Online retailers looking to reduce their number of declined transactions from different countries have a new tool available in their payments-processing kit.
United Kingdom-based online-payment processor eMerchantPay is adding to its processing options what it calls the eComm module. Merchants integrating the module into their retail websites may convert more otherwise declined transactions into sales by using eComm’s ability to move them to a sponsored merchant account that uses more fraud-screening parameters, without the merchant having to go to a third party.
Fewer transactions otherwise declined for simple reasons such as payments in different currencies would need the extra fraud screening because eComm helps merchants with retail websites by providing more personalized payment forms and the ability to accept multiple currencies or payment methods, eMerchantPay says.
“With nearly a decade of experience in providing online credit card payment processing, we have identified many processing features that online businesses require to succeed,” Stephane Panyasiri, eMerchantPay executive vice president of business development for the global gaming market, noted in a press release. “EComm has been designed to meet those specific requirements of a rapidly evolving market and provide our clients with the necessary functionality to succeed.”
When using eMerchantPay, declined transactions would go to a section of the eComm module that delivers a message directing the consumer to another website as a possible option for the purchase. That website would be for the same merchant, but the transaction data would go through more fraud screening at a sponsored merchant account using the provider’s hosted payment page.
“Direct merchants, both PCI compliant and non-PCI compliant, have the fully customizable payment page on their website,” Panyasiri tells PaymentsSource via e-mail. “Third-party merchants would get the redirected payment forms with partial customization, but they would have the merchant logo and direct-transfer information.”
EMerchantPay clients pay no extra fees to add the eComm module to their retail website. Because the module is new, not all eMerchantPay customers are using it. But the goal is for all to incorporate eComm soon, Panyasiri said.
Merchants who apply may integrate the eComm module into their websites and tailor its payment form to specific business needs to avoid having to deal with multiple payment forms requiring support for different currencies or languages, Panyasiri said.
Because eMerchantPay and eComm are online-retailer tools, a paying customer generally would be unaware that eMerchantPay is the payment-service provider when entering credit card information into a form, Panyasiri said.
Consumers using a merchant’s eMerchantPay system may choose any payment option, including credit cards, debit cards, e-checks, direct debit, billing on demand, bank funds transfers, cash transfers, e-wallet payment, online banking options and micropayments.
A payments industry risk and fraud expert sees a major benefit in eMerchantPay’s newest offering, especially as it relates to security and ease of use.
“Any tool that a payment-gateway provider can offer to help with additional sales and prevent attrition from an international buyer is a good thing,” Julie Conroy McNelley, senior analyst of risk and fraud for Aite Group, a Boston-based consulting and research firm, tells Payments Source. “With every additional click a buyer has to make online, there is greater chance he will abandon the transaction. So attrition is the biggest enemy, and fraud comes in a close second.”
Fraud control, currency and language differences, shipping and exporting laws also create challenges to facilitate payments from an international buyer, McNelley says.
“The industry has studied different ways to tackle those challenges from the consumer standpoint, but (eComm) tackles the merchant end, giving them more control and a chance to review a transaction rather than flatly rejecting that sale,” McNelley says.
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