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Amsterdam, Netherlands — WLPayments, a leading pioneer in payment processing and a trusted global payments orchestration platform, is pleased to announce its successful integration with Paysafe, a renowned global payment solutions leader. This strategic partnership underscores WLPayments’ unwavering commitment to providing exceptional service and streamlined payment solutions.
WLPayments announces partnership with Truevo
WLPayments announces partnership with Truevo
Amsterdam, the Netherlands – 23 March 2023 – WLPayments, a leading payment orchestration gateway solution provider, has partnered with Truevo, a leading payment industry acquirer. This collaboration aims to enhance their payment product range by introducing additional features and advantages for customers throughout Europe.
WLPayments announces partnership with Truevo
WLPayments partners with Checkout.com
Amsterdam, August 2, 2023 – WLPayments, a leading payment orchestration provider, proudly announces its strategic partnership with Checkout.com, a renowned provider of acquiring services in over 150 processing currencies and 25 settlement currencies. This collaboration aims to improve the payment landscape and bring unmatched benefits to a diverse range of clients, including online merchants, Acquirers, PSPs, EMIs, and ISOs.
WLPayments announces partnership with Truevo
WLPayments offers merchants direct connection to Fiserv’s global gateway
Netherlands-based payments orchestration platform WLPayments has partnered with Fiserv to enable merchants to improve operations in existing markets and expand to new markets. Through this partnership, WLPayments enables access to multiple acquiring solutions giving merchants many choices with one integration. Merchants could further optimise their success rate with WLPayments’ transaction routing, retry and cascading features.
3DS management as an integral part of payment orchestration – how to increase acceptance without adding costs
In recent years, there has been a huge increase in the use and advertisement of payment orchestration solutions. In many cases, the term payment orchestration gets blurred and loses its intrinsic value. In essence, an intelligent payment orchestration solution should take care of the whole transaction journey, from the payment initiation and authorisation to its reconciliation process for online merchants.
Constant changes in regulations demand a future-proof payments platform
While working at GlobalCollect, I identified the gaps in the online payments industry, and many were related to these new changes. At WLPayments, we were able to address those gaps during the design phase of our platform architecture. We focused our efforts on building a modular infrastructure, which now allows us to adapt and build effective solutions for the dynamic payments landscape with flexibility and speed.
Learnings for futureproof cooperation between fintech and incumbents
In some sectors, like online payments, fintech has become a force to reckon with, often achieving valuations that traditional financial companies can only dream of. But the big old banks and insurers are still there and, in some cases, even more profitable than before.
WLPayments adds eight new payment partners integrations
WLPayments has announced that they have completed eight additional integrations since the start of 2022, allowing merchants to benefit from its list of integrated partners and have more flexibility in doing payments. The following additions are Google Pay, Netcetera, Paypal, Swish, Token.io, TrueLayer, TreviPay, and Vipps.
WLPayments’ insights: Optimising cross-border payments
WLPayments’ new platform is based on the learnings in developing payment gateway solutions over the past few years. We have been focusing on building technology that is easy to adapt and integrate, especially to accommodate the ongoing trend of open banking and provide more technological convenience to an increasing number of industry players.
WLPayments partners with Netcetera to lower 3DS costs for its customers
Flex 3DS, WLPayments’ proprietary payment authentication solution is implemented at the gateway level, which routes the transactions to an appropriate 3DS provider, such as Netcetera, for 3DS-checks. This solution manages the SCA exemptions such as low-value, low-risk, or recurring transactions into account resulting in a frictionless checkout experience for the customers.
The Paypers launches the Cross-Border Payments and Ecommerce Report 2021–2022
Nowadays, there is a world of opportunity beyond borders, and the cross-border ecommerce market does not show any signs of slowing down. In fact, predictions indicate a CAGR above 20% for the cross-border B2C ecommerce market over 2020–2027 and an earned revenue estimated to reach more than USD 4 trillion by 2027. Also, the global B2B ecommerce market is expected to reach USD 18.57 trillion by 2026 with a CAGR of nearly 19%.
