Transaction types

The MID and TID are assigned to a merchant by Paynetics so the merchant can accept card payments. One terminal can be assigned to only one merchant.

Multiple payment method

We support Mastercard and Visa card acquiring, Apple Pay, Google Pay, Money Send and Visa Direct. All currencies are accepted, except those limited by the card schemes. You should provide the needed transaction currencies in the application form. Our settlement currencies are EUR, GBP, BGN, USD, RON.

Visa Direct and Money Send

These are real-time card transfers. The funds amount should be on the card number within 30 min or less, if the issuing bank accepts it at this time. There are banks that process transactions in a few days. The Original Credit Transaction (OCT) is a type of transaction that can be used to send funds to eligible Visa/Mastercard cards. Transfer is facilitated directly by the Card scheme. Examples of Visa Direct and Money Send services are money transfers, funds disbursements, digital wallet load, real time deposit, gambling payouts etc. Visa Direct and Money send transactions are initiated via merchant account opened with Paynetics and prefunded with us. Their advantages include speed, convenience, security, lower costs, and global reach.

Physical, Software and Virtual POS

Physical POS

Paynetics has certified several types of physical payment terminals and can offer them through a partner. A physical payment terminal, also known as a point of sale (POS) terminal is a device which accepts payment cards. If you need to certify a payment terminal, Paynetics can support you but keep in mind that the process is time-consuming.

Software POS

Software POS is available via partner Phos,. They leverage any smart Android device into a contactless point of sale terminal by allowing card acceptance and digital wallet payments without any additional hardware. The Phos provide consistent experience and great benefits to your merchants. SoftPOS solution allows merchants to accept card payments directly on their Android device without the need for any additional software.

Virtual POS

Acceptance is available via website or mobile application, where the payment page is provided by the PSP, ISO or other vendor, who is connected with you

3D Security

The domain security is used in e-commerce transactions as the second factor of authentication. When a client wants to buy goods or something else from a merchant website for example, the client enters his debit card details in merchant payment page. This card details are sent to the acquirer and the authentication part is triggered. 3DS v.2 supports two types of authentications, challenge via OTP (One Time Password) or Biometrics. In case of a challenge the client is redirected to his card issuer web page to complete the OTP or Biometric challenge. You can use our MPI (Merchant plug in) or you can choose your MPI provider for 3D secure

Swift and Frictionless Payouts

You can open Paynetics payment accounts in EUR, GBP, BGN. Business accounts include dedicated IBANs for EUR and BGN, and Sort Code accounts for GBP. You can issue virtual and physical Mastercard and Visa cards, enabled for Apple and Google Pay. You can execute outbound and receive inbound transfers via SEPA, SEPA Instant, Faster Payments, and CHAPS. Because Paynetics uses its own infrastructure, your settlement can be done faster. Paynetics supports rich payout configurations based on the merchant risk profile. If you do not use our payment infrastructure you can give us details of the payment account to which we will transfer your payouts. The payout periods by default are weekly but can be changed for low-risk merchants. We can schedule payouts based on the T + N formula where T is the date of processing and N the number of days delayed after processing. Example T+3 – on the third day after processing the transactions a payout will be initiated for all processed transactions three days ago. The final decision about the payout schedule is taken per partner and merchant by the risk department.

Chargeback

Paynetics handles chargebacks. The Paynetics chargeback team owns the end-to-end chargebacks process. Paynetics will work to find the best solution for your business to help mitigate fraud risks and boost sales at the same time. Paynetics has a strong track record of resolving complicated cases. Your merchants can implement remediation tools (RDR for Visa/ Collaboration flow for Mastercard) for chargeback mitigation if required by Paynetics Risk team or if you want to.

RDR (Rapid dispute resolution) and Collaboration flow

They offer the ability to resolve disputes by preventing a chargeback. Example: a cardholder is not satisfied with a product/service, he claims his money back from his issuer. RDR/Collaboration flow facilitates dispute resolution without the need for a chargeback.

