MultiSafepay has achieved full acquirer and processor status with Visa and Mastercard, now controlling the entire credit card payment flow between the consumer and the merchant.
MultiSafepay, a player in the European digital payment sector, is a fintech company specialised in providing innovative solutions and technologies to small, medium, and large online retailers. According to representatives from the company, MultiSafepay expands the span of control of its business as it now directly connects to the Visa and Mastercard systems to handle credit card payments.
Credit card payments make up for a large portion of the online payments in the ecommerce industry and the standard payment flow requires several different third parties to process a single transaction. MultiSafepay is now acquirer and processor for Visa and Mastercard and so controls the entire payment flow from the checkout of the online store to the credit card schemes.
The new strategic role reduces the dependency on third parties and increases the payment processing velocity. Furthermore, it allows for aggregation of data that will help merchants and MultiSafepay to deliver new services and provide an overall streamlined service.