Worldline, one of the European leaders in the payment and transactional services industry, has partnered with Visa to run in-house its Cloud-based Payments solution. As such, the e-payment and transactional services providers become the pioneer in end-to-end Visa-certified payments with a very high degree of security and functionality. This deal strengthens Worldline’s position in the market to empower the cashless society by delivering innovative and quality payments.
Having established itself as a leader in the European market since more than forty years, Worldline offers technological expertise in securing and connecting transactions in the whole payment chain by using digital platforms. It is well-known across the world for its flexible and innovative approaches as well as for its healthy business relationships with partners. Electronic transactions, be they between companies, partners or any other customers, are handled with an exceptional level of security.
What are cloud-based payments?
With the spread of smartphones worldwide, payments through mobiles have become a fundamental requirement. A massive number of financial transactions are done online with financial institutions providing secure mobile payments that are contactless, that is, no involvement of a third person. This gives the customers the flexibility to choose from different mobile payment services.
Benefits of cloud-based payment systems
Payments can be made from anywhere around the world and not from a fixed point. Its flexible nature allows customers to make and receive payments anytime, anywhere without the hassle of going to a payment store. Payments can be made from mobile, laptops as well as tablets.
Cloud systems keep data secured as they cloud providers use the most secure and updated technology, leaving no room for any compromise. They follow the guidelines set by the Payments Card Industry Security Council (PCISC) before applying the Payment Card Industry security standards. Customers also get the advantage of storing their data even if they lose their laptop or mobile as everything is backed up to the cloud.
In order to enhance customer experience, these cloud payment systems can be integrated with external software like accounting as well as give the customers an option to live efficiently run their business.
Visa and MasterCard approval
Both the card associations endorse the cloud-based payment systems which allow for safe and secure transactions.
With the rise in technologies, there is a rise in global competition in the telecom sector. Since the success is fast and standardized, it decreases the time taken for a product or service to reach the market. This is where the cloud-based systems come into the picture, to ensure proper coordination is maintained.
Issues pertaining to security, accessibility, management, portability of customer data, and transparency arise when it comes to making payments through the internet and mobile. These issues are addressed by the cloud-based payment systems.
What does this partnership imply?
Worldwide, contactless payments are being adopted at a fast pace. The deal between Worldline and Visa will henceforth let clients make mobile payment by using their Android mobile Near Field Communication (NFC) phones, allowing interaction with devices in close proximity. The mobile phones will, however, have to be embedded with Host Card Emulation (HCE) technology. Issuers will be able to offer customers the option to make highly secured transactions through Visa payWave on all Visa contactless terminals in the world. This Visa certification is a testimony that Worldline is meeting Visa’s functional as well as security requirements.
Services made easy for banks
One of the main beneficiaries of Worldline solution is the bank. The latter may seamlessly integrate Worldline within their issuing systems including their existing mobile applications. Transactions will be even more secure and easier. Worldline equally manages authentication of users while credentials are stored in the Digital Wallet. The e-payment provider moreover provides processing services as well as software licensing for banks to allow the latter to manage their cashless payments in a more efficient manner. Else, it has its own stand-alone application that can be equally used. Among its clients are the HSBC, the BNP Paribas, the Société Générale and the Sparda-Bank.
Range of Services and Solutions
Worldline provides solutions for a range of services which are categorized into Merchant Services, Financial Services, and Mobility & e-Transactional services. They are known to deliver a seamless experience to their customers by providing a secure, robust and more private platform. This platform seamlessly integrates the physical and digital channels to create one unified experience for the customers.
Their end-to-end digital retail platform helps merchants to promote their business by providing digital signages. Their payment gateway Sips, a fully PCI/DSS compliant platform, is used by e-merchants across all business segments and payments are performed for leading business organizations. The payment solutions are customizable and can adjust to mobiles, tablets, laptops, etc.
Through Sips, e-merchants can accept payments through various collection methods and they can easily rely on Sips as it offers anti-fraud tools, a centralized reporting tool, and a cash management tool.
Worldline’s digital wallet helps the customers to strategize their business and enhance their experience with value-added services. It takes complete care of customer privacy and convenience and helps them by providing fraud security, accurate and faster reporting, cost-effectiveness, achieving high transactional volumes and developing new business.
The Worldline Wallet allows users to make their payments through their smartphones, while for financial institutions, it integrates cloud-based mobile payments with the existing infrastructure adhering to all the security and compliance standards. Users can conveniently shop as it enables e/m-commerce, P2P, bill payments, etc.
Worldline provides three kinds of Wallets –
- Face to Face payment wallets which uses NFC or any other technology to transmit user’s information from mobile device to the payment terminal.
- Cloud-based wallets which store the user’s data in the cloud and allows users to pay through the internet.
- OBEP or Online Banking Enabled Payments which are used for e-commerce and m-commerce, are based on transfer from bank accounts or debit.
Online Banking and online financial services
Worldline is a pioneer in delivering online financial services. They provide innovative online services which differ from the traditional payment methods. Their services are largely customer-centric, focusing on customer-centric transactions for retail banking.
Worldline has modernized payment infrastructures by introducing Worldline Pay which is an advanced software licensing solution to enhance the customer experience by modernizing payment structures. It is EMV compliant and PCI PA-DSS certified.
Worldline had acquired Digital River World Payments which helped it increase its e-payment capabilities especially the online payment collection. This acquisition helped Worldline in delivering the next generation of e-payment services which are focused on digitization.
Worldline thrives on three strategic areas
With the Internet of Things changing the course of how people do business, the development of never-ending mobile applications, e-services and the increase in the number of electronic communities, Worldline integrates these with its solutions. These solutions enrich the user experience, creates new user expectations and changes user behavior. People use their smartphones to make payments which is where Worldline targeted its solutions by enhancing their cloud-based payment systems.
Worldline provides innovative services globally and its hardware and software systems are updated regularly to keep up with the pace of the changing technology. They are experts in providing e-payment and transaction services along with utmost security.
Systems that provide a service must be constantly updated as per the latest regulatory requirements as these regulatory changes may impact the innovative services. Changes in overseas regulations help Worldline to define new standards like updating or coming up with new technological solutions for better and effective user experience.
Worldline’s Access Control Server helps it to continuously provide innovative solutions. 3-D secure compliant, its Access Control Server comprises of multiple authentication methods such SMS OTP, biometrics and static password.
To provide better payment experience, Worldline combines its two solutions, Worldline Access Control Server and Worldline Online Watcher. Worldline Online Watcher follows a series of rules to evaluate the risk of each transaction which helps in detecting fraud detection and prevention.
Banks get the advantage of reduced costs of authentication methods because of the combination of these two solutions. These solutions are fully compliant and secure and due to risk-based authentication, banks can work on their fraud strategy to make improvements. Merchants, on the other hand, get the advantage of a better shopping experience and higher conversion rates.
Digital transformations bring along a potential risk of fraud. The most vulnerable to this fraud is the smartphone. There are millions of smartphones users worldwide who are adapting to payment through their mobiles for which they have to access their banking services quite frequently. To save personal data in the mobiles, a really secured privacy solution is required, which is provided by Worldline. Available for Android and iOS users, Worldline Mobile Intrusion Protection uses a huge range of sensors to detect any malicious activity. It repeatedly fine-tunes the security policies, detects and evaluates the risk by anonymously collecting data on each device.
Revenues enhanced for other customers
As the use of contactless payment is spreading like wildfire, Worldline comes with innovative services that may help to enhance revenues for its customers. No doubt, it will eventually be used in various other payments such as travel passes or loyalty programs.
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