offline transaction monitoring. All checks are fully configurable and extendable.
All relevant fraud prevention companies in Brazil and LatAm.
Receivables management, online void and refund, and chargeback management.
Other services
Payments in installments, automated recurrent billing, customized checkout and direct API
integration, local acquiring services, automated refunds, 24/7 system maintenance, 24/7 support
for merchants and customers, and FX services.
Third parties
BEXS Bank and BoletoBancario.com
Technology
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
JSON POST/GET, API, online banking interface
Security
HTTPS and PCI-DSS1 Compliant.
COMPANY PROFILES
147
Company
eComCharge Ltd
eComCharge delivers White Label software and infrastructure ensuring card payments processing
for payment service providers and acquirers in a Platform as a Service (PaaS) model. Modular
payment gateway architecture allows integrate certain modules into existing system. eComCharge
is paying strong attention to anti-fraud prevention solutions, ensuring the clients safe and
reliable payments. eComCharge is EU-based PCI DSS Level 1 certified. eComCharge delivers
comprehensive card and alternative payment processing services for online merchants.
Website
www.ecomcharge.com
payment gateway, modular payment platform, online payments, PCI, payment processing, whitelabel payment platform, ecommerce, m-commerce, alternative payments, mobile payments, card
payments processing
Contact
eComCharge Sales Department: sales@ecomcharge.com, Phone: +371 67398658
Europe, Russia, CIS Countries
Market segment(s)
ecommerce, m-commerce, banks, payment service providers, forex, adult, gambling, gaming,
retail, other
Active since
2013
Payment service provider, payment gateway
Payment methods
Credit cards
AmEx, MasterCard, Visa, Diners, Discover, JCB
Debit cards
Visa, MasterCard, Visa Electron, Maestro
Pre-paid cards
paysafecard, UKash, Astropay Card
Online banking
Sofort, TrustPay, POLi, Przelewy24, SafetyPay, UseMyService, Giropay, Instant Transfer, iDEAL,
EPS, Astropay direct, SEPA Direct Debit, SEPA Wire transfer, Bank Links
E-wallet
Skrill, Neteller, PayPal, Amazon Payments, Alipay, WebMoney, Raberil Pay-Out, Boleto Bancario,
Ticket Online, QIWI, Moneta.ru, Yandex.Money
Mobile / SMS / IVR
No
Yes
Offline
No
Acquirers, alternative payment methods, 3D Secure MPIs, risk management solutions. Please
contact us for full connectivity list.
All currencies supported by connected acquirers and payment methods.
Services
148
eComCharge provides modular white-label payment platform beGateway in a PaaS (Platformas-a-Service) model. beGateway provides support for various integration types; a flexible,
customizable system of statistics and accounting; a secure payment page adapted for both
desktops and mobile devices; powerful innovative system of protection against fraudulent
transactions and risk management. beConnected is a single platform for accepting Alternative
payments connected to more than 35 payment systems, e-wallets and bank links. eComCharge is
one stop store for payment service providers, acquirers and online merchants.
Core services
Modular white-label payment platform for payment service providers and acquirers. Card and
alternative payment processing for online merchants. Antifraud and risk management system as
aservice.
Pricing
Please contact eComCharge for your individual solution and pricing.
Collecting payments
No
No
Black/white list, Data validation, Geographical checking, IP geo-location, Parameter format

checking, Rule based system, Device ID, 3-D secure, BIN checking
No
No
Other services
Card payment processing- bePaid; alternative payment processing platform including payment
systems, e-wallets, bank-links beConnected; anti-fraud prevention tool beProtected; our
products ensure one-click payments, tokenization, recurring billing, advanced reporting tool;
customizable white-label payment platform based on PaaS model.
Third parties
Technology
Direct connections
Yes
Batch processing
No
Yes
Yes
Yes
Interface
JSON, REST API, payment link, in-app m-commerce, mobile payment pages
Security
eComCharge is PCI-DSS 3.0 Level 1 compliant. This means that our customers do not need to
go through the complicated and expensive certification procedure themselves, but are PCI DSS
compliant using our products.
COMPANY PROFILES
149
Company
eMerchantPay Group Ltd

eMerchantPay is an established payment service provider that offers Card-Not-Present and
CardPresent solutions in 150 currencies to merchants across the globe.
Website
www.emerchantpay.com
Payment processing, ecommerce, card payments, alternative payment methods, payment gateway,
online payments, payment service provider and risk management.
Contact
sales@emerchantpay.com
Global
Market segment(s)
General ecommerce, travel, gaming, gambling, forex, binary options, adult and video gaming.
Active since
2002
PSP, ISO, payment gateway, acquirer, alternative payment methods.
Payment methods
Credit cards
Visa, MasterCard, UATP, JCB, American Express and Discover.
Debit cards
Visa Electron, Maestro, MasterCard Debit
Pre-paid
cashU, Ukash, paysafecard, OneCard and teleingreso
Online banking
Earthport, Sofort, POLi, inpay, Santander, Bancomer, eps, GiroPay, iDEAL, Trustpay, Przelewy24,
SafetyPay, HSBC, Banco del Bajio, Transferia Bancaria, Boleto Bancario, ProvinciaNet, Oxxo,
PagoFacl, Cobro Express and Servipag.
E-wallet
Moneta.RU, Yandex.Money, Neteller, WebMoney, QIWI & Alipay.
Mobile / SMS / IVR
infin
Yes
Offline
Yes
Acquirers, 3rd Party Fraud Scrubbing Tools, Credit Checks and other services.
Acquirers, fraud and risk services
EUR, GBP, USD, CAD and PLN
Services
150
Single interface solution | More than 50 directly available alternative payment methods | Redundant
payment connections | Professional guidance and assistance by experienced in-house risk
experts| A wide range of customisable fraud-scrubbing tools | Payment gateway with 99.99%
uptime | Quick and easy API integration
Core services
Online payment processing, payment gateway.
Pricing
For current pricing, please contact our Sales team at sales@emerchantpay.com.
Collecting payments
Yes
Yes
3D-Secure payer authentication, AVS, BIN country check, CCV/CCV2, device identification,
malware detection, PCI DSS compliance, IP address geo-location authentication, telephone
authentication and verification, negative and blacklists, positive and whitelists, purchase device
tracing, transaction amount thresholds and limits.
Yes, for the full list of partners, please contact us directly at sales@emerchantpay.com
Yes
Other services
Customized payment page, chargeback management, customer service, adjustable email

notifications, recurring and MOTO, payment of winnings, POS devices.
Third parties
Multiple 3rd parties integrated with our gateway system.
Technology
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
XML
Security
HTTPS, SSL & PCI DSS Level 1
COMPANY PROFILES
151
Company
eNett International
eNett International simplifies the complexities of payments by connecting travel industry specialism
with payments expertise.
We pioneer innovative B2B payment solutions that reduce risk and facilitate even more travel
content, at a lower cost. Easily integrated into existing travel booking workflows, our payment
solutions deliver financial, data and efficiency rewards for travel agents and industry suppliers.
Website
www.enett.com
Online payments, B2B travel payments, supplier payments, virtual card, Virtual Account Numbers,
pre-pay, payment processing, travel
Contact
tim.masih@enett.com
Americas, Europe, Middle East/Africa, Asia/Pacific
Market segment(s)
B2B Travel, Payments, Virtual Card
Active since
2009
Payment solution provider: fund-as-you-go Virtual Account Numbers
Payment methods
Credit cards
MasterCard (Virtual Cards)
Debit cards
N/A
Pre-paid cards
N/A
Online banking
No
E-wallet
No
Mobile / SMS / IVR
No
eNett Virtual Account Numbers (VANs) are unique 16-digit MasterCard numbers used for travel
supplier payments.
Offline
No
3 financial partners
MasterCard and Optal (FKA PSP International) and Travelport
eNett VANs can be generated in 30 currencies, 16 of which are available with local settlement.
Services
An eNett VAN is an automatically generated MasterCard number the travel industry can use
to make secure supplier payments. VANs reduce risk while delivering efficiency and cost
improvements and rewarding all customers with access to rebates* and dynamic content.
*subject to terms and conditions
Core services
Facilitating B2B travel payments using eNett Virtual Account Numbers (VANs).
Pricing
We make rebates accessible to our customers*, regardless of size. Because were unhindered by
credit losses or collection and financial carrying outlays, lower operating costs for us translate into
more cost savings for our customers.
*subject to terms and conditions
152
Collecting payments
No
No
Backed by the MasterCard guarantee and generating unique numbers for every transaction, eNett
VANs minimise the risk of fraud and maximise protection against supplier default. eNett also
deploys the latest in transaction monitoring technology across our payment and AML systems to
further protect from fraud.
Confidential
N/A
Other services
Automated reconciliation, integration with industry tools & workflows, automated chargeback
processing, real-time reporting, suite of lower cost FX options, local funding and settlement and
quarterly business reviews.
Third parties
MasterCard and Optal (FKA PSP International)
Technology
Direct connections
Yes
Batch processing
Yes
No
No
Interface
eNett Payments Platform

Agents can easily generate card details within the eNett Payments Platform web portal.
API
eNetts Application Programming Interface (API) is available for easy integration with any
proprietary booking or back-office accounting tool.
eNett VANs are also integrated with Confermas global travel payment network.
CSV Batch Upload
VAN requests using a Batch Upload or Import is the best method for agencies paying several
suppliers at the same time. Batch Upload allows you or your account teams to upload a CSV,
SLS or XLSX file to generate multiple VANs within the eNett Payments Platform.
Hotel direct billing
Cornerstone and eNett have partnered to create payment efficiencies for Travel Management
Companies with an automated hotel direct billing tool.
Travelport Travel Commerce Platform
eNett VANs are the only virtual cards deeply embedded across Travelports Travel Commerce
Platform, including Travelport Galileo, Travelport Apollo, Travelport Worldspan as well as
Smartpoint, Focalpoint and Universal Desktop.
GDS and third party suppliers
In addition to seamless integration with the Travelport Travel Commerce Platform, eNett VANs can
also be integrated with Sabre, Amadeus and Abacus desktops.
Security
eNett complies with the Payment Card Industry Data Security Standard (PCI-DSS) audited annually
by a Qualified Security Assessor (QSA). We use AES-256 encryption for data communication the
recognised standard for financial institutions and government organisations.
COMPANY PROFILES
153
FULL SERVICE FOR NON-CASH

PAYMENTS IN EUROPE
> full service solutions for international non-cash and card payment transactions
in stationary and mobile e-commerce, mail order and at point of sale
> all major non-cash payment methods from a single source
> substantial know-how coupled with a well proven technical platform
> reliable fraud prevention tools
> unique online reporting and chargeback handling
> end-to-end transaction transparency
> repeatedly named best acquirer for international merchants
www.EVOpayments.eu
Company
EVO Payments
EVO Payments International offers international full-service solutions including debit and credit
card acceptance and other non-cash payment methods, risk minimisation and further value added
services. The acquirer and payment service provider is the exclusive card acquiring provider for
leading financial institutions and was repeatedly named best acquirer for international merchants.
Website
www.EVOpayments.eu
PSP, online payment, payment processing, multi-currency, PCI, ecommerce, m-commerce,

POS, alternative payments, after payments, acquirer, acquiring, receivables management,
liquiditymanagement
Contact
T +49 221-99577-0, F +49 221-99577-730, E info.EMEA@EVOpayments.com
Europe, North America via the EVO Payments International Group
Market segment(s)
All types of trade and service provison in e-commerce, e-mail and telephone order and at thepoint
ofsale, B2B and B2C.
Active since
2013 (1999)
Acquirer and payment service provider (PSP)
Payment methods
Credit cards
Visa, MasterCard, American Express, Diners Club, Discover, JCB, IKANO, AirPlus
Debit cards
Visa, V Pay, MasterCard, Maestro, Bancontact / Mister Cash, Carte Bancaire, Dankort, Girocard,
Pre-paid cards
paysafecard
Online banking
Giropay (DE), eps (AT), iDEAL (NL), Przelewy24
E-wallet
Alipay, Amazon Payments, Masterpass, PayPal, PayU, POSTPAY, QIWI Wallet, Skrill, Yapital
Mobile / SMS / IVR
mPass
Invoice and instalment service providers BillPay, BillSAFE, Klarna, PayByBill, PayProtect,
Teleingreso, RatePay
Offline
Invoice, cash-on-delivery, prepayment, direct debit (DE, AT, NL)
Numerous
Numerous
EUR, USD, GBP, CAD, CHF, CZK, DKK, HUF, JPY, NOK, PLN, SEK, ZAR and roughly
120transaction currencies.
GeldKarte, PostFinance
Services
Thanks to its highly qualified resources as well as detailed global and local expertise, EVO can
offer: higher sales and lower losses, less work and complexity, flexibility and tailor-made solutions,
more transparency and leaner procedures, better liquidity, security and reliability.
Core services
Acquiring for CNP, CP and ATM, payment service provision and receivables management.
Pricing
Pricing is based on individual calculation, please contact sales.EMEA@EVOpayments.com.
Collecting payments
Yes (acquirer)
Yes (acquirer)
3D Secure, Verified by Visa, MasterCard SecureCode, IP geolocation, multi-merchant purchase

history, global validation checks, velocity checks, data validation, geographical checking,
parameter format checking, transaction limit checking, risk scoring, geo IP-origin check, black /
white list, solvency checks, account checks, card checks, AVS, address verification services.
Retail decisions (ReD), arvato infoscore, BRGEL, Deltavista, Domnowski, SCHUFA, KUNO.
Receivables management, purchase on credit, payment guarantee, payment.
Other services
Comprehensive online administration tools free of charge: Automatic Information System (AIS),
Business Information System (BIS), Chargeback Information System (CIS) and Debtor Information
System (DIS); MOTO SSL terminal for easy and quick mail order transactions; extensions for
online-shop.
Third parties
Numerous
COMPANY PROFILES
155
Technology
156
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
Several data or GUI-based payment interfaces.
Security
HTT PS, SSL, HMAC, blowfish encryption, pseudo card numbers, first european acquirer to
become PCI-certified in 2004.
Company
First Atlantic Commerce

