Credit Card Payments
The more payment methods a merchant can offer, the more customers will be reached. Wirecard group makes it possible for merchants the world over to integrate electronic card payments – effectively, safely and quickly.
Key advantages:
- Use of all major credit and debit cards
- Effective risk management concepts
- Secure data transmission and processing
- Low processing costs
- Highest availability – also during peak periods
Credit and debit cards have become indispensable for online retail. However, card-based payments also mean high requirements in efficiency, data security and system availability. As a leading provider of integrated concepts for electronic payments, Wirecard group offers full service of the highest standard, also in credit card processing. Wirecard works together with all reputable credit card organizations worldwide, as well as numerous acquirers.
We offer merchants from around the globe efficient access via a standardized interface to a system that is notable for its payment processing and extensive fraud protection. Based on the latest security standards, this platform fulfills all requirements imposed by the credit card organizations including PCI certification, and supports the processing of additional industry-specific data, such as the airline, hotel and car rental industries.
ADVANTAGES
Advantages of payments with credit cards
- Supports all credit and debit cards by Visa, MasterCard, Maestro, JCB, Diners Club, Discover and American Express
- All established payout and transaction currencies
- Connected to a multitude of acquirers and financial institutions
- Recurring and subscription payments
- 3D Secure (Verified by Visa and MasterCard SecureCode) - partial and multiple debits
- Address Verification Service (AVS) for credit cards
- Card security code validation (CVC 2/CVV 2) - dynamic describer - processing of additional industry-specific data from the hotel, airline and car rental industries
- Secure data transmission (SSL encrypted)
- High availability and system redundancy - Connects easily to the system via online and offline XML interfaces and payment page (PCI compliant)
- Web-based administration interface for transaction management and reporting
- Integrated risk management solutions
CASE STUDY
Processing a Card Payment
- A customer enters his data on the merchant’s website. The data is then transmitted from the consumer’s computer to the merchant’s system via a secure connection.
- The merchant’s system automatically sends a request for authorization of the sale containing all payment data to Wirecard. The data is verified there. The result of this verification is immediately transmitted to the acquirer bank.
- The acquirer now transmits the request for authorization of the sale to the issuer (bank of the card owner) via the card provider – for instance VISA or MasterCard.
- Depending on the type of request, the issuer either pays the amount minus the discount rate directly to the acquirer or at fist simply confirms and holds it. The customer’s account is debited separately. This is usually done once a month.
- The acquirer books the amount minus the agreed merchant’s fees paid to Wirecard.
- After deducting the agreed discount rate Wirecard credits the final amount to the merchant.
- The merchant sends the customer a purchase confirmation by e-mail or as an on-screen message.
