Widely used international online payment methods
As a Payment Service Provider, Buckaroo directly handles the processing of online debit card payments for Maestro, V PAY, Visa Electron, Carte Bacaire and Poste Pay. Many of these are co-branded debit cards of Mastercard and Visa. In order to pay by debit card, the card has to be loaded with an amount of credit. This can be done by linking your debit card to your bank account or by loading your prepaid card with credit. The latter applies to Poste Pay.
Debit card payments are guaranteed payments that can not be reversed by the consumer. Thus offering entrepreneurs more security of payment. Consumers all around the world use debit cards because of their safe and practical nature. Which makes debit cards popular amongst both consumers and entrepreneurs.
Thanks to the safety protocols of Mastercard, Visa and Carte Bancaire, payments by debit card are fully secured. Which leads to a positive customer experience. By offering debit cards in your checkout, you can provide a service to your international consumers.
For Visa, Mastercard and Maestro, Buckaroo can offer Interchange++. This is a well-known and transparant method for passing on the costs involved with regard to debit and credit cards. The costs for a credit card payment consist of various components: an interchange fee, a card scheme fee and the Buckaroo service fee.
IC++ a transparent and honest way to determine the price per card transaction. Transparant: because for each card transaction, we calculate a standard surcharge to the costs. Honest: because per card, we calculate the actual costs for the Interchange and Card Scheme Fees.
Interchange++ consists of 3 components:
Maestro and VPAY debit cards will cease to exist at the latest by July 2023. They will be replaced by Mastercard Debit and Visa Debit. The reason for this decision is that consumers can make (online) purchases worldwide with Mastercard and Visa debit cards, whereas Maestro and VPAY are restricted to Europe. It is therefore important that entrepreneurs offer Visa Debit and Mastercard Debit as a payment option on time in their checkouts.