PRODUCTS AND SERVICES
Description of Svea Payments Services
Svea Payments is a Payment Service Provider (PSP) for webstores. Integrating Svea Payments services enables webstore to provide Internet Bank Payments, Card Payments, Invoice and Part Payment 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.
Satisfaction Guarantee Services
Payment services containing Satisfaction Guarantee, in other words Escrow Services, 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 Customer Assets bank account and offers powerful tools for making changes made to the order (e.g. product returns) and the resulting refunds to the buyer. Inspection period starts when buyer has received the order. When the inspection period has passed, the order is settled to the webstore and possible refunds are made to the buyer's bank account, card or invoice. 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 Web Buyer's Services, where the buyer has various tools for proposing changes to his or her order. For web stores, Svea Payments provides an Extranet service, where web store has even more tools for making or approving the changes to the orders.