GROPAY PAYMENT PROVIDER SERVICES
Gropay has built up valuable expertise and knowledge through its work with merchants.
This experience is invaluable to payment providers in helping them to target and services merchants.
Industry leading payment providers such as TSYS, SafeCharge and eMerchantPay have trusted Gropay.
Scroll through this page to see a range of our payment provider services.
Don’t see what you need? Contact us and we will tailor a service for your needs.
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License application with an EU regulator
Need for a payments license
Operating as an Account Information Service Provider (AISP) or Payment Initiation Service Provider (PISP) or Electronic Money Institution (EMI) in the EEA requires an organisation to be licensed by the appropriate regulatory body of their jurisdiction. (Licenses can eventually be pass-ported across the EEA).
In particular the separation of the UK from the EEA due to Brexit has resulted in UK companies with licenses with the FCA needing to apply for a license with an EEA regulator and vice versa.
Exemptions and PSD2
PSD1 offered some exceptions to regulation that have been removed in PSD2. This change has also meant that more companies need to obtain a license in order to maintain their business models.
Market opening and new entrants
More and more non banks are making use of the Financial Supervision Act to offer payment services such as operation of payment accounts, transfer of money and the issuance and acceptance of payment methods.
Gropay provides services to help organisations obtain and retain payment licenses.
Multi-disciplinary license application team
Gropay consultants consist of multi-disciplinary team members (legal, compliance, governance etc) and can take care of all the areas of preparation and complete management of the license application process from start to finish.
Preparation and quality are critical
It’s essential that any application is well prepared and meets the quality requirements of the regulator to ensure quick assessment and approval of the license.
Checking for exemptions to license
Some payment services are exempt from a license requirement even under PSD2. Examples of such services are those that could qualify for a Limited Network Exemption (LNE) or if the transaction is cash based only. Exemptions can also be obtained for smaller payment volumes and by careful corporate structuring and use of third party foundations for the separation of processed assets.
If an exemption is to be availed then it must be applied for in a formal request to the regulator. An exemption request also required careful preparation and delivery of material to the regulator.
If a license is necessary then an application and supporting documents need to be prepared. These need to demonstrate that the organisation and its Directors are reliable and suitable for the operation of a regulated business. The company and its decision makers must be able to demonstrate integrity and Directors must be able to show that they have control over the business’ operations and its risk and compliance framework. Most important to the regulator is that customer’s funds that will be processed are kept secure and safe. The company must also be able to show how it will maintain minimum equity and solvency ratios for safe operation.
The regulator will assess the proposed Directors of the company for suitability for the role.
Creation of policies and procedures
All of the above topics and more must be documented in policies and procedures for the organisation. The most important of these policies and procedures will be around Systematic Integrity Risk Assessment (SIRA), customer due diligence (CDD), Anti Money Laundering (AML), Transaction Monitoring (TM), and Incident Management (IM). A compliance framework with procedures to be followed for reporting suspicious transactions will also need to be created.
Besides compliance, the drafting of policies and procedures related to risk such as risk management policies and risk assessments will also be necessary as will be showing a clear responsibility for risk and compliance functions within the management team or Directors of the organisation.
Application submission to the regulator
Once the application and supporting documents are ready they can be submitted to the regulator. Most regulators will provide their first response within 3 months of initial submission. In rare cases when the prepared and submitted material leaves no questions this response can the the actual granting of the license but in most cases it is the request for more information or clarification from the regulator. The regulator may also request a site visit or a meeting at their premises with the Directors of the company. Once all the regulator’s questions have been answered and concerns addressed a positive decision on the license together with any accompanying conditions will be communicated by the regulator.
Embedding of policies and procedures into the organisation
The policies and procedures submitted as part of the license application need to be incorporated and implemented into the organisation. This can be through training and embedding and integration with existing policies and processes.
With Gropay’s extensive experience with regulators across Europe we can advise and support you at all stages of the license application process.
We can also provide consulting and interim staff on a temporary basis for key functions until permanent staff are recruited and approved by the regulator.
Please contact us for a no obligation initial conversation to discuss your plans.
‘We need more Hunters’ is a phase we hear often from our Payment Provider clients.
Experienced and capable sales people are hard and expensive to recruit and retain for clients.
