On March 1st, ABN AMRO, First Data and their joint venture EMS celebrated the first step towards a omnichannel payments offering for merchants with physical outlets and online shops.
EMS - historically a pan-European card acquirer - now transforms into a one-stop-shop payment processor for card and alternative payment methods.
European Merchant Services is a joint venture between ABN AMRO Bank and First Data and holds acquiring licenses for all major debit and credit cards, including MasterCard, Visa, Maestro, Diners, Discover, JCB and UnionPay. In 2014, EMS added Bancontact/Mister Cash for Point of Sale and e-commerce to its portfolio.
Single Point of Contact
ABN AMRO is now able to offer its merchant clients a single point of contact ánd contract for the acceptance of debit- and credit card payments, whether conducted through their Point-of-Sale or web shop.
Contrary to the current situation whereby online merchants need to have a separate payment service provider ('gateway') to connect to EMS, they now can directly integrate with the EMS payment platform. Not only for the acceptance of cards, but also for alternatives like iDEAL, Bancontact and PayPal.
'In-House Payment Service Provider'
ABN AMRO follows suit with their Dutch banking competitors Rabobank and ING Bank. Rabobank's Omnikassa was launched years ago, whereas ING Bank just launched their ING Complete Checkout payment solution in October last year - also aimed a small and medium sized businesses.
So now the top 3 Dutch commercial banks have their own 'in-house' payment service provider solution, positioned to make life easier for small retailers and businesses with the ambition to sell online.
Article by About-Payments Editorial Team, March 3rd, 2016