Extending payment offering
As a forward-thinking business this global payment services provider uncovered a way to complement their existing European payment by offering Direct Debits. As a way to optimize their service portfolio and unlock new business potential, the client offered their customers Direct Debit as an additional payment method in Europe while receiving the revenue in
their designated currency.
However, with little expertise in handling direct debits in Europe, this Global Payment Service Provider looked to Broker as their full-service partner – capable of providing Direct Debit and related services (reconciliation-to-reporting) in key European countries. The service was required on a white label basis so that it could be provided as part of the clients processing suite.
In Broker the client found a full-service partner who was reliable, efficient and skilled in the creation of the tailor made service they required. To facilitate the white label service, Broker would receive real-time and offline bank account validation requests and process direct debit settlement files from the client on behalf of their merchants.
Broker tailored the program even further by selecting partner banks in Europe and opening trust accounts on behalf of the client as well as setting up and managing the local payment and information flow. As a result, the client could rest assured that Broker adhered to all local banking requirements
and regulations for each country – and, or, bank.