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Online Payments

Wirecard, RatePAY enter strategic alliance

Wednesday 5 October 2011 | 01:08 PM CET

German-based international provider of electronic payment and risk management services Wirecard AG and RatePAY, the provider of online instalment payment services, have entered a strategic alliance to provide instalment payments for online purchases.

As part of the agreement, both companies will jointly offer RatePAY instalment payments to the German market. RatePAY installment payments can be processed without using Deutsche Post’s Postident identification service and can, thus, be processed online without changing media.

Therefore, RatePAY processes the purchase for online retailers while Wirecard Bank AG provides the requisite financing services, including the payment guarantee. Moreover, online shop operators who already use Wirecard services can add RatePAY instalment payments to their payment methods. RatePAY provides payment methods such as “RatePAY-Instalments”, “Rate-PAY-Invoicing” and “RatePAY-Relax”.

In recent news, Wirecard AG has expanded its risk management services offering by adding a series of business intelligence tools. The new tools allow shop operators to estimate the effectiveness of their risk management strategy, also allowing merchants to benefit from transparency on how central fraud parameters develop over time. This provides shop operators with increased control of fraud as it occurs.

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