The Online Payment Process

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1 Bank of Valletta Insert Title of Presentation The Online Payment Process Ray Bezzina

2 Agenda Is there the need for me to go online? What do I stand to gain if I go online? What do I stand to lose if I do not? Are there any risks? What do I do next? Lorem Ipsum 2

3 European ecommerce at a glance Percentage of individuals who ordered goods or services through the Internet for private use during 2011 EU Average is at 40% 38% of Maltese carried out an online purchase in 2011 Average across the EU is 40% Source: EU Paper: Bringing ecommerce benefits to consumers 2011

4 European ecommerce at a glance Option for a slide content and image Percentage of on-line shoppers who resorted to cross-border retailers 98% of local on-line consumers preferred to order their goods from foreign suppliers Source: EU Paper: Bringing ecommerce benefits to consumers 2011

5 European ecommerce at a glance Current internet sales amount to Eur91 billion within the EU This is equal to 3.5% of the total retail EU sector Digital Agenda for Europe is that by 2015 there will be a total of: 50% of consumers buying on-line and 20% of sales would be made at EU cross-border retailers

6 The Global Picture 3 billion internet users in 2015 Half of online people are younger than billion Facebook users by 2015 Expected volumes by 2014 = US$1.5 trillion! An increase of 20% over 2013

7 The Global Picture Connectivity creates a world of opportunities Billion Devices Connected to the Internet Billion Devices Connected to the Internet EQUAL TO TWICE THE WORLD S POPULATON

8 Payment Methods Credit Cards Other Online Payment Systems Bank/Credit Transfer Cash on Delivery Direct Debit Others Cheque Mobile Payments Credit Cards remain the most popular and preferred payment mechanism

9 Benefits of Accepting Cards Increased sales Enhances your image Improved cash flow Competition Easy to set up

10 Risks When Accepting Cards Chargeback = Is the return of funds back to the Cardholder by debiting the Merchant! Reasons for a Chargeback: Fraudulent Cards Unauthorised Usage of Cards Not as Described Goods/Service Not Delivered

11 How To Mitigate Risks Make sure that the name that appears on the website will be the same that appears on the cardholders statement. Make sure that the Terms and Conditions are clearly visible and accessible. Cancellation, Refund and Return Policies are also a must. Contact details, including the hours during which clients can contact your Customer Support Centre, are to be made available on site. Carry out IP checking. Whenever possible, verify client registration. Records of transactions must be retained for at least 2 years.

12 3D Secure Can Protect You Against Fraud Option 1 = 3D Secure Protects Cardholders and Merchants against Fraudulent Transactions Option 2 = Card Verification Value Real time verification of CVV2 Does NOT protect against fraud!.

13 Selecting an Acquirer When selecting an Acquirer, make sure they: Can accept at minimum VISA and MasterCard Have available 3D Secure Are credit-worthy Can offer 24x7 Support Services You also need to consider related costs

14 Supporting documents that are normally required Standard documentation that Merchants are normally required to submit with their application: Certificate of Incorporation Memorandum and Articles of Association Copy of official photo identity of Directors and Shareholders Business Plan Business Model Description of goods and services Financial Projections Marketing Plan Delivery Method

15 How do Acquirers Mitigate Risks? Monthly CAP A monthly limit that a merchant can process through card business in any month. When the CAP is exceeded, transactions will continue to be processed but by default will remain blocked on merchants account normally for 120 days. Rolling Retention A percentage of the daily turnover that the acquirer blocks as collateral for chargebacks. This is normally released after 120 days. Delayed Settlement Funds are credited to merchant after an agreed period of time usually 1 to 2 weeks.

16 Payment Gateways Customers A Payment Gateway acts as an interface between the Merchant and an Acquirer. Authorisation Request Online Store Payment Gateway Authorisation Response Acquiring Bank Settlement

17 Summary Online consumers are increasing Electronic Payments are cost efficient Business benefits from greater exposure Lower Cost of Sales Credit Cards are the most popular means for online payments Select a suitable Acquirer Integrate with a Payment Gateway

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