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
payment gateway, merchant accounts, global online payments, credit card processing, website
payments, payment service provider, internet payments, online payments, payment processing
Contact
Tricia Lines Hill, SVP, Business Development & Marketing. E: tlineshill@fac.bm, T:+1.441.294.4625
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 & VoIP, digital
content, ISPs, web hosting, social gaming, group coupons, licensed forex, education
Active since
1998
Payment Gateway and merchant account facilitator via partner banks
Payment methods
Credit cards
AmEx, Visa, MasterCard, Discover, Diners, CUP, JCB (bank dependent)
Debit cards
Visa and 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
No
Offline
Bank transfers (solution dependent), prepaid cards
14 acquirers
Acquirers and alternative payment providers (more information available upon request)
USD, EUR, AUD, HKD, DKK, SEK, ZAR, GBP, CAD, NZD, CHF, NOK, JPY, SGD, AED, MUR, KES,
Caribbean currencies
Services
- Custom, online, multi-currency payment solutions

- Secure, PCI DSS certified payment gateway
- Low transaction fees
- Global merchant accounts
- Specialize in the Caribbean
- Exceptional customer service and satisfaction
- Standalone AVS, Card ID Verification, 3-D Secure (via our MPI)
- Tokenization
- Hosted payment page
- Access to alternative payments through single interface
- 17 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.
FAC facilitates direct merchant accounts with acquiring banks.
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.
COMPANY PROFILES
157
Kount
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
Technology
158
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
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.rstatlanticcommerce.com
Today the act of payment is multi-dimensional.

We are at the heart of the rapidly evolving retailer-consumer
relationship. More than ever, Ingenico Group is a trusted
partner, uniquely positioned to reduce payment complexity
for banks and merchants while enhancing the consumer
experience. We guide them safely, offering them innovative
solutions to ensure that payments are simple and
fast, whatever the channel: in-store, online and mobile.
global
leader in
seamless
payment
www.ingenico.com
Company
Ingenico ePayments
Offering more than 300 local and international payment methods, we help merchants to manage,
collect and secure their payments and prevent fraud on any digital transactions in-App, cardbased 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
online payment, payment gateway, PSP, payment processing, multi-currency, PCI, full service,
omnichannel
Contact
David Jimenez, Vice President, Sales Ingenico ePayments +31 (0)23 567 1500
Market segment(s)
Digital Goods & Services, Video Gaming, Retail, Travel & Tourism, SMB, FX, Other
Active since
1994
payment service provider (gateway & collecting)
Payment methods
Credit cards
Visa, MasterCard, American Express, Diners Club International, Discover, JCB, UnionPay
International and more than 15 local cards across the globe.
Debit cards
Bancontact-Mistercash, Maestro, Giropay, Visa Electron, Dankort, CartaSi, Postepay, Visa Debit,
Pre-paid cards
Ukash, paysafecard
Online banking
iDEAL, Sofortberweisung/Sofort Banking and Giropay (Germany), Nordea Solo (Sweden, Finland,
Denmark), ING HomePay, KBC and Belfius Paybutton (Belgium), various banks in Poland, eNETS
(Singapore), bPay, Net Banking (India)
E-wallet
PayPal, WebMoney, cashU, Alipay, Yandex, Moneybookers (Skrill), Paylib, Masterpass
Mobile / SMS / IVR
Responsive Hosted Payment Pages, Native in-app payments (iOS & Android), Call Center
Application, Mobile-optimized payment products, tokenization
Direct Debits, Virtual bank accounts, Konbini (Japan), Pay-easy (Japan), Ukash, paysafecard,
Boleto Bancario, Western Union, Pago Facil, Invoicing, Cheques, QIWI, eNETS
Offline
Bank transfers worldwide acceptance, local acceptance in 55+ countries, payouts (cross-border
payments), cash and kiosk payments.
More than 20 acquirers.
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. Ingenico
also has partnerships established and are integrateD with all major shopping carts and eCommerce
platforms, including Magento, Demandware, Hybris, Intershop, Prestashop, DrupalCommerce,
eShare, Zuora, Micros, Sabre, Vindicia and Amadeus.
EUR, GBP, USD (others upon request)
MasterCard Debit, Cartes Bancaires CB.
Services
Developer-centric and mobile first platform, easy integration with REST API and SDKs, gateway or
full service processing, responsive payment pages, multi-acquirer set-up, global reach with local
expertise, payment consulting services, FX, Business Intelligence, Managed Fraud Services
Core services
Online payment processing, full service, multi-channel solutions and reconciliation information
(web).
Pricing
Upon request on a customized basis.
Collecting payments
Yes
Yes
COMPANY PROFILES
161
Device Fingerprinting, IP geolocation, controls & behavioral analysis, 3D Secure (Verified by Visa,
MasterCard SecureCode, American Express SafeKey, Diners ProtectBuy and JCB J-Secure, ),
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
Retail Decisions (ReD), Quova, Experian, Intercard & IATA Perseuss
N/A
Other services
Developer Portal with sandbox environment, REST API, Hosted Payment Pages, tokenization, PHP
SDK, Java SDK, JavaScript SDK, iOS SDK, Android SDK, currency conversion, multi-acquirer setup, 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
162
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
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
Limonetik, as an online enriched payment platform (PaaS), provides:
- one-stop technical solution for payment sector, connected to PSPs, payment gateways,
Alternative Payment Methods (APMs), marketplaces, e-merchants and acquirers in Europe, Asia
and the rest of the world;
- collecting settlement services;
- Bespoke solution on demand creation.
Website
www.limonetik.com
online payments, payment processing, alternative payments, innovative payment methods,

ecommerce, marketplace payment solutions
Contact
contact@limonetik.com
marketingww@limonetik.com
Europe, Asia Pacific
Market segment(s)
Marketplace, Retail, Travel, gaming, payment methods, PSPs, acquirers, insurances, banks
Active since
2008
payment processor, alternative payment method creator
Payment methods
Credit cards
Debit cards
Pre-paid cards
Ukash-Smart Voucher, paysafecard, Sprit of Cadeau, Pass Cadeau, CADOCarte, Sodexo, BEST,
Yesbycash, Illicado, Ticket Kadeos Online, Cadhoc, Carte Chque Lire, Carte Chque Culture,
Ticket Premium, etc.; gift cards for merchants: Wonderbox, Smartbox, La Redoute, Vente-Prive.
Online banking
Slimpay, Sofort
E-wallet
PayPal, v.me, Masterpass, Paylib, TenPay, Alipay, etc.
Mobile / SMS / IVR
Flashn Pay, Seamless, etc.
1euro, Cofidis 3xCB, Facilypay 3x or 4x, Klarna, carte privilge, Leetchi, Le Pot Communi, Lilyliste,
Bitcoin, Groupon, Chque-Vacances, e-Chque-Vacances, etc.
Offline
Payment Institution: SFPMEI, Webhelp/FDI, Tunz, Arkea, etc. Third party integrators: Orchestra,
Mirakl, Hybris
Ogone, Payline, Paybox, ATOS, etc.
All currencies
Services
Limonetik is an aggregator of APMs, 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 APMs directly or through original PSPs quickly and easily. Limonetik facilitates
collecting, settlement, and delivers better consumer experience, etc.
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
Collecting payments
Yes
Yes
We are connected to the PSPs, which have credit management services.
COMPANY PROFILES
163
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.
Technology
164
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
Rest API with WebServices based on XML or JSON.
Security
HTTPS
Lets innovate together
MAKING PAYMENT PROCESSING SAFE, SIMPLE AND SMART

INDUSTRY LEADING OMNI-CHANNEL PAYMENT GATEWAY & FRAUD MANAGEMENT SOLUTION
EXTENSIVE GLOBAL ACQUIRING NETWORK
OVER 45 LOCAL PAYMENT METHODS WORLDWIDE
MAXIMUM DATA SECURITY
WHITE LABEL CAPABILITIES
ONLINE
MOBILE
IN-STORE
CONTACT CENTRE
KIOSK
Email: gateway_sales@mastercard.com | Tel: +44 (0) 20 7421 9280 | Web: www.mastercard.com/gateway
Company
MasterCard Payment Gateway Services

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, its 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 business objectives.
Website
www.mastercard.com/gateway
PSP, digital payments, payment gateway, fraud prevention and risk management, international,
multi-channel
Contact
Sales team: gateway_sales@mastercard.com, +44 (0) 20 7421 9280
Europe, North/Latin America, Middle East/Africa, Asia Pacific
Market segment(s)
Retail, airline, travel and leisure, ticketing, gaming, digital content downloads, finance, education,
government, telecommunications and many others.
Active since
1997
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
storecards.
Debit cards
Maestro (International and Domestic), Visa Electron, Visa Debit, Laser, CarteBleue, Dankort, China
UnionPay, MisterCash/Bancontact & much more. Please contact gateway_sales@mastercard.com
for a full list.
Pre-Paid Cards/Cash Alternatives
paysafecard, ToditoCash, TeleIngreso, Neosurf, Dineromail, Boleto Bancario, Western Union.
Online banking
Yes
E-wallet
MasterPass, V.me, PayPal, ClickandBuy, Click2Pay, Moneta, Neteller, Skrill, WebMoney, Alipay,
Amazon Payments, CashU, ePay, Abaqoos, InstaDebit, EUTeller, Ewire, Apple Pay
Mobile/SMS/IVR
Yes
Over 45 alternative payment types worldwide and constantly growing (Europe, North/Latin America,
Middle East/Africa, Asia Pacific) including: AliPay, iDEAL, Giropay, ACH, BACS, CUP, eCheck, ELV,
Sofortberweisung, eps, WebMoney, Direct Bank Transfers & many more. Please contact us for a
full list and global coverage.
Offline
Bank transfer solutions available in most European countries.
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.
Please contact our sales team for more information.
MasterCard Payment Gateway Services can settle in to any currency supported by the acquiring
bank. Settlement currencies are acquiring bank dependant.
Services
One provider for all your global multi channel payments and fraud and risk management needs!
Access truly global capabilities and partner with one of the worlds leading brands, providing truly
global support with a business spanning 210 counties and enabling access to MasterCards unique
global network of over 140 banks, to further assist your international growth plans.
Core services
Omnichannel payment processing, fraud and risk management.
Pricing
For current pricing please contact our sales team: gateway_sales@mastercard.com,

+44 (0) 20 7421 9280
Collecting payments
Yes
Yes
COMPANY PROFILES
167
Fraud & Risk Management

(measures)
Full Verification Tools, real-time and near real-time screening of all card and alternative payment
types (including PayPass), globally shared negative database with integration into MasterCards
global positive and negative database, more than 130 rich data capture and checks, more than
350 complex rules specific to Industry, behavioural analytics, device ID, secure and dynamic webbased user interface, third party integrations such as Perseuss and MasterCards EMS (Expert
Monitoring System), full outsource fraud and risk management inclusive of screening reviews,
sophisticated fraud modelling, analytics and reports.
Fraud & Risk Prevention Partners
MasterCard Payment Gateway Services is integrated into multiple third party fraud prevention
partners including but not limited to: 192.com, Iovation, Google Maps, Perseuss, MasterCard,
Electoral roll, ThreatMetrix.
No
Other services
Cardholder present solution, hosted pages and tokenization solutions, dynamic currency
conversion, split shipment, recurring payments, payouts and sophisticated reporting management
service.
Third parties
Contact our sales team for more information.
Technology
168
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
Web Services API, XML over HTTPS as well as web services, SOAP + XML (specifications available
upon request)
Security
HTTPS, SSL+, PKI, Digital Certificates for merchant using Java and Unique Customer Identification
which is reset on a yearly basis.
BOOST YOUR
ONLINE SALES!
MultiCards Internet Billing is a provider of credit card
processing and payment solutions to thousands of
vendors worldwide. MultiCards offers a one-stop
solution for internet Billing, enabling you to accept
all major credit cards and other online payment
solutions. Simple and secure!
BOOST YOUR
ONLINE SALES!
Contact MultiCards and find out how you
Accept online payments
can easily boost your online performance!
Simple, exible
and reliable PAYMENTS:
with one of the most
ACCEPT
ONLINE
experienced payment solution providers in the

Netherlands. In business since 1995, MultiCards
Simple,
exible and reliable
with one
of the
most sales
experienced
payment
offers flsolutions
that boost
your
online
by 50-80%!
solution providers in the Netherlands. As one of the pioneers in the

sector
(since 1995), MultiCards
offersUSD
solutions that can boost your
Multicurrency
GBP, EUR,
online
sales
by 50-80%!
Easy
signup
and implementation: a one-stop shop
Realtime online account stats