Cross-Border Payments and Ecommerce Report 2021–2022
The Cross-Border Payments and Ecommerce Report 2021–2022 taps into the fast-growing cross-border market, being the ultimate source of information for ecommerce businesses interested in expanding globally.
WLPayments launches Zero Code PaaS platform
Netherlands-based white-label payments platform WLPayments launched its new-built Zero Code Payments as a Service platform. It comes with a containerised architecture, a server agnostic approach, and integration of microservices across the board.
Interview with WLPayments on the company’s new payments platform
Market developments have been the driving force behind the inception of this new platform. We, at WLPayments, believe that if you do not compete with yourself, then somebody else definitely will. Hence, we want to keep innovating and keep delivering the best possible solutions to our clients.
3D Secure – tackling key challenges and anticipating oncoming developments
When 3DS was first introduced, back in 1999, it was not a highly adaptable solution simply because technologies that are commonplace today had not yet been invented. After the mobile revolution, the static password issue was tackled by implementing one-time passwords or OTPs. EMVCo collected all the data on transactions and started reading out the patterns in them – which transaction is fraudulent and which transaction is not, or which transactions are more prone to chargebacks. They devised an upgraded version of 3DS: 3-D Secure 2.0 or 3DS2.
WLPayments is pleased to announce the addition of the new Flex 3DS solution to their payment orchestration platform. This solution is an acquirer-independent flexible 3DS innovation and is especially relevant in the post-PSD2 environment.
How to make the best out of payment orchestration with the right payment partner
Even when working on a modern payment platform, expanding a business globally comes with many challenges. However, on a dated platform, these challenges could mean the end of your expansion. Issues such as high costs, extended timelines for integrations, insufficient insights, and difficulties complying with new rules and regulations may arise, not to mention the need for innovations like pay-by-link, split payments, or one-click payments. Therefore, working with the right PaaS (Platform-as-a-Service) provider that can help with payment orchestration is crucial, especially for large merchants operating in multiple domains and countries.
The reason behind this collaboration is that the Germany-based independent sales organisation, Deutsche Payment, was looking for a payment gateway partner as the company wanted to offer its clients a multi-acquirer setup, routing possibilities, and all other conversion boosting payment features, with effortless integrations. The company required new payment innovations, extensive reporting features, and intuitive interfaces in order to provide its merchants with scalable payments infrastructure.
Social media shopping is a growing international trend with a huge potential for commerce. This has only been exaggerated by the COVID-19 crisis, with one global study reporting an increase in social media engagement of 61% over normal usage rates. Thus, payment service providers (PSPs) and other financial institutions should support their clients with social media payments, as the pandemic shutdown forced the future of social shopping to arrive on a much, much faster timeline.
The payments system is no stranger to regulations, but PSD2 (Payment Services Directive 2) is given additional importance due to its impact and a new generation’s expectations. However, in this new digital era, PSD2 is the key to fighting online fraud while boosting innovation with new payment services.
The major development of PSD2 is the introduction of new security measures like SCA (Strong Customer Authentication). 3DS2 technology is the solution specifically designed to comply with the SCA requirements and overcome the shortcomings of the original 3D Secure protocol, 3DS1. For this reason, it will also bring a wealth of benefits to both merchants and customers.
New Integrations boost Apple Pay options – many payment platforms are also working to integrate mobile payment options, especially as the COVID-19 pandemic drives more commerce online and makes transactions that require physical interaction inadvisable. Global payments platform WLPayments is integrating Apple Pay into its merchants payments offerings, for example, enabling its merchant clients’ customers to make one-click purchases using their smartphones, Apple Watches, iPads or computers.
Purchasing items on social media is a growing international trend with huge potential. During the COVID-19 crisis, 42% of people in an international Global Web Index survey reported spending a greater amount of time on the likes of Facebook and Instagram. And with social distancing continuing for months, that trend is likely to continue.
