Realex Payments (www.realexpayments.co.uk) Europe’s leading payment service provider, announced today the launch of multi settle, a product specifically aimed at the retail sector http://www.realexpayments.co.uk/uk/e-retail-payments. This is a unique solution developed to address the challenge of aligning the settlement of customer funds directly with the point at which goods are dispatched.

Jon Sheard, Head of Retail at Realex Payments added “the development of multi settle was a direct response to the requirements of a number of our retail clients. The concept is simple but effective, for a basket of say £100 containing 5 items; the retailer can authorise for the full amount and then settle the funds for each individual item, as and when shipped. This is particularly relevant for the market place business, such as notonthehighstreet.com and Amazon. It is fully compatible with 3D Secure ensuring that the merchant remains fully protected and compliant with 3D Secure rules.”

The benefits to the merchant and consumer are clear:

• Improved customer experience and satisfaction.
• Reduced disputes, customer complaints and refunds.
• Funds only collected when the goods are shipped.
• The retailers risk profile from a bank perspective is improved due to the reduced lead times from funds being settled to goods being shipped.
• Improved accounting and reconciliation.
• 3D Secure is fully supported.
• Accredited with a number of UK banks

Notonthehighstreet.com was the first retailer to deploy this solution with Realex Payments “With such a unique and complex concept for our business model, we needed a payment provider who could deliver a bespoke solution. Realex Payments have worked with us to develop a secure and efficient system that benefits the needs of our customers, the small businesses we work with and us as the marketplace” says Holly Tucker, CEO of notonthehighstreet.com

About Realex Payments:

Realex Payments is one of Europe’s largest and fastest growing payment service providers processing in excess of £14 billion annually for over 8500 clients and delivering a 90% growth in retail transaction volumes over the last 12 months. Our clients include GSK Direct, notonthehighstreet.com, Virgin Atlantic, the AA to name a few.

“Our retail expertise, ability to listen, understand, and our open approach is why retailers are turning to Realex Payments as their payment partner” Jon Sheard concluded.

For more information please visit www.realexpayments.co.uk

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