KIEL | German-based payment service provider PAYONE has been granted a licence on the basis of the German payment services directive (PSD). PAYONE is now a regulated payment institution and has now the right to provide payment transaction services to which only banks were entitled.
One Partner for Payment Processing
PAYONE is now able to process transactions ánd to take care of settlement of payments to online merchants and businesses for multiple payment methods. By streamlining transactions and payouts to merchants, it lowers the administrative and reconciliation burden. In addition, there is need for merchant to separately contract payment brands or banks - normally taking care of the payouts of local and international online payment methods.
The expanded range of services means that online merchants have a central partner and are able avoid unnecessary efforts and costs. Both large and small online merchants operating on an international level can save time when introducing new types of payment. By adding new and more locally preferred payment methods, they are able to boost their potential sales by offering their clients all relevant country-specific and international types of payment in an uncomplicated way.
Just One Contract
"We intend to make the issue of payments as easy and as efficient as possible for our clients. In the past, online businesses had to conclude several contracts with different acceptance partners such as banks, credit card companies or providers of alternative payment means."
Thanks to the authorisation as a payment institution, these retailers and businesses no longer need to do that - just one contract with PAYONE allows them to accept payments through numerous types of payment used for electronic and mobile commerce", explained Carl Frederic Zitscher, co-founder and CEO of PAYONE GmbH.
Tapping into the Value Chain
Thanks to the authorisation as a payment institution, PAYONE - processing several billion euros a year - strengthens its position on the payment market and taps into significant parts of the value chain which were previously reserved to international commercial credit institutions and specialised acquirers.
PAYONE with headquarters in Kiel (Germany) is one of the bigger payment services providers in Europe and ranks among the 50 fastest-growing technology companies in Germany. With its modular platform, PAYONE offers a software-as-a-service solution (SaaS) to companies for fully automated and comprehensive processing of all payments in e-commerce.
The range of services includes the processing of payments from over 30 national and international payment methods with integrated risk management to minimise defaults in payment and fraud. Additional product modules make it possible to outsource the management of accounts receivable, the issuing of invoices as well as the processing of subscriptions. Standardised interfaces and software development kits allow for a simple integration into existing IT and mobile system environments. Extensions may also be easily integrated into e-commerce systems.
PAYONE is a company of the Savings Banks Finance Group, having among its clients more than 2500 e-commerce companies from a variety of sectors and countries. This list includes well-known companies such as Immonet, Globetrotter Ausrüstung, HD PLUS, Fujitsu, Zalando, Hawesko, Sony Music and Hallhuber. PAYONE has around 100 employees.