PayFair - The European Card Payment Solution!

PayFair, the New European Payment scheme, is benefiting merchants by offering more choice at the check-out and more ransparency in the costs.

Implementing Payfair will ensure that transactions are process cheaper, faster and more securely.

PayFair benefits for merchants in a nutshel:

• Transparent and low transaction costs generate substantial cost savings (potentially tens of million € for large merchants !)
• No investment for acceptance
• Control on payment costs: choice between guaranteed or non guaranteed payment; choice between no authorization / authorization by card issuer or by current account bank.
• Productivity gain: by combining loyalty + payment functions on the same card.
• PayFair is a “disruptive” innovation: the key role of the merchants is acknowledged for the first time (open governance)

PayFair is therefore offering merchants with the most competitive option for card payments at the Point of sale. PayFair is ensuring that a transparent pricing associated with un-bundled services is now accessible to merchant.

Beyond a potential drastic reduction of transactions costs for merchants in certain countries, PayFair is also promoting new payment methods that leverage retailers’ experience to address the need of this industry.

PayFair is already partnering with a number of acquirers across Europe to ensure you can get access to this unique leading European solution !

A flexible issuing solutions for Merchants and Banks:

While the primary issuer of cards remains the bank, PayFair is also enabling merchants to issue cards if so whished.

PayFair indeed introduces the concept of “decoupled” debit further than any scheme has achieved so far, enabling merchants to issue cards linked to the existing current account of their clients, eventually combined with their loyalty program card.

PayFair is indeed decoupling the notion of card issuer and current account issuer.  It is therefore allowed under the PayFair scheme to issue a card on a current account maintained at a third party institution.  As a result, merchants (or banks) issuing cards to their clients will have the choice to either authorize the card based on the client information they have within the card management located within PayFair infrastructure or , in order to minimize risks, get an on-line authorization from the current account institution which the cardholder has linked to his card.