SafeCharge Rolls Out All-in-One API Payments Solution
- The launch of SafeCharge's Marketplace Manager will focus on a wide range of payment needs simultaneously
The Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term sector continues to be transformed and shaped by growth, pain points, and a shifting retail market. Amidst these changes, SafeCharge (LON: SCH) has unveiled a new API-based solution to cover a wide range marketplace needs, emphasizing the white label onboarding seller process and other utilities.
The London Summit 2017 is coming, get involved!
SafeCharge’s new rollout of its Marketplace Manager will focus on a composite of payment needs simultaneously by leveraging its existing payment engine. The solution’s launch coincides with an upcoming wave of new regulations that payment processors will be dealing with, including Europe’s PSD2, which necessitate a payment institution license for specific handling functions.
Compliance needs in focus
In light of these needs, the solution will deal with issues of compliance, as its outsourced API will help assume all responsibility for all requisite payments Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term. As such, marketplaces will be relieved from KYC requirements at the onboarding state, ultimately mitigating complications of becoming a 'payments institute' as well as descoping their respective PCI compliance liability.
Moreover, the Marketplace Manager will shore up onboarding demands through access to SafeCharge’s API – sellers will only be required to provide a minimum amount of information while the rest of the KYC information and selection of a pay-out option can be completed and postponed until a later stage. This development will aim to make this process more seamless, which has loomed as a potential deterrent historically.
Utilizing its singular API, Marketplace Manager will also address and curb any potential pain points for marketplaces. This will entail a focus on conversion and improved localized payment experience. In doing so, SafeCharge has also decided to deploy a Smart Payment Management, which allows for funds to be held in a segregated escrow account until the service is fulfilled.
David Avgi
David Avgi, Chief Executive Officer of SafeCharge, commented: "Marketplaces use a different model to traditional retailers that creates complexity and a plethora of challenges which the payment industry has been slow to recognise and address.”
“Working closely with existing marketplace customers, we have painstakingly created a solution that addresses their major challenges head on, from operational control to regulatory compliance and bi-directional payments. A solution that allows marketplaces to meet complexity with simplicity, opacity with transparency and uncertainty with foresight,” he added.
The development follows on the heels of a recent partnership with Chase last month, helping facilitate payments processing in the US. The deal helps SafeCharge’s merchant customers benefit from card processing under US domestic conditions, shoring up acceptance and more optimized payments experiences.
The Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term sector continues to be transformed and shaped by growth, pain points, and a shifting retail market. Amidst these changes, SafeCharge (LON: SCH) has unveiled a new API-based solution to cover a wide range marketplace needs, emphasizing the white label onboarding seller process and other utilities.
The London Summit 2017 is coming, get involved!
SafeCharge’s new rollout of its Marketplace Manager will focus on a composite of payment needs simultaneously by leveraging its existing payment engine. The solution’s launch coincides with an upcoming wave of new regulations that payment processors will be dealing with, including Europe’s PSD2, which necessitate a payment institution license for specific handling functions.
Compliance needs in focus
In light of these needs, the solution will deal with issues of compliance, as its outsourced API will help assume all responsibility for all requisite payments Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term. As such, marketplaces will be relieved from KYC requirements at the onboarding state, ultimately mitigating complications of becoming a 'payments institute' as well as descoping their respective PCI compliance liability.
Moreover, the Marketplace Manager will shore up onboarding demands through access to SafeCharge’s API – sellers will only be required to provide a minimum amount of information while the rest of the KYC information and selection of a pay-out option can be completed and postponed until a later stage. This development will aim to make this process more seamless, which has loomed as a potential deterrent historically.
Utilizing its singular API, Marketplace Manager will also address and curb any potential pain points for marketplaces. This will entail a focus on conversion and improved localized payment experience. In doing so, SafeCharge has also decided to deploy a Smart Payment Management, which allows for funds to be held in a segregated escrow account until the service is fulfilled.
David Avgi
David Avgi, Chief Executive Officer of SafeCharge, commented: "Marketplaces use a different model to traditional retailers that creates complexity and a plethora of challenges which the payment industry has been slow to recognise and address.”
“Working closely with existing marketplace customers, we have painstakingly created a solution that addresses their major challenges head on, from operational control to regulatory compliance and bi-directional payments. A solution that allows marketplaces to meet complexity with simplicity, opacity with transparency and uncertainty with foresight,” he added.
The development follows on the heels of a recent partnership with Chase last month, helping facilitate payments processing in the US. The deal helps SafeCharge’s merchant customers benefit from card processing under US domestic conditions, shoring up acceptance and more optimized payments experiences.