Complex Solutions
Dynamic Least Cost Routing
Relationship Approach
Network Tokenization
Eftpos Online
Stay ahead in an ever changing landscape
The enterprise payments landscape is complex. A diversified business may need a range of payment devices, have multiple finance systems, and want to offer alternative payment methods. There are many payments businesses in the Australian market, with hundreds or acquirers, payment gateways, and those developing new products. Initiatives such as Network Tokenisation and Online Least Cost Routing (eftpos online) are reducing the cost of acquiring but are only being offered by a small group of payment business. The problem with the banks is their staff only sell you products they offer and if they don’t offer a solution, they don’t talk about it, and you miss out. How many enterprise businesses know that Network Tokenisation can cut costs by up to 20% or that routing payments to eftpos can save you even more? Stop waiting for your bank to come to your rescue and let RubeePay provide a solution that saves you time and money whilst increasing sales and reducing days receivable (or DSO).
We have developed some awesome software aimed at cutting the cost of transactions for billers (processing payments via batch). In our portal, a business can set up accounts, add pricing details, including any strategic interchange rate, and we’ll process your payment through the cheaper of eftpos vs Visa/Mastercard. That means every transaction goes via the cheapest rails. We can even factor in Network Tokenisation which could save you up to 35% on your interchange costs.
Please contact David on 0478 486372 or email david@rubeepay.com.au for all enterprise enquiries.
RubeePay can Tokenize PANs (card numbers) with the Schemes (Visa and Mastercard) to lower interchange rates. Can your bank do that?
What is Network Tokenisation
Network, or Scheme, Tokenisation is an initiative by Visa and Mastercard to improve payment success rates whilst reducing the cost of acquiring. The two key benefits to Network Tokenisation are:
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Reducing rejections due to cancelled or expired card, and
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Reduction in interchange costs
Traditionally, when a card holder loses their card or their card expires, they must inform all their billers of this change (ie, electricity company, internet company, etc). It is both annoying for the merchant to have to update their systems and annoying for the card holder to have to ring all the companies where they have automatic payments. If Network tokens are used, Visa & Mastercard hold the card number and issue a token. That token doesn’t change even if the card holder is issued a new card. Instead, the card is updated on Visa and Mastercard’s systems and the token is unchanged.
Probably even more significant is the discount provided on the interchange fees which is a base cost of card acceptance (see Visa’s interchange fees here – https://www.visa.com.au/about-visa/interchange.html). The reduction in fees for Network Tokenisation is significant and savings can be over 20%.
There are however downsides of Network tokenisation which merchants need to be aware of. Network Tokens cannot be used to process transactions through eftpos which means you are stuck with Visa and Mastercard. Although there are great discounts in Network Tokenisation, there may also be great discounts in pushing payments to eftpos. This is why it is so important to get the right advice when deciding on adopting scheme tokenisation.
RubeePay are experts in enterprise payment strategy and our software ensures you process transactions, both Visa/MasterCard and efpos, via the cheapest route. RubeePay can do a free no obligation assessment of your payments to tell you exactly what you will save.
RubeePay can process your online Visa and Mastercard Debit Card transactions through eftpos. Can your bank do that?
eCommerce Store Case Study
Least Cost Routing (LCR) is the process where Visa or Mastercard debit cards are ‘routed’ or ‘pushed’ to eftpos. Traditionally LCR has only been available via a terminal where a consumer had the card in their hand to make payment but the move to Online Least Cost Routing (OLCR) has begun and RubeePay is at the forefront with many of our clients now utilising OLCR to reduce costs.
OLCR can reduce the cost base (interchange and scheme fees) as eftpos’ fees are often lower than Visa and Mastercard. Eftpos has an online interchange rate of 0.15% whereas standard debit cards are 0.22% with Mastercard and Visa. OLCR also reduces scheme fees which forms part of the base cost of a transaction. This isn’t the end of the story though as Mastercard/Visa interchange fees can be 0.11%, $0.044, $0.055 or $0.066 depending on the transaction and merchant. Confused? We don’t blame you and that is why we offer a free no obligation analysis to see what your business would save with OLCR.
Get Started Today
Request a call back or contact David directly. He has years of experience executing complex deals for some of Australia’s largest organisations.
We will work through your Company requirements, your card mix, payment process, current systems and everything in-between.
We will then send you a proposal outlining savings we can provide vs your current bank.
Once approved, we will work with your developers on any API integrations required or terminal configurations. We hold your hand through implementation.
