BlueSnap unveiled SEPA (Single Euro Payments Area) Direct Debit enabling customers to make cashless payments in euros across country borders for online checkout, invoice payments and marketplaces. Meanwhile, iSignthis inked a direct License Agreement to process JCB transactions in the SEPA.
BlueSnap’s platform is designed for frictionless payment experiences and merchants that implement SEPA Direct Debit can expect to see higher conversions. Using the platform, BlueSnap merchants will be able to offer shoppers in 21 countries the option of paying with SEPA Direct Debit.
SEPA is preferred by 45% of shoppers in Europe and is most heavily used by shoppers in Germany, France, Spain, the Netherlands, and Italy. With 500 million potential users (2x the number of European credit cards currently in use), the addition of SEPA Direct Debit payments to payment options will increase sales and boost conversion rates.
SEPA is one of many European payment methods supported by BlueSnap—their offerings include iDeal, Sofort, and GiroPay, as well as WebMoney, bank transfers, and digital wallets like Apple Pay, Visa Checkout and Masterpass.
The JCB and iSignthis SEPA deal couples JCB card services with iSignthis RegTech services to offer card acquiring, settlement and processing services to EU/EEA merchants, creating new opportunities to generate sales with JCB’s 106 million cardmembers worldwide. With this agreement in place, iSignthis services will be on-boarded to JCB during the third quarter with JCB acceptance going live before the end of 2017.
JCB is rapidly increasing its acceptance footprint across EMEA by expanding its merchant acceptance network, particularly with e-commerce retailers, to support Japan as the 4th largest B2C global market for e-commerce by engaging directly with fintech payment processors. Currently JCB cards are accepted at merchants worldwide.
iSignthis provides an end-to-end customer due diligence and on-boarding service for merchants, with a unified payment and identity service via its Paydentity(TM) and ISXPay(R) solutions, offering global reach to any of the world’s 3.5Bn ‘bank verified’ card or account holders.
iSignthis will offer the new service to EU/EEA based merchants, incorporating JCB card acquiring into Paydentity(TM), further extending both iSignthis’ merchant reach to Asian customers, and JCB acceptance with EEA merchants. iSignthis’ merchants include some of the world’s largest regulated fintech companies, in addition to technology and online ecommerce merchants.
Signthis provides an end-to-end on-boarding service for merchants, with a unified payment and identity service via its Paydentity and ISXPay solutions. By converging payments and identity, iSignthis delivers regulatory compliance to an enhanced customer due diligence standard, offering global reach to any of the world’s 3.5Bn ‘bank verified’ card or account holders, that can be remotely on-boarded to regulated merchants in as little as 3 to 5 minutes.
