Local Currency Credit Card Processing

PacNet’s extensive credit card processing capabilities give you the ability to offer customers convenient local-currency payment options via the web, direct mail, or other direct sales channel virtually anywhere in the world.

We specialize in serving the e-commerce, mail order and not for profit industries and understand what is involved in launching a new product in an international market. We ensure that the whole process of accepting credit cards as a form of payment runs smoothly, from the time a consumer gives out their credit card number to the time that the funds are in the bank. Here is a summary of our service:

The Advantages

PacNet will provide you with an end-to-end banking solution that includes:

• Visa and MasterCard merchant accounts in the currency or currencies appropriate to your target market

• Website integration instructions that leave you with full creative flexibility

• Optional “MarketDirect” secure hosted payment page supports dynamic currency conversion or pricing in any single currency.

• Real-time or batch credit card authorizations depending on your needs

• User-friendly virtual terminal for handling exceptions, refunds, telephone orders and more

• CVV2 card verification and proprietary fraud screening through the RAVEN online processing platform

• Quick settlement of funds to the same bank account you use today in whichever currency you require

• Fast and accurate reporting of all transactions via RAVEN online, our cutting edge worldwide payments portal

• Easy integration with other payment processing services including check processing, direct debit, electronic funds transfers, bank transfer collection and check issuing

Regardless of the type of processing undertaken, each transaction is authorized and charged in the appropriate currency. This ensures that your customers see the exact amount they expect on their credit card statement, without conversion, greatly reducing the risk of complaints and charge-backs.

Set Up

Depending on your requirements, transactions can be authorized in batches, one-at-a-time via secure link from your shopping cart, or one-by-one via the web-based RAVEN virtual terminal.

The currency of a given transaction and the associated merchant name that appears on the cardholder's statement is established at the time of applying for your merchant account with PacNet Services. PacNet clients may use whichever "Trading-As" name they choose. It is always the appropriate catalog, promotion, or company name that appears on the cardholder statement.

Your customer service phone number will also appear on the cardholder statement for the convenience of your customers and to further reduce customer queries and chargebacks.

Authorization and Processing

While the credit card transactions are authorized immediately upon receipt, the transactions are charged and settled once you have released the authorized transactions for further processing. This is typically done on a daily basis.

The funds for each released credit card transaction are settled to your PacNet client account within two to five business days. PacNet will then either maintain the balance as a credit on your client account, or forward the funds by wire transfer to your company dedicated bank account.

Receiving Funds

You may choose to receive funds in the processing currency, or in any other currency of your choice. The currency of your credit card merchant accounts need not match the currency of your PacNet client account. Many clients process in multiple currencies, yet choose to receive all funds in US dollars, Euro, or Pounds Sterling depending on the location of their business. Our clients will always receive favorable currency exchange rates, often better than the retail rates offered by the banks.

Our all-inclusive percentage commission for credit card processing is reasonable no matter what the currency. There are no extra service charges for merchant account set-up, authorizations, charge-backs, consulting with the call centre, or wire transfer of settlements to your designated bank account.

Handling Chargebacks

To accommodate the possibility of charge-backs up to six months from the date of purchase, PacNet Services will maintain a rolling security reserve by transferring a small percentage of each net credit card payment to a company designated holdback account for a period of six months.

Contact us today for a risk-free consultation and indication of rates.