International Payment FAQ

  1. What is the international payment platform for bank transfers?
  2. What are the advantages of using the international payment system?
  3. Do international merchant need to offer payment options other than credit cards?
  4. How do customers make payments?
  5. What are the advantages of using the international payment system?
  6. How do customers make payments?
  7. How do merchants send funds?
  8. What are the advantages to corporations?
  9. How are merchant accounts handled?
  10. How does the system operate?
  11. What is the interface to the system?


  1. What is the international payment platform for bank transfers?
    The international payment platform provides a single interface to an ever-expanding global network of bank accounts in a diverse range of countries to facilitate low cost, localized collections and payouts for all types of clients. The payment systems offers merchants and corporations localized low-cost payment services for low-to-mid value payment transactions.

  2. What are the advantages of using the international payment system?
    Businesses avoid the time and expense required to establish and maintain their own international banking infrastructure. Instead, companies utilize the system’s accounts as though they were the company’s own local bank accounts in each country. Because the international payment processing system is always “in country” and thus is using the local banking networks, the need for international transfers is removed. This gives customers and merchants considerable savings on bank costs. Cash management and foreign exchange functions are streamlined and expenses are drastically reduced.

  3. Do international merchant need to offer payment options other than credit cards?
    Yes. World-wide, most buyers do not have credit cards. In most countries, local bank payments are the preferred method of payment, not credit cards.

  4. How do customers make payments?
    Customers make a deposit from their local bank account to a bank account in the same country. This can be done either by telephone banking, internet banking or an over-the-counter deposit. The system’s technology and operations team is constantly sweeping the bank accounts to check for new credits. As soon as a transfer / credit is seen the merchant is advised that the funds have arrived. The merchant can then provide the goods or services secure in the knowledge that cleared funds have been received.

  5. Can merchants send funds as well as receive them?
    In the same way that merchants use local banking relationships to receive funds, merchants can use the system to disperse funds. The service can be used to pay funds directly to customers, suppliers, affiliates or anybody else the merchant wants to pay.

  6. How do merchants send funds?
    The merchant obtains the recipient bank account details. The merchant submits these details along with the funds (either on a “one off” or “batch” basis). The system then routes the payments directly to the appropriate bank accounts via the cheapest and fastest routes.

  7. Who uses the international payment processing system?
    The system is suitable for all sizes of business. Internet merchants offer local bank transfer as a payment option for customers who don’t have or don’t want to use credit cards. Corporations use the system for business to business transactions for multiple and varied payments around the world.

  8. What are the advantages to corporations?
    Many businesses rely on making cross-border payments to external companies, and also to other global departments in their own companies. The main issue with these payments has been that the cost of payment is high and visibility of where funds reside has been low. Using the international payment system, corporations can make bank transfers for collections and payments, and gain single-view web-based visibility over all accounts on a multi currency or single currency basis. Costs are decreased, transfer of funds is faster, and administrative functionality is improved.

  9. How are merchant accounts handled?
    To begin transacting with merchants must hold one or more ‘currency’ merchant accounts. These virtual accounts are held in the system, and represent actual funds owned by the merchant. When customers make a payment to merchants, the merchant’s account is credited with the amount of the transaction. Likewise if a merchant makes a payout, the system debits the amount from the merchant account.

  10. How about foreign exchange?
    Merchants can have multiple currency accounts. In this case foreign exchange are not be required if the currencies that the merchant supports map directly to the currencies of their customers bank accounts. Alternatively, merchants can perform foreign exchange themselves before passing transactions to the system. Or the system can perform foreign exchange for the merchant.

  11. How does the system operate?
    Bank account details are provided to the merchant for each territory from they wish to collect funds. Merchants can either display these banking details to their customers themselves in their own web pages (for “e-commerce”), or they can advise the customers via email or by invoice of the appropriate payment details (for “offline purchases / transfers”). Alternatively merchants can have us host the pages for them, thus removing the requirement of updating pages as more banks constantly come on line, or being responsible for showing the different field format types that the various banks around the world require. For example in the UK the relevant pay-in information consists of a “bank account number and sort code” in other territories the details might be a “BIC and IBAN” number. Most countries have different pay in formats.

  12. What is the interface to the system?
     There are several interfaces.
    • The Merchant Administration System (‘MAS’) is a browser based accounts, management and reporting system for merchants. It includes features such as online bank statements showing detailed transactions across all the accounts held by the merchant. The system also features strong reporting functionality, allowing filtering by items such as country, currency, transaction type etc. Merchants can download these reports in convenient formats such as ‘CSV’. The MAS system includes facilities for uploading payout transactions by way of batch file – the system is flexible enough to allow merchants to use their chosen file format. . Additionally merchants can make quick ‘ad hoc’ single payments through the interface. Among its many features, the MAS includes automatic foreign exchange execution and user management functionality.

    • The Application Programming Interface (API) which allows merchants’ systems to interact directly with our cash management systems. Using open standards, merchants can be notified of incoming transactions, or make outgoing payments.

    • To assist merchants with integration, ‘One-Click’ interfaces are available. These web pages allow merchants to offer their customers access to the system bank accounts (for payins and payouts) without the need for them to develop their own pages.


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