Gropay offers an outsourced solution for merchant sales.
Through our work with merchants we have a deep understanding of what merchants expect from a payment provider and from the sales process.
We also have a strong network of merchant decision makers.
Gropay can take responsibility for Sales for a region, a vertical or just for a single large merchant.
Take advantage of our Free Initial Consultation to see how you can add ‘Hunters’ to your team through Gropay
Eighty Percent (80%) of your volume and margin growth should come from existing merchants through what are commonly described as ‘farming’ activities.
If that is not the case then there could be an issue with your merchant growth and relationship management processes.
You can outsource your merchant relationship management process to Gropay.
Gropay applies a merchant relationship management process which has been refined through our extensive work with merchants (we know exactly what a merchant is looking for from relationship management) and through our work with industry leading payment providers.
Our process includes the preparation and application of detailed account management plans which provide an insight into:
Merchant decision makers and stake holders to be managed
Key product requirements from the merchant to ensure more volume and growth
Internal action plans for delivery of merchant requirements
Merchant communication plan
Effective product management is critical for the success of a payment provider.
A Payment Provider can have the best Sales (Hunter) and Growth (Farmer) capabilities but if prospect and merchant requirements are not being effectively documented, prioritised and delivered then there is little to no chance of Sales and Growth functions being succesful.
Besides prioritising and delivering on merchant requirements, Product Management needs to also create a product strategy and a growth road map for the product based on market conditions.
Gropay brings years of experience in product management processes to help set up, complement or replace your existing product management processes. This includes:
Creation of a product strategy and growth road map based on Gropay’s knowledge of merchants and the direction of growth of the market
Processes for the capture of prospect and merchant requirements
Processes for the effective documentation and prioritisation of these requirements including the creation of User Stories , Business Cases and Product Pipeline Management
Detailed documentation of product requirements for feeding into IT development pipelines and sprints.
Documentation of new features and communication and training of sales and account management teams.
DIGITAL MARKETING AND INBOUND SALES
Are you generating the right amount and quality of inbound leads?
Gropay offers a Digital Marketing Service for Payment Providers that guarantees an increase in the number and quality of incoming leads. This service includes:
Creation of relevant content for SEO
Integrated social media presence
Search engine and social media campaigns
Email nurture processes
Our Digital Marketing Services can be combined with our merchant sales service to ensure the incoming leads are converted into live processing merchants.
Payment Providers are subject to an onslaught of regulatory compliance requirements. These include:
Obtaining and maintaining the right regulatory license requirements
Achieving and maintaining compliance with changing regulations (e.g. at the time of writing, PSD2, Strong Customer Authentication (SCA), 4th AML directive etc).
Achieving and retaining compliance requires an organisation wide effort and cross departmental cooperation.
Gropay offers the following services:
Establishment of a compliance program with clear reporting to the Board and clear measurable outcomes with timelines
Creation of a cross functional internal team to achieve compliance
Program management of the internal team to the achievement of the documented compliance outcomes
Gropay also offers the following ancillary legal and compliance services:
1. Legislative developments affecting online payments (worldwide, based on risk exposure)
2. Foreign service of process, cross-border investigations (information requests from law enforcement, courts, or regulatory bodies in other countries), and recognition and enforcement of legal proceedings abroad
3. Corporate governance matters related to regulatory oversight, suitability and integrity of directors
Regulatory Compliance Opinions
We can prepare legal opinions that can be used as you grow your business.
Compliance opinions demonstrate corporate due diligence and facilitate meaningful, cooperative dialogue in regulatory inquiries.
An objective opinion from outside legal counsel provides a compelling demonstration of your company’s commitment to its regulatory compliance obligations, from compliance with local and regional legislation like the Anti-Money Laundering requirements (AML), the EU Payment Services Directive, card scheme regulations like PCI-DSS, or global initiatives like Know Your Customer (KYC) and OFAC (Office of Foreign Assets Control).
We also help put legal opinions into practice to build and improve practical compliance programs and policies for your company.