According to PayPal, around eight million Britons currently buy items through social platforms and less than a quarter of businesses sell through them. It’s an underappreciated way of trading that CMOs at PSPs, along with banks and other financial institutions, should help clients concentrate on much more.
A record 33% of UK purchases took place online in May, according to the Office for National Statistics. Yet with average conversion rates at less than 3%, firms are still missing out on billions of potential income.
The likes of better, persuasive sales copy on websites can help firms profit more from the fast-rising interest in e-commerce in the post COVID-19 world. But CEOs and CMOs at PSPs and banks must ensure that their organisations are supplying clients and their customers with seamless checkout experiences. Payment platforms should be mobile-friendly and instantly offer an alternative payment method when the customer’s first choice did not work out. And of course it should send out second-chance emails if a customer has prematurely abandoned the payment page. Moreover, they should let customers use their native currency, if possible. However, if firms are to really compete, platforms also need to make heavy use of recent innovations.
To buy or not to buy? A payments business dilemma
The ecommerce market is on a powerful growth trajectory – one that has only been boosted by the ongoing COVID-19 pandemic forcing shoppers globally to stay at home. According to eMarketer, global ecommerce sales will hit $5 trillion next year, following a period of annual growth rates of over 20%.
The opportunity for banks and other payment businesses is enormous. Billions of dollars of fees are available for companies that can make international ecommerce as smooth and seamless as possible for their merchants. The trouble is that offering a truly international payments platform is challenging for any organisation, let alone an established bank or payments business with dated technology and a sprawling existing infrastructure and client base to manage.
For the CIOs and CTOs of banks and PSPs, fraud and security are never very far from their minds. Protecting both their own organisations and their merchants from the threat of cybercrime is a truly business-critical challenge – and one in which the stakes are always changing.
The ongoing COVID-19 pandemic has brought the issue even more to the fore. With many bank branches closed, cybercriminals have jumped at the chance to develop tailored scam and spear phishing campaigns, attempting to steal consumers’ login credentials. Others have capitalised on people’s desire for information in these uncertain times, creating phishing emails purporting to offer official updates and advice.
The payments market opportunity Ecommerce is big business. Emarketer has predicted that global ecommerce sales will reach $5 trillion by 2021, following sustained annual growth rates of more than 20%. In turn, this flourishing market generates billions of dollars of fees for the payments companies that enable it.
Little wonder, then, that an array of non-banking financial solutions providers has flooded the marketplace in recent years. Without the constraints of dated technology or a sprawling existing infrastructure to manage, these disruptors have been
Sunil Jhamb, Newgen Payments: When it comes to white-label platforms, being technically relevant and anticipating market trends is of the utmost importance.
In the fintech markets of today, open and modular banking is a continuing trend. At the same time, it is a highly specialized and complicated ecosystem for outsiders to figure out. The growing demand for white-label solutions triggers various companies to offer their solution as a white-label product. The same goes for payment platforms.
According to Link4pay officials, the company chose WLPayments as as their gateway technology provider for card and alternative payment processing because it fulfills Link4Pay’s growth objectives.
Bankingblocks, a European Payment Institution, has chosen WLPayments as its Payments Technology Block – a full, omni-channel payment gateway which can be customised to the needs of any business, small and large. Bankingblocks, which offers modular payment and banking services with integrated licensing, chose WLPayments as their gateway technology block due to the unique nature of their platform, cross-services capabilities and similarities in the companies’ visions about the future of payments.
WLPayments is een spinnoff van Newgen Payments. We spraken met de CEO van WLPayments over de kansen in de markt, ontwikkelingen op het gebied van online betalingen en voordelen die WLPayments biedt aan haar partners.
WLPayments, the trusted white-labelled global payments platform that consolidates multiple features like transaction routing and reconciliation, brings its customers Apple Pay.
Bankingblocks, an Amsterdam-based wholesale banking provider for fin-tech and payment companies, teams up with WLPayments to provide a true omnichannel, universal payment gateway.