Wirecard Among First To Offer Payment Guarantee For Credit Card Payments

Wirecard, the digital payments solutions company, rolled out a mobile payment guarantee for credit card payments.  In a press release announcing the news, it said it is among the first companies to offer this service.

Wirecard is going after the small and medium-sized online merchant marketplace with this service, given payment defaults from their customers can create economic challenges for the merchants. In a press release in Finextra, the company said it is taking the step given its leadership position in the field of risk management solutions.

The Fraud Prevention Suite (FPS) uses innovative technologies such as machine learning and artificial intelligence in the process. Merchants’ conversion rates can be markedly improved with the FPS, resulting in significantly increased sales, Wirecard noted. The payment guarantee based on the Wirecard risk management solution reveals just how precisely the pre-recognition and fraud prevention processes now work, thereby providing the logical next step.

“Offering our merchants this exceptional level of value-added services is an important step for us. Merchants want a single portal for all questions regarding transactions and value-added services. The Checkout Portal is already the most comprehensive product of its kind on the market, and with the integration of the payment guarantee, we are further extending our market leadership, all the while maintaining our original, unchanging objective of allowing merchants to concentrate on their core business with payment processes running smoothly in the background,” said Christian Reindl, executive vice president of Sales Consumer Goods at Wirecard.

The digital payments solution will initially be available for new merchants using Wirecard’s proprietary SUPR platform in Germany and will soon be rolled out across Europe.

SUPR is an eCommerce mobile payment solution from Wirecard for a quick and easy start into the online business. On registering with the platform, shop operators can integrate the online payment guarantee solution as an additional, optional payment package. In the next step, the online payment guarantee for credit card payments will be integrated within the comprehensive Checkout Portal.