Supported transaction types

Partners can integrate with Paynetics via API. Paynetics supports the transaction types below. Some of them depend on your use case, merchant category and region, and some need approval before they can be enabled.

Pre-Authorization
A pre-authorization places a temporary hold on the customer's card. While the hold is in place, the customer can't spend those funds elsewhere. No money is debited at this stage. The funds are only reserved.

Authorization
An authorization checks the payment details and blocks the funds so they can be captured in a later step. The card issuer verifies the payment details and reserves the funds. Before the request goes to the card network, it passes the required validation and risk checks.

Capture
Capture is a separate transaction type from authorization. Depending on your merchants, you can either capture separately after the authorization or capture together with the authorization in one step.

Partial Capture
A partial capture takes only part of an amount that was previously authorized. For example, you might use it when an order is only partly fulfilled.

Purchase
A purchase is a debit financial transaction that authorizes and captures the funds in one step.

Void
A void cancels a transaction before it is settled or completed. Whether you can void a transaction depends on its status.

Reversal
A reversal is when the merchant cancels the payment transaction.

Refund
If an authorized payment hasn't been captured yet, the merchant can cancel the authorization. If it has been captured, the merchant can process a refund. We always set limits on refunds to make sure there are enough funds to cover them. Refunds can be processed up to 30 days after the transaction.

Partial Refund
A partial refund returns part of the original transaction amount to the cardholder. One transaction can be refunded several times, but the total refunded can't be more than the original amount.

Mastercard Fast Refunds
Under the Mastercard Fast Refunds mandate, eligible refunds to the original Mastercard card are sent as Mastercard Send payment transactions. Where the issuer supports it, the cardholder usually gets the funds within about 30 minutes, instead of waiting for the standard clearing cycle. An approved Fast Refund is final and can't be reversed. You don't need to change your integration because you keep using the existing refund API. Paynetics decides internally whether each refund goes out as a Fast Refund or a standard refund. Merchants with MCC 7994, 7995, 6211 or 6051 are excluded and keep standard refunds.

Partial Authorization
With partial authorization, the issuing bank can approve part of the requested amount when the cardholder's available balance doesn't cover the full amount. Without it, the transaction would be declined. For example, if a cardholder requests a EUR 100 deposit but only has EUR 63 available, the issuer can approve EUR 63. Only the issuing bank decides the approved amount.

Response: A partial approval comes back as a successful transaction with response code "10". The amount field holds the approved amount, and the requested_amount field shows the amount originally requested. The request stays the same and the response structure doesn't change.
Pre-Authorization: If the cardholder accepts the lower amount, you can capture up to the approved amount. If they decline it, you send a reversal.
Purchase: The approved amount is captured right away. The only way to return funds is a refund.

Partial authorization is supported for Visa and Mastercard in the EEA and UK, mainly for gambling funding (MCC 7995). It is not on by default. It is enabled per MID after Paynetics approves it and you confirm your integration can handle partial approval responses.

Account Verification Service
Account verification checks card details without performing a financial transaction. It is typically used for card validation, wallet enrollment and setting up stored credentials.

AFT Visa
Account Funding Transactions (AFTs) move funds from a Visa account to another Visa or non-Visa account. Typical uses are:

Account top-ups: funding digital wallets through linked payment cards or bank accounts
Prepaid card load or reload: adding funds to prepaid cards owned by the same person or entity
Person-to-person (P2P) transfers: funding accounts for P2P transfers
Account-to-account (A2A) transfers: moving funds between personal accounts
Purchase of liquid and cryptocurrency assets

AFTs need merchant pre-approval from Visa and follow a separate enablement process.

Mastercard Send (Mastercard Funding)
Mastercard Funding Transactions move funds to another account, wallet, person or financial destination, rather than paying for goods or services. Typical uses are wallet funding, money transfers, account funding, gaming wallet top-ups, crypto account funding and securities or investment account funding.

This is the Mastercard equivalent of Visa AFT, but different MCCs are in scope. For example, casinos are in scope for Mastercard Send but not for Visa AFT. The MCCs currently in scope are 4829, 6051, 6211, 6538, 6540, 7994, 7995, 9406 and 6012. Eligibility doesn't depend on MCC alone. It also depends on the merchant's business model, use case and transaction flows, on Mastercard rules, and on the Paynetics assessment.

