Description of Svea Payments Services
Svea Payments is a Payment Service Provider (PSP) for webstores. Integrating Svea Payments' services enables webstores to provide online bank payments, card payments, mobile payments, invoice for consumers and companies and part payment for consumers as payment methods available for their buyers to choose from. Svea Payments is responsible for charging the funds from the buyer, settling the funds to webstore and creating settlement reports for accounting purposes.
Direct Payment Services
In its simplest form, Svea Payments payment service handles direct payments where buyers' payments are settled to the webstore as soon as possible, usually on daily basis. Bank payments are normally settled to the webstore in one or two banking days. In case of direct payments, the following technical interfaces are available for the webstore: Retrieve Available Payment Methods, Retrieve Dynamic Image Material, Payment, Payment Status Query and Retrieve Settlement Reports.
Escrow Payment Services
When Escrow Payments Services is used, an inspection period (at least 14 days recommended) is specified. In case of these escrow payments, Svea Payments keeps the buyer's payment funds on specific Customer Assets bank accounts and offers powerful tools for making changes to the order (e.g. product returns) and the resulting refunds to the buyer. A refund is always made to the payment method that the buyer originally used when making the order. The inspection period starts when buyer has received the order, either according to our delivery tracking or according to the webstore's notification to Svea Payments. When the inspection period has ended, the order is settled to the webstore. In case of escrow payments, the following technical interfaces are available for the webstore: Retrieve Available Payment Methods, Retrieve Dynamic Image Material, Payment, Payment Status Query, Delivery Information Management, Payment refunds and cancellations and Retrieve Settlement Reports.
For buyers, Svea Payments provides a service called Buyer's Assistant -service, where the buyer has various tools for proposing changes to his or her order. For web stores, Svea Payments provides the Extranet service, where the webstore has even more tools for making or approving changes to orders.
Making a payment
The buyer chooses Svea Payments when he/she wants to pay for the order. The webstore then sends the order and payment details to Svea Payments using our Payment API. The buyer is then displayed a page where he/she can choose one of the payment methods made available in the webstore.
Choosing payment method already in the webstore
The webstore can display the available payment methods for the buyer in their webstore's checkout page. The webstore must retrieve the available payment methods per order using Retrieve Available Payment Methods API. Also, the Payment API must contain the code of the payment method (
pmt_paymentmethod) that the buyer chose in the webstore. When the buyer chooses the payment method on a page displayed by Svea Payments, he/she agrees to the terms and conditions. On the other hand, if the buyer chooses the payment method in a webstore that is using the Escrow Payment Service, the webstore must display the aforementioned terms and conditions in the webstore and ensure that the buyer agrees to them.