payfair Products
Payfair Card Scheme
The Solution
In some markets all national and international transactions
go via the International Card Schemes (ICS) (MasterCard,
Visa). payfair can be the solution for connecting
Acquirers and Issuers in a multi-party national payment
system. As an option payfair can work with a partner to
have a solution for all issuers' national and international
transactions.
What will this solution change on the market,
to whom and why?
There are two situations where this solution is applicable:
New Scheme:
In some markets there is no national scheme and all not
on us transactions go via International Payment Schemes
like MasterCard and Visa.
Existing Schemes:
In some markets the national scheme is old and needs
replacing to make it SEPA compliant or compliant with
new industry standards like EMV and PCI
Advantages for the Issuer
• SEPA compliant Payment Scheme
• EMV only cards which means no magnetic skimming fraud
and reduced number of chargebacks
• Opens up possibility to use payfair cards in other markets
and to implement payfair's innovative payment technologies
• Add innovative payment solutions like POS, ATM and
Internet transactions with Mobile solution
• Possibility of creating card accounts without issuing of
Plastic i.e. Physical Card
• Reduce scheme and connection costs (maintenance and
operations) when choosing to only have one connection for
all National and International transactions.
• Transparent and easy scheme and fee model
• Interchange model is transparent and fees are guaranteed
for both ACQ and ISS, based on local requirements.
• Create additional revenue streams
• Option for co-branding i.e.co-badging
Advantages for the Retailer
• More competition in the Acquiring market (because
payfair will bring additional acquirers into the market)
• Freedom of choice and increased competition
• Higher security standards and levels, reducing fraud costs
• Lower chargeback rate is reducing back-office costs
• Transparent and open fee and charges model
• Fair balance between Merchant and Issuer
• Open Governance and possibility for retailers to
participate in decision process
• Issuing business is open for non-bank Issuers
