This article looks at:
Types of payment services offered by SlimPay
SlimPay can take on the role of both technical payment provider for merchants (processing) and bank (acquirer), with payment institution status approved by the banking authorities.
- How does payment order processing work with SlimPay?
In this case, SlimPay plays the role of technical payment provider, handling payment order processing (format and routing) only. The merchant must sign a contract with SlimPay and the institution it banks with. The bank will charge the merchant a fee for the acquisition and account management.
- How does the Full Service work with SlimPay (processing + acquiring)?
As well as the first option, SlimPay may also play a banking role for the merchant. SlimPay opens an account for the merchant from which all funds will be acquired. SlimPay is then in charge of processing payment orders and acquiring funds and will be the merchant’s only contractual point of contact.
SlimPay strongly recommends that merchants choose the Full Service option, comprising payment order processing and fund acquisition. The benefits are as follows:
- A single contract for all payment management.
- Centralized costs.
- Simplified reconciliation with an end-to-end offer: processing and acquiring, and payments by card and SEPA direct debit.
- Real-time flow automation for your payments, be they by card or SEPA direct debit
The SlimPay payment account
When the merchant signs a Full Service (processing + acquiring) contract with SlimPay, a SlimPay payment account is set up.
This payment account is a French bank account automatically opened when the contract is signed (IBAN available on the contract).
All merchant activity will be credited to this payment account. The funds will then be transferred to your company account.
A bank statement will be available to monitor activity in your SlimPay payment account.