The MID and TID are assigned to a merchant by us so the merchant can accept card payments. One terminal can be assigned to only one merchant.
Multiple payment method
We support Mastercard and Visa card acquiring, Apple Pay, Google Pay, Money Send and Visa Direct. All currencies are accepted, except those limited by the card schemes. You should provide the needed transaction currencies in the application form. Our settlement currencies are EUR, GBP, BGN, USD, RON.
Visa Direct and Money Send
Are real-time cards transfers. The funds amount should be on the card number within 30 min or less, if the issuing bank accepts it at this time. There are banks that process transactions in a few days. The Original Credit Transaction (OCT) is a type of transaction that can be used to send funds to eligible Visa/Mastercard cards. Transfer is facilitated directly by the Card scheme. Examples of Visa Direct and Money Send services are money transfers, funds disbursements, digital wallet load, real time deposit, gambling payouts etc. Visa Direct and Money send transactions are initiated via merchant account opened with Paynetics and prefunded with us. Their advantages include speed, convenience, security, lower costs, and global reach.
Physical, Software and Virtual POS
Physical POS
We have certified several types of physical payment terminals and can offer them through a partner. A physical payment terminal, also known as a point of sale (POS) terminal is a device which accepts payment cards. If you need to certify a payment terminal, we can support you but keep in mind that the process is time-consuming.
Software POS
We offer software POS via our partner Phos. They leverage any smart Android device into a contactless point of sale terminal by allowing card acceptance and digital wallet payments without any additional hardware. The Phos provide seamless experience and great benefits to your merchants. SoftPOS solution allows merchants to accept card payments directly on their Android device without the need for any additional software.
Virtual POS
We offer acceptance via website or mobile application, where the payment page is provided by the PSP, ISO or other vendor, who is connected with you
3D Security
The domain security is used in e-commerce transactions as the second factor of authentication. When a client wants to buy goods or something else from a merchant website for example, the client enters his debit card details in merchant payment page. This card details are sent to the acquirer and the authentication part is triggered. 3DS v.2 supports two types of authentications, challenge via OTP (One Time Password) or Biometrics. In case of a challenge the client is redirected to his card issuer web page to complete the OTP or Biometric challenge. You can use our MPI (Merchant plug in) or you can choose your MPI provider for 3D secure
Swift and Frictionless Payouts
You can open Paynetics payment accounts in EUR, GBP, BGN. The business accounts which we offer are with dedicated IBANs for EUR and BGN and accounts with Sort code for GBP. You can issue virtual and physical Mastercard and Visa cards, enabled for Apple and Google Pay. You can execute outbound and receive inbound transfers via SEPA, SEPA Instant, Faster Payments, and CHAPS. Since we use our own infrastructure, your settlement can be done faster. We support rich payout configurations based on the merchant risk profile. If you do not use our payment infrastructure you can give us details of the payment account to which we will transfer your payouts. The payout periods by default are weekly but can be changed for low-risk merchants. We can schedule payouts based on the T + N formula where T is the date of processing and N the number of days delayed after processing. Example T+3 – on the third day after processing the transactions a payout will be initiated for all processed transactions three days ago. The final decision about the payout schedule is taken per partner and merchant by the risk department.
Chargeback
Chargebacks are handled by us. Our experienced and well-qualified chargeback team owns the end-to-end chargebacks process. We will work to find the best solution for your business to help mitigate fraud risks and boost sales at the same time. We have great track record of resolving complicated cases. Your merchants can implement remediation tools (RDR for Visa/ Collaboration flow for Mastercard) for chargeback mitigation if required by Paynetics Risk team or if you want to.
RDR (Rapid dispute resolution) and Collaboration flow
They offer the ability to resolve disputes by preventing a chargeback. Example: a cardholder is not satisfied with a product/service, he claims his money back from his issuer. RDR/Collaboration flow facilitates dispute resolution without the need for a chargeback.
Supported transaction types
Partners can be integrated with us via API or directly with Equens Worldline via GICC protocol. We support different transaction types which can be routed to 3 different processors: Equens Worldline for all transactions, BORICA for local transactions and BPC for Money Send and Visa Direct.
Pre-Authorization
A temporary hold placed by a merchant on a customer’s card. During the hold period, the funds are unavailable to the customer – they will not be able to spend them elsewhere. Although the funds cannot be accessed in their account, no money has been debited in the pre-auth.
