Global Selling 2017-01-25T11:17:55+00:00

International Payments Processing

Are you expanding your online business to other countries – or already selling internationally in local currencies? Do you want a global selling account that will process and authorise those currencies and summarise it all in one simple breakdown, where you only have one interface for all currencies?  Of course you do – but very few processors can actually do that. We do – and we make international processing easy, so you can focus on building sales (and saving on transaction fees).

We make it easy to sell in local currencies.

Through our partnerships with banks around the world, our UK office can help you in setting up international merchant agreements and domiciles worldwide and advise you on the risks involved.  We can take transactions in, and authorise, around 160 local currencies, from Won, RMB and ZAR to the usual $USD/$AUD/$CAD/£GBP and €Euro. The range of currencies for settlement is limited to the fifteen or so dictated by MasterCard and Visa, but we settle in all the ones they authorise.  The interface is seamless and you won’t be paying for extra coding as it’s exactly the same for $US as it is for other currencies.

We make it easy to manage.

Our real-time reporting system shows all your sales in all your currencies in a single interface so you can see sales across regions at a glance.

JetPay Product Focus

Automatically settles transactions at the optimum time and rate. If it spots a compliance problem (eg wrong date or amount) it voids that transaction and authorises a new one that is correct. So you get the best interchange rate without doing a thing. Interchange rates are not constant. As the risk of your transaction goes up, so do the rates you pay. You need a processor that can automatically settle your transactions at the optimum time and interchange rate.

Online and in-store, Dynamic Currency Converter gives your international customers the choice of converting the bill to their native currency, at the point of sale, or paying in the local currency.

It’s transparent (we offer the current market rate on the day and tell customers what that rate is) and it saves them the cross-border conversion and international fees their Issuer will charge if they pay in the local currency. All of which is good for you as it cuts excuses not to buy.

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Why say goodbye to profits for a simple lack of trying? Recurring payments, like subscriptions or monthly instalments, are very profitable. They increase spend, improve loyalty, cut costs and generate revenue – until they are declined. Around 9% of recurring payments fail on their first attempt.

We can avoid that. Our Transaction Recycling software automatically resubmits payments for authorisation for up to 12 days – with an average 30% success rate.
When you have to contact customers it’s embarrassing for them and often results in them cancelling. Transaction recycling eliminates that by turning a decline into an approval.  Imagine adding 30% revenue to your bottom line.

It’s a targeted service. If a payment gets a ‘hard decline’, it usually means the card is stolen or the account closed, so we ignore those. Transaction Recycling is for ‘soft declines’, usually due to ‘insufficient funds’ or late payment, where there is a good chance you’ll get your money.

You don’t need to do a thing. Nor do your customers. We can resubmit payments automatically to rules (eg how often we try or which days or dates) that we tailor to your needs.

The result? No drop in your revenue stream, fewer cancelled service requests and lower customer service costs. In other words, higher profits.

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Transaction Clean-Up automatically settles transactions at the optimum time and rate. If it spots a compliance problem (eg wrong date or amount) it voids that transaction and authorises a new one that is correct. So you get the best interchange rate without doing a thing.

Interchange rates are not constant. As the risk of your transaction goes up, so do the rates you pay. You need a processor that can automatically settle your transactions at the optimum time and interchange rate.
So are you at risk? Card-not- present businesses are, definitely. Merchants in certain Category Codes (MCCs) are too.

But in fact any business that ships to customers is vulnerable to higher rates, if there is a chance that the amount you first authorise doesn’t match the actual transaction value.  So how can JetPay help?

Our unique Transaction Clean-Up service does exactly what it says. If it spots a compliance problem at settlement, it automatically voids the incorrect transaction and authorises a new one showing the correct amount or date, so that it qualifies for the best interchange rate. All behind the scenes. You do nothing.

Fulfilment centres that take over two days to ship find this invaluable because of the timeliness rule, which only allows merchants 48-hours to settle a transaction. But, even if you ship overnight, you could still get stung if you find a part is missing and it takes 3 days to replace. We’re very proud to say that Transaction Clean-Up is saving one of our computer hardware client s $12k a month on Interchange – and two employees’ time.

If you charge for shipping by weight you’ll pay higher Interchange every time the actual shipping weight is different from the weight you quoted for. And if you sell in Europe, where sales tax varies, you’re also at risk because of the chance that delivery address is in a different sales tax region to the one they ordered from.

But with Transaction Clean-Up, problem solved.

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JetPay’s Recurring Payments service puts regular payments, like membership fees, on a card. It’s good for your customers (easy to use and easy to budget). And for you too (cutting your costs, retaining customers and increasing spending).

What if you could have a simple and reliable tool that improved customer loyalty, extended their buying power and increased your profits? Try our Recurring Payments service.  We process hundreds of thousands of recurring transactions every day – and that’s rising. People like monthly payments or regular subscription or membership fees: they make life simpler and easier to budget for. And that is good for business.

With recurring payments (or Continuous Payment Authorities), your customers give you a debit or credit card number and permission to take regular payments. You get the money; they don’t get stung with checks or late payment fees. If they decide to cancel, they tell you and their bank or credit card issuer, and it’s done.

Cancellation is in fact less likely with Recurring Payments. We make them so easy, secure and reliable, especially on update, that businesses find they boost customer loyalty, with up to 24% boost in sales / reduction in attrition rates.

Customers whose bills are paid automatically by card make fewer calls to Customer Services. Chargebacks and exception-processing expenses are reduced.

By allowing people to spread the cost over the year or pay by instalment, Recurring Payments make it easier for people to buy what they need or want.

By reducing the number of checks, late payments and accounts in collections, Recurring Payments will help you to operate more efficiently, saving time and money.

As long as you can send us the data over a secure FTP, we can build a flexible programme around your needs, with products that not only manage Recurring Payments, but measurably improve your cashflow. Here’s how:

Transaction recycling minimises the risk of failure of recurring payments that are ‘soft declined’ on their usual date because of declines that may be a temporary situation like insufficient funds or late payment. Most providers return the decline to you and that’s it. At JetPay we work the declined transaction for up to 12 days, to turn it from a decline to an approval.

Account Updater will slash losses from declined recurring payments as well as reduce your membership cancellation. Account Updater gets new expiry dates and new replacement card numbers directly from the card issuer without you having to contact customers. Most companies have a 24% cancellation rate when calling the client and requesting a new form of payment. If you don’t contact them they won’t cancel.

Card identification minimises losses from cards that are likely to default or cause you higher Interchange fees. When our systems spot pre-paid payment cards, corporate cards or cards registered in high-risk areas, they block them.

Secure tokenisation, where card data is held on our secured systems not yours, not only encourages customers to feel comfortable giving you their card details, but saves on compliance fees.

International processing could dramatically boost sales by allowing you to offer recurring payments in multiple currencies. So, if you trade in other countries, you can offer them monthly payments or annual subscriptions too.

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