Moorwand launches acquiring service for online merchant sales
Moorwand, a banking identification number (BIN) sponsor, has launched an online acquiring solution for European banks, fintechs, processors, PSPs and merchants. The solution provides a single payment gateway with access to multiple global pay-ment schemes and a variety of payment methods, enabling businesses to process transactions.
The acquiring solution includes merchant processing and settlement, refund pro-cessing, fraud prevention and chargeback management, providing access to multi-scheme acquiring and operating within flexible payment cycles.
The company says that acquiring across the single euro payments area (SEPA) will cost 1.1% per transaction. Merchant customers of Moorwand’s acquiring service are also granted access to the company’s Digital Banking solution, which supports SEPA transfers. Merchants gain real-time settlement of acquired transactions, which should mitigate cash flow issues by enabling instant access to customer spend.