Moorwand Launches Acquiring Service to Ease Squeezed Margins for Banks and Merchants
- Security and Compliance
- 05.11.2019 09:52 am
Moorwand, a dedicated BIN sponsor that turns compliance into a competitive advantage, has today launched its online acquiring solution for customers – banks, fintechs, processors, PSPs and merchants – across Europe. Moorwand’s Merchant Acquiring provides a single payment gateway with access to multiple global payment schemes, and a multitude of payment methods, enabling businesses to process transactions, profitably.
Moorwand’s acquiring solution encompasses merchant processing and settlement, refund processing, fraud prevention and chargeback management, providing access to multi-scheme acquiring and operating within flexible payment cycles. Its pricing model is simple and competitive. Acquiring across the SEPA region will cost 1.1% per transaction where established rivals are closer to 3%. Merchant customers of Moorwand’s acquiring service are also granted access to the company’s Digital Banking solution, now supporting SEPA (Single Euro Payments Area) transfers. Merchants gain real-time settlement of acquired transactions, mitigating cash flow issues by enabling instant access to customer spend.
The new solution, developed by Moorwand’s team of industry experts, comes as a response to growing demand for frictionless ecommerce payment solutions in an increasingly commodified market, squeezed on margin. Customers can expect low operational costs, high-performance, and compliance with industry regulations. This launch is an important milestone in Moorwand’s mission to help its customers meet rising demand for diverse but seamless payment options, at convenience.
“Technological, social and regulatory headwinds are transforming business models across the sector,” said Robert Courtneidge, CEO of Moorwand. “Existing payment providers face rising commodification and they need to explore new ways of driving revenue as transaction fees plummet. Both new and existing providers need new money models that unlock value whilst ensuring compliance. With our Merchant Acquiring service, financial institutions and merchants benefit from offering or using these services simply, securely and profitably. And this is just the beginning. This launch forms part of a wider company strategy that will see our range of services expand over the coming months, including point-of-sale solutions.”