Additional compliance services related to
A. Sanctions, import/export controls
B. Card scheme rules (MCC appeals, Chargeback penalties, Restricted purchases, BRAM violations)
C. Data retention
D. Data protection and data breach response support
E. PCI-DSS compliance
F. FX regulations
G. Online gaming rules (based on global risk assessment)
H. Repatriation of funds for currency/monetary instruments exported abroad (e.g., South Africa, Brazil, Peru, India, Egypt, etc)
I. Fraud/counterfeit/IP violations
J. Marketplace models
K. KYC compliance and AML controls incl. third-party compliance
L. Support for overall global compliance strategy/programs
M. Data analytics and marketing, i.e., how to capitalise on customer data and monetize beyond a single transaction
N. Website compliance (Terms & Conditions, privacy policies, customer care/complaints)
O. Passporting European payment services license(s) (PSPs, e-money) to other countries and/or choosing primary regulator for oversight of financial activities
P. Data sharing with partners/affiliates
Q. Consumer protections (return periods, authentication, transparent customer disclosures, due diligence)
Legal advice and contract review / negotiations
We have successfully negotiated payment related contracts for clients like Hostelworld Group, King.com, Qliro Group and eMerchantPay. Our team of lawyers with qualifications both from the United States and the EU are uniquely situated to assist you in developing, reviewing and negotiating payment industry agreements and contracts.
We use clear language to distil the risks and commitments in a contract for C level review. We use our experience across clients to ensure the best outcome for you in negotiating service levels, term and termination, commercial pricing, assignment of risk and liability caps. Our assistance not only saves you time but also valuable internal legal resources so you can minimise your risk and reach your commercial goals quickly. Some of our detailed contract related services include:
A. Outsourcing of legal or regulatory obligations (KYC, financial products/services)
B. Primary service provider contracts
C. Service Level Agreements (for IT services)
D. Card scheme rules and compliance obligations for merchants, aggregators, acquirers and intermediaries
E. Sub-merchant agreements
F. Value-added service providers (invoicing, payouts, reconciliation, distribution, supplemental products or services)
G. Bilateral or trilateral agreements with acquiring banks and/or third party processors
H. General recommendations re: developing a comprehensive global legal/compliance strategy incl. targeting specific markets, structuring operational infrastructure in line with business priorities and risk appetite, licensed activities, mitigating risk exposure, dispute resolution, and choice of court and choice of law analysis
I. Fee disclosures and schedules linked to legal or regulatory requirements
We are happy to respond to any questions you may have regarding legislative developments, legal opinions or contractual provisions related to our other service offerings, always provided by a qualified legal expert who is familiar with your business and the online payments industry worldwide.
For matters requiring additional knowledge or local legal expertise, we are able to provide referrals for country-specific or subject-matter legal expertise.
RISK AND FRAUD MANAGEMENT
For our PSP and acquirer clients we provide services around setting up and reviewing appropriate risk policies, processes and guidelines. Training and coaching risk staff to ensure that the right processes are implemented to strike a desired balance between risks management and business development.
We assist in ensuring compliance with card scheme rules and regulations and maintaing compliance with scheme acquirer risk programs. We provide Portfolio Management and Remediation reviews, Merchant and Partner Due Diligence Reviews and Non-compliance Remediation.
STRATEGIC PLANNING SERVICES
Strategy formation and review can benefit from an external perspective, knowledge, network and experience.
Strategic planning performed without the right external assistance often does not have the right questons asked, the status quo does not get challenged and group think goes unchecked. Sensitive issues ae carefuly avoided, past failures get swept under the carpet and organisational weaknesses do not get addressed.
Different strategic options are not thoroughly explored preventing the organisation from identifying new growth opportunities and reaching its potential.
In addition management cannot afford to be solely focused on strategic planning, neglecting the day-to-day operations.
Gropay brings experience, knowledge and a fresh, objective perspective – independent from company culture, office politics, personal sensitivities, and group think.
Gropay facilitates the planning process and serves as a sounding board for management. Through its expertise Gropay enhances the internal strategic planning team, guiding the planning process to be more thorough, objective and rational.
Gropay consultants help identify the best opportunities for growth bringing a fresh and independent perspective, as well as tools and methodologies to support smart business decision making.
The purpose of Strategic Planning is not to create a thick, impressive looking document that sits on the bookshelf, but to develop a detailed action plan for achieving growth that is ready for execution. Without skillful implementation of the plan, the company is no better off than it was before the Strategic Planning effort.
