SPOTLIGHT | About-Payments gives the stage to Payment Service Providers, Payment Gateways and Solutions to highlight their business, products and value to merchants selling via the internet. In this fourth edition of the 'About-Payments Spotlight' it is time to meet AltaPay.
AltaPay - formerly known as Pensio - was founded in December 2008 in Copenhagen with the purpose of delivering value added payment services to international omni-channel merchants. In April this year the company announced its rebranding to AltaPay to underline the company’s new global ambitions. One of its core goals is to make payments less complicated and create a level playing field for larger merchants.
#1 - How would you describe your business to merchants new-to-game?
AltaPay makes payments less complicated.
For a growing number of household names in retail and digital commerce, AltaPay implements and manages global payment processing solutions for our clients by connecting them to a wide array of banks and financial institutions, who collectively support all relevant methods of payment.
All required payment methods and 3rd party services can be accessed via one technical connection. Furthermore our platform automatically calculates the corresponding financial data, which can be viewed in dashboards or provided via a single API.
By making payments less complicated AltaPay reduces operational overhead for our partners, allowing them to focus on their core business.
#2 - What makes you different from other Payment Service Providers / Merchant Acquirers?
Assured reliability, flexibility and transparency.
Our modular platform gives merchants as much creative control and flexibility as they desire, while AltaPay takes on the liability of financial data storage (to PCI level 1). Perfectly set up for A/B testing, the checkout flow and design can be changed as often as our partners please.
Following a simple integration AltaPay’s payment management concept kicks in. Here we give direct access to a host of acquiring banks, alternative payment providers and 3rd party service providers (anti-fraud, financial systems, FX services etc.). Taking care to always provide a personal service encompassing consultancy, contract negotiation and execution, support and conversion analysis.
Finally AltaPay’s platform is set up to provide complete transaction transparency across all connected payment options and channels. This shows all costs and reconciliation data via a single API or in customisable online dashboards.
#3 - What are the triggers for online merchants to switch to your platform?
AltaPay brings most value to merchants who are expanding internationally, operating multiple sales channels, or seeking to unify and standardise payment connections across a group of companies.
Having said that you don’t need a complex operation to benefit from our services; AltaPay strives to make payments less complicated irrespective of a merchant’s business model.
#4 - What merchants or markets are you targeting?
Put simply AltaPay seeks to bring value to every relationship.
Today this means we are actively engaged with a host of retail sector businesses that are looking to optimise the way they manage payments across multiple sales channels. Also international intangible goods businesses who see complexity in payment methods, currencies and tax requirements. Our geographic focus is primarily on merchants based in Europe and the USA.
#5 - What may merchants expect in nearby future from your company?
- On-going product development based on market changes and merchant/partner requirements.
- A continued expansion of our partner network. One example is the recent announcement by Netsuite that AltaPay are the 1st payment partner connected, positioned to take the lead in their EU programme.
- A host of household names to start using AltaPay; merchants like BooHoo.com, Kate Spade, Bang&Olufsen and Wargaming already do.
#6 - What are the important trends in online payments from your point of view?
A major trend is the growth in sales channels and different devices that both merchants and service providers have to cover, thus creating front end challenges to ensure that the consumer experience feels consistent across all devices and locations.
Ensuring that the crucial financial data is delivered to the business harmoniously across all channels is a concern for operations who are not fully prepared for this change.
Everyone has something to say on the Omni-channel topic right now, it’s a conference favourite. However, the dream in its true sense is yet to be fully realised or the winners and losers identified.
#7 - What is your best advice to merchants expanding their business cross-border?
From a payment perspective, give some attention to customer preferences with respect to payment flow, methods, currency, language etc. There can be big differences between one country and another. In the end this is as much to do with customer experience as it is about converting payments (getting your customers to complete the checkout process).
An increase in payment complexity regarding settlement times and costs, and (depending on business model) taxation requirements. Here merchants need a payment partner who has solved the financial puzzle already, or alternatively some more people in your finance team.
#8 - Cards and Alternative Payment Methods: Competitors or Best Friends?
Possibly both, but in the end all payment methods compete for a share of the checkout, so there will always competition for customer clicks and ultimately transaction volume. Whether they can be friends depends on the specifics, such as is X payment option a funding option for Y (credit cards being the primary funding option for Wallets such as PayPal, or indeed ApplePay).
One interesting development in the EU is the conclusion of SEPA (Single European Payments Area). This brings a real alternative to cards for subscription/on demand payments across Europe, in the form of direct debit. Though in its infancy with respect adoption, online solutions already exist. Given increases in on demand payment flow across a range of industries this is one to watch.
AltaPay was founded in December 2008 in Copenhagen with the purpose of delivering value added payment services to international omni-channel merchants. For more information about their services and their team, please visit www.altapay.com.
Who are your Payment Partners?
AltaPay collaborates with a wide array of partners, allowing them to manage all payment needs. For more information please click here.
Contact and Social Information
For more information please visit AltaPay’s website, AltaPay’s About-Payments Page, or join them on Facebook, Twitter and Linkedin. To talk about how they can improve your business, contact firstname.lastname@example.org.