WAY4 News

 

OpenWay Launches Multi-Currency Pricing Solution for Global Acquirers

OpenWay, a recognised leader in software for bankcard acquiring and issuing, digital banking, omni-channel payments and e-commerce gateways, has launched a multi-currency pricing software solution to help acquirers attract and service international e-commerce merchants.

May 18, 2017

Globalisation dictates its own pricing rules for businesses. Customers want to purchase globally, and merchants are eager to price locally while avoiding multi-currency reconciliation and multiple overseas acquiring relationships. For an e-commerce gateway provider (acquirer or PSP), offering merchants services that include currency conversion could lead to significant additional revenues. Merchants and PSPs could also benefit through profit-sharing agreements with their acquirers on FX conversion rates etc.
WAY4 Multi-Currency Pricing is an integrated software solution for acquirers which enables their merchants to price goods and services in a variety of foreign currencies while continuing to receive payments in their home currency. It helps to increase merchant sales, reduce cart abandonment and avoid back-office payment administration headaches.
The WAY4 solution allows acquirers to set up unlimited pricing and settlement currency pairings, manage mark-ups for different FX rates, settle with merchants and PSPs in their chosen currencies, and generate detailed merchant reports.
Merchants with high international sales, such as airlines, global e-commerce retailers, marketplaces and those in the hospitality, gambling and online gaming sectors, are attractive prospects for acquirers. However to service these merchants, acquirers need to be able to offer multi-currency capabilities as well as 24/7 availability, card-based and alternative payment methods, and advanced tools for online fraud prevention.
WAY4 Multi-Currency Pricing is already deployed by two leading European acquirers. Together with WAY4 DCC this solution enables an acquirer to gain incremental revenue from merchant transactions while providing a user-friendly service to cardholders worldwide. These solutions are part of the WAY4 Acquiring platform developed by OpenWay. With WAY4, acquires can create comprehensive merchant hierarchies, flexible rules for authorisation and settlement in the preferred currencies, real-time risk monitoring, loyalty, dispute management, and high availability. WAY4 is built to meet the requirements of international businesses, including support of multiple currencies, time zones and languages.
OpenWay Group

OpenWay Group was founded over 15 years ago. We develop WAY4, an innovative e-payment processing framework for banks, payment processors, telcos and petrol companies.

OpenWay was initially headquartered in Brussels, Belgium with one R&D team there and another in St. Petersburg, Russia. Today we are a global company with 10 offices and 130 customers around the world.

Our portfolio consists of WAY4 Card and Merchant Management, Financial Switching, Personalised Channel Banking, Prepaid Cards, E-Commerce, Mobile Payments, Digital Wallet, DCC, Fuel Cards, and other solutions.

Our customers include tier-1 giants, mid-size companies, and ambitious start-ups:

WAY4 live installations consistently demonstrate high performance; for example, 90 million cards issued and authorized on a single platform and 12 million POS/ATM clearing transactions processed daily by a single acquirer.

OpenWay, known for its commitment to long-term relationships, both serves customers locally and provides global support. Today our team unites approximately 500 payment business, digital technology, and security professionals.


to top
 

Related links

WAY4 News

See All



Home | Solutions | Modules | Case Studies | News | Company | Support | Contact Us | © OpenWay Group, all rights reserved
Click for Close
Click for Close