16.10.2005 - StandardPay Earns IPSP Status with Visa, MSP with MasterCard

SPAIN – Oct 15, 2005 – Anext Solutions S.L. Spain , dba StandardPay, a leading Online Payment Services Provider, announced today its acceptance by Visa International, London, UK as a qualified Internet Payment Services Provider (IPSP). This designation follows the company’s August 2005 acceptance by MasterCard, New York, USA as a Member Services Provider (MSP). StandardPay joins a very small, elite group of registered IPSP’s/MSP’s in Europe. StandardPay can now provide its broad array of Internet payment services as a Card Processor to any Sponsored Merchant, under the MCC Code 5967.

As a qualified IPSP/MSP, StandardPay can now offer Sponsored Merchants its powerful suite of Internet billing services, within a stable and fully compliant environment, as approved by the major credit card associations. StandardPay will adhere to Visa Int. and MasterCard policies and procedures and will deliver services to Sponsored Merchants under all appropriate IPSP/MSP rules and regulations, including:

• Direct Merchant Accounts and MIDs (Merchant Identification) issued with Merchant's own descriptor.
  
• Ability to obtain multiple MIDs per single merchant.
  
• Proper MCC Code 5967 registration with both Visa Int. and MasterCard.
  
• Proper content-based compliance for MCC Code 5967 accounts in accordance with original Visa Int. and MasterCard rules.
  
• Proper high-risk designation and URLs report to Visa Int. and MasterCard.
  
• Original Visa Int. and MasterCard global chargeback limits of 2% and 200 Chargebacks per month on Visa Int. and 1% and 15 chargebacks per month on MasterCard.
  
• A Visa Int. and MasterCard compliant contractual relationship, where the merchant has a service contract with StandardPay and a direct financial contract with the Acquiring Bank.
  
• Visa 3D Secure and MasterCard SecureCode credit card processing, which supports recurring payments

One of the greatest benefits of earning IPSP/MSP status is that it eliminates all technical and legal intermediaries between StandardPay and its primary acquiring bank. As a result, StandardPay will operate more efficiently and its services will be greatly enhanced to its Sponsored Merchants. The most significant of the benefits to StandardPay Sponsored Merchants is that they will receive direct payouts from the acquiring bank without any financial intermediary. Under this relationship, Sponsored Merchants may receive daily bank payments with a minimum holdback. Additionally, the relationship will result in the very best fee structure available anywhere in the Internet billing industry, allowing StandardPay to attract high volume Sponsored Merchants. As an IPSP/MSP StandardPay will now be able to offer rapid account approvals and setup, with MID registrations activated within three business days. Combined, these factors translate to greater efficiency and profitability for StandardPay and better, faster service for Sponsored Merchants at fees that are extremely favorable to them.

Becoming an approved IPSP/MSP is a critical development in the evolution of StandardPay because it is a distinction that few Internet billing companies attain. It is a testament to the years of dedication StandardPay has shown in delivering quality services to its Merchant clients, while performing to the requirements of the related credit card associations and acquiring banks.



StandardPay
C/ Don Ramon de la Cruz, 69
Sala 340 , 28001 Madrid
Fax: +34 914 449 128
Tel: + 34 911 311 754

« to news archive