Retailers
- faster, cheaper, more secure
transactions for you
payfair , the New Universal Payment scheme, is
benefiting retailers by offering more choice at the
check-out and more transparency in the costs.
Implementing payfair will ensure that transactions
are processed cheaper, faster and more securely.
PayFair benefits for retailers in a nutshell:
Transparent and low transaction costs generate
substantial cost savings.
No investment for acceptance.
Control on payment costs: choice between
guaranteed or non guaranteed payment; choice
between no authorization / authorization by card
issuer or by current account bank.
Productivity gain: by combining loyalty + payment
functions on the same card.
payfair is a "disruptive" innovation: the key role of
retailers is acknowledged for the first time (open
gover nance)
payfair is offering retailers the most competitive
option for card payments at the point of sale and
ensuring that transparent pricing associated with
un-bundled services is now accessible.
Beyond potential drastic reductions in transaction
costs for retailers in certain countries, payfair is
also promoting new payment methods that
leverage retailers' experience.
payfair is already partnering with a number of acquirers
across Europe to ensure you can get access to this unique
leading European solution !
While the primary issuer of cards remains the bank, payfair is
also enabling merchants to issue their own cards if they wish.
payfair introduces the concept of "decoupled" debit further
than any scheme has achieved so far, enabling merchants to
issue cards linked to the existing current account of their
clients, eventually combined with their loyalty program card.
payfair is indeed decoupling the notion of card issuer and
current account issuer. It is therefore permitted under the
payfair scheme to issue a card on a current account
maintained at a third party institution. As a result, merchants
(or banks) issuing cards to their clients will have the choice to
either authorize the card based on the client information they
have within the card management located within payfair
infrastructure or, in order to minimize risks, get an on-line
authorization from the current account institution which the
cardholder has linked to his/her card.