Authorization
Authorization is initiated to verify the payment details. This transaction also blocks the funds to be captured in the next step. This is the process of the card issuer (like Visa or Mastercard) verifying payment details and reserving the funds to capture it later. The gateway and payment processor required validation and risk checks and asked a corresponding card network to authorize this payment from an issuer.
Capture
We support separate transaction type capture from the authorization one. It is up to you and based on the merchants you are processing. You can either process the authorization separately from the capture or process the capture together with the authorization.
AFT Visa
Account Funding Transactions (AFTs) involve transferring funds from a Visa account to another Visa or non-Visa account. These transactions are typically used for: Account Top-Ups: Funding digital wallets via linked payment cards or bank accounts; Prepaid Card Load/Reload: Adding funds to prepaid cards owned by the same individual/entityPerson-to-Person Transfers (P2P): Funding accounts for P2P transfers; Account-to-Account Transfers (A2A): Moving funds between personal accounts; Purchase of Liquid and Cryptocurrency Assets. Account funding transactions require a merchant pre-approval from Visa and have follow a different enablement process.
OCT
OCTs are a type of card-based transaction that allows businesses to send funds directly to a recipient’s Visa or Mastercard-branded card. Unlike traditional acquiring (where money flows into the merchant), OCTs are used for outbound payments, such as: Disbursement of winnings (e.g. gambling or gaming); Forex and crypto-to-fiat payouts; Account-to-account or peer-to-peer transfers. With OCT, the merchant sends a request via API, and if the recipient's card issuer supports Fast Funds, the payout is typically received in under 30 minutes. OCT is compliant with card scheme regulations and is often embedded as part of a broader acquiring solution rather than offered as a standalone service. OCTs are executed from a dedicated account for the purpose of the merchant-funding account. OCT Account is the account from which OCT payments are sent. The merchant must have a separate funding account for each currency they want to send OCT in. The merchant can’t send OCT in a currency different from one of the funding accounts you have appointed in the API call for executing an OCT. For partners' merchant, the OCT account is an e-money account with no card linked to it. The merchant will be the beneficiary of this e-money account. At any point, the merchant can request a partial or full withdrawal (buying back e-money) from this account. Merchants can use their OCT account to receive the payouts from their acquiring. The funding accounts are automatically opened upon merchant onboarding.
Refund
If an authorized payment has not been captured yet, a merchant can cancel the authorization. If the authorization has been captured, you also can process refunds. We always setup limits on the refunds, to be sure that you have enough money to satisfy it. Refunds can be processed up to 30 days of the transaction.
Reversal
The payment transaction is cancelled by the merchant.
Purchase
Performs debit financial transaction.
Recurring payments
Recurring payment is a payment model where customers authorize business owners to charge for their subscribed products on a predefined schedule.
Chargeback
A shopper may request a chargeback and initiate a dispute transaction if it does not recognize the transaction or service is not provided or goods are not received. It is good for the cardholder to try to resolve the request 7 with the merchant before the dispute is initiated. After a chargeback is received, the merchant can send representment, if he can support with enough evidence or accept the disputed transaction. If a dispute is allowed, the merchant should provide all necessary documents to PSP or directly to us.
MOTO
A card-not-present transaction where the shopper provides you with their order and payment details by regular mail (not email), fax, or telephone. Outdated and high-risk method but still used in some industries.
AVS
Address Verification Service (AVS) is a tool provided by credit card processors and issuers to detect suspicious credit card transactions and prevent credit card fraud. The AVS checks the billing address submitted by the card user with the cardholder's billing address on record at the issuing bank.
CoF
A Card on File transaction is a transaction where a cardholder authorizes a merchant to store the cardholder’s payment details and to bill the cardholder’s stored account for consecutive transactions.
UCof/CIT
PSP needs to flag properly the Unscheduled Card on file transaction/Consumer Initiated transaction for subsequent payments. A transaction using a stored credential for a fixed or variable amount that does not occur on a scheduled or regularly occurring transaction date, where the cardholder has provided consent for the merchant to initiate one or more future transactions
FX Visa service
VISA Service – Visa Foreign Exchange Rates V2 API. Foreign Exchange Rates V2: Retrieve current exchange rates between supported currencies. Currency Support: Includes USD, EUR, GBP, JPY, CAD, AUD. Markup Rates: Optional markup rate support for conversion calculations. Card Acceptor Info: Support for card acceptor information fields. Source Settlement: Convert based on source settlement currency. Validation: Full request validation with comprehensive error handling.