GBP, EUR,
USD team
Multicurrency
24/7 technical
support
Easy signup and implementation: one-stop show
Contact
MultiCards and nd out how you can easily boost
Real-time online account stats
your online performance on www.multicards.com!
24/7 technical support team
MultiCards is a registered trademark and a division of PM International BV with international headquarters in The
Netherlands. MultiCards is PCI/DSS certied, ofcial Visa Merchant Agent.
Reason
enough to visit the global specialist at MultiCards.com
GET
SET
FREE UP!
CALL +31 (0)40 292637

OR VISIT
MULTICARDS.COM
TRIAL!
CALL +31(0)40 292 63 78
OR VISIT
MULTICARDS.COM
Company
MultiCards Internet Billing

MultiCards Internet Billing is a provider of online card processing and other payment options to
website businesses and retailers. MultiCards as a pioneer company has offered this type of service
since 1995 and is a PCI / DSS certified Payment Service Provider (PSP) and Payment Facilitator
(PF) operating their own gateway.
Website
www.multicards.com
payment service provider, online credit card processing, online payments, payment gateway,
directmerchants
Contact
Mr. Michel Hendriks, michelh@multicards.com, +1 877 292 6378/+31 40 292 6378
The Netherlands, Europe
Market segment(s)
Retail, travel, dating, other
Active since
1995
Payment methods
Credit cards
Visa, MasterCard, American Express, Diners Club
Debit cards
Visa Electron, Maestro
Pre-paid cards
Yes
Online banking
iDEAL (Dutch), Direct E-Banking (international)
E-wallet
Yes
Mobile / SMS / IVR
Yes
Yes
Offline
No

European banks
EUR, GBP, USD and other on request.
Services
Free tech support 24/7, personal service, real-time dedicated online account management,
longstanding history and expertise.
Core services
Online payment processing, reconciliation information (web), third party internet payment gateway,
direct merchant accounts through European bank.
Pricing
https://www.multicards.com/en/pricing/
Collecting payments
Yes
Yes
Fraud score, negative card database, bounce e-mail system, velocity checks, IP & Country
blocking and proprietary tools.
Maxmind, IPLocation, McAfee
No
Other services
PCI certified gateway for other PSP
Third parties
Third party internet payment gateway
Technology
170
Direct connections
Yes
Batch processing
No
Yes
Yes
Yes
Interface
Https post scripts and web templates, API, major shopping carts, Magento
Security
McAfee and Qualys scanning
Company
Nets A/S
Nets specialises in managing digital values digital money, digital information and digital identity.
We have one of the most extensive product portfolios in the payment industry in Europe and our
ambition is to become an even stronger partner to our customers by supporting their business,
nationally as well as internationally.
Website
www.nets.eu
payment scheme, payment gateway, PSP, card services, card management, fraud management,
online payment, payment processing, payment terminals, ecommerce, processor, acquirer, digital
identity, digitisation services, information services, real-time clearing
Contact
Nets Holding A/S, Lautrupbjerg 10, 2750 Ballerup, Denmark, Telephone: +45 44 68 44 68
Northern Europe: Denmark, Norway, Sweden, Finland, Baltics
Market segment(s)
Banking sector, individual banks, merchants and corporates
Active since
1968
By and large, Nets is a managed service provider. In some busniess areas (e.g., eSecurity, Mobil
wallet), Nets also offers client software.
Payment methods
Credit cards
AmEx, JCB, MasterCard, Visa, CUP
Debit cards
Dankort, BankAxept, VISA Elektron, Maestro
Pre-paid cards
Prepaid cards, prepaid closed loop (private label cards), gift cards
Online banking
Online bank services
E-wallet
Whitelabel wallet for individual banks.
Mobile/SMS/IVR
SMS Services
Loyalty cards, giro payments, debit and credit transfers.
Offline
Extensive views of offline in POS terminals.
For more info, please contact the company.
Nordea, Swedbank, Handelsbanken, Elevon
Services
A trusted provider of many mission and nation-wide critical payment and digital identity
infrastructures, which serve all the citizens in Denmark and Norway. For merchant Nets delivers
online and mobile commecre, POS terminals and acquiring. services. Other key services include
e-invoicing, archiving, signing, distribution services.
Core services
Card and payment infrastructures.
Pricing
Individual
Collecting payments
Full risk management system including: real-time surveillance of issuer and acquirer transactions,
pro-active blocking, merchant applications, data investigation.
SAS Institute
No
Other services
Domestic and SEPA direct debit and credit transfer payment scheme management, clearing
services, hot back-up 24/7.
Third parties
Across all business areas, Nets offerings are built on many standardised third party platforms and
technologies.
COMPANY PROFILES
171
Technology
172
Direct connections
Yes
Batch processing
Yes
No
Yes
Yes
Interface
Security
Company
NOIRE
NOIRE is a leading UK-based boutique payment and fraud risk solution provider. The company
offers internet merchant accounts and bespoke payment gateway technology, along with
pioneering the most advanced risk management and fraud protection technology for companies
ranging from FTSE listed companies to small start-up businesses.
Website
noirepay.com
payment scheme, payment gateway, PSP, online payment, payment processing, payment
institution, multi-currency, PCI, ecommerce, forex, gaming, alternative payments, afterpayments,
processor, acquirer
Contact
info@noirepay.com
UK, Europe, America, Middle East/Africa, Asia/Pacific
Market segment(s)
Forex, insurance, gambling, gaming, retail, travel ecommerce
Active since
2012
Payment service provider, payment institution, alternative payment provider, payments gateway,
fraud risk technology provider
Payment methods
Credit cards
Amex, MasterCard, Visa, Carte Bleue, JCB, Visa, Discover, giropay, Sofort, Delta, Alipay, China
UnionPay, plus over 220 others.
Debit cards
Maestro, Giropay, BCMC, (e)Maestro, Visa electron, Dankort, Laser, Delta, Carte Bleue, CartaSi,
Postepay, Visa Debit, BancNet, PPS, China UnionPay, Alipay, 99Bill, eNETS, MEPS, Poli, Visa CPC,
Debit Mastercard, Carte Bancaire, CartaSi, Carte Bleue, Chinese debit cards, Carte Blanche, plus
many others.
Pre-paid cards
Online banking
No
E-wallet
Mobile / SMS / IVR
SMS verifications in all countries.
Bitcoin, e-wallets
Offline
All supported by Visa MasterCard card schemes.
Services
Technology platform combined with leading payment types, fraud risk management and deep
domain expertise in regional payment strategies and fraud risk management.
Core services
Online payment processing.
Pricing
Collecting payments
Yes
Yes
Device fingerprinting, consortium shared datebase of fraud events, 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
NOIRE is a fraud risk management solition provider along with payments technology.
Other services
Third parties
COMPANY PROFILES
173
Technology
174
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
Web services, SOAP, XML, hosted payment pages
Security
PCI level 1
Company
ONPEX GmbH
ONPEX is an award-winning, white-label cloud payment Platform as a Service (PaaS) supporting
omni-channel, local and international card processing, alternative payment methods and payment
related solutions. ONPEX PaaS is designed for the automation of financial institutions, payment
systems, payment service providers and ISOs. The ONPEX Acquiring Network simplifies the
complexity of cross-border payments.
Website
www.onpex.com
white-label technology, cloud-based payment platform, global acquiring network, payment account
management, connectivity, award-winning payment solution
Contact
connect@onpex.com; Germany: +49 89 41614310; USA: +1 888 5059194;

Hong Kong: +85 2580 87187
Global
Market segment(s)
All
Active since
2013
White-label payment platform and global acquiring services.
Payment methods
Credit cards
AmEx, VISA, JCB, MasterCard, Diners, Discover, UnionPay
Debit cards
Vpay, Maestro, Carte Bleue and many local and co-branded cards.
Pre-paid cards
paysafecard, Astrocard
Online banking
Sofort, iDEAL, Giropay, EPS, Trustpay, Trustly, Przelewy24, Postfinance, Mazooma
E-wallet
PayPal, QIWI, Alipay, Tenpay, Neteller, Skrill, Cashu
Mobile / SMS / IVR
Hosted solutions for iOS and Android. Global coverage for SMS/IVR/mobile carrier billing through
partners.
Any alternative payment method worldwide with a reasonable business case.
Offline
Bank transfer, Boleto Bancario, Oxxo, Pago Efectivo
Over 100 acquirers, risk management services and more.
Acquirers, alternative payment methods, 3D Secure MPIs, risk management solutions,

chargebackmanagement networks, information services, KYC checks. Please contact us for
fullconnectivity list.
More than 40 different currencies
Services
White-label payment platform as a service; omnichannel support for ecommerce, m-commerce,

MOTO, mPOS and POS.
Connectivity to hundreds of payment products and solutions on one unified platform; multi-level
hierarchy support for partner and merchant structures; simple integration and fully API controllable
platform; global acquiring network for card and alternative payment methods.
Core services
White-label payment platform and global acquiring services.
Pricing
Upon request. Please contact ONPEX for your individual solution and pricing.
Collecting payments
Yes
Yes
Own risk prevention module and connectivity to external risk management service providers:
3DSecure, n-level cube data relation filters.
Kount, WebShield, Ethoca, Verifi, etc.
No
Other services
White label portal and gateway, dynamic checkout, standard and risk based 3D-Secure, responsive
payment pages, recurring billing, one click payments, tokenisation, mobile POS solution. All
ONPEX solutions are made to be customized for you.
Third parties
Platform is complety developed in-house.
COMPANY PROFILES
175
Technology
176
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes, dynamic and responsive embedded payment forms.
Interface
REST full webservice, XML, Json, Reporting CSV, XML, SDKs for Java, PHP, iOS and Android.
Security
PCI Dss version 3.1 compliant, ISO/IEC 27001:2005 certified datacenters.
one platform:
endless solutions
white-label payment platform
branded gateway and portal with full API control
omni-channel support
mobile, mPOS, POS, eCom, MOTO, EMV
global acquiring network

international card and alternative payment schemes
payment account management

integrated billing, reconciliation and settlements
Germany
+49 89 41614310
USA
+1 888 5059194
Hong Kong
+85 2580 87187
The Online Payment Exchange
connect@onpex.com
www.onpex.com
partner focused. technology driven.
Company
PacNet Services Ltd.

PacNet is a leading international PSP that specializes in processing cross-border transactions
in local currencies for ecommerce and direct response companies. In addition to international
merchant accounts and CNP transaction processing, PacNet also offers multi-currency cheque,
postal order, direct debit and refund processing.
Website
www.pacnetservices.com
electronic payment processing, cheque processing, loan advances, loan repayments, recurring,
multi-currency, credit card processing, international payment processing.
Contact
Brendan Mahar, VP Sales North America; Brian Weekes, VP Sales Europe;

Stuart Ballan, Head of Sales, Middle East
Global
Market segment(s)
Ecommerce, catalogue, mail order, nutriceutical, cosmetic, online lending, charity, not-for-profit
Active since
1994
Payment service provider
Payment methods
Credit cards
Visa, MasterCard and all international Visa, MasterCard branded credit cards.
Debit cards
Maestro, Visa Electron, Carte Bleue, CartaSi, Visa Debit, Debit MasterCard, Dankort, all Visa /
MasterCard partnered brands
Pre-paid cards
Yes
Online banking
Yes
E-wallet
No
Mobile / SMS / IVR
Yes
Yes
Offline
Cheque and postal order processing, direct debit / check by phone, bank transfer collection,
cheque Issuing
Currencies of all major and many developing markets.
Services
PacNet offers one-stop access to a global menu of local payment services enabling merchants to
securely accept more payments in more places without long lead times or high fees.
Core services
Online payment processing, cheque processing
Pricing
Upon request
Collecting payments
Yes
Yes
Full risk management system including risk scoring and flagging, black/white list, as well as easy
integration to third party providers.
DataCheck, FraudPrevent, MaxMind
Purchase on credit, payment guarantee
Other services
No
Third parties
No
COMPANY PROFILES
179
Technology
180
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
RAVEN online interface, RAVEN API, MarketDirect Secure Hosted Payment Page
Security
PCI compliant solutions
Company
PAY.ON
PAY.ON delivers white label global payment gateway solutions to payment service providers, ISOs,
acquirers, ISVs, and VARs, enabling them to fully outsource payment transaction processing or
integrate a gateway-to-gateway solution. Modular solutions enable payment providers to rapidly
increase revenues, reduce costs and risk, and accelerate expansion into international markets.
Website
www.payon.com
payment gateway, white label platform, ecommerce, m-commerce, alternative payments, crossborder payment processing, open payments, RESTful API
Contact
PAY.ON Sales Team: sales@payon.com tel: +49 89 45230 0
Global
Market segment(s)
Ecommerce, m-commerce, mPOS, gaming, retail, other
Active since
2004
Payment service provider, payment gateway, open platform provider, 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.payon.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.payon.com for further details.
Pre-paid cards
ELO, MangirKart, paysafecard, Ukash
Online banking
Includes: POLi II, China UnionPay, AstroPay, iDEAL, sofortbanking/sofortberweisung, TrustPay,

