MasterCard and OTP Bank Hungary announced OTPay, the first digital wallet in Europe to leverage the MasterPass API. It provides cardholders the opportunity to shop and pay at 30,000 MasterPass accepting merchants worldwide. And with the associated app, customers can pay bills online, top up their prepaid or make person to person transactions.
As an online retailer you love to make money, right? Of course, that’s what this business is all about! But what are the payment options you can choose from when you want to sell in, let’s say, Spain? Or when you have Dutch customers? Here in this category you’ll find all the articles we’ve ever written about online payments. So scroll as much as you’d like and maybe you will find some interesting payment news!
It seems the bitcoin is here to stay. More people are getting familiar with the virtual currency and an increasing number of online stores now accept bitcoin as a valid payment method. Here in Europe we’ve noticed this as well, as we’ve seen several online retailers change their websites and online payment options.
PKO Banks Polsi and EVO Payments International are forming a long-term strategic alliance. Payment service provider EVO Payments will acquire a 66 percent interest in PKO’s merchant acquiring business eService. The two companies will also establish a 20 year alliance under which both parties will continue to work together to grow further eService’s business within Europe.
IcePay has completed a €2,6 million round of funding. With this money the payment service provider wants to expand internationally, with a focus on expanding within Europe. IcePay has a so called PSD license, which gives the Dutch company the right to act as a payment service provider throughout the European Union and European Economic Area.
Paymill launched its new product Paymill Unite today. It’s an all-in-one solution for everyone with an online marketplace. Paymill Unite enables merchants to offer credit card or debit payments to their buyers in an easy way. With the new product marketplace owners are also able to connect to other Paymill merchants, create transactions on behalf of the connected merchants and take commissions.
Here in Europe it´s not all about credit cards. There are actually many, many different online payment methods. Let´s have a look at what customers in certain European regions and countries tend to use if they order goods online. You´ll notice common names like Paypal, but also some very local ones, like Dankort.
Visa has agreed to reduce some credit card fees. This move comes almost a year after the European Commission told Visa its inter-bank fees might violate EU antitrust rules. So now the fees that banks charge each other to process credit card transactions across the internal borders of the European Union are lowered.
Online payment system PayPal announced last week that it will be rolling out PayPal Here in Europe, starting in the United Kingdom. For the European market, the solution comes with a different piece of hardware. Instead of swiping, customers can now insert their chip-based card and enter a PIN number to verify their identity.
The French payment solution company Ingenico is buying online payment service provider Ogone for €360 million ($488.56 million). Ingenico called the acquisition “a key milestone” in its strategy to become a one-stop-shop provider of multi-channel payment solutions, whether it’s at the POS, online or through mobile devices.
When you compare it with e.g. the United States, taking payments online is different in Europe. There are other rules, there are other consumer whishes and habits and there are other companies. So, for a company that wants to sell in an European country there a few things you should know. Luckily, a pal named James Maskell wrote an enlightening blog post about taking payments online (in Europe) in 2013.