VR Payment and PayTec launch payment integration offer in Germany

In addition to terminal hardware and payment processing, this would include full integration at the hardware and software levels. For this, PayTec has been certified for the network operation and acquisition of VR Payment. The fintech wants to expand its services in Germany while VR Payment can offer customers in the Swiss market secure payment processing with its ep2 acquiring license. This license is required for payment processing in Switzerland to support customers with cross-border transactions, both online, offline, mobile, and at the ATM.

A VR Payment representative states that they offer their customers an all-in-one solution with PayTec's expertise in the integration of payment solutions and transaction processing. Customers outside of Germany will also benefit from this, seeing as PayTec’s presence in Switzerland means the fintech’s position is suited for the entire DACH region. An expansion of the joint market activities with PayTec in Switzerland and Austria is planned.

PayTec’s offers

PayTec is based in Switzerland and specialises in providing electronic payment solutions for acquirers, network service providers, system integrators, payment terminal manufacturers, and merchants. The company offers a range of solutions including cashless payment terminals, a full payment terminal software stack (including EMV kernel), payment applications for EFT-POS terminals (currently Nexgo Global and Castles Technology platforms are supported), Cloud ECR interfaces, terminal management systems, and payment gateways.

VR Payment’s online payment options

With the functions of VR pay QuickCommerce users can get started immediately and accept online payments, including in their retail store. Among other things, digital invoices can be created, sent, and paid within minutes. A digital solution is also available for collecting donations. Additional payment features include QuickShop, an online shop including payment, QuickLink, a payment processing option via link, QuickCode, for online payments via QR code, and QuickCheckout, a payment function for one-time purchases or donations. Other options are QuickInvoice, for sending invoices, and QuickDonation, which allows users to collect donations digitally.

B2B invoice purchase

B2B purchase on account is also an available option which means that buyers select "purchase on account" as the payment method in their webshop and the check for the purchase of receivables is carried out in the background. The processing takes place in real-time and the invoice is created via VR Payment’s system and automatically sent to the buyer.