Webmoney, Przelewy24 Dialcom 24 Sp.z.o.o., Skrill Direct, Giropay, Paytrail, eps, Trustly. Visit
http://globalcoverage.payon.com for further details.
E-wallet
PayPal, Alipay, CashU, Skrill (Moneybookers), OneCard, QIWI, ClickandBuy, iPara, Yandex Money
Mobile/SMS/IVR
mopay, DaoPay, Kanzaroo, paybox
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), sofortberweisung/sofortbanking,
Trustly, TrustPay, Ukash, Virtual currencies (credits) in online games, Webmoney, Yandex Money,
7Eleven. Visit http://globalcoverage.payon.com for further details.
Offline
Includes: Boleto Bancario, Oxxo, 7Eleven, Banelco, Bapropagos, Link, PagoFacil, Cobro
Express, ProvinciaNet, RIPSA, ServiPag, AstroPay, RedPagos, and Rapipago. Visit
http://globalcoverage.payon.com for further details.
More than 300 connected aquirers and alternative payment methods, part of a global payment
network that is constantly expanding.
See interactive list of Global Coverage: http://globalcoverage.payon.com
All currencies supported by connected acquirers and payment methods.
Services
Open Payment Platform based on RESTful API architecture and available as a full white label
solution. The scalable, flexible, and secure platform is tailored to meet the specific needs of
PSPs, acquirers, ISOs and other payment providers. PAY.ON supports clients with a non-compete
guarantee.
COMPANY PROFILES
181
Core services
Core payment gateway provides cross-border payment processing, PCI-compliant merchant

boarding, and access to more than 300 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
Transaction based pricing. For current pricing, please contact our payment experts:
www.payon.com/contact
Collecting payments
No
No
Active Payment Method Selection, device fingerprinting, IP geolocation, semantic customer

validation, algorithmic and database account validation, velocity checks, payment type and ticket
size restrictions, plausibility checks, correlation checks, fraud-detection algorithms, authentications
methods, AVS verification, 3D Secure (Verified by VISA, MasterCard SecureCode, AmEx Safekey),
OneClickSafe, additional third-party checks.
More than two dozen risk connectors, including: ReD, ThreatMetrix, Kount, Payprotect, Datacash,
Schufa, Telego, Deltavista, Deutsche Post Address, Intercard, Creditreform Boniversum, Arvato
Infoscore.
N/A
Other services
Open Payment Platform, 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
No
Technology
182
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
Open Payment Platform based on RESTful API architecture
Security
PAY.ON is PCI DSS Level 1 Certified, and offers state-of-the-art payment infrastructure according
to best practice security standards. PAY.ON clients are automatically PCI DSS compliant when
processing through the PAY.ON platform.
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YOUR PAYMENT
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TO THE WORLD
EXPAND YOUR INTERNATIONAL FOOTPRINT AND REDUCE FRICTION IN
GLOBAL PAYMENTS WITH PAY.ONS SCALABLE, FLEXIBLE, AND SECURE
OPEN PAYMENT PLATFORM.
PAY.ONs RESTful open API provides a single integration point and access to
PAY.ONs global payment network of alternative payment methods, local
acquirers, and external risk checks, plus an architecture that can be leveraged
by developers to build their own payment apps and features.
SIMPLE
INTEGRATION
SALES@PAYON.COM
FLEXIBLE
ARCHITECTURE
SECURE
PLATFORM
+49 89 45230 00
PAYMENT FOR YOUR ONLINE SHOP

Why complicate matters?
You are looking for the ideal payment solution for your
online store? You want a partner who can handle your
entire payment process in an easy and automated way
via one single platform? For both you and for your
customers? Then PAYONEs payment solutions are
the right choice for you.
Request your quote now!

Phone +49 431 25968 400
sales@payone.de
www.payone.de
All payment methods for successful e-commerce

Integrated risk management
Fully automated and on a single platform
Simple integration thanks to genuine PlugnPay
Only pay for what you actually use
Company
PAYONE GmbH
PAYONE is one of the leading bank-independent payment service providers in Europe. The modular
platform is a SaaS solution designed to provide companies with an automated processing for all
payment transactions in ecommerce. PAYONE was founded in 2002 and has more than 2,500
ecommerce customers from different industries and countries.
Website
www.payone.de
PSP, payment gateway, online payment, payment processing, online shop, PCI DSS, ecommerce,
integrated risk and debtor management
Contact
sales@payone.de, +49 431 25968-400
Europe
Market segment(s)
Retail, Digital Content, VoD, Paid Services, Gaming, Ticketing, Other
Active since
2002
Payment methods
Credit cards
AmEx, JCB, Visa, MasterCard, Diners Club, Discover
Debit cards
Bancontact/Mister Cash, Maestro, Visa electron, Dankort, Laser, Delta, Carte Bleue, CartaSi,
Postepay, Visa Debit, Carte Bancaire, CartaSi, Carte Bleue etc.
Pre-paid cards
Please contact PAYONE for more information.
Online banking
giropay, SOFORT Banking, iDEAL, eps electronic payment standard, PostFinance E-Finance,
Przelewy24
E-wallet
PayPal
Mobile / SMS / IVR
PAYONE In-App Payment SDK for iOS, Android and Windows Phone.
Virtual currency (credits) in online games
Offline
Bank transfers in most European countries, prepayment, cash on delivery, invoice.
More than 2500.
Please contact PAYONE for a complete list of connected processors, acquiring banks and other
partners.
Worldwide
Services
Software-as-a-Service solution, all payment methods for successful ecommerce, integrated risk
management, simple integration thanks to genuine PlugnPay; only pay for what you actually use;
payment expertise for more than 10 years; highest security standards, customer service by highly
experienced and specialised employees, annual multi-billion EUR clearing volume.
Core services
Payment platform for online payment processing, risk and debtor management, invoicing and
subscription handling.
Pricing
Interested merchants always get an individual offer that combines our services in a package
perfectly fitting the needs.
Collecting payments
PAYONE offers comprehensive risk checks and automatically analyses all payment processes in
the background to detect potential fraud patterns and risks of non-payment. We provide you with
a variety of checks to minimise payment defaults and fraud. Address checks, bank account check,
BIN check
BIN country filter, credit assessments, credit card check
IP check, IP country filter, POS lock file, velocity check
Please contact PAYONE for a complete list of connected partners.
Yes, via partner, but fully integrated.
COMPANY PROFILES
185
Other services
Standardised extensions and a large number of interfaces allow an easy integration of the leading
ecommerce systems to the PAYONE platform. Software development kits for integration with PHP
and Java applications, premium customer service, consulting services including workshops and
trainings.
Third parties
The PAYONE platform is developed and maintained in-house.
Technology
186
Direct connections
Yes
Batch processing
Please contact PAYONE for more informations
Yes
Yes
Yes. Full customisable in look and feel, supporting one-click shopping, multi-language, split
payments and many other features.
Interface
Four different interfaces, including an https-based server API for platform-independent serverto-server communication, a client API for AJAX-style integrations, a fully customizable virtual
terminal with automatic redirect capabilities, as well as a telesales interface for manual transaction
processing. In-App Payment SDK available for iOS, Android and Windows.
Security
PCI DSS Level 1 certified, SSL/TLS 1.2, ECDH, PFS, ISO27001 certified datacenters
Company
Paytrail Plc
Paytrail Plc is the leading online payment service provider in Finland. We co-operate with banks
and other financial institutions as well as software service providers enabling more efficient online
payments. Our payment service offers a straightforward solution for companies, organizations and
consumers. We are part of Nets.
Website
www.paytrail.com
payment gateway, PSP, online payments, ecommerce, alternative payments, finland, online
shopping
Contact
sales@paytrail.com, Tel. +358 207 181 824
Regional: Europe
Market segment(s)
From Global 2000 companies to SMEs and non-profits. Physical and intangible goods, digital
content and gaming.
Active since
2007
Payment methods
Credit cards
JCB, Visa, MasterCard, Diners
Debit cards
Visa, Visa Electron, MasterCard
Pre-paid cards
Online banking
Yes
E-wallet
Paytrail account, PayPal
Mobile / SMS / IVR
Klarna, Collector and Jousto invoice and installment payment services.
Offline
About 350 ecommerce platform service provider partners, 20 payment method provider partners
and 10 distribution partners across Europe.
20 payment method provider partners and 10 distribution partners.
EUR. Settlements allowed to non-EUR accounts, too.
Services
Connecting you to 5 million Finnish consumers. Offer each customer their preferred payment
method. We provide epayments to all Finnish banks, credit cards, invoice and installments and
Paytrail account. Paytrail account is the only wallet you will need for selling in any channel.
Seamless buying experience anywhere.
Core services
Online payment processing, merchant account, collection, settlements, reconciliation, automated

accounting reports, fraud prevention, cross border transactions, Paytrail account
Pricing
For merchants: monthly fee EUR 59 and transaction fees. No opening or setup fee. For consumers,
Paytrail account is completely free. For detailed pricing, visit: http://www.paytrail.com/en/pricing
Collecting payments
Yes
Yes
Fully automated risk analysis and control platform with over 100 checks included in the monthly
fee. Anti Money Laundering (AML) measures, IP geolocation, credit scoring, address verification,
VISA CVV2 and MasterCard CVC2, Verified by VISA, MasterCard SecureCode, blacklisting, strong
authentication, statistical transaction analysis and much more.
Payment guarantee, invoicing and installment payments (consumer credit service).
COMPANY PROFILES
187
Other services
Collection, settlements and reconciliation with any tax rate included. Fraud prevention included.
Multichannel customer service for merchants and consumers is available in English, Swedish and
Finnish. Direct connection to any payment method available with sellers own merchant account.
Third parties
Technology
188
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
HTTPS Post, Web services (SOAP and REST), Hosted embedded widget, Hosted page, Payment
page bypassing
Security
HTTPS, TLS/SSL, PKI
Connecting You to
5 Million Finnish Consumers
www.paytrail.com
Take advantage of the high growth rates where PayU has local offices
Certified
Company
PayU
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
PSP, online payments, PCI certified, multi-currency, global payment provier, alternative payments,
cross border payments, payment processing, fraud management, payment gateway
Contact
sales@payu.com
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
Payment service provider, payment gateway, acquirer (in certain markets), alternative payment
method
Payment methods
Credit cards
AmEx, Visa, MasterCard, Diners, Elo and local co-branded cards.
Debit cards
Maestro, Visa electron and many local brands worldwide.
Pre-paid cards
Aiertel Money
Online banking
Many worldwide
E-wallet
PayU Money, PayU Wallet, PayPal, QIWI, BKM Express and many more.
Mobile/SMS/IVR
Call2Assist, Call2Monitor and Call2Pay
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.
Numerous companies in each country.
A wide variety of major banks, acquirers and technology providers.
EUR, USD, ARS, BRL, CLP, COP, CZK, HUF, INR, MXN, NGN, PEN, PLN, RON, RUB, TRY, ZAR
Services
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 more than 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.
Collecting payments
Yes
Yes
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, etc.
In-house fraud system, ThreatMetrix, F-Control and more.
Payment in instalments, online void and refund, payment guarantee, buyer guarantee in some
markets, connected to several credit institutions.
COMPANY PROFILES
191
Other services
Fraud prevention (anti-fraud module and control/monitoring transaction services), 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
For more information, please contact us at sales@payu.com
Technology
192
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
API(WEBServices): RESTful (XML and JSON) WEBCHECKOUT: HTTP POST
Security
PCI-DSS Level 1 compliance, HMAC, HTTPS, Redundant network infrastructure, RSA, Secure
platform certified by McAfee and VeriSign, TLS/SSL, Tokenizer, WS-Security, TPM, Data Centers
SAS 70 type II certified, AES, MFA, IDS, WAF
Company
Payvision
Payvision, independent payment solution provider, offers Acquiring Banks and PSPs/ISOs a secure
PCI-DSS/PSD international payment processing platform. Payvision provides its customers 24/7
Support, 150+ transaction currencies and regional card settlement currencies, a high-end reporting
interface and a solid risk management solution. Payvision empowers its ecommerce partners to
make flawless cross-border transactions.
Website
www.payvision.com
payment solutions provider, global acquiring, cross-border ecommerce
Contact
press@payvision.com / +31 2079 423 00 Netherlands office
New York, Utah, San Francisco, Madrid, London, Berlin, Singapore, Tokyo, Hong Kong and Macau,
Auckland
Market segment(s)
Online payment processing, cross-border e-commerce, ecommerce
Active since
2002
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,
VisaCPC, Debit MasterCard, Carte Bancaire
Pre-paid cards
No
Online banking
iDEAL
E-wallet
No
Mobile / SMS / IVR
Yes
Yes
Offline
No
More than 300 PSPs
No
CAD, CHF, CZK, DKK, EUR, GBP, HUF, ISK, JPY, NOK, PLN, SEK, THB, TRY, USD, ZAR, AUD,
HKD, NZD, INR, MYR, SGD
Services
With one of the fastest-growing global acquiring networks in the world, Payvision connects banks,
PSPs, ISOs and more than 5,000 web merchants, to ONE Global Acquiring Platform, processing
+100 million transactions a year. Through the launch of Acapture, a new global omnichannel PSP,
Payvision developed the most comprehensive payment solution available for boosting conversion
rates.
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
Collecting payments
Yes
Yes
Payvisions Best Practice internationally approved Underwriting Protocol, with a solid and secure
card payment processing platform and high-end Reporting Tool and 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).
In-house solutions
Credit transactions, receivables management, online void and refund
Other services
Mobile payment systems
Third parties
Acapture
COMPANY PROFILES
193
Technology
194
Direct connections
Yes
Batch processing
Yes
Yes
No
Yes
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
PostFinances e-payment 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
PSP, online, payment, Switzerland, virtual, shop, easy, connect
Contact
merchanthelp@postfinance.ch, +41 848 382 423
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
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
Mobile/SMS/IVR
mPass; V.me
RatePay, Klarna, AfterPay, Billpay, FIS; collect
Offline
Bank transfer, Payment by e-mail
N/A
N/A
N/A
Services
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
Yes
N/A
PCI DSS, 3D Secure, blocking rules and filters, scoring module
Ethoca, Perseuss

