Requirements for Europe Payment Facilitators will be aligned with global Visa requirements.
What does the change mean?
A minimum equity requirement of USD 100 million will apply to acquirers using payment facilitators. If a PF’s annual payment volume (APV) exceeds USD 50 million, the minimum equity increases to USD 500 million. Sponsored sub-merchants of payment facilitators with APV greater than USD 1 million will be required to contract directly with their acquirer. Existing sub-merchants with APV greater than USD 1 million who are under an existing contract will need to contract directly with their acquirer when the contract is due for renewal. The threshold is met by reaching APV greater than USD 1 million for any rolling 12-month period.
How will this affect you?
Merchants are NOT affected by the new equity requirement, as this applies to the acquirer and is already met by Payvision. PF partners with sponsored merchants exceeding USD 1 million in annual payment volume should touch base with Payvision’s Risk team to discuss details associated with the new mandate requiring a direct contract with the acquirer.
13 October 2018