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Acapture introduces SlicePay, a PSD2-compliant payment product that supports merchants to handle complex split settlements

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Quick integration and no upfront fees, while meeting all PSD2 requirements

AMSTERDAM, The Netherlands, Sept. 14, 2017 (GLOBE NEWSWIRE) -- Acapture, a global, data-driven omnichannel PSP, has launched SlicePay, an easy-to-integrate product designed to reduce the burden of payouts to multiple parties in various countries and currencies. By adding SlicePay to its portfolio, Acapture now offers a BaFin validated, PSD2-compliant solution to its international clientele. It supports marketplaces, sharing economy operators, franchises, online travel agencies and other companies handling third-party funds to become fully compliant with PSD2 (Payment Service Directive 2).

Through PSD2, the European Union (EU) opens up the market to new parties, lowers the influence of banks and adds new measures to protect citizens and their funds. Organizations that operate a marketplace business model, handling transactions between two or more parties, when either or both of the parties are located in the EU, are severely disrupted by PSD2. They need to either obtain a payment institution license or find an accredited partner to fulfill the transactions on their behalf. This also applies to Asia/US based merchants if they want to expand their business into the European region. Obtaining such a license is costly both in terms of time and resources.

As a licensed payment institution in the EU, Acapture is accredited to handle these types of transactions on its merchants' behalf. Acapture will process and collect the funds, which are then securely stored in a trusted third-party account. Through simple and automated set of APIs calls, the merchant can instruct the system to split transactions and payout funds to its sellers. The seller can receive funds directly into their bank accounts, with no need for e-wallets. The solution does not interfere with the merchant's business model, offering a compliant solution, keeping the consumers' funds safe and secure.

Alongside the challenge of PSD2, these organizations also need to manage complex payouts to various partners. With one RESTful API, SlicePay makes this process simple through an automated payment system. The marketplace receives a single payment from the buyer, which SlicePay splits between the sellers, in the right currency, at the right time and in compliance with all regulations. If needed, a secured account can be used to hold the funds until the product has been delivered. 

Marketplaces can use SlicePay to handle their seller's transactions regardless of whether or not the seller is a client of Acapture, as the on-boarding and client management is all done on their side. By doing so, the full customer experience remains in the hands of the marketplace.

"We let merchants focus on growing their business and we take care of the rest. With regulation cited as one of the top ecommerce challenges, merchants are about to face a highly disruptive legislation change, namely the activation of the revised payment services directive," said John Snoek, VP Product at Acapture. "Online marketplaces are currently experiencing massive growth  and that's what they should continue to focus on: refining and following their own growth strategies. When developing SlicePay we aimed to offer such companies a flexible, cost-effective payment solution that makes PSD2 compliance feel easy, allowing them to concentrate on developing their business."

Companies that fail to become PSD2 compliant could face major financial penalties if found operating without a license from January 2018 onwards. More information regarding the implications and consequences of PSD2 can be found in Acapture's latest research reports, available here. Marketplaces can check if PSD2 affects them here.

About Acapture
Acapture is the subsidiary company of Payvision, one of the world's fastest growing global card acquiring networks. Licensed as a payment institution by the Dutch Central Bank, Acapture combines with Payvision to maximize the revenues of merchants and help them grow their business globally. This is done through a complete data-driven omnichannel payment solution, capable of managing a payment at every stage, from checkout to fund collection to settlement.

Together with its parent company, Payvision, Acapture, was awarded Best PSP at the 2017 MPE Awards in Berlin, and it specializes in maximizing revenue for merchants and marketplaces with international ambitions. Acapture's system features SlicePay for simplified allocation of funds to multiple parties from a single transaction, data science management for improved authorization rates, a one-day integration using one RESTful API, flexible, consolidated reporting, a streamlined reconciliation process, global card acquiring and the ability to handle 80+ of the most popular alternative payment methods and 160+ transaction currencies.

Find out more on www.acapture.com and follow Acapture on Twitter @Acapture_GlobalLinkedInFacebookYouTube and Corporate blog. For further information, please contact: Alina Geosanu | PR & Communications Assistant; e-mail: alina@payvision.com




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Acapture BV via Globenewswire

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