Best CNP Program Outside the US
Payvision, based in Amsterdam, leveraged its e-commerce processing technology and presence in 40 countries around the world into the 2013 Judges Choice award in the Best CNP Program Outside the U.S. category. The company, founded in 2002, offers its international payment processing platform to acquiring banks, PSPs, ISOs and their merchants. Payvision is the fastest growing independent global acquiring network in the world, according to the company. And, in an expanding and profitable cross-border e-commerce market, Payvision relies on a non-competitive partnership model in which all stakeholders share revenue.
Payvision says its full-service model rests on four pillars: global card processing, sharing expertise, technical innovation and integrated risk management.
Even though acquiring banks offer domestic payment solutions, Payvision says banks need a full-service platform and international business partners to offer merchants global payment processing, which services cross-border transactions on a global scale. Its revenue-sharing model allows the company to build relationships with acquiring banks. When merchants of those acquirers get transactions from outside the region, they can be processed by an acquirer connected to the same global acquiring platform. Payvision facilitates this.
From an expertise-sharing perspective, Payvision’s experience and local payments knowledge in many different countries enables them to advise clients on issues like multiple currency processing, BIN sponsorship, regional interchange rates, underwriting protocols and risk management.
With more than a quarter of Payvision’s employees engaged in R&D, its commitment to developing innovative payment solutions is clear. High-availability is crucial to credit card processing, and security is key, particularly in a CNP market space which is extra vulnerable to financial crime.
As for risk management, Payvision advocates a holistic approach both to merchant underwriting and to antifraud measures that protect the merchant once they are onboard.
Payvision says resellers and their international merchants will benefit by connecting to its secure full-service payment processing platform. At the same time, acquiring banks benefit from its expertise in the cultural, legal and linguistic challenges that a domestic acquiring bank faces when trying to expand internationally.
Also, in-depth knowledge of the international card payments industry enables Payvision’s experts to share knowledge related to global card processing, innovative payment solutions and risk and fraud management. By doing so, Payvision’s partners are able to save resources and costs. Ultimately, the company says sharing best practices will lead to a better understanding of the market.