Today, most eCommerce are already clear that the mere absence of a good online payment platform on its website generates mistrust and rejection among users and can mean the loss of a large percentage of sales.
That said, businesses need to carefully select the platform that they are going to incorporate into their eCommerce, and it has to be, preferably, trustworthy, well-known and with personalized support and attention.
One of the players that you should take into account if you are considering hiring or changing platforms is. Among its many payment solutions, it has services adapted to the needs of all types of businesses, both for face-to-face sales and for online or telephone sales. For this reason, in our article today we are going to talk to you about the many possibilities offered by the platform.
What is PAYCOMET?
PAYCOMET is so flexible that it can be many things, but in short, we will say that it is an omnichannel payment platform, with Payment Entity license to operate in all the countries of the European Union. PAYCOMET helps companies to sell and collect their products and services with total security, and easily integrating into any environment, whether face-to-face or digital.
The platform was created in 2010 by two entrepreneurs with the PayTPV brand and rapidly grew in solutions and clients until in 2018 it was acquired by the Banco Sabadell Group and was renamed PAYCOMET. Its clients include large companies such as Vocento, Eroski Viajes, Yelmo Cines, Interflora or The Phone House, but it also has the trust of a large number of small businesses that are starting their digital adventure and have chosen a close and reliable partner.
To do this, its engineers have developed a wide variety of solutions, covering from the Virtual POS for ecommerce, which is already adapted to PSD2, to a complete solution to be able to receive payments by phone, email, SMS or even by . Likewise, the platform offers an innovative solution for escrow accounts and split payments for marketplaces and all kinds of online platforms.
Another one of their solutions, Call Center IVR, allows the capture of card data through interactive response systems, with total security: customers key in their card data on the mobile at the time of sale, without agents being able to listen to or save them.
And with the hotel sector in mind, PAYCOMET has developed the solution Proxy Hotel Reservations, that allows card data to be tokenized and is integrated with the main OTA’s, Channel Managers or PMS’s in the sector.
A commitment to technology
Initially, the platform opted for an on-premise infrastructure hosted in a private cloud for PCI compliance. The growth of the company and the need to offering more flexible services and scalable solutions led PAYCOMET to deploy part of its structure in the public cloud. Among the existing options, they chose AWS. During the process of deploying loads in the public cloud, they found that connectivity to AWS played a key role in the delivery of their services. Latency can make an online or physical payment a frustrating experience if there are delays.
To ensure low latency in connections, PAYCOMET finally selected Interxion to locate in Madrid the Hardware Security Module (HSM) encryption device suite and create your AWS connectivity node there. “Although initially we approached Interxion to tackle this technological project in Dublin, where AWS has its data centers, talking with Interxion we learned that it was not necessary to move equipment to Ireland, but that we could connect privately from Madrid. and direct, with minimal latency”it states Alphonse Vilasystems architect for PAYCOMET.
With the installation of the HSM equipment in the data center in Madrid and the direct connection to the AWS network node, the fintech gain in agility to manage your infrastructure and solves the problem of latency. “Not having to go to Dublin to physically audit the hardware at the PCI DSS management level or resolve incidents makes things a lot easier for us.” adds the systems architect. “With this direct connection to the AWS Direct Connect node a latency between Dublin and Madrid of less than 23 milliseconds is guaranteedwhich provides a better service and payment experience to customers.”
The added value of PAYCOMET
One of the advantages that users of this payment gateway most appreciate is the closeness of its technical and commercial team. With offices in Barcelona, Bilbao and Madrid, All product development is carried out by an internal team of experts who have been dedicated to payment systems for years and who know very well the needs and trends of the ecommerce sector.
As a result of this knowledge, PAYCOMET has a advanced module of fraud scoring or fraud management, the favorite toy of many ecommerce managers. This powerful tool helps automate fraud management at the highest level and can be integrated with external fraud managers. But perhaps the highlight of the fraud module is the simulator, which allows you to test the impact of the rules against the history of operations before putting them into production and thus assess a possible loss of conversions due to having set rules that are too restrictive or vice versa.
Likewise, the PAYCOMET team is very focused on guaranteeing the security of the platform, being pioneers in implementing PCI certification. They are also highly valued by companies with large volumes of operations, by guaranteeing the maximum availability of the system, and by innovative and dynamic businesses that require diverse operations such as 1-click payments, subscriptions and recurring payments or custom integrations, both in the front-end as well as back-end.
Last but not least, we would highlight the online onboarding system – registration process- of PAYCOMETvery fast and easy, starting with a simple form and an upload and validation of the information, parallel to the test phase by the client with a test account or Sandbox.
The future of PAYCOMET
To inquire about the situation of the company, we have spoken with the managers of PAYCOMET, who have shared with us some key points about the future of the company. After its acquisition by the Banco Sabadell Group, Jordi Pascual, Director of the Entity’s POS and eCommerce Business, has also gone on to direct PAYCOMET.
Pascual wanted to highlight that having the support and knowledge of a large group such as Banco Sabadell means for PAYCOMET to be able to continue developing innovative solutions from the model, which has worked so well for them, without losing the agility required by the dizzying pace of the market.
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