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Acquiring: Payment Processing for credit & debit card payments
Wirecard provides solutions for smooth processing of card-based payments.
Key benefits of our Acquiring services:
- Use of all important 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. On the other hand, the number of offences concerning credit card fraud and the damage due to default is increasing worldwide. The acceptance of credit cards is thus only feasible in connection with effective risk management.
There are also the high requirements in efficiency, data security and availability of the systems to consider. As a leading provider of integrated concepts for electronic payment processing, Wirecard offers full service of the highest standard, also in credit card processing.
As an international payment processor Wirecard cooperates with all credit card organizations worldwide, as well as numerous acquirers. Wirecard offers 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.
This platform is based on the latest security technologies, fulfills all requirements imposed by the credit card organizations including PCI certification, and supports the processing of additional industry-specific data from the airline, hotel and car leasing industries.
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.
BENEFITS
Wirecard – easy, secure, efficient Acquiring
- All established cards and currencies available
- Automatic currency conversion possible
- Fully-automated processing procedure
- Extensive, state-of-the-art risk management
- Secure data transmission (SSL encrypted)
- Easy connection to the system via XML interfaces
- High availability (24 hours a day, 365 days a year)
- Administration via an Account Management System (ACM)
