PayFair - The European Card Payment Solution!

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Current status

PayFair Processing Platform

In August 2008, PayFair signed a system integration contract with Unisys in order to build and deliver the components required for the PayFair operations in the market.

The whole platform has been delivered end of April 2009. PayFair transactions are being tested successfully for our first pilot customer since May 2009.

The PayFair platform is supporting acquiring processing, switching and issuing processing. While Payfair is only anticipating to market the central switch capabilities and the issuing processing services (to support non-bank issuers), the acquiring function is mainly designed to enable PayFair to enter markets in case acquirers would not be ready.

The actual launch in the Belgian market is expected in a number of retailer shops starting November 2009.

PayFair Acquiring Licences

PayFair is in negotiation to licence significant acquirers within the SEPA zone. Once formalised, the list of PayFair acquirers will be displayed on the Payfair site. These initial acquirers are considered as "Founding Partners" and are supporting the deployment of PayFair within the SEPA region. 

PayFair Terminals

For Belgium, the Atos Worldline (ex Banksys) terminals are being upgraded and will be available before end 2009. The Atos Worldline Xenta terminals is available starting  end of July 2009.

PayFair Accepting Merchants

Current efforts of PayFair have been concentrated on Belgium to replace the current non-SEPA domestic brand Bancontact-Mistercash. In that context, all retailers have signed a letter of intent for the acceptance of PayFair.
Deployment timeframes have been communicated end of June 2009 to PayFair confirming the feasibility to have PayFair implemented in all terminals by end 2009 should a bank start issuing PayFair. 

PayFair Issuing Institutions

Both Banks and non-banks are reviewing their plans in the context of the SEPA implementation. Today, PayFair has an issuing pipeline of around 2.5 million cards. Further commitments are expected to be made before end of Q2 2010.