Payment acceptance helps your organisation securely receive payments via cards, digital wallets or online platforms. A regulated merchant acquirer processes transactions through networks like Visa or Mastercard, checks fund availability, transfers payments to you, and ensures compliance with security standards.
This framework gives you access to a range of payment acceptance services including:
- merchant acquiring: a regulated entity that processes payments by connecting your organisation to payment networks (such as Visa and Mastercard), so that you can accept payments by debit or credit card as well as alternative payment methods
- payment gateway services: enables you to accept payments, typically via a website, from debit or credit cards and alternative payment methods such as digital wallets
- payment equipment: includes the provision of point of sale (POS) terminals for face-to-face and unattended payment transactions
- alternative payment methods (APMs): enable your organisation to receive payments via digital wallets such as Google Pay or Apple Pay
- payment initiation service provider (PISP) services: an optional service enabling account-to-account transactions (typically referred to as Open Banking)
Specialist payment consultancy services are also included to help customers assess their end-to-end payment landscape and define strategic requirements for payment acceptance and issuance.
The Agreement has a 4 year contract period.