European Commission logo
English English
CORDIS - EU research results

Revolutionary secure payment management system to integrate the different elements of the payment industry with the use of SEPA

Periodic Reporting for period 1 - TMS Cloud ePos (Revolutionary secure payment management system to integrate the different elements of thepayment industry with the use of SEPA)

Reporting period: 2016-04-01 to 2016-09-30

The problem
As an international organization with operations in several countries dealing with different partners for payment terminals, POS (software) integrations, various acquirers and bank contracts, multi language and currencies you are facing obstacles and non conformity across borders.
Your financial department has to deal per country with other partners with differing reconciliation formats and reporting. Your IT department has to manage various support contracts with the added headache of combined technical protocols and solutions. Difficulties arise when matching received transactions and terminal ticket amounts from your Point-of-Sale, taking up valuable time and resources.
Changing your Point-of- Sale card acceptance infrastructure has become difficult because of cross borders legality associated with differing solutions in each Country. Expanding your business to new territories means once again building your local partner network and searching for local solutions.

Important for Society
PayPlaza is solving the challenge of a heavily segmented European payment market by further developing a Transaction Management Platform which will function as a single international payment infrastructure for all the different solution providers. PayPlaza will be the first European company that will build this.
This is a much sought after innovation for retailers who are seeking to lower their payment and administration costs. It will greatly facilitate international expansion and thereby greatly facilitating their growth and potential job creation. Additionally it will provide easier payment methods, new added value services and cost reductions for the end-customers.

A Phase 1 grant is sought to elaborate the business plan with regards to the required features of the integration layers. To do so we aim to conduct a feasibility study which will further investigate the technical and economical viability of the project.
PayPlaza conducted desk and field research methods to obtain relevant market insights. Various sources within the company as well as other stakeholders were interviewed. Furthermore extensive desk research has been done to understand in detail the types of innovations currently happening in the marketplace. The sources and stakeholders we used and spoke to represent prominent researchers and innovators from the industry.