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
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
Saas
Security
HTTPS, SSL+, PCI-DSS Level 1
COMPANY PROFILES
195
DIFFERENT COUNTRIES.
DIFFERENT CULTURES.
DIFFERENT PAYMENT
PREFERENCES...
Payment preferences differ significantly from country to country Chinese consumers

prefer Alipay, Germans tend to use direct bank transfer, online banking is highly
popular with Finnish consumers and the majority of Dutch online shoppers chose to
pay via iDEAL. PPRO serves PSPs and financial institutions with acquiring, processing
and issuing services. By offering a vast range of alternative payment methods with
only one contract and one integration PPRO takes out the complexity of e-payment.
www.ppro.com
Company
PPRO Group
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
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
North America, Latin America, Europe, Middle East and Africa, Asia-Pacific
Market segment(s)
Retail, travel, gaming, auction, other
Active since
2006
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
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,
Trustly, FINNISH ONLINE BANKING, MyBank, Bank Transfer, Sofortberweisung, QIWI payout,
International pay-out, SEPA payout
E-wallet
Alipay, Skrill, QIWI, Pugglepay
Mobile/SMS/IVR
Bancontact/MisterCash, iDEAL, Instant Transfer; paysafecard, Poli, PugglePay, QIWI, Safetypay,

Skrill, Sofort, Trustly, Trustpay
Alternative payment methods for more than 100 countries.
Offline
Boleto Bancario, Ticket OnLine, teleingreso, Multibanco, Pago Fcil, Rapi Pago, Ripsa, Cobro
Express, Link, Provincia NET, Davivienda, Efecty, Banamex, Santander Mexico, OXXO, Bancomer,
BCP, interbank, redpagos
More than 65 payment methods.
Alipay, Worldline, POS Transact, AIB Merchant Services, Trustpay, Allied Wallet, iDEAL,
MasterCard, Visa, Raberil, Worldpay, Computop, Sage Pay, eMerchantPay, SafetyPay, Lateral,
Safecharge, Qandy and many more.
AUD, BGN, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, JPY, NOK, NZD, PLN, RON, SEK, TRY,
USD, ZAR
Services
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
Collecting payments
Yes
Yes
Internal and external risk systems; manual monitoring done by risk experts.
Schufa, Infoscore, Intrum Justitia, Crif, Brgel, Experian, Keesing Technologies, Deutsche Post,
EOS, webID
COMPANY PROFILES
197
No
Other services
VIABUY, Crosscard, Fleetmoney, InstantTransfer
Third parties
NA
Technology
198
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
Web services (specifications available upon request). Simple integration, unified interface for all
payment types
Security
HTTPS, TLS, PKI, PCI DSS
Company
RatePAY GmbH
RatePAY offers local payment methods with payment guarantee such as open invoice, instalment
with real-time online check and instant acceptance, direct debit and prepayment in DE, AT and CH.
The company, based in Berlin, was founded in December 2009 and has more than 80 employees.
RatePAY is a member of the Otto Group.
Website
www.ratepay.com
Ownership
Parent company
Business model
Payment (with payment guarantee for merchants)
online payment, payment guarantee, open invoice, instalment, SEPA direct debit, prepayment,
online shop, factoring
Contact
info@ratepay.com, +49 30 339 88 56-0
Germany, Austria, Switzerland
Main client industries
Retail (fashion, living and accessoiries, food), travel
Active since
2009
Payment service provider, alternative payment methods, processor, business process outsourcing
(BPO)
Payment type
Debit card
N/A
Online Banking enabled Payment
N/A
E-wallet
N/A
After payment
Escrow
Prepaid
Other channels
Offline
Mobile
Online to offline
Services
RatePAY is specialized on flexible and individual solutions. It covers preferred local payment
methods in DE, AT and CH with a 100% payment guarantee. Products can be chosen as all-in
package or module systems to fit specific needs. Furthermore white label and communication of
the merchants look and feel are offered.
Core services
Online payment processing, risk and fraud management, refunding to buyer, collection, dunning,
customer service.
Multi-currency/Dynamic currency
conversion
EUR, CHF
Chargeback/Refund options
Included. Chargebacks are not applicable anymore because of payment guarantee.
Buyer protection policy
Yes. Buyer pays after receiving order.
Pricing
Please contact us to get the best possible offer.
Fraud prevention (measures)/

Riskmanagement
Full risk management system including: data checks, credit checks, fingerprinting, velocity checks,
credit bureaus.
RiskIdent, own solution
Acceptation criteria (sign-up

process)
Merchant: KYC check; consumer: no registration, address and risk check.
Other services
Multichannel solution, modular solution, consulting
Future developments
Please contact the company for more information.
COMPANY PROFILES
199
Technology
Integration technology
XML
Integration support
API, Shop modules, payment service provider, ERP, payment page
Transactions volume
200
Number of transactions (per year)
N/A
Transactions value
Please contact the company for more information.
Company
Realex Payments
Realex Payments, a division of Global Payments Inc., is one of Europes leading payment solution
providers, processing in excess of GBP 23bn per annum on behalf of 13,000 clients. Over the
past decade, Realex Payments has established a strong reputation in the industry and amongst
its customers for expertise, payments knowledge and dedication to excellent customer service.
Itsclients include Virgin Atlantic, Paddy Power and Aviva.
Website
www.realexpayments.com
payment gateway, online payments, mobile payments, payment processing, virtual terminal,
ecommerce, merchant account, acquiring
Contact
Dave Wills, UK General Manager and Sales Director. E-mail: dave.wills@realexpayments.co.uk
Ireland, UK and mainland Europe
Market segment(s)
Provides services to a wide range of sectors including retail, insurance, gaming, finance, travel,
education, ticketing, utilities, entertainment, IT, healthcare, digital media and charity
Active since
2000
Payment gateway, merchant services
Payment methods
Credit cards
Visa, MasterCard, AmEx, CB, JCB, Diners, Discover
Debit cards
Visa Debit, Debit MasterCard, Maestro, Carte Bleue, Carte Bancaire
Pre-paid cards
Yes
Online banking
SOFORT Banking and iDEAL
E-wallet
PayPal Integration
Mobile / SMS / IVR
Integrated with a range of IVR providers
PayPal, SOFORT Banking, giropay, iDEAL, ELV and access to a wider range on request.
Offline
No
More than 200 acquirers
Acquirers, ecommerce platforms, industry specific platforms, e.g. insurance, travel and airline
platforms, IVR solution providers, 3rd party fraud management solution providers
All major currencies.
Services
A complete payment solution for telephone, online and mobile. Merchants can get their online
payments up and running quickly integration can be completed in less than five minutes. Expert,
award winning support and account management. Merchants get through to a payment expert
when they call not an IVR.
Core services
Online payment processing, telephone payment processing, responsive and customisable hosted
payment page, online reporting and reconciliation, card fraud management, card storage and
tokenisation, recurring payments, managed services, best in class customer service
Pricing
For current pricing see: www.realexpayments.com
Collecting payments
Yes
Verified by Visa, MasterCard SecureCode, American Express Safekey, device fingerprinting, IP

geolocation, multi-merchant purchase history, global validation checks, velocity checks, pattern
checking, data validation, geographical checking, parameter format checking, transaction limit
checking, risk scoring, geo IP-origin check, blacklists, whitelists, greylists, proxy piercing, identity/
KYC checking, manual review queue, passive mode, Address Verification Service, CVN Checking
Provides access to third party fraud management solution providers.
No
Other services
Multi-currency, Dynamic Currency Conversion, dynamic routing
Third parties
Please contact us for detailed information
COMPANY PROFILES
201
Technology
202
Direct connections
On request
Batch processing
Yes
Yes
Yes
Yes
Interface
XML API (specifications on request), Hosted Payment Page
Security
PCI DSS 3.0 compliant. Audit passed for PCI DSS 3.1 will be 3.1 compliant after November 2015.
Company
Saxo Payments
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 bank transfers anywhere in the world.
Website
www.bankingcircle.com
low cost, fast cross border global transfers
Contact
Miranda McLean mm@saxopayments.com
Global
Market segment(s)
PSP, online payment, payment processing, cross-border payments, global payments, FX, Forex,
global transactions
multi-currency, PCI, ecommerce, alternative payments, afterpayments, processor, acquirer etc.
Active since
2013
Payment Service Provider
Payment methods
Credit cards
Debit cards
Pre-paid cards
N/A
Online banking
Transfers available in most countries and most currencies.
E-wallet
N/A
Mobile / SMS / IVR
N/A
N/A
Offline
N/A
N/A
N/A
AUD,CAD, CHF, CZK, DKK, EUR, GBP, HRK, HUF, ILS, JPY, MAD, MXN, NOK, NZD, PLN, RUB,
SEK, TRY, USD
Services
The Banking Circle provides a faster, more cost-effective way for businesses to make and receive
international payments. Cross-border transfers happen in seconds, at very low cost, in multiple
currencies and in a secure cloud-based environment. Members of the Banking Circle can offer
own-branded global banking services to their merchants.
Core services
Low cost cross-border transfers; fx trading
Pricing
For more details, please send an email to info@saxopayments.com
Collecting payments
Yes
Yes
Other services
Third parties
COMPANY PROFILES
203
Technology
204
Direct connections
Yes
Batch processing
Yes
Yes
No
Yes
Interface
Web services, SOAP, XML (specifications available upon request).
Security
WHY IS IT SO DIFFICULT
TO DO INTERNATIONAL BANK TRANSFERS?

It isnt with the Saxo Payments Banking Circle
International bank transfers in seconds, rather than days
Low transfer costs
Competitive FX rates
Find out more at bankcir.com
sales@securetrading.com
www.securetrading.com
+44 (0) 808 301 8549
WERE RIGHT WITH YOU

EVERY STEP OF THE WAY
Working with a new payment provider can sometimes feel like a
leap into the unknown. At Secure Trading we believe in forming
true long lasting partnerships with our clients, offering our extensive
experience to provide best-of-class managed services from a high
performance gateway, best-of-breed acquiring and cutting edge
cyber security solutions all under one roof.
You can now jump into payments with confidence.
ONE RELATIONSHIP | ONE PARTNER | ONE SOLUTION
Company
Secure Trading
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 endto-end payment solutions across the entire payments journey.
Website
www.securetrading.com
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-border merchant services, increase conversion rates, 100%
uptime record
Contact
sales@securetrading.com
North America, Europe, Africa
Market segment(s)
Ecommerce, gaming, digital entertainment, government services and education, financial services
Active since
1997
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
paysafecard, Sofort, EPS, Giropay,POLi, AliPay, Yandex, QIWI
Offline
#30 Acquirers
AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, JPY, NOK, NZD, PLN, SEK, USD, ZAR, HUF, RUB
Services
One relationship, one partner, One stop shop, Chargeback and fraud management, Multiple
payment options, Mobile optimised payment pages, Cross boarder 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
No
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, etc.
ReD (ACI)
Other services
Cyber-security
Third parties
COMPANY PROFILES
207
Technology
208
Direct connections
Yes
Batch processing
Yes
Yes
Interface
Web services, XML
Security
HTTPS, SSL+, PKI
Company
Smart2Pay
Smart2Pay is a licensed Payment Service Provider offering alternative, non-reversible online
payment methods (online bank transfer, wallets, vouchers, mobile payments, 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
www.smart2pay.com
PSP, online payments, alternative payments, frictionless payment product, guaranteed, flexible,
custom pay-flows
Contact
James Flinterman CEO, james@smart2pay.com

