Once the consumer clicks pay, they’re taken to a payment page. This then connects to the payment gateway, which creates a payment request and sends it to the acquirer.
Full-service payment capabilities
Clicking ‘pay’ is central to each sale, ultimately governing a business’s success. Yet many merchants are unaware of how money makes its way across the ether. Each online transaction involves a variety of parties working in unison to get the funds from the shopper to the merchant bank account quickly and securely.
Having a deeper understanding of these processes helps businesses refine their operations for a better customer experience and allows them to step in at the right part of the process if there’s an issue, reducing disruption and costs.
SO, WHAT HAPPENS AFTER THE CONSUMER CLICKS PAY?
The acquirer receives the payment request from the payment gateway, then submits the transaction to the issuer via the card network. The issuer approves the transaction and sends the acquirer the retail price.
The merchant is paid by the acquirer minus the cost of the transaction. This fee includes the card network’s scheme fees, the issuing bank’s interchange fees and the acquirer fees.
The consumer’s account is debited with a retail price. This retail price appears on the statement of the merchant.
The institutions on the top are involved in the payment process. Your bank, the technical gateway, the acquirer, the various payment systems, etc.
In traditional models, you would sign a contract with each party, perform direct integration with multiple payment methods and – as a result – handle multiple reporting formats, manage multiple payment terms in your accounting cycles, and reach multiple contacts when you have a problem.
With Worldline's full-service offering, we simplify your life by providing you with an all-in-one payment solution for all your needs – and one point of contact to help you grow your business.
Full Service payment capabilities
In traditional models, you would sign a contract with each party and then carry out a direct integration with multiple payment methods. As a consequence you would have multiple reporting formats to deal with, multiple payment terms to manage in your accounting cycles, and multiple contacts to reach out to when you have a problem.
With Worldline, we simplify your life by offering a single solution to accommodate all your needs – and one contact person to help you grow your business.
For example, we have a solution that includes the 14 essential payment methods, to ensure that you offer your customers their preferred local payment method. Streamlined, all-in-one integration. You’ll also get instant access to more than 150 alternative payment methods via your gateway integration, e.g. American Express, PayPal, P24, gift cards.
AS A PAYMENT PARTNER, WORLDLINE WILL SUPPORT YOU THE WHOLE WAY
With decades of experience and a range of experts specialising in each field, Worldline is perfectly placed to be the right partner for you. As frontline innovators, we are on the cutting edge of the latest payment technology and can help answer any queries you have regarding your business operations and how a bespoke payments plan could benefit your company. For more information, please get in touch.
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