Below are more details of the available eVouchers solution, reference EVJM.  If you'd like to know more, Email Us.

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1.  Product Overview and Pricing

The product allows your customer/trader/player to choose from a portfolio of credit cards and APMs, to purchase eVouchers, that are then immediately redeemed (spent) enabling the seamless crediting of the customer/trader/player’s account. There are 2 levels of product packaging:

1. Core Package – Visa, MasterCard, Maestro, iDeal, Sofort, Poli, Giropay, Przelewy24, ePay.bg, Nordea, Rapid Transfer, Neteller, Skrill

2. Extended Package –  The above Core Package + American Express, UnionPay and EPS

 

There’s one price for redeeming vouchers via the Core Package, and a slightly higher price via the Extended Package. There’s also the usual gateway, chargeback, refund fees, etc.

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2.  Target Industries

Target industries include Forex/CFDs, Crypto, gaming, and more.

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3.  Currencies and Settlements

The merchant can price deposits in €, £ and/or $; the 3 currencies eVouchers can be purchased in. If a credit card is issued in the same currency as the voucher transaction, say a € credit card is used to purchase a € voucher, there are no FX charges. However, credit cards are issued in nearly 200 currencies, so when the credit card currency differs from the product/deposit currency), for example, an Australian (AUD) issued credit card used to purchase the € voucher, the card schemes (and not the voucher provider) will be responsible for the AUD/€ FX.

 

For settlement purposes, the merchant selects one settlement currency; either €, £ or $, and all the voucher purchases are converted to the selected settlement currency, for settlement purposes. So, if the merchant offers the sale of vouchers in the 3 core currencies, the merchant will hold balances in each currency. Those balances will be converted to the settlement currency, by the voucher provider, for weekly settlements. Settlements for the Core Package are on a T+10 basis, and for the Extended Package on a T+15 basis; the latter being longer as it takes more time for the provider to receive settled funds from APM providers. There is no wire cost for settlements for balances above €/£/$ 4,000.

                                                   

4.  3D Secure

All credit and debit card transactions that are used to purchase seamless vouchers, are usually 3D Secure, which in turn will protect all involved by significantly reducing chargebacks. However, if the credit card is not enrolled in 3DS, or the issuing bank of the credit card does not support 3DS, the transaction will still be processed.

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5.  Chargebacks

A customer chargeback is simply a chargeback of the eVoucher transaction on the customer’s credit card. The provider has excellent quality documentation discussing chargeback considerations, including RRQs, 1st Chargeback, 2nd Chargeback and arbitration.

 

6.  Refunds

Refunds, effectively a refund of a voucher, can be initiated via a merchant’s account with the provider, who will then identify the original type of payment method used, and refund accordingly. Alternatively, refund requests can be emailed to the provider to a dedicated “refund” email address. Both full and partial refunds are available. Refunds are assessed and managed by the provider, and are not API driven by the merchant, as it’s the provider who has to both refund the voucher, and then refund the Cardholder or sometimes, the APM account holder.

 

Because this is a voucher solution, in order to be compliant with the card schemes, the primary purpose of refunds is to refund customers who are not satisfied with your product or service.  They are not the channel for making large amounts of withdrawals to customers/players/traders.

 

7.  Rolling Reserve

All merchants start on a 10%, 180 day rolling reserve. It can potentially reduce over time based on a number of considerations including industry, payment processing history with this provider, any regulation (if relevant), jurisdiction of merchant, etc.

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8. Merchant Support and SLAs

1. Support (transactions and general) is available via email, live chat or telephone, directly from the voucher provider, and is available Monday to Friday, 08:00 to 20:00, CET, and Saturday 09:00 to 12:00 CET. Email is the preferred method of contact. Outside of the published hours, the provider makes best efforts to reply to enquiries.  

2. Support (technical, eg integration) is generally available via email and scheduled Skype calls.

3. The provider targets a 99.95% availability/uptime of their online voucher services.

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9.  Transaction Limits and KYC requirements

Initially, the maximum voucher transaction size is set to €/£/$ 5,000. It can be increased up to €/£/$ 15,000, based on a merchant’s need, processing history and risk rating.

