Payments
Payments
The range of modern payment methods in Germany and Europe has developed rapidly in recent years and offers a variety of innovative solutions for cashless payment transactions.
What needs to be done to make your payment transactions convenient and secure?
NOVOSEC AG has the experience and expertise to work with you in order to design and implement the payment processes fitting best to your company.
Various security aspects need to be taken into account: continuous adaptation of the encryption algorithms used, stricter authentication methods (e.g. biometric features), increased monitoring of transactions for suspicious activity and the promotion of awareness measures to prevent fraud. In addition, regulatory requirements (PSD2, GDPR, compliance guidelines, etc.) must be adhered to.
We define the exactly right measures for your company.
Cards: acquiring, issuing, processing, network operation
The processing of the constantly growing number of card-based payment transactions faces numerous challenges, particularly as a result of European harmonisation.
Local card schemes, such as the Deutsche girocard, are linked to the country-specific systems via EAPS and also offer international processing themselves via corresponding co-branding (maestro, vPay).
NOVOSEC offers the full range of services. Our experts have detailed knowledge in all areas of card-based payment. From card issuing and card acceptance (acquiring, network operation) to processing and integration into the bank's own backends.
We support you in setting up your PCI-compliant payment service provider platform and integrate security standards such as MasterCard Secure Code and Verified by VISA.
Selected Projects in the Areas of Acquiring, Issuing and Card Network Operations
Establishment of Acquiring
In order to expand its card acceptance business, the network operator plans to extend its offering and act as an acquirer for the global brands VISA and MasterCard.
A business plan was created that includes both the initial investment costs and the operational costs for the next five years.
The necessary contracts and the associated legal, professional and technical rights and obligations were analysed in detail. Based on this, both an organisational model and a concrete implementation plan were developed.
NOVOSEC has extensive knowledge of the payment business, particularly with regard to the technical and functional requirements for network operations, payment service providers, acquirers and the associated acquiring processing.
Market analysis card acceptance Europe
The card acceptance business within Europe differs significantly from country to country.
- Preparation of a market analysis to identify local characteristics and preferences with regard to local conditions and any barriers to market entry, preference with regard to debit/credit, and cultural characteristics.
- Development of the expansion strategy for a German network operator and the minimum requirements for the respective target country. Prioritisation of the countries with regard to market entry, the effort required for this and potential cooperation models.
NOVOSEC has extensive expertise in the area of card acceptance in Europe, including the technical and regulatory requirements for network operation and acquiring processing. The company also has in-depth knowledge of local market conditions and cultural preferences in Europe.
eCommerce-Strategy
A market analysis of current eCommerce payment offerings was prepared for a major bank. These were compared with the client's internal initiatives and projects. Meetings were held with the providers of the prioritised systems to coordinate potential collaborations.
Based on the results, concrete plans were developed, the internal plans were consolidated and transferred into a cross-divisional strategy. A wide variety of co-operation models were derived.
„The way we pay will shape the future of retail.”
Jack Dorsey (co-founder of Twitter and Square)
Development of a new payment system based on online bank transfers
Initial situation: Limited payment system based on a co-operation between the bank and a corporate customer.
Goal: Establishment of an online payment system based on a bank transfer.
Task: Coordination within the banking sector to establish a joint project.
Definition: Development of a concept with functional, business, technical, organisational and legal requirements. Creation of a rollout plan up to establishment of the desired target architecture. Establishment of a multi-bank business model including the basic definition of a fee model. Defining the minimum requirements for a pricing concept and development of a business plan for a to be established operating company.
Result: Derivation of a successful expansion strategy
Shop modules: the bridge between online shop and payment service provider
There are numerous software solutions available on the market for setting up online shops, but many of them only support a few payment systems. On the other hand, there are payment service providers who process transactions via a wide range of payment systems and offer this service to shop operators as a one-stop service. However, the prerequisite for this is that the payment service provider's interfaces can be connected to the shop system used.
NOVOSEC was engaged to create a connection for a number of different shop systems for the payment gateway system of a large payment service provider.
A cross-platform application core handles communication with the payment gateway. For each shop system, it is supplemented by a specific module that is responsible for data exchange between the shop software and the core. This allows new shop systems to be connected quickly by implementing new modules, while this architecture also enables fast and efficient maintenance when changes are made to existing shop software.