Stefan Iancu CTO, stefan@smart2pay.com
Worldwide, Latin America, EMEA, Asia/Pacific, North America
Market segment(s)
Games, airlines, travel, retail, general ecommerce
Active since
2002
Payment service provider, licensed payment institution
Payment methods
Credit cards
MasterCard, Visa, JCB, AmEx, Diners, Sorocred, Aura, Hipercard, etc.
Debit cards
CarteBleue, Maestro, Visa Electron, Discover, eTranzact, Verve etc.
Pre-paid cards
OneCard, CashU, paysafecard, ToditoCash, Webmoney Japan, Mangirkart etc.
Online banking
Yes (currently we cover over 50 different countries).
E-wallet
Yes, various.
Mobile / SMS / IVR
Mobile options in 80 countries, Mobile Money, Globe GCash, Beeline, MTS, Megafon, Tele2,
Indosat Dompetku, T-Cash etc.
Over 170 payment methods in over 80 countries.
Offline
Bank transfer in more than 30 countries.
#35 acquirers.
Various
Various
Services
1 contract + 1 Interface = Collect Worldwide. Smart2Pay lets you collect payments from over
70countries; 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 plugins and PHP/SDK for custom framework integration.
Pricing
Pricing is negotiated on a case by case basis.
Collecting payments
Yes
Yes
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, etc.
Please contact us for detailed information.
Credit management is not available.
Other services
Third parties
COMPANY PROFILES
209
Technology
210
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
Web services, SOAP, HTML FORM POST, REST (specifications available upon request).
Security
HTTPS, SSL+, hash strings, inhouse developed tools
Company
SolidTrust Pay
SolidTrust Pay launched in April, 2006 and has grown to serve millions of clients worldwide. In
addition to providing exceptional EWallet services, SolidTrust provides direct merchant credit card
processing accounts designed for the online entrepreneur.
Website
www.solidtrustpay.com
payment scheme, payment gateway, PSP, online payment, payment processing, ewallet, credit
card, online checkout
multi-currency, PCI, ecommerce, alternative payments, afterpayments, processor, acquirer etc.
Contact
accountsmanager@solidtrustpay.com
Market segment(s)
Auction, network and affiliate marketing, entrepreneur, MLM, online business start ups, retail, travel,
investment, advertising, other
Active since
2006
Payment service provider, payment gateway, processor
Payment methods
Credit cards
Visa, MasterCard
Debit cards
Bancontact/Mister Cash, Maestro, Giropay, BCMC, (e)Maestro, Visa Electron, Dankort, Laser, Delta,
Carte Bleue, CartaSi, Postepay, Visa Debit, BancNet, PPS, China UnionPay, Alipay, 99Bill, eNETS,
MEPS, Poli, Visa CPC, Debit MasterCard, Carte Bancaire, CartaSi, Carte Bleue, Chinese debit
cards, Carte Blanche, etc.
Pre-paid cards
STPay Prepaid MasterCard
Online banking
No
E-wallet
Yes
Mobile/SMS/IVR
Yes
Bitcoin
Offline
N/A
3 acquirers
Inatec, Webinc, Payspark, EFT Canada, CHEXX.com, GB3, iSignThis, Echeckit.com,

iPayoptions.com
EUR, GBP, USD, NZD, CAD, AUD
Services
Well established, long running PSP and eWallet companies (9 years), most withdrawal options,
humanitarian contribution (donations to charity, etc.).
Core services
Online payment processing, eWallet services.
Pricing
For current pricing, see our company profile at: https://solidtrustpay.com/fees.
Collecting payments
Yes
Yes
device fingerprinting, IP geolocation, multi-merchant purchase history, global validation checks,

Verified by Visa, MasterCard SecureCode, data validation, geographical checking, parameter
format checking, transaction limit checking, risk scoring, geo IP-origin check, black/white list,
secure third-party SCA, third-party and first-party document analysis.
GB3, iSignThis
Credit card payments available, card void and refunds, customer satisfaction service is product/
service not received.
Other services
STPay Merchant marketplace, referral downline, Member Beneficiary Program, Member Care
Assistance Program, Affiliate Program, Emergency Funding Services, TrustCard VIP Member
Program, Buyer Protection Services
Third parties
N/A
COMPANY PROFILES
213
Technology
214
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
Security
HTTPS, SSL+, PKI
Company
Transaction Network Services Inc

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
payment network, payment processing, PCI DSS, alternative payments, connectivity, SIM
management, encryption, tokenization
Contact
solutions@TNSI.com
North/Latin America, Europe, Asia/Pacific
Market segment(s)
Banks, financial institutions, ISOs, acquirers, processors, PSPs, merchants, gaming, retail, travel,
alternative payments, other
Active since
1990
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
PayPal, GiroPay, Sofortbanking
Offline
PayPal, GiroPay, Sofortbanking
Network connectivity to over 400 major acquirers, processors, banks and card schemes globally.
Connectivity to 3rd party fraud providers, DCC providers, and other value-added services.
Support for 140 currencies (settlement currencies dependent on acquirers).
Services
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 ofconnectivityandmanaged payments servicesenable 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 e-mail solutions@TNSI.com.
Collecting payments
Yes
Yes
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.
Accertify, VeriFone, Ingenico
No
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
COMPANY PROFILES
215
Technology
216
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
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
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
thesupervision of the Swedish Financial Supervisory Authority.
Website
trustly.com
Ownership
Privately owned by founders, Alfvn & Didriksson firm, Bridgepoint Development Capital,
employees and private investors
Business model
Payment service developer and provider, PSP
mobile payments, online payments, e-payments, payment initiation services, P2P payments, OBeP,
online banking payments
Contact
Stefan Backlund, Head of Marketing & Communications
Austria, Germany, Norway, Belgium, Greece, Poland, Bulgaria, Hungary, Portugal, Croatia, Ireland,
Romania, Czech Republic, Italy, Slovakia, Cyprus, Latvia, Slovenia, Denmark, Lithuania, Spain,
Estonia, Luxembourg, Sweden, Finland, Malta, UK.
Main client industries
Ecommerce, marketplaces (sharing economy), travel, financial services, gaming
Active since
2008
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
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 pay without leaving the merchants
website.
Core services
Online payment processing, reconciliation information (web), risk-assesments with P2P payments.
Multi-currency/Dynamic currency
conversion
EUR, SEK, NOK, DKK, GBP, USD, PLN
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 management
Full risk management system including: Data Checks, Comparison Checks, Velocity Checks,
Financial background checks etc.
None, all inhouse.
Acceptation criteria (sign-up

process)
Typically standard KYC information is gathered (ID check, company registry, bank account number
verification etc.) Each customer is assessed individually.
Other services
Additional financial services, currency handling, remmittance
COMPANY PROFILES
217
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
218
Number of transactions (per year)
12 million
Transactions value
More than 3 billion EUR since introduction in 2008.
FINANCIAL
TECHNOLOGY FOR
MORE THAN 20,000
CUSTOMERS.
Wirecard is the leading
specialist for payment
processing and issuing.
wirecard.com
Company
Wirecard AG
Wirecard AG is one of the worlds 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
ecommerce, mobile payment, risk management, acquiring, issuing, credit cards, online banking,
POS payment processing
Contact
sales@wirecard.comI+49 89 4424 1400
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
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 Bancrio
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
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.
Wirecard Bank AG (Multi-Regional Acquirer) and all major acquirers worldwide, partnerships or
interfaces with industry-specific service providers.
All major acquirers and banks worldwide.
All relevant transaction and settlement currencies.
Services
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 and 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.
Collecting payments
Yes
COMPANY PROFILES
221
Yes
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.
Interfaces to various 3rd party providers.
Purchase on credit, credit scoring, credit control, receivables management, online void and refund,
purchase on credit, factoring, payment guarantee, etc.
Other services
Strategy management and decisioning solutions, consumer identification and 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
222
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
Web services, REST, SOAP, HTTPS/XML, ISO8583, various batch file formats (specifications
available upon request).
Security
HTTPS, SSL+, sFTP, PGP encryption
Company
Worldline
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
payment scheme, payment gateway, PSP, online payment, payment processing, multi-currency,
PCI, ecommerce, alternative payments, processor, acquirer, multi-channel, cross-channel, trust,
authentication, digital, e-acquiring, marketplace
Contact
infoWL@worldline.com
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
Payment service provider, payment gateway, alternative payment method, acquirer, processor
Payment methods
Credit cards
MasterCard, Visa, CB, AmEx, JCB, Cofinoga, Aurore, Diners
Debit cards
Bancontact/Mister Cash, Maestro, Giropay, BCMC, Visa Electron, Carte Bleue, Visa Debit, China
UnionPay, Debit MasterCard
Pre-paid cards
Chque Djeuner
Online banking
iDEAL, BVN, MyBank, Sofort, EPS
E-wallet
PayPal, Paylib, V.me, MasterPass
Mobile / SMS / IVR
Mobile, SMS and IVR
Bitcoins, Credit Transfer, Direct Debit, online credit (1euro.com)
Offline
Payment terminals. For more information please contact us
Over 50,000 merchants
Acquirers, PSPs, ecommerce solution
EUR, USD, GBP, CHF, CNY, CZK, DKK, EEK, EUR, HUF, ISK, LTL, LVL, NOK, PLN, SEK, SKK, TND,
TRY, UAH
Services
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.
Collecting payments
Yes
Yes
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
ReD, Arvato Infoscore
Payment in instalments, deferred payment, split payments
COMPANY PROFILES
223
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
224
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
Web services, SOAP, Rest, XML, API
Security
HTTPS, SSL+, PKI, tokenizer
Company
Worldpay
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
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
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 methods
Klarna, SEPA payments, Boleto Bancario
More 50 acquirers
More 50 major acquirers and banks worldwide
Settlement and gateway currencies
AUD, CAD, DKK, CZK, EUR, HKD, HUF, JPY, NZD, NOK, PLN, SGD, ZAR, SEK, CHF, GBP, AED,
USD
Services
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 endmarkets, 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 worlds 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.
Collecting payments
Yes
Yes
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.
Experian, MaxMind
Full Range
Other services
Treasury, Corporate Global Banking and Cash and Liquidity Management
COMPANY PROFILES
227
Technology
228
Direct connections
Yes
Batch processing
Yes
Yes
Yes
Yes
Interface
HTML, XML (specs on request), Web Services (SOAP), numerous shopping carts, increasing
numbers of CRM systems.
Security
HTTPS, SSL+, PCI DSS Compliant
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 three 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.
ONLINE PAYMENTS:
An all-in-one reference guide
on (online) payments
& ecommerce industry trends,
evolving business models, top
players and relevant (alternative)
payment methods.
B2B PAYMENTS, SCF
WEB FRAUD PREVENTION,
Industry voices from the online
IDENTITY:
& E-INVOICING:
finance space share insights

into the dynamic B2B payment,
e-invoicing, supply chain finance
industries to support innovative
solutions & thriving businesses.
ONLINE SECURITY & DIGITAL

In-depth source of information
highlighting key facts &
trends into the global digital
identity transactional and web
fraud prevention & detection
ecosystem.
For the latest edition, please check the Reports section
Glossary
3D secure
Acquirer
3D Secure (3DS) is the program jointly developed by Visa and
The financial institutions that directly or indirectly enter into
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 its customers must be registered as a participating

merchant in the program. Only cardholders registered at Verify
Alternative payments
by Visa or MasterCard SecureCode can actually be requested to
Payment methods that are used as an alternative to credit card
verify their data when purchasing online.
payments. Most alternative payment methods address a domestic

economy or have been specifically developed for electronic
commerce and the payment systems are generally supported and
Access Card
operated by local banks. Each alternative payment method has
A plastic card used in an automated teller machine (ATM) to
its own unique application and settlement process, language and
complete deposits, cash withdrawals, account transfers, and other
currency support, and is subject to domestic rules and regulations.
related account functions.
Anti-Money Laundering (AML)

Account History
A set of procedures, laws or regulations designed to stop the
The payment history of an account over a specified period,
practice of generating income through illegal actions. In most
including the number of times the account was past due or over the
cases, money launderers hide their actions through a series of
credit limit.
steps that make it look like money coming from illegal or unethical
sources was earned legitimately.
ACH
The paperless funds transfer system maintained by the Federal
API (Application Program Interface)
Reserve and other approved operators that utilizes electronic
A formalized set of software calls and routines that can be
networks to exchange funds transfer items. Also called automatic
referenced by a software application program in order to access
check handling.
supporting network services.
ACH Network
App Store
The Automated Clearing House (ACH) Network facilitates
An online marketplace where users of smartphones and other
commerce, electronically, by serving as an efficient, reliable and
mobile devices can browse, purchase, and download applications,
secure payments system. NACHA, led by member depository
or "apps", that augment the capabilities of their devices.
financial institutions and payments associations, fulfills this purpose
230
by managing the development, administration, and governance of
Authentication
the ACH Network, and by providing superior services and value
A security measure designed to establish the validity of a transmission,
to its members as the industry association responsible for ACH
message, or originator, or a means of verifying an individuals
payments. The ACH Network connects the originating depository
authorisation to receive specific categories of information or
financial institutions with the receiving depository financial
transaction approval Encyclopedia of Terminology for the Acquiring
institutions.
Industry 22 (in the case of plastic cards or payment orders).
Authorisation
Bitcoin
Online payments often involve direct authorisation from the bank
Bitcoin is a digital currency, a virtual counterpart of banknotes.
of the consumer making the payment. This means that a check is
Each transaction is registered (the numbers of the coins passing
carried out immediately to check whether the consumer is entitled
from a wallet to another wallet) and stored under the name of the
and in a position to make the payment.
owner. The creators of Bitcoin remain anonymous. The founder is
supposedly called "Satoshi Nakamoto, which is a Japanese name,

but could be a person or people anywhere in the world.
B2B
The exchange of goods or services between one business and
There can be no more than 21 million registration numbers. In a
another business.
process that is similar to a continuous raffle draw, "mining" nodes

on the network are awarded Bitcoins each time they find the
B2C
solution to a certain mathematical problem. The reward for solving
The exchange of goods and services between a business and a
a block is automatically adjusted so that the number of Bitcoins
customer.
created decreases as time goes on.
Bank-as-a-platform
Blockchain
A strategy used to allow third parties to develop applications and
The blockchain is a public ledger of all transactions in the Bitcoin
services around the financial institution via open APIs. Banks,
network made of all computers (nodes) participating and using the
as such, become fully-fledged digital players, competing and
cryptocurrency protocol. A block chain is a transaction database
collaborating for customer relevance in payment and information
shared by all nodes participating in a system based on the Bitcoin
services.
protocol. A full copy of a currency's block chain contains every

transaction ever executed in the currency.
Banking model
It represents the diversified means by which a bank helps a customer
create an operating account, make money transfers, pay pending
Cash on delivery
orders and sell foreign currency.
Payment method with which payment (cash or by card) takes place

when goods are delivered. In Belgium, France and The Netherlands
Banking sector
known as rembours or remboursement.
It is the section of the economy devoted to the holding of financial

assets for others, investing those financial assets as leverage
Chargeback
to create more wealth, and the regulation of those activities by
A procedure whereby a cardholder or the cardholders bank disputes
government agencies.
transactions to payment cards. A disputed payment card transaction

is returned to the acquirer/ISO/MSP for reimbursement to the
Biometrics
cardholders account.
The use of a computer user's unique physical characteristics such

as fingerprints, voice and retina to identify that user.
Checkout
A written order to a bank to pay the amount specified from funds on
deposit; a draft.
GLOSSARY
231
Chip-and-Pin payments
Consumer Account
Chip and PIN is a UK government-backed initiative to implement
A deposit account held by a financial institution and established
the EMV (short for Europay, Mastercard and Visa) standard for
by a natural person primarily for personal, family, or household use
smart payment cards. The name of this initiative stems from
and not for commercial purposes.
the presence of a semiconductor chip and associated circuitry

in the smart card, which is used in tandem with a PIN (personal
Consumer behavior
identification number) . In use, the smart card is placed into a PIN
The process by which individuals search for, select, purchase,
pad terminal or modified swipe-card reader, which accesses the
use, and dispose of goods and services, in satisfaction of their
chip in the card. The user enters a 4-digit PIN that is checked
needs and wants. See also consumer decision making.
against the information stored on the card. If the entered PIN

matches the stored value, the transaction is permitted to proceed.
Consumer data analytics

