An acquirer is a company, that:
A merchant account is a special bank account that can receive money from credit card and debit card payments. It is different from your normal business bank account and doesn't need to be with the same bank. The bank that your merchant account is set up with is known as an ‘acquiring bank’ or ‘acquirer’.
Yes. All Paydoo clients need to have a merchant account in order to use our payment services. A member of the Paydoo sales team can help you apply for a merchant account through our acquiring bank network.
We can set you up with a merchant account when you apply for using Paydoo services. Before accepting you as a merchant, we will carry out some standard checks of the business background and financial status. Assuming these checks are successful, we will then assign a unique Merchant ID (MID) to you.
Your merchant account has a unique identifier that banks use for identification. This is called your Merchant ID or MID. A MID gives you the ability to accept card payments.
This MID will also define the type of settings in which you can accept card payments. For example: face to face, online, or over the phone.
There is no fixed term of our contracts.
We can process payments from customers all over the world as long as those countries do not appear on a Blacklist.
We support all currently existing (180) currencies for payment acceptance.
We can settle in the following 16 currencies:
We cater to the following industries:
Please contact us for a complete list on acceptable business types.
Yes, we do. However, this is reviewed on a case by case basis and we do maintain a prohibited list of industries.
We aim to address any questions or concerns you may have within 24 hours.
Paydoo offers credit, debit and prepaid cards, along with a range of alternative payment methods (APM's).
Please contact us to discuss what options are available. We are constantly adding new payment methods.
We are constantly adding more plug-ins but we currently offer the following shopping cart plug-ins:
In order to use Paydoo payment services and solutions you need a company registered in the European Union, compliant with EU legal registration requirements.
Shoppers anywhere in the world can purchase your goods or services even if you price them in a currency different from their local one - if they can provide a card that bears the Visa or Mastercard Logo, and if their card issuers have not applied specific currency restrictions on cross-currency purchases.
Yes, you can. We will set-up a different MID for every website. Compliance checks will be carried out on each registered website.
A MOTO transaction is where card data is collected by the merchant over the phone/email and processed via a Virtual Terminal. This transaction type is considered higher risk in comparison to an E-commerce transaction as it is manually performed by the merchant and not by the cardholder.
A standard E-commerce transaction is when the cardholder inputs their card data when making a purchase for a good or service on a merchants website.
The difference from ECOM transaction is that, after submitting card details via the merchant’s website, the cardholder is redirected to his i-banking system.This is the most secure transaction type as by entering the i-banking system, cardholder proves that not only he has payment card details, but also has access to the i-bank system, which eliminates the possibility of fraudulent use of stolen payment card data.
The payment card details are saved as a token and charged automatically according to a prearranged schedule. This type of transaction is most common for merchants that offer monthly plans and subscription services.
Dual Message System (DMS) is also known as Pre-Authorisation and Capture - the transaction is divided in two parts, first part - the necessary amount is blocked on the cardholders card, the second part - the merchant manually captures the amount.
The merchant has a 7-28 day period to capture the amount. The number of days depends on the terms of the card issuing bank. If the amount wasn’t captured, the funds will be automatically released at the end of the 7-28 day period.
Original Credit Transaction - Allows merchants to wire funds directly to the cardholder. This is common within industries such as Gambling and Forex where merchants need the functionality to settle the winnings to their clients.
The extent to which the payment service provider and/or merchant complies with the Payment Card Industry Data Security Standard (PCI DSS). All organisations that pass, hold or process cardholder information need to comply with these regulations.
If you are using our online payment solutions only, you need to do nothing more than fill out a simple form, as the associated Paydoo service is fully PCI DSS compliant.
If you are taking card payments over the phone or face to face, you will need to fill out a PCI Self Assessment Questionnaire.
We can offer our advice on the most simple ways to set up your business to handle this and comply with PCI guidelines.
3D Secure is a protocol that is designed to provide an additional security layer for online debit and credit card transactions. Visa offers this service under Verified by Visa and MasterCard’s service is called SecureCode.
