Ingenico - Payment Methods

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INTERNATIONAL CREDIT CARDS

With international credit cards still paving the way for most customers to shop online, merchants and businesses looking to reach out to an international market should supply credit card payments.

Credit Cards
The cardholder receives a credit from the issuer. The balance is rolling and settled on a monthly basis.

Debit Cards
The amount of the purchase is withdrawn from the available balance on the cardholder’s account. If there are not sufficient funds on the account, the transaction is declined by the issuer.

Prepaid credit cards
Cards are loaded with money in advance to create a balance that can be spent.

DOMESTIC CREDIT CARDS

Domestic cards operate much like international models, but are used in specific countries. Consisting of mostly debit or credit card payments, these cards are often co-branded with VISA or Mastercard for use outside the country borders.

Although co-branded, the domestic branding is often dominant within a country. For example; in Belgium, Bancontact cards are co-branded with Visa or Maestro, but most consumers won’t recognise and will opt for the localised brand.

The best known domestic schemes in Europe are:

Wallets

Wallets are increasing their market share on an international level. They’re user friendly, simple and convenient. As wallets contain delivery and invoice data, they have the capability to authenticate the consumer in one single step.

Payment wallets

These wallets authenticate the consumer and process the payment. The most popular examples are PayPal and Alipay.

Container and authentication wallets

Container wallets are taking care of authenticating the consumer and in return provide payment data to process the payment method through a known payment method (e.g. VISA or MasterCard). As a consequence as a merchant you also need to have an acquiring contract with these payment methods to process the payment.

Real-time Banking

Real-Time Banking (RTB) solutions are very popular in Europe. Customers make online payments via their bank to make purchases or to transfer money instantly. It’s very consumer friendly as it uses the bank environment or bank app the consumer is used to.

Offline Bank Transfers

An offline bank transfer enables your customer to pay using a payment reference they received when purchasing – but authorisation is not instant. When choosing offline bank transfers as a payment method, you should only ship goods upon receipt of the money in your account.

Direct Debits

While most payment methods are push-based, a direct debit is a pull payment method where the merchant withdraws money from the customer account, generally to pay bills or standard, repeat payments.

Open Invoice & Instalments

This payment method allows customers to pay for their purchase after delivery; sometimes in one transaction, sometimes in instalments. The customer shares information on invoicing and delivery but does not share any credit card or other payment details (e.g. Klarna).

Credit Consumption

Credit consumption offers customers the chance to open a financial agreement to buy goods on credit. This payment service is popular in Southern Europe (France, Spain and Italy, e.g. Oney, Cofidis)

Prepaid or Gift Card

Customers upload a card or receive a gift voucher before they can use it to purchase a product. Authorization of these cards is online and instantly (e.g. Fashioncheque, Illicado, PaySafeCard).

Cash-based Payment Methods

The customer purchases a product or service online and receives a unique reference to pay for the purchase at an affiliated outlet, store or ATM (e.g. MultiBanco)

Full service payment capabilities

In traditional models, you would sign a contract with each party, do a direct integration with multiple payment methods and – as a consequence – have multiple reporting formats to deal with, multiple payment terms to manage in your accounting cycles and multiple contacts to reach out to when you have a problem.

With Ingenico’s offer, we simplify your life by offering one single solution to accommodate all your needs – and one contact person to help you grow your business.

Ingenico Premium includes the 14 essential payment methods to ensure you offer customers their preferred local payment method. Streamlined, all-in-one integration. You’ll also get instant access to more than 150 alternative payment methods via your gateway integration, e.g. American Express, PayPal, P24, Gift cards.