It is the systematic examination of a company's customer
Clearing
information to identify, attract and retain the most profitable
The process of submitting transactions to the respective card
customers.
company (Visa, Discover, AMEX or MasterCard) for interchange

processing, the fourth in the seven stages of processing. This
Credit card
presentment of the transactions is also a request for payment in
A card indicating that the holder has been granted a line of credit.
the settlement process.
It enables the holder to make purchases and/or withdraw cash up

to a prearranged ceiling; the credit granted can be settled in full
Click-and-collect
by the end of a specified period or can be settled in part, with the
It is the process by which the consumer orders online (click)
balance taken as extended credit.
and collects his merchandise at a local store. It is a compromise

between online and in-store shopping. The main benefits of click-
Cross-border ecommerce
and-collect for the consumer are saving delivery or shipping delays
International ecommerce is called cross-border ecommerce, when
and costs. It also saves time and prevents shopping in congested
consumers buy online from merchants located in other countries
stores. In some cases, click-and-collect may enable consumers
and jurisdictions. Online trade between consumers and merchants
who are afraid of online payment to pay at the collecting point.
which share one common language and border or which make use
of the same currency are not always perceived as cross-border
Cloud computing
by consumers. EU neighbors which speak a common language,
Cloud computing is a general term for anything that involves
united by SEPA, are just one example.
delivering hosted services over the Internet. These services are

broadly divided into three categories: Infrastructure-as-a-Service
Cross-channel
(IaaS), Platform-as-a-Service (PaaS) and Software-as-a-Service
Cross-channel implies merchants who interchangeably use
(SaaS). The name cloud computing was inspired by the cloud
multiple channels to market, sell, and interact with customers.
symbol that's often used to represent the internet in flowcharts
For instance, when a customer uses a merchant platforms mobile
and diagrams.
app to look at a product but doesnt complete the purchase, the

merchant can use a cross-channel approach to remarket that
CNP (Card Not Present)
product by serving up ads for it even when the customer is on
Transaction type for credit cards where the card cannot be shown
another channel or platform (say email or social media).
physically to the retailer, for instance in the case of e-commerce

transactions and MOTO transactions. Is the opposite of Card
Present (CP) transactions.
232
Customer due diligence (CDD)
Decentralised e-money technology
Identification and verification of customers and beneficial owners.
Decentralised e-money technology implies storing and transferring

through a peer-to-peer computer network that directly links users,
Customer loyalty
much like a chat room. No single user controls the network.
It is defined as a customer continuing to believe that a certain
There is no centralised issuer of such products or a trusted third
merchants product/service offer is their best option which fulfills
party that manages them. This means that they are independent
their value proposition whatever that may be. They take that offer
of central banks, financial institutions and internet platforms.
whenever faced with the purchasing decision. Customer loyalty is
Decentralised e-money is not backed by any particular good or
all about attracting the right customer, getting them to buy, buy
service and is not redeemable into national currencies.
often, buy in higher quantities and bring even more customers.
Digital goods
Customer reach
A general term that is used to describe any goods that are stored,
Estimated number of the potential customers it is possible to reach
delivered and used in its electronic format. Digital goods are
through a an advertising medium or a promotional campaign.
shipped electronically to the consumer through e-mail or download

from the Internet.
CVV
A unique check value encoded on the magnetic stripe and replicated
Digital identity (e-ID)
in the chip of a card or the magnetic stripe of a Visa Card to validate
A collection of identity attributes, an identity in an electronic form
card information during the authorization process.
(e.g. electronic identity).
CVV2
Digital money
A unique 3 digit check value generated using a secure cryptographic
Electronic money or e-money is an evolving term that can have
process that is indent printed on the back of a Visa card or provided
different meanings but in principle involves the use of computer
to a virtual account holder.
networks and digital stored value systems to store and transmit
money. It may have official legal status or not.
Data breach
Digital Single Market
Unintentional release of secure information to an untrusted
It is one in which the free movement of goods, persons, services and
environment.
capital is ensured and where citizens, individuals and businesses can

seamlessly access and exercise online activities under conditions
Debit card
of fair competition, and a high level of consumer and personal data
A plastic card linked to a checking or savings account. Offline or
protection, irrespective of their nationality or place of residence.
signature based debit cards work in the merchant environment

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

transaction. Prepaid cards fall into the debit category.
GLOSSARY
233
Direct Carrier Billing
e-Banking (online banking)
It is a payment method for purchased items or services by charging
A method of banking in which the customer conducts transactions
the purchase to mobile phone account. At the time of checkout,
electronically via the Internet.
the customer selects the mobile billing option on a smartphone

and follows a two-factor authentication procedure. After the
EBITDA
authentication, the consumer's mobile account is charged for the
An accounting term referring to earnings before interest, taxes,
amount of the purchase, plus applicable taxes and, in some cases,
depreciation, and amortization but after all product/service, sales,
a processing fee. Direct mobile billing does not require any previous
and overhead costs are accounted for.
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 telecommunica
Direct debit
tions networks when the customer and the merchant are in different
Preauthorized debit on the payers bank account initiated by the
geographical places. Electronic commerce is a broad concept that
payee.
includes virtual browsing of goods for sale, selection of goods to

buy, and payment methods. Electronic commerce functions on a
Dispute transaction (card-based)
bona fide basis, without prior arrangements between customers
A dispute initiated by the cardholder. In the bank card industry, the
and merchants. It operates via the Internet using any combination
dispute can be in the form of a chargeback.
of technologies designed to exchange data (such as EDI or e

mail), access data (such as shared databases or electronic bulletin
Disruptive innovation
boards), and capture data (through bar coding and magnetic or
It is an innovation that helps create a new market and value
optical character readers).
network, and eventually disrupts an existing market and value

network (over a few years or decades), displacing an earlier
e-Invoicing
technology. The term is used in business and technology literature
Electronic invoicing is the exchange of the invoice document
to describe innovations that improve a product or service in ways
between a supplier and a buyer in an integrated electronic format.
that the market does not expect, typically first by designing for a
Traditionally, invoicing, like any heavily paper-based process,
different set of consumers in a new market and later by lowering
is manually intensive and is prone to human error resulting in
prices in the existing market.
increased costs and processing lifecycles for companies.
Dunning
Electronic Banking
The process of insistent demands for the payment of a debt. In the
A form of banking in which funds are transferred through an
business context, it refers to the collections process, whereby a
exchange of electronic signals between financial institutions rather
business communicates with customers who have failed to pay their
than an exchange of cash, checks, or other negotiable instruments.
bills.
Electronic payments
Payments that are initiated, processed and received electronically.
EBA Clearing
It is a bank-owned provider of pan-European payment infrastructure
EMV
solutions. The Company was established in June 1998 by 52 major
The international smart card standards group made up of Europay
European and international banks with the mission to own and
International, MasterCard International, and Visa International.
operate EURO1, the only privately owned RTGS-equivalent largevalue payment system on a multilateral net basis.
234
European Central Bank (ECB)
Identity theft
The European Central Bank (ECB) is the central bank for Europe's
Identity theft happens when fraudsters access enough information
single currency, the euro. The ECBs main task is to maintain the
about someones identity (such as their name, date of birth, current
euro's purchasing power and price stability in the euro area.
or previous addresses) to commit identity fraud. Identity theft can

take place whether the fraud victim is alive or deceased.
European Payments Council (EPC)

The purpose of the European Payments Council (EPC),
In-app payments
representing payment service providers (PSPs), is to support and
Payments made from within mobile applications in order to purchase
promote European payments integration and development, notably
dedicated content like digital money, services or even products.
the Single Euro Payments Area (SEPA). The EPC is committed to

contributing to safe, reliable, efficient, convenient, economically
Interbank
balanced and sustainable payments, which meet the needs of
A transaction or exchange operated between banks.
payment service users and support the goals of competitiveness

and innovation in an integrated European economy.
Interchange fee
When a customer pays for a purchase in a store using a credit
or debit card, the bank that serves the store (the "acquiring
Financial inclusion
bank") pays a fee to the bank that issued the payment card to
The ability of an individual, household, or group to access appropriate
the consumer (the "issuing bank"). A so-called "interchange fee"
financial services or products. Without this ability people are often
is then deducted from the final amount that the store merchant
referred to as financially-excluded.
receives from the acquiring bank for the transaction. Today,

only competition rules limit the fees set by banks and payment
Financial Institution (FI)
card schemes, which are hidden from the consumer and neither
Any bank, savings and loan, credit union, or other institution organized
retailers nor consumers can influence.
under either national or state banking laws capable of accepting

deposits and/or extending credit.
Interchange Network
An electronic network maintained by the card companies that
Financial services
exchanges data related to the value of card sales and credits
Services and products provided to consumers and businesses by
among issuers and acquirers.
financial institutions such as banks, insurance companies, brokerage

firms, consumer finance companies, and investment companies all of
Interoperability
which comprise the financial services industry.
A situation in which payment instruments belonging to a given

scheme may be used in other countries and in systems installed
Fintech (Financial technology)
by other schemes. Interoperability requires technical compatibility
An economic branch where companies develop technologies in
between systems, but can only take effect where commercial
order to improve the financial system.
agreements have been concluded between the schemes concerned.
Issuer
IDEAL
Public and private companies that enter direct contractual
iDEAL is an internet payment method in the Netherlands, based on
relationships with consumers and/or businesses to maintain and
online banking. Introduced in 2005, this payment method allows
service such relationships through the issuance of one or more
customers to buy securely on the internet using direct online
plastic cards.
transfers from their bank account.
GLOSSARY
235
Issuing bank
Millennials
The financial institution member of the card companies that has the
A name given to the generation born between 1982 and 2004.
responsibility for issuing credit, prepaid, corporate, charge and debit
The Millennial generation follows Generation X in order of
cards to a consumer.
demographic cohorts. This generation is often associated with

technology and social media. Also known as Generation Y.
Know Your Customer (KYC)
Mobile (payments)
The term refers to due diligence activities that financial institutions
Also referred to as mobile money, mobile money transfer and
and other regulated companies must perform to ascertain relevant
mobile wallet, mobile payments generally refer to payment services
information from their clients for the purpose of doing business
operated under financial regulation and performed from or via a
with them. Know your customer policies are becoming increasingly
mobile device. Mobile payment is an alternative payment method.
important globally to prevent identity theft, financial fraud, money
Instead of paying with cash, check, or credit cards, a consumer can
laundering and terrorist financing.
use a mobile phone to pay for a wide range of services and digital
or hard goods.
Loyalty Card
Mobile network operator (MNO)
A brand specific or retailer labeled card that has cardholder
A telecommunications service provider organization that provides
benefits tied to purchase amounts, usage, membership, or number
wireless voice and data communication for its subscribed mobile
of visits. Benefits typically include coupons or discounts for future
users. MNOs are independent communication service providers
services.
that own the complete telecom infrastructure for hosting and

managing mobile communications between the subscribed
mobile users with users in the same and external wireless and
Malware
wired telecom networks. MNOs are also known as carrier service
It is a software which is specifically designed to disrupt or damage
providers, mobile phone operator and mobile network carriers.
a computer system.
Monetisation
Market fragmentation
To monetise is to convert an asset into or establish something as
Separation of a market that is relatively uniform in character into
money or legal tender. The term 'monetise' has different meanings
different segments that have different preferences and demand
depending on the context. It can refer to methods utilised to
patterns, each requiring different marketing approaches.
generate profit, while it also can literally mean the conversion of

an asset into money. For example, the US Federal Reserve can
Marketplace
monetise the nation's debt; this involves the process of purchasing
An online marketplace/ online platform is a type of ecommerce
debt (treasuries) which in turn increases the money supply.
website where product and inventory information is provided by
This essentially turns the debt into money (monetisation).
multiple third parties, whereas transactions are processed by the

marketplace operator. Online marketplaces are the primary type
Mobile point of sale (m-POS)
of multichannel ecommerce. In an online marketplace, consumer
A smartphone, tablet or dedicated wireless device that performs
transactions are processed by the marketplace operator and then
the functions of a cash register or electronic point of sale.
delivered and fulfilled by the participating retailers or wholesalers

