Using an online travel agent as an example of how payment partner works
As a leading provider of seamless B2B payment solutions Ixaris (the sponsor of OPC Live) have provided their payment partner solution for the OPC Live competition. Payment partner’s single use and reloadable prepaid virtual cards enable organisations to side step the most common payment challenges associated with corporate purchases.
The Payment Partner API provides
By minimising costs and maximising ancillary revenues through better interchange. Ixaris Payment Partner allows you to optimise your payments in a way that work best for your business.
Ixaris Payment Partner lets you control how your virtual cards are generated: consumer or corporate card: single load or reloadable; choice of currency; single or multiple spend; Visa or MasterCard.
All card transactions are easily tracked. Payment Partner puts the information you need at your fngertips through a suite of ‘out of the box’ reports, making for a smoother reconciliation process.
Ixaris Payment Partner virtual cards reduce your exposure to fraud while helping to maintain your PCI compliance.
How does Payment Partner Work?
The business account representing a corporate is today created by the Programme Manager so the credentials are shared with the corporate.
The corporate administrator can log in to the Corporate Administration Console and set up one or more Managed Accounts where to hold the corporate funds loaded from the corporate’s bank accounts:
The administrator can view the list of Managed Accounts created for the corporate account, including the Managed Account balances:
The administrator registers one or more external bank accounts from where to transfer money into the Payment Partner application:
The administrator can manage the list of external bank account registered and initiate bank transfers to the Managed Accounts:
For each corporate purchase, the administrator can create a Managed Card and load some funds from a Managed Account to cover the required purchases on the card:
For a particular card, the administrator can view the activity including any transfers and purchases. In case of single-spend cards, any remaining funds can be returned to the managed accounts and the card is destroyed:
Inside Payment Partner
Opening the bonnet to Payment Partner, this is the payment model you will be using if selected as a participant to create your application:
APIs for the Payment Partner model