One price for all institutions: simplified processing and lower costs.
Eschborn, 25 April 2016. Concardis GmbH in Eschborn is the first payment services provider to implement the merchant concentrator model for the paydirekt online payment method. Concardis, the leading payment services provider in German-speaking Europe, has concluded the necessary contracts with participating banks and savings banks. Concardis therefore immediately offers online merchants a simple way to connect to the e-commerce payment system of the German banking system. The advantage is that the merchant no longer has to negotiate the price of the respective paydirekt transaction with all institutions. Instead, the merchant can agree a price with Concardis which applies for all financial institutions for this payment method. At the same time, the merchant benefits from the purchase conditions agreed with Concardis based on the bundling of payment transactions. ‘With our merchant concentrator model which has now been implemented, we make it easier for online merchants to use paydirekt as a payment option,’ says Marcus W. Mosen, CEO of Concardis. ‘Above all, the demand for smart solutions applies to payments. In particular, that means that processes must be simple. That is what we are working on and we now offer that for paydirekt.’ By including paydirekt in the product portfolio, Concardis offers merchants all relevant online payment methods in Germany.
Online merchants have a central point of contact in our concentrator model. Up to now, merchants who wished to offer paydirekt as a payment method concluded individual contracts with the participating banks and savings banks. Now they can negotiate terms centrally with Concardis and conclude a single contract. This makes connection to the payment system simpler. ‘We are pleased to bring our merchant concentrator model to market with an established partner such as Concardis. This means that merchants are given a simple and easy solution from a single source,’ noted Dr Niklas Bartelt, Managing Director of paydirekt GmbH.
It is worth connecting to the paydirekt payment process: it enables simple, fast and above all secure payments in e-commerce without having to set up an additional account. Because the process runs via the customer’s own current account, the seller is always assured that sufficient coverage for the transaction exists and that they will ultimately receive the funds. The system is subject to the entire security architecture of the German banking industry, German data security regulations and German bank secrecy.