(often called drop shipping).
236
M-Pesa
A mobile payments system based on accounts held by a mobile
OAuth (Open Authorization)
operator and accessible from subscribers mobile phones.
An open standard for token-based authentication and authorization
The conversion of cash into electronic value (and vice versa)
on the Internet. It allows an end user's account information to be
happens at retail stores (or agents). All transactions are authorised
used by third-party services, such as Facebook, without exposing
and recorded in real-time using secure SMS.
the user's password. OAuth acts as an intermediary on behalf

of the end user, providing the service with an access token that
Multichannel
authorizes specific account information to be shared. The process
Multichannel means having a presence on more than one channel
for obtaining the token is called a flow.
or platform. For example, if a merchant is marketing products on

the proprietary website, in person, and via catalogues, then the
OBeP (Online Bnaking Electronic Payments)
merchant is conducting multi-channel marketing.
A payments type developed by banks in conjunction with technology

providers to meet the demands required by payments performed via
MyBank
internet.
MyBank is an e-authorisation solution which enables safe digital

payments and identity authentication through a consumers own
Omni-channel
online banking portal or mobile application.
Omni-channel retailing is concentrated more on a seamless
approach to the consumer experience through all available

shopping channels, such as mobile internet devices, computers,
NACHA
brick-and-mortar, television, radio, direct mail or catalogue.
Abbreviation for National Automated Clearing House Association.
Retailers are meeting the new customer demands by deploying
The Electronic Payments Association, a national organization that
specialised supply chain strategy software. Retailers using an
establishes the standards, rules, and procedures for electronic
omni-channel approach will track customers across all channels,
payments.
not just one or two. In the brick-and-mortar channel, digitallysavvy consumers are entering stores already well-informed about
National Retail Federation (NRF)
a products features and prices and expect store employees to
The worlds largest retail trade association, with membership
know more than they do.
that encompasses all retail formats and distribution channels,

including department, specialty, discount, catalogue, Internet, and
Online shopping (online retailing)
independent stores as well as the industrys key trading partners
A form of electronic commerce which enables consumers to
of retail goods and services.
buy goods or services from a seller over the internet without an

intermediary service. An online shop, e-shop, e-store, internet
NFC
shop, webshop, webstore, online store, or virtual store evokes the
Near Field Communication (NFC) is a short-range wireless
physical analogy of buying products or services at a bricks-and-
connectivity standard (Ecma-340, ISO/IEC 18092) that uses
mortar retailer or shopping centre. The process is called business-
magnetic field induction to enable communication between
to-consumer (B2C) online shopping.
devices when they're touched together, or brought within a few

centimeters of each other. Jointly developed by Philips and
Sony, the standard specifies a way for the devices to establish
a peer-to-peer (P2P) network to exchange data. After the P2P
network has been configured, another wireless communication
technology, such as Bluetooth or Wi-Fi, can be used for longer
range communication or for transferring larger amounts of data.
GLOSSARY
237
Open Transaction Alliance (OTA)
Payment Service Provider (PSP)
A non-institutional private initiative by forward thinking market
A company that offers service in the area of payments. These
participants who consider the growing importance of the banking
services consist of, for example, various payment modalities,
channel for internet business, the need of consumers and
Electronic Bill Presentment and Escrow services. A Payment
merchants for secure e-services and the development of XS2A
Service Provider acts as intermediary between buyer and seller.
domain together, based on the assumption of the existence of

some form of cooperative domain (technical standards).
Peer-to-peer payments
An online technology that allows customers to transfer funds from
their bank account or credit card to another individual's account
Pay-as-You-Go
via the Internet or a mobile phone.
An unbanked, credit poor, or noncredit customer who mostly deals

with cash. These consumers are targets for a prepaid card.
Phishing
A method which allows criminals to gain access to sensitive
Payee
information (like usernames or passwords). It is a method of social
Party (beneficiary) to whom a bill of exchange (such as a check or
engineering. Very often, phishing is done by electronic mail. This mail
draft) is made payable.
appears to come from a bank or other service provider. It usually

says that because of some change in the system, the users need
Payer
to re-enter their usernames/passwords to confirm them. The emails
A person or a party that makes a payment for products or services
usually have a link to a page which is similar to the one of the real
received to another person or party.
bank.
Payment flow
Point of sale (POS)
The clockwise transfer of money in payment for the counter-
Point of sale (POS) or checkout is the location where a transaction
clockwise physical flow of goods and services. The payment flow
occurs. A "checkout" refers to a POS terminal or more generally to
is the monetary payment for goods and services received by the
the hardware and software used for checkouts, the equivalent of
household sector from the business sector through product markets
an electronic cash register.
and the monetary payment for resource services obtained by the

business sector from the household sector through factor markets.
PSD (Payment Service Directive)

The Directive on Payment Services (PSD) provides the legal
Payment Gateway
foundation for the creation of an EU-wide single market for payments.
A system that provides electronic commerce services to merchants
The PSD aims at establishing a modern and comprehensive set of
for the authorization and clearing of transactions.
rules applicable to all payment services in the European Union.

The target is to make cross-border payments as easy, efficient and
238
Payment method
secure as 'national' payments within a Member State. The PSD also
A generic way in which a payment is carried out, for instance by
seeks to improve competition by opening up payment markets to
PIN card, credit card, internet banking, COD, premium SMS. When
new entrants, thus fostering greater efficiency and cost-reduction.
a payment method is not generic but specific, it is called a payment
At the same time the Directive provides the necessary legal platform
product.
for the Single Euro Payments Area (SEPA).
PSD2
On 24th July 2013, the European Commission adopted a proposal
SCT Scheme
for a revised Directive 2007/64/EC on Payment Services (the
The SCT scheme is an inter-bank payment scheme defining a
PSD2). The main high-level objectives of the revision are to
common set of rules and standard procedures for credit transfers
promote better integration, more innovation and more competition
in euro.
in the market for payment services within the EU.
Single Euro Payments Area (SEPA)

This is the vision, directive and goal of the European Commission
QR codes
which means that citizens and companies within the European Union
A QR code (quick response code) is a type of 2D bar code that is
have to be able to pay with a single set of payment instruments.
used to provide easy access to information through a smartphone.
This set is the combination of a bank account and instruments like
There are static QR codes, which are used to disseminate
money transfer, direct debit and cards. SEPA signifies the end of
information to the general public and dynamic codes, which
international payments within Europe.
offer more functionality, such as editing the code at any time and
targeting a specific individual for personalised marketing.
Receipt
Settlement
The process of transferring funds for sales and credits between
acquirer and issuers, including the final debiting of a cardholders
account and the crediting of a merchants account.
A hard copy of the transaction, given to the consumer. Also called

sales draft receipt.
Settlement Bank
A bank, including correspondent or intermediary banks, that is
Reconciliation
authorized to execute settlement of interchange on behalf of the
A message generated by an acquirer or an issuer, an originator or a
member or the members bank.
receiver, or a terminal and a processor of an electronic transaction

that advises the receiver of settlement information regarding
Social engineering (fraud)
transactions processed between the sender and the receiver.
A non-technical method of intrusion that hackers use. It relies on

human interaction and often involves tricking people into breaking
Returns
normal security procedures. It is one of the greatest threats that
A sales return is merchandise sent back by a buyer to the seller,
organizations today encounter.
usually for one of the following reasons: Excess quantity shipped.

Excess quantity ordered. Defective goods. Goods shipped too late.
Social platforms
Web-based technologies that enable the development,
Risk Management
deployment and management of social media solutions and
The process concerned with the identification, measurement,
services. They provide the ability to create social media websites
control, and minimization of security risks in information systems
and services with complete social media network functionality.
and payment systems to a level commensurate with the value

of the assets protected. Good risk management in the merchant
Social media
program requires meeting the challenges of reducing the exposure
The sum total of online communications channels dedicated
to risk and responding quickly when risk arises. Monitoring
to community-based input, interaction, content-sharing and
merchant activity with preset parameters allows the transactions
collaboration. Websites and applications dedicated to forums,
to be rejected for examination before potentially incurring a loss.
microblogging, social networking , social bookmarking, social

curation, and wikis are among the different types of social media.
GLOSSARY
239
Spear phishing
Transaction
An e-mail that appears to be from an individual or business that
An act between a merchant and a cardholder that results in a
the user knows. In fact, the respective e-mail is from the same
paper or an electronic representation of the cardholders promise
criminal hackers who want the users credit card and bank account
to pay for goods or services received from the act.
numbers, passwords, and the financial information on their PC.
SME
Unbanked
Small and medium-sized enterprises (SMEs) are non-subsidiary,
The population that does not maintain checking or savings
independent firms which employ less than a given number of
accounts with financial institutions because they do not desire to
employees. This number varies across countries. The most frequent
do so. Products that would benefit the unbanked market include
upper limit designating an SME is 250 employees, as in the
payroll cards and electronic benefits transfer (EBT).
European Union.
Underbanked
Supply chain
The population that does not maintain checking or savings
The network created amongst different companies producing,
accounts with financial institutions because of a loss of credit,
handling and/or distributing a specific product. Specifically, the
bankruptcy or too much difficulty qualifying.
supply chain encompasses the steps it takes to get a good or

service from the supplier to the customer.
User
Payment system users comprise both participants and their
Surcharge
customers for payment services. See also customer, direct
In debit card usage, additional fees assessed to cardholders by
participant, direct participant/member, indirect participant/
merchants and ATM providers. Merchants are sometimes charged
member, participant /member.
additional fees for nonqualified interchange transactions.
Value chain
Technology disruption
A value chain is the whole series of activities that create and build
see Disruptive Innovation definition
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
The Euro Retail Payments Board (ERPB)
Porter developed this concept in his 1980 book 'Competitive
On 19 December, 2013, the ECB announced the launch of the Euro
Advantage'.
Retail Payments Board (ERPB). This new entity, which replaces

the SEPA Council, helps foster the development of an integrated,
VAT
innovative and competitive market for retail payments in euro in
Consumption tax added to a product's sales price. It represents a
the European Union.
tax on the "value added" to the product throughout its production

process.
Tokenization
The process of substituting a sensitive data with an easily reversible
Virtual assistant
benign substitute. In the payment card industry, tokenization is one
A person who helps someone else - usually a business owner or
means of protecting sensitive cardholder PII in order to comply with
small business - with a variety of tasks from a remote location.
industry standards and government regulations. The technology is

meant to prevent the theft of the credit card information in storage.
240
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.
Web 2.0
A term used to describes a second generation of the World Wide
Web that is focused on the ability for people to collaborate and
share information online. Web 2.0 basically refers to the transition
from static HTML Web pages to a more dynamic Web that is more
organized and is based on serving Web applications to users.
White label
White label refers to a product or service that is purchased by a
reseller who rebrands the product or service to give the impression
that the new owner created it. White label products are often
produced via mass production.
GLOSSARY
241

Online Payments Market Guide 2015 - Insights Into Payments and Ecommerce

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The Paypers is an excellent resource

Ecommerce Europe welcomes the

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The payments industry is currently undergoing notable change, not

The omnichannel experience continues to change the way

only through the innovation technology spectrum, but also through

businesses sell and, more importantly, it contributes directly to

regulatory lenses, thus demanding a great deal of effort on behalf

the diversification of the payments plethora for consumers. In this

of merchants, payment services providers and other players in

scenario, PSPs continue to play a vital role in the companies

the business to be tuned to the latest trends, developments and

ecommerce process by implementing the payment methods that

regulatory framework. It is a necessary effort in order to incorporate

consumers want and feel comfortable with in the purchasing

the new requirements and draft a successful agenda for investment

process. As many online merchants are critical about the services

and revenue in the new landscape.

of their PSP, given the greater challenge of handling payments,

In order to comprehensibly implement the necessary intelligence

constantly re-examine the basis on which they deliver customer

to stay competitive in the complex and ever changing payments

business, The Paypers is committed to providing clear perspectives

In order to grasp the complexities of the changing business

who are eager to share their expertise in order to help businesses

landscape, this year`s edition features a 2-part structure. Part 1

succeed by choosing the best agenda possible, not only in domestic

is dedicated to thought leadership contributions and initiatives in

expansion, but also across borders. Therefore, The Paypers issues

the field of online financial services, featuring various contextual

its comprehensive Online Payments Market Guide on a yearly

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

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

updates on industry developments, as every detail can make the

interview or an elaborate article.

difference between success and failure.

challenges and opportunities), omnichannel payments and

remain essential strategies with significant impact on capturing and

innovations, as well as the regulatory landscape in Europe and

harnessing the market potential. Cross-border ecommerce has been

North America and globalising merchant strategies are among

developing at such a rapid pace that it has already become one of

the main topics to be addressed by these industry players, such

the key generators of future business growth for all participants in

as Neira Jones opinion on regulation and innovation within EU or

the industry, including payment gateways or technology providers,

CMS approach on the regulatory context in the US.

merchants, postal and logistics companies.

ecommerce space. New payment tools and devices are released,

barriers, putting customer preference at the forefront. In a context

even as we speak, and technologies such as NFC, both for

in which buyers have become increasingly more confident and

cards and mobile devices, have reshaped consumer behaviour

comfortable shopping online, and the mobile device becoming a

in the purchase experience and merchant attitude during the

popular shopping tool, retailers must reshape their offerings in order

sales process, respectively. The latter is much more aware of the

to accommodate for consumers new preferences. They should

importance of implementing innovative payment services into their

offering: payment preference is a top priority for retailers who want

by making a successful offline-to-online transition or convergence,

1. Create one integrated payment solution that serves merchants