wallee helps you to scale your business in new markets thanks to the standardized payment process and API.
The process drawn above is fully standardized independent from the payment methods you are processing. This means it does not matter whether you are processing a prepayment or a credit card payment - two completely different processes in terms of risk assignment, customer interaction and payment flow.
A Prepayment Transaction will remain in the completed state until it has been paid by the customer. Should the payment be done within the defined time frame on the payment connector then the transaction will switch into a final state Fulfill or it will automatically switch to Decline. Whereas a credit card transaction might go directly to Fulfill depending on your fraud settings.
This has the technical implication that you as a merchant or developer only have to implement and care for one standardized payment process. Therefore, whenever you add an additional payment method we guarantee you that it will follow this process. If you would like to get more detailed information about the states and its implications as well as additional technical details, head over to the process documentation.
As a developer or merchant you know the hassle. Adding a new payment method with your PSP requires you to provide additional data in the request. A credit card payment does not need as many information as a guaranteed invoice might need (Birthdate, Address, Gender etc.). This normally requires on your end additional coding and adjustment to your system in order to collect his information. wallee takes care of this. First of all all customer parameters and payment parameters you can provide us are standardized as well in our API. If you do not provide this information and in case case we need it we are going to ask the customer for it in the payment flow.
The screenshot below shows the example where the customer will be asked on the payment page for additional payment information that is required to process the payment with the invoice processor. To find more information about how the checkout can be customized visit our custom user interface case.
The standardized process has several implications on your business that will result in some major advantages for you when processing payments with wallee.
The most obvious advantage for using wallee is the reduction in costs of adding new payment methods to your store. This will reduce your development and maintenance costs and significantly increase your flexibility and scalability to grow into new markets segments or markets.
All specialities of a payment method like the payment flow or the collection of additional data are outsourced to wallee. Everything specifically to a payment method can be set in the setting of the payment method itself without any development on your side. Adding payment method becomes really easy.
The video below shows how easy a payment method can be added to your current processor. You do not have to change anything in your shop. Just add the payment method in the configuration and start processing as the process is fully standardized.
As the process of payment acceptance is fully standardized also has the implication that you can start accepting additional payments from multiple processors. Should a payment method not be available for your current processor you are able to add a new processor as easy as you add an additional payment method and link them together to connector configuration.
All you need to have is an account with the processor and set up the credentials and you are able to start accepting payments via this processor without disrupting your current business and without any downtime.
The video below gives you an idea how easy processors can be added in full operation. Once you have all the credentials from your additional processor you can configure it and start to process payments within minutes
Due to the standardization you can also have more than one processor for the same payment methods this has multiple advantages for you:
Payment routing is generally organized by so called conditions that can be attached to a processor. These conditions are applied on information on the transaction (like equality of shipping and billing address or origin of shipping address). Conditions can be attached to every payment connector easily. This means that you are also able to create new conditions or change existing conditions without any technical knowledge to do so.
The video below shows how filters can be created and applied to your processor configuration without interruption and without any programming knowledge within 5 minutes. A complete list of conditions and additional information can be found in our conditions documentation page.
wallee is not a PSP - wallee is a payment hub. Here's the reason. Beside the simplifications in accepting payments we also thought about the subsequent processes of a transaction. This is why we started to integrate additional features into the platform like Dunning, Chargeback Handling, Reconciliation and Account in order to give you a comprehensive payment hub.
In case you are accepting payment methods that do not guarantee payments like invoice or direct debits it is of paramount importance that you master also the error cases like unpaid invoices or reversals. This is why we also added this feature into the platform. You can create designated dunning flows with different dunning levels, costs and email as well as PDF templates.
Most of the payment methods you can process today pay to your bank account in so called collective bookings. This means the payment you receive in your bank account is actually a collection of multiple transactions (exports as well as domestic) including payment fees. In order to verify that the amount is correct and finally being able to correctly start book those entries in your accounting you require to have a consolidated view. This can be achieved by importing and evaluating the reconciliation files of your payment processor. wallee as a payment hub is able to assist you here and match the files to have them ready for export into your accounting program.