First client LIVE in Germany; now expanding to other countries
Equens has announced the first go-live of its new white-label PSP proposition for banks, acquirers and payment service providers (PSPs). This new proposition is part of the omnichannel solution Equens has brought onto the market. It creates a one-stop-shop model for banks, acquirers and PSPs both for offline and online retail payments across Europe. The first client Equens is serving with its white-label PSP solution is a European acquirer who has set up an offer for the German market and is now preparing to enter other European markets.
The white-label PSP proposition enables Equens’ clients to offer PSP services to merchants without having to make major investments in technical infrastructure, support, financial and contractual administration, and compliance. This way, Equens allows its clients to solely focus on the interaction with their customers and prospects.
What distinguishes the Equens proposition in the market is that, besides being white-label, it can be offered both in a distributing and collecting model for a large number of payment methods in Europe. In the collecting model, the clients can offer the merchant one contract for multiple payment methods, whereas at the moment the merchant needs to enter into several contractual agreements with multiple parties.
The Equens PSP solution also allows the clients to offer one merchant payout and a reconciled transaction overview for all of their payment methods – either on a daily, weekly or monthly basis. In the current situation, merchants are confronted with an increasing administrative workload, as they receive money flows and financial summaries from different parties at different times, depending on the payment methods they offer via their web shops.
For Equens, the white-label PSP solution is an important building block towards omnichannel, full-service retail payment solutions. “We have fifty years of experience in the European payments market”, says Board member and Chief Market Officer Alessandro Baroni. “When it comes to retail payment solutions, Equens has the know-how, the technical background and the back office to support banks, acquirers and PSPs on every level for both offline and online payment solutions. Our clients will have a one-stop shop to support omnichannel payments.”