Gropay consultants not only make recommendations but also help plan and create change, working closely with management in obtaining and analysing information and making smart business decisions. That requires developing a deep understanding of the company’s culture, leadership, market position, strengths and weaknesses, and opportunities.
Gropay delivers strategic planning in the following areas:
-Opportunity Identification and Assessment
-Product Strategy Development
-Market and Competitive Analysis
-Partnership Evaluation & Strategic Sourcing
-Market entry strategies and recommended product and price bundling strategies
-Competitive landscaping, mapping current incumbent and emerging providers to market domains, while highlighting risks and opportunities
-Mapping current and evolving market requirements to client assets and strategies, and recommending market entry options
-Strategy due diligence for private equity investors
RFP RESPONSE PREPARATION
As a supplier of payment services the old adage applies that if you were not involved in the preparation of a RFP then the chances of winning it are low. While you can’t be involved in all the RFPs that your company may wish to respond to, Gropay offers the next best solution.
Our consultants have years of experience in RFP preparation and response. We know what your clients are looking for and can work with your organization in making sure that the RFP response addresses the core needs of the client.
We leverage our payments knowledge, experience and network to also facilitate an open dialogue between the supplier and the client during the contract re-negotiation or RFP process to make sure that the client’s requirements are clearly understood and the supplier’s abilities and benefits are clearly understood by the client.
EMEA OFFICE SET UP SERVICE
An office in a key EMEA city like Amsterdam, London or Berlin is critical for any payment provider wanting to expand into the EMEA market. Gropay assists clients in the creation and management of a local office in Amsterdam. Our services range from finding and leasing an appropriate office space for the client, furnishing this space to the client’s brand requirements, recruiting the right staff for the office and the ongoing HR and operational management of these staff. We work closely with the operational lead from the client’s headquarters to ensure the corporate processes and procedures are adequately followed.
TALENT ACQUISITION SERVICES
Do you find it hard to recruit and retain the right payments talent?
Gropay is a payments consulting company. In our consulting work we noticed the following:
1.There’s a strong demand for payments talent acquisition and talent is hard to find
2.The market is saturated with aggressive recruitment firms ‘CV shopping’. If you don’t use them you can’t fill your positions fast enough, if you use them you risk damaging your employer brand
3.Internal Human Resources (HR) departments are balancing the demands of talent acquisition with internal demands such as talent induction, retention, growth and maintaining corporate culture
To address these issues we decided to look at talent acquisition from a HR perspective.
What if an experienced HR professional with decades of interviewing, profiling, retention and HR operations experience performed your external recruitment?
What if the focus was not only on filling the position as quickly as possible but on building your employer brand in the market and in filling the position with the right person?
What if besides finding the talent you received a range of accompanying HR services in making sure your new colleague is successful in their new role?
What if all this was delivered on a no cure no pay basis at or below the cost of your current external recruiter?
We would love to discuss our services with you to see if there could be a fit.
WHY CHOOSE GROPAY
Gropay differentiates itself through a creative application of our payments knowledge, experience and network. It is the combination of these factors that helps us to deliver consistent value to our clients.
Our focus is on finding simple solutions to complex challenges. In our experience the key to doing so is creativity in problem resolution. We start with the end in mind by carefully agreeing first the measurable outcomes or benefits that need to be achieved. We take inventory of the existing assets and capabilities and plan a creative path to the benefits.
Gropay has been successfully delivering measurable benefits to its clients since 2008. We have delivered numerous successful projects through these years. This experience is invaluable to potential clients. It helps us to understand the client’s challenges quickly and to apply best practice methodologies and processes to quick project success.
Gropay is a team of experts. We pride ourselves in our hands on knowledge of payments and financial technology. Our work directly with merchants gives us invaluable knowledge on the payment related challenges and goals of main merchants verticals. Our work directly with payment providers and schemes gives us knowledge on the operations and demands of payment providers.
Gropay Free Consultation
Gropay offers a no commitment initial free consultation. The purpose of this initial meeting or call is for you to get to know us and for us to understand if and how we can help you. Please use the form below and we’ll be in touch shortly to set a time for the consultation.
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