 

Maximum limits can be set per customer/trader/player. The default is a maximum of 2 approved transactions per day per customer/trader/player are allowed. This can be increased based on merchant payment history, and the provider has merchants where this limit has been increased to 5 or 10 per day.

 

Initially, the maximum monthly deposits for a new merchant is set to €500,000 per month. This can be substantially increased based on need, industry, and payment processing history.

 

Because the cardholder is purchasing a voucher from the provider, and the provider is regulated, certain KYC requirements of the provider must be met. For cardholders with deposits above 1,000, the provider must hold basic KYC documents. These can either be provided by the merchant, or the provider has a sophisticated system to not only request them, but to also verify them, and can subsequently provide them, together with their check results (highlight risky cardholders) to the merchant. Realistically, most merchants have their own department for collecting and checking the KYC documents of their traders/customers/players.  As a result, merchants are by default setup such that when a trader/customer exceeds the 1,000 KYC limit, an email is automatically sent to the merchant requesting the documents to be emailed to the provider, but the trader/player is not blocked. The merchant must send the requested KYC documents in reasonable time.

 

The provider can also optionally offer an AML service (fee per cardholder, for example, for customers with deposits below 1,000, including name, address verification, confirmation not a PEP, etc, and issue certificates to the merchant to reflect the conclusions. For customers with deposits above 1,000, the provider would not charge for this service as it has a responsibility to check some information.

 

10.  Merchant jurisdictions

If a "European" company is stated on the merchant's website, (whatever it's function), the following summarises the acceptable countries, depending on relevant regulation and/or industry:

• Unregulated Forex, Crypto or regulated gaming - All EU countries, except Bulgaria. 

• Regulated Forex and other industries - All EEA countries​

 

EU/EEA definitions

• EU countries: Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK

• EEA countries: All EU countries, plus Iceland, Liechtenstein and Norway.

• Switzerland: Neither an EU nor EEA member

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11.  The customer experience & one-off registration

Customer Experience

The merchant decides if he wants to offer the Core Package or the Extended Package, and then, if he wants to offer the customer some or all of the payment methods available in the selected package. These payment methods will then be configured on the merchant’s Payment Wall, (one per merchant), for the customer to select from, in order to purchase the eVoucher. Once the payment transaction is complete and approved, the voucher is seamlessly redeemed, the merchant receives an approval via the API, and the customer a confirmation by email or text.

 

Registration

The first time a customer (cardholder) uses the voucher provider’s service, he/she will need to quickly register, by completing a typical online registration form, as the voucher provider has a responsibility to know its customers. Because the customer arrives at the voucher provider’s registration page from the merchant’s website, the merchant can pass most of the registration information to the voucher registration page, minimizing the amount of information the customer needs to enter. The customer’s second and future experiences will be much simpler; effectively re-logging into the provider’s account as part of the process.

 

12.  Descriptors on customer’s credit card statement

The descriptor shown on the credit card statement of the customer will be that of the voucher provider, as the cardholder purchased the voucher directly from the voucher provider.

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13.  What the Provider does not offer

The voucher business is based on processing online transactions. Virtual terminals are not available, as they are inconsistent with 3D Secure payment solutions.

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14.  Integration

Integration documentation is available on request. You only need a single integration in order to access/use all of the available products; even if you start with just some, and decide to add more over time. If you’re a white label of a B2B platform already integrated with the provider, or use a cashier already integrated with the provider, there should be no integration requirements. 

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15.  Contract

The contract will be directly between the merchant (you) and the voucher provider. A signed contract will need to be in place before you can start processing live transactions.

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16.  Back Office Panel

Once on-boarded as a new merchant, you’ll receive credentials for 24/7 online access to your back office account, where you’ll be able to look at transactions, at chargebacks, initiate refunds, generate and output reports, and more.

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17.  Who’s ultimately providing the payment products?

The provider has been operating (B2C) in the eVoucher industry for 7 years, bringing a wealth of knowledge and experience to the industry. They are registered with the relevant European Financial Services Authority.

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18. More information for merchants live, or about to go live

Click here (password required) for more detailed information about the onboarding process, more details of support, and far more

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19.  Next Steps

If you have any questions, or would like to discuss in more details, including pricing, etc, please Email Us.