billwerk has already integrated these payment providers for recurring payment – a quick start with these partners is possible at any time.
Made in Germany for European Subscription Business
Payment Providers integrated into billwerk for recurring payments:
More about Payment Providers
Payment providers are an integral part of digital payment transactions in Germany. These are companies that have specialised in the processing of digital payment methods. Common payment methods include PayPal, the SEPA direct debit, instant transfer, Giropay and payment by credit card. In digital commerce and in the majority of digital business models, it is impossible to imagine day-to-day business without providers. Almost every German company in the digital economy today uses the services of one or more payment service providers.
In principle, both providers and customers take a certain risk when doing business on the Internet. For companies, this is due to the fact that the customer does not make any payment after the goods have been shipped. On the other hand, customers bear the risk of actually receiving paid products completely and in an appropriate condition. The payment service provider acts as an intermediary, reducing the risk on both sides on the basis of secure payment methods and automated processes.
In addition to their contractual terms, the established payment providers also differ in terms of the services they offer and their focus on the industry and regions. They offer several central services. These include the management of acceptance contracts, on the basis of which they issue companies with official authorizations to offer customers certain types of payment. In addition, payment providers are responsible for the technical integration of the respective payment methods. For this purpose, they use interfaces that offer both the company and the customer the highest possible level of security in transaction/payment processing. Furthermore, the automated processing of incoming payments is one of the core processes of all service providers. The administration of incoming payments is also one of the core services of payment providers. They monitor the transactions carried out and pass them on to the merchant in bundled form.
The leading payment service providers also offer customers services and service packages that go beyond the mere connection and processing of transactions. These include the provision of a risk management system. This carries out a credit check on customers during the purchase process and determines the risk of payment default on the basis of scoring models and concluded default insurance policies. In addition, numerous payment providers take over receivables management for their customers. This enables open receivables to be monitored automatically in order to send payment reminders on time or initiate dunning procedures.
Despite the many common core competencies that the majority of payment providers have in common, the offerings differ in many respects. Companies wishing to integrate a payment provider should pay particular attention to the interfaces used and the integrations offered.
Furthermore, payment providers differ primarily in terms of additional services and the means of payment supported. In this context, it is crucial that the selected service provider accepts all common complementary means of payment as far as possible. For subscription business models, it is essential that the payment provider is also suitable for recurring payment. A comparison is worthwhile in any case, as there are an estimated 1,000 payment service providers worldwide. In Germany, the most important PSPs include BS PayOne, SlimPay, GoCardless, Stripe and Heidelpay.