Beekash Payment Systems

The UK e-commerce market is Europe’s largest and is set to reach £90 bn before 2020 (up from £60 bn in 2015). But while e-commerce grows, the preferred consumer payment mechanisms are changing. The Payment Services Directive 2 ( PSD2 ) will come into force in the UK (and the wider EU) within two years and will have a profound effect on retail and commercial banking . While new payment categories like PISP ( Payment Initiation Service Provider ) and AISP (Account Information Service Provider) will transform how consumers interact with their banks and third parties, they also hold the potential to transform e-commerce. A catalyst for alternative payment methods Today, credit and debit cards in particular are the preferred consumer payment method in the UK, with card spending comprising 63% of all e-commerce payments. However, according to WorldPay, alternative payment methods will see their overall share of transactions grow from 37% to 50% by 2019. The implementation of

Mobile point-of-sale is transforming the retail industry in a way few technologies have done before. For small merchants , the benefits of installing mPOS technology include not just low-cost card acceptance on smartphones and tablets but also access to the value-added retail management software offered by traditional POS systems , but at a lower price. For large retailers, mPOS provides a way to improve customer service and to respond to showrooming. This guide covers the basics, including: Security PCI Cloud-based systems Ancillary services Bulky cash registers are a thing of the past for small and medium-sizes businesses ( SMB s), as smartphone- and tablet-based systems with attached card readers become more prevalent. Another benefit of these mPOS devices is that they can be used for line busting during peak store hours. While micro-merchants may find it sufficient to attach an mPOS card reader or dongle to a smartpho

The current outlook for adoption of mobile wallets solutions may be a muted one, but there is hope on the horizon – if hardware manufacturers provide truly open and robust access to storing credentials and to interacting with the physical point of sale. One spur to more widespread adoption comes with the continued growth of the cloud as it enables access to all types of transactions across all devices across all venues. The mobile wallet is “more than just a payment method,” according to the white paper, which means that the stakes are high for both financial institutions and retailers, as they need to include mobile shopping in their basket of shopping and banking technology and payment options. The choice is a simple one: to innovate or be disintermediated. The quickest path is to link up in interoperable partnerships that will in turn lead to success at the point of sale. The in-store experience can be enhanced whether mobile wallets are used as part of a standalone pay

Use a payment method with buyer protection Although debit cards ensure you are using your own cash to make a purchase, many do not offer the same robust buyer protection as other options if something does go wrong. A credit card or a virtual wallet option give you more flexibility when it comes to requesting a chargeback. A chargeback is when a transaction is reversed and a refund is given to you as the buyer. It can either be initiated by your bank on detection of fraudulent activity, or you can initiate a chargeback depending on the situation. Check with your bank for details. Another option that you might consider using to add another layer of protection is a single-use credit card number. These are tied to your regular credit card but provide a unique number to be used for one transaction so your actual credit card number is not compromised. This is particularly useful if there is a breach somewhere along the chain that might reveal your credit card details. Aga

Collecting payments through cards has grown as one of the essential part of the business. As today people prefer to pay through their cards that are, purchasing product or services through their account directly. For this the businesses who are practicing the traditional way of business are rapidly changing their working or the start-up businesses who want to have a credit card payment accepting merchant account, needs to deal with a lot of paper work for the approval of a merchant account that is specially dedicated to collect payments through cards. Here we are going to discuss about the merchant account requirements in UK, Ireland and other 26 European countries. For a merchant account to be initiated for collecting card payments the businesses needs to have the following documents to file applications: Proof of Citizen Ship: A copy of passport or EU card, as the proof that the applicant is a resident of European country. Physical presence of business: Proof that the

Merchants often get stuck in the lengthy requirement and process of merchant account application submission and approval. Merchant account is a service that enables any private entity, corporate business or non-profit organization to receive payments through credit cards or any other electronic payment mode . What makes this process of establishing a merchant account a bit lengthy for the first time applicants that are owner of the existing business is the lack of knowledge about the exact requirement of documentations while submitting the application to get approval. Before specifying the requirements of a merchant account, let’s have look at how merchant account get the funding from the proof of transaction: The merchant’s bank , where the merchant have the account for acceptance of the electronic transactions, gives merchant an extended line that is virtual terminal/authorize gateway to accept card or wire transactions. Now, whenever the merchant accepts an electronic tran

Principal members of card brands are the banks or financial institution that are authorized to acts as “ issuing bank ” that is they can provide credit cards and can act as “acquirers”, means the financial institution that provide transaction processing services. The principal members are responsible to contact directly to the card brands that is VISA, MasterCard or others and settle the funds of those transactions. Banks might ignore to work directly with them or ask for guarantee from any third party, if any high-risk businesses, like gaming, e-Cigarette, pharmacy, firearms, adult products, media productions, start-up and more. That’s where, these principal member “ financial institutions ” play a pivotal role by just cross checking the business documents and existence. If they find the business eligible for association, these institutions just ask for fulfillment of the minimum legal requirement that is generally required for establishment of merchant accounts . These princ

AMEX & Curve Curve has been forced to drop Amex from its list of supported payment cards that can integrate into its own prepaid card and connected mobile app. Curve told the publication that it has offered a full refund to all of its customers because of the sudden change. Reports said one of Curve’s biggest selling points for its small business and entrepreneur users was that its clients could make purchases on the MasterCard -branded tool using their American Express cards loaded on the solution. That meant merchants that weren’t accepting American Express cards at their POS could accept the MasterCard Curve card, while payers could rack up rewards like air miles via their American Express card programs. Curve also reportedly allowed users to gain rewards points when they withdrew money from an ATM via their American Express card using the Curve card. According to the company, it lost money when purchases were made using an American Express card because it would be

BeeOOP ™ Closed Loop System Global Payment Processing Company   The e-money sector is growing exponentially day by day, and every business is trying to retain customers, through advance contracts, memberships and wallet systems. We at Beekash have much experience in implementing highly profitable financial network systems for our enterprise client, be it global payment processing, cross border transactions, e-money and wallet systems, while maintaining the highest standards of financial network security, adhering to various security standards set by PCI & ISO .     Our understanding of customized solutions, and our capability to deliver end to end turnkey solutions enables us to deliver, more robust, reliable and cost effective solutions. our in-house, solution architects, hardware integration designers, software development teams, security auditors and 24x7x365 monitoring and support workforce enables us to deliver with confidence. after studying the exis