PayLoop Services.
With our financial clearing you have your finances under control.
The shopping center issues gift cards, and the shops in the center accept them at their checkouts. We initiate the payment from the card issuer's bank account to the acceptor's bank account.
The following aspects must be considered:
- No card transaction, no financial clearing.Every top-up and redemption of a value card is recorded as a financial transaction.
- Top-up amounts go directly to the card issuer.If the card issuer sells a gift card, the proceeds go directly to the card issuer's bank account.
- Anti-money laundering laws must be strictly adhered to.The card acceptors must demonstrate a close relationship with the issuer of the gift card. This could be, for example, the tenants of a shopping center or the franchisees of a retailer.
- Redeemed amounts go to the card acceptors.Our financial clearing ensures that the card acceptor's balances with the card issuer are settled daily.
- The four-eyes principle applies in financial clearing.We double-check every payment order using the four-eyes principle. The process from transaction report to payment order is fully automated, ensuring maximum reliability.
- PayLoop initiates payment orders via EBICS.The payment orders are transmitted by us to your bank, where the electronic signatures are validated and the payment order is executed via your bank account.
PayLoop Services.
Financial clearing takes place via Deutsche Bank’s EBICS multibanking tool.
The electronic banking standard EBICS (Electronic Banking Internet Communication Standard) meets the requirements for a modern, fast and flexible communication connection for the transmission of payment transaction data over the internet at a high level of security.