You don't need a new endpoint and can keep using the standard Acquiring API. However, some existing API fields become mandatory for these transactions, so you may need to update your integration before activation.

OCT
Original Credit Transactions (OCTs) let businesses send funds directly to a recipient's Visa or Mastercard card. In traditional acquiring, money flows into the merchant. OCTs are used for outbound payments instead, such as:

Paying out winnings (for example, in gambling or gaming)
Forex and crypto-to-fiat payouts
Account-to-account or peer-to-peer transfers

The merchant sends an OCT request via API. If the recipient's card issuer supports Fast Funds, the payout usually arrives in under 30 minutes. OCT complies with card scheme rules and is usually part of a broader acquiring solution rather than a standalone service.

OCTs are sent from a dedicated merchant funding account, called the OCT account:

The merchant needs a separate funding account for each currency they want to send OCTs in.
An OCT can only be sent in the currency of the funding account given in the API call.
For partners' merchants, the OCT account is an e-money account with no card linked to it, and the merchant is its beneficiary.
The merchant can ask for a partial or full withdrawal (buy-back of e-money) at any time, and can also use the OCT account to receive their acquiring payouts.
Funding accounts are opened automatically when the merchant is onboarded.

Recurring payments
With recurring payments, customers authorize the merchant to charge them for subscribed products or services on a set schedule.

CoF
In a Card on File transaction, the cardholder authorizes the merchant to store their payment details and charge the stored account for later transactions.

UCoF/CIT
The PSP must correctly flag Unscheduled Card on File (UCoF) and Customer Initiated Transactions (CIT) for later payments. A UCoF transaction uses a stored credential for a fixed or variable amount. It doesn't happen on a scheduled or regular date, and the cardholder has agreed that the merchant can start one or more future transactions.

MIT
A Merchant Initiated Transaction (MIT) is a later transaction that the merchant starts, using a credential stored with the cardholder's earlier consent. MITs must be flagged correctly and include the required scheme indicators and references to the original transaction. Recurring portfolios moved from another acquirer need approval from Paynetics before they can be processed.

Network Token Processing (Visa TCOF / Mastercard SCOF)
Paynetics processes transactions made with network tokens issued by Visa and Mastercard instead of the card number (PAN), including Visa TCOF and Mastercard SCOF. Paynetics does not act as a Token Requestor. It also doesn't provide token provisioning, token vaulting or storage, token decryption or token lifecycle management. These stay with the partner, PSP, gateway or token service provider. Partners must send the tokenized PAN, the scheme token identifiers and the other required token transaction data.

3D Secure
3D Secure is used to authenticate the cardholder. The supported scheme frameworks are Visa Secure and Mastercard Identity Check. You can use your own 3DS provider or the one Paynetics works with.

AVS
Address Verification Service (AVS) helps detect suspicious card transactions and prevent fraud. It compares the billing address the cardholder enters with the billing address held by the issuing bank.

MOTO
MOTO (mail order/telephone order) is a card-not-present transaction where the shopper sends their order and payment details by post (not email), fax or phone. It is an old, high-risk method but is still used in some industries.

Chargeback
A shopper can start a dispute and request a chargeback if they don't recognize a transaction, the service wasn't provided or the goods didn't arrive. Ideally, the cardholder tries to resolve the issue with the merchant before raising a dispute. When a chargeback comes in, the merchant can either accept it or send a representment if they have enough evidence. If a dispute goes ahead, the merchant must provide all the required documents to the PSP or directly to Paynetics.

FX Visa service
The FX Visa service uses the Visa Foreign Exchange Rates V2 API:

Exchange rates: current rates between supported currencies, including USD, EUR, GBP, JPY, CAD and AUD
Markup rates: optional markup rates for conversion calculations
Card acceptor information: support for card acceptor fields
Source settlement: conversion based on the source settlement currency
Validation: full request validation and error handling