PAY.ON Incorporates SEPA Direct Debit from P4 Solutions into Its Global Network
PAY.ON, leading global operator of Web-based, multichannel payment infrastructure services, has integrated the SEPA direct-debit payment process from P4 Solutions into its global payment network.
Munich (I-Newswire) August 20, 2013 - PAY.ON, leading global operator of Web-based, multichannel payment infrastructure services, has integrated the SEPA direct-debit payment process from P4 Solutions into its global payment network. The PAY.ON platforms have supported SEPA payment processing already for some time, but by integrating P4 Solutions, a further SEPA direct debit payment process solution is now available to PAY.ON clients. PAY.ON clients are thus already well positioned for SEPA. This affords their merchants enough time for the technical implementation by 1 February 2014 and to actively prepare their end customers for the SEPA payment process. By means of the PAY.ON API, PSPs, ISOs and financial institutions have access to around 300 payment providers in total, including more than 100 payment types.
As the new, secure payment method valid across Europe, SEPA provides PSPs/ISOs and their merchants with an efficient way to serve international customers with a simple procedure and in a more service-oriented way. This will thus help them to further grow their own customer base. A bank account is the only prerequisite for merchants and customers; other issues such as registration, software and individual checks are no longer necessary. SEPA is thus paving the way towards a simple international e-commerce system in Europe. For international providers from the USA, Asia and other regions of the world, SEPA offers a long-awaited harmonisation which minimises the extensive contractual and integration efforts typically required in payment technology.
Markus Rinderer, CEO of PAY.ON AG: "SEPA offers significant benefits to merchants in Europe and around the world by making their e-commerce more customer-oriented. The potential is enormous if you consider that out of around 500 million people in Europe only 125 million have a credit card, but they all have a bank account - the only requirement for using SEPA. E-commerce in Europe now has a great opportunity to take cross-border trade into a new era, all thanks to SEPA. PAY.ON has provided its customers with all the tools needed to take the relevant steps for the market in good time."
Amran Khalid, Director International Sales, P4 Solutions: "Direct debit, which is popular in Germany, can continue to be offered beyond 1 February 2014 by means of the P4 SEPA connector. Contrary to the recommendation issued by the German banking association, the SEPA rule book does not require a written paper or fax mandate. The e-mandate tool from P4 Solutions, available as part of the solution provided by PAY.ON, makes it possible to perform this virtually in a secure manner. P4 takes on payment processing by means of the P4 SEPA connector integrated with PAY.ON. This involves transaction processing with the bank of the PSP and management of the various e-mandates on a secure e-mandate server, as well as format reconciliation and bank file generation. This allows PSPs and ISOs to easily continue using their own bank. As a result, the only requirements are Electronic Banking Internet Communication Standard (EBICS) access and activation of the P4 SEPA connector with PAY.ON, and then the PSP is SEPA-ready for its merchants."
PAY.ON AG is the world's leading operator of multichannel payment infrastructure systems and supplier of the white-label platform PaySourcing and the routing gateway PayPipe. All PAY.ON systems guarantee compliance with the security and requirements standards that apply to the international payment market. Further information can be found at www.payon.com
Press contact PAY.ON AG:
Annett van de Bunt
Head of Marketing
Tel.: +49 (0)89 4523 0552
About PAY.ON AG
PAY.ON AG is the world's leading provider for web-based payment infrastructure services and provider More.. of the payment processing platform 'PaySourcing' as well as of the routing gateway 'PayPipe'. 'PaySourcing' allows clients to outsource all relevant eCommerce-typical payment and risk management processes into the cloud or to become a payment service provider in a cost-, time- and resource-saving way.Less..
Phone : 89-45230552
Published On:August 20, 2013
Print Release:Print Release
If you have questions regarding information in this press release contact the company listed above. I-Newswire.com is a press release service and not the author of this press release.The information that is on or available through this site is for informational purposes only and speaks only as of the particular date or dates of that information. As some companies and PR Agencies submit their press releases once per week,month or quarter, make sure to check the official company website for accurate release dates as our site displays the I-Newswire.com press release distribution date only.We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for or omissions in that information or for actions taken in reliance on that information.
New Customers Signing Up Before Christmas Would Receive the First Service Free
GMG Will Carry BRC Food Safety Manual as Per BRC Global Standard Issue 6
How to Get Approval to Contractor Mortgages?
Promotional Items That Tell a Tale
Lynwood Self Storage Ca