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IPPay combines real-time credit card processing, online payment capabilities, and merchant account services into one solution. IPPay provides a single source solution for front-end authorization, back-end clearing and settlement and merchant accounting, allowing it to handle transactions from end-to-end without multiple-party involvement.
Specializing in the Telecom and Card-Not-Present Space
There are many factors that determine the discount rate that is charged to a merchant for the privilege of accepting credit cards. The potential for fraud in the card-not-present payment environment is one of the main drivers behind the determination of this rate.
The Telecom business model differs dramatically from the traditional Etailer in that the business consists of a large number of repeat recurring transactions billed on a monthly basis. 95% of this merchant’s transactions are from existing customers who use credit cards to pay their monthly recurring Internet, Phone and/or TV bills, while 95% of an Etailer’s transactions are from customers purchasing something for the first time. From a risk analysis standpoint, it is obvious that the probability of fraud and chargeback is much lower for recurring as opposed to new transactions.
Rates Specific to the Telecom Space
In lieu of this, the Card Associations have developed specialized “Telco” emerging market programs that apply towards recurring transactions to address the specific needs of the Telecom industry. These programs require the clearing of enhanced data and a level of control of the transaction that is impossible to maintain without direct processor front-end platform integration. Since the vast majority of front-end platforms still view the Internet as an emerging technology, direct integration requires the added expense of a secure and dedicated leased line available only to the largest Telecom providers.
As a result, most telecom providers utilize third-party gateways like Authorize.Net or PayPal for billing and get lost in the shuffle of “high-risk” e-commerce merchants and end up paying rates far higher than what they should qualify for.
IP Pay solves this issue by offering a complete and integrated gateway, front-end processing and back-end settlement solution customized for the specific needs of this space.
IP Pay is a product offering of Convergence Technologies Inc (CTI). Click here to learn more about CTI.