Published by Diana Kottmann
We worked on steady improvements of the platform during June. Beside the ESR Integration and integration of ISO 20022 we also worked on adding new payment processors. This time, we've focused on the integration of MF Group into wallee. The article is covering the integration itself and shows the advantages for you as a merchant.
From now on, MF Group is integrated into wallee. MF Group is one of the leading providers for purchase by invoice-services in Switzerland. In addition to purchase by invoice-services, they also cover topics like private label credit cards, gift cards, customer cards and mobile applications.
Invoice is still one of the most used payment methods in the D-A-CH (Germany, Austria, Switzerland) region. Around 20 percent of shoppers in each of these three countries are choosing the payment method invoice when they shop online. Therefore, it could make sense for you as a merchant to add invoice as payment methods especially in case a third party is covering the risk.
With the integration into wallee, it is possible to offer invoices with risk guarantee by MF Group. MF Group offers two different invoice delivery types. You can use the monthly invoice where the invoices of the clients are collected and then sent out on a monthly basis. The client has the option to pay the invoices at his own speed. On top of that, you do also have the option to send an invoice for every purchase.
However, all invoices are covered and paid directly by MF Group. This means that MF Group buys the invoices from their merchants and guarantees the payment within 10 days after purchase. The invoice itself is therefore secured and processed via MF Group.
Besides the monthly invoices, the wallee integration allows also to use the invoice on delivery where MF Group sends the relevant ESR / ISR (orange inpayment slip) information to wallee and wallee directly generates an invoice on behalf of the merchant using the document feature. The invoice contains all necessary elements for the merchant to send out the ISR to his client. MF Group will then do the collection of the payment and guarantees the payment immediately to you as merchant. This allows you to print the invoice document and send it directly with your shipment. When MF Group accepts the invoice in this scenario, the invoice is covered and the money is guaranteed.
By using wallee you can reduce the decline rate even more. The integration allows you to process invoices at your own risk. This means that you can even accept the invoice at your risk in cases where MF Group does not guarantee the payment. Of course, there is a special review flow that is fully integrated into the processes where you have the option to review and accept the invoices manually. Or you can make use of the payment routing capabilities of wallee. Doing this, you accept the invoices that are not covered by MF Group directly to your own bank account by using the ISR Integration wallee offers.
With the integration of MF Group, potential customers get access to the whole ecosystem of the wallee integrations. You can connect the MF Group processor to all available payment plugins including Shopify, WooCommerce, Shopware etc. Furthermore you can send the invoice via E-Mail or you use the cloud printing services to print the documents automatically.
Diana Kottmann, Digital Marketing Manager