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E-commerce payments

E-commerce payments

  • Card acceptance – Visa and Mastercard
  • Payment initiation service (PIS) from major Baltic banks
  • PayPal technical integration

With an e-commerce payments agreement, you can accept payments in ways that are the most convenient for buyers: by card, by wire transfer via the Internet Bank or using electronic payment system PayPal.

We plan to offer merchant payment service in the March of 2020.

Having concluded an agreement with SEB Bank and having installed the e-commerce payments, you can accept payments by cards – VISA and Mastercard, also, to initiate payments from accounts with major Baltic banks: SEB, Swedbank, Luminor (coming soon) as well as with Šiaulių bankas in Lithuania, Citadele bank in Latvia and LHV bank in Estonia. Also, a technical integration will be available for payments using PayPal – a worldwide popular payment system. In order to have it you also have to conclude agreement with PayPal on acceptance of payments.

You will get access to the eMerchant portal, where you will be able to see the status of payments, make refunds to your customers for payments by card and export the payments list.

Payments by card may be adjusted according to your business needs.

  1. Guest check-out – one-off payments for goods and services for your customers who have not filled out the registration form. A simple and safe way of payment.
  2. Payments with tokens – a simpler way for a second and further payments for the goods and services provided to your regular customers. No need for you to keep safe your card data, only the card token, and no need for your customer to every time enter the card data.
  3. Recurring payments – if you provide periodic services, you have to conclude an agreement with your customer on automatic account debiting, indicating periodicity and amounts of payment.
  4. Other types of transactions and payments are possible, depending on your business or your customer needs (sending LinkPay payment order by email, account verification, etc.).

Payment by card is secure, as a cardholder is authenticated using Mastercard Identity Check or Visa Secure (3-D Secure) technologies.

From now on, having concluded an e-payments agreement, you can accept payment orders for the goods and services from buyers that have accounts with major Baltic banks: SEB, Swedbank, Luminor as well as with Šiaulių bankas in Lithuania, Citadele bank in Latvia and LHV bank in Estonia.

The buyer will choose the bank from which he or she will make payments. You will no longer need to conclude separate agreements with other banks.

SEB e-commerce payments offers a possibility to accept payments using PayPal – a worldwide popular payment system. You have to conclude SEB e-commerce payments agreement and an agreement with PayPal on acceptance of payments.

There are several ways for the integration of e-commerce payments with the online payments system:

  • API (Application Programming Interface)
  • Plug-in for the following platforms: WooCommerce, OpenCart, Magento, Presta Shop
  • Programming tool SDK for mobile applications
  • Payments from merchant portal LinkPay

When will the new e-commerce payment solution be available to merchants?

The new e-commerce payments are expected to be available to companies from March 2020.

What’s included in the e-commerce payment offer?

  • Initiation of payments from major Baltic banks
  • Visa and Mastercard payments
  • PayPal payments

The e-commerce payment service will allow online merchants to try out new and innovative forms of payment based on the principles of Open Banking. This means that, with the same contract, online merchants will be able to initiate payments from customer accounts not only in SEB, but also in other major Baltic banks that technically provide access to account information on third-party websites, i.e. Swedbank, Citadele, LHV Bank in Estonia and Šiaulių bankas in Lithuania.

The new e-commerce platform will act as an alternative to the existing e-Link service. In e-Link, the buyer is redirected to the bank’s online banking system and can confirm a payment order that has already been prepared. Integration of this service with the online store will allow buyers to continue using any bank account for payment. Meanwhile, companies will find it easier to manage their online stores in a single system, while having to sign a contract with only one financial service provider, rather than multiple ones.

Merchants will also be able to accept payments for goods or services sold online using Visa or Mastercard. One of the most popular ways is one-off payments, i.e. convenient and secure payments for clients who are not registered on the merchant’s website. Regular clients, on the other hand, will be able to save their card details and make payments without having to re-enter the card information each time. One will also be able to make repeat payments by concluding an automatic debit agreement with the client specifying the payment frequency and amounts. Other forms of transactions and payment will also be offered, tailored to the needs of the company or client (LinkPay payment orders by email, account verification, etc.)

Access to an online merchant portal will also be provided, offering to view the payment status, refund card payments to customers if needed, and export a payment overview.

What new features will be offered?

By integrating the new e-commerce payment solution with their online trading platforms, merchants will be able to initiate payments from customer accounts not only in SEB, but also in other major Baltic banks that technically provide access to account information on third-party websites. The e-commerce payment service developed by SEB will allow online merchants to easily integrate and administer all of the most popular and customer-friendly payment methods in their trading platforms by concluding an agreement with a single bank. Merchants will be able to accept Visa and Mastercard payments, as well as integrate PayPal payments.

How will the payment security be ensured?

Card payments are secure because the cardholder is authenticated via Mastercard Identity Check or Visa Secure (3D Secure) technology.

Businesses will have access to an online merchant portal where they can view payment status, refund card payments to clients if necessary, and export a payment overview. The new platform also includes anti-fraud, consumer data protection and other business-critical solutions and tools.

Concerning the principles of Open Banking, the requirements of the EU Revised Payment Services Directive (PSD2) provide that it should be possible for online banking clients to view aggregate information about all of their payment accounts with different banks and payment service providers, whereas finance technology companies will be able to offer new services such as account information and payment initiation. It should be emphasized that customer data will continue to be fully protected and will only be accessible to third parties if consent has been obtained from the customer.

How much will the service cost?

The price of new e-commerce payment solution will depend on the wishes and needs of the company. As soon as the new solutions are available, clients will be able to apply for a personal consultation to find out more about the offer and choose the one that suits them best.

Where can I find out more about the new solution?

To find out more, please apply for a personal consultation.

If an e-Link service contract is already in place, will a new contract be required?

If you currently have a valid e-Link agreement, you do not need to sign a new agreement. However, if you would like to simplify the administration of your e-payments and use all of the most convenient payment options with a single bank, you will need to sign a new agreement when applying for SEB’s new e-commerce payment solutions.

 

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