By adding SlicePay to its portfolio, Acapture now offers a BaFin validated, PSD2-compliant solution to its international clientele. It supports marketplaces, sharing economy operators, franchises, online travel agencies and other companies handling third-party funds to become fully compliant with PSD2 (Payment Service Directive 2).

Through PSD2, the European Union (EU) opens up the market to new parties, lowers the influence of banks and adds new measures to protect citizens and their funds. Organizations that operate a marketplace business model, handling transactions between two or more parties, when either or both of the parties are located in the EU, are severely disrupted by PSD2. They need to either obtain a payment institution license or find an accredited partner to fulfill the transactions on their behalf. This also applies to Asia/US based merchants if they want to expand their business into the European region. Obtaining such a license is costly both in terms of time and resources.

As a licensed payment institution in the EU, Acapture is accredited to handle these types of transactions on its merchants’ behalf. Acapture will process and collect the funds, which are then securely stored in a trusted third-party account. Through simple and automated set of APIs calls, the merchant can instruct the system to split transactions and payout funds to its sellers. The seller can receive funds directly into their bank accounts, with no need for e-wallets. The solution does not interfere with the merchant’s business model, offering a compliant solution, keeping the consumers’ funds safe and secure.

Alongside the challenge of PSD2, these organizations also need to manage complex payouts to various partners. With one RESTful API, SlicePay makes this process simple through an automated payment system. The marketplace receives a single payment from the buyer, which SlicePay splits between the sellers, in the right currency, at the right time and in compliance with all regulations. If needed, a secured account can be used to hold the funds until the product has been delivered.
Marketplaces can use SlicePay to handle their seller’s transactions regardless of whether or not the seller is a client of Acapture, as the on-boarding and client management is all done on their side. By doing so, the full customer experience remains in the hands of the marketplace.

“We let merchants focus on growing their business and we take care of the rest. With regulation cited as one of the top ecommerce challenges, merchants are about to face a highly disruptive legislation change, namely the activation of the revised payment services directive.” said John Snoek, VP Product at Acapture. “Online marketplaces are currently experiencing massive growth and that’s what they should continue to focus on: refining and following their own growth strategies. When developing SlicePay we aimed to offer such companies a flexible, cost-effective payment solution that makes PSD2 compliance feel easy, allowing them to concentrate on developing their business”.