After submitting card details via the merchant’s website, the cardholder is redirected to their i-banking system. This is the most secure online transaction type as by entering the i-banking system, cardholder proves that not only he has payment card details, but also has access to the i-bank system, which eliminates the possibility of fraudulent use of stolen payment card data.
Commercial cards are covered by the Verified by Visa scheme.
However, as of June 2009, MasterCard has reinstated an exclusion of commercial cards from the global interregional merchant-only MasterCard SecureCode liability shift program.
In all cases regarding questions on liability shifts, we recommend that you speak to your Account Manager.
Tokenization is a procedure in which sensitive data, such as credit card numbers, are encrypted and replaced by substitute numbers called tokens. The original data is kept only in Paydoo’s PCI-compliant data centre, where all information is secured and protected against unauthorized access.
Paydoo’s tokenisation solution enables merchants to offer a one-click-checkout and process recurrent payments.
Our Payment Gateway currently supports the following Channels:
Paydoo's Virtual Terminal is a simple and secure solution, ideal for accepting payments over the phone or by mail order. You simply need to enter the card and cardholder details into a secure webpage, which connects to the Paydoo platform for authorisation. Processing transactions takes just a few seconds and a response is sent back to confirm the transaction response. The Virtual Terminal is browser based and provides a high level of transaction security.
To submit a payment for authorisation via the Virtual Terminal, you must complete the following steps before selecting the 'Make Payment' button.
To enable your business to accept credit and debit card payments online, your business must connect to a payment gateway. Paydoo provides a range of payment gateway integration methods allowing different levels of control over the payment process. For details, please contact our support team.
Yes, we have a range of country controls that enable you to configure transaction blocking where either the card billing address, the card issuer country or the consumers IP address is a match to the Country Blocks you've set.
Yes, we do support recurring transactions, but this is dependant on your business model.
There is no standard limit. A limit on a minimum transaction amount is applied according to an evaluation of your business operations and the types of products/services sold.
There is no standard limit. The maximum transaction amount is determined by an evaluation of your business operations and the types of products/services being sold.
There is no minimum remittance amount applied to the Merchant Accounts. When the funds become available, they are automatically remitted to your bank in accordance with your merchant agreement.
Your trading name or a description in line with your business operations (up to a maximum of 22 characters) will appear on the customers card statements.
A Rolling Reserve is a risk management strategy to protect the merchant and its banks from potential losses due to chargebacks, refunds, claims, outstanding fee's etc.
A portion of the card volume processed will be secured to cover for the potential business risk relating to negative charges. Acquiring banks calculate the rolling reserve amount based on a certain percentage of each transaction. Rolling reserves are kept on hold for a defined period of time and will be released at the end of this period
A chargeback is a full reversal of a transaction by the card issuer. A chargeback is generated when a cardholder disputes a transaction on their credit card statement.
A retrieval request, also known as a "Copy request" or a "Request For Information" (RFI) is a request from the cardholder's issuing bank for copies of a signed sales receipt or other suitable documentation to prove the validity of a transaction. This is normally requested when the cardholder does not recognise a specific transaction on their card statement, or if cardholder's issuing bank has detected the transaction as potentially fraudulent.
Visa & Mastercard impose strict chargeback thresholds beyond which substantial fines can be applied and merchant facilities terminated.
It is, therefore, important to keep chargebacks to a minimum. Paydoo monitors chargeback levels and will alert you when corrective action is required. We will always work with you to help you reduce this risk, by offering guidance and advice on avoiding chargebacks and fighting fraud.
The time scales vary for each chargeback reason and card scheme. A chargeback may be raised several months after the original transaction. The first chargeback time limit is generally calculated from one of two dates:
The first chargeback time limit begins on the calendar day following these dates, and the issuing bank has typically up to 180 days from this day to raise the chargeback. However, chargebacks and retrieval requests can occur at various time scales depending on the reason for the dispute as well as the financial offers surrounding the transactions.