Solidgate and RozetkaPay Join Forces to Enhance Polish E-Commerce Payments
Hey Payments Fanatic!
After attending Money20/20 in Bangkok, I flew straight to Dubai for Token2049 — and it was worth it. One highlight: catching up with Christina Smedley, co-founder of Lightspark, to talk about their latest big news — the new collaboration with Coinbase.
Plenty more is coming from Lightspark, and based on what I heard, I'd highly recommend keeping a close eye on them. Stay tuned 😉
Solidgate has teamed up with RozetkaPay, the payment arm of Ukrainian e-commerce giant Rozetka.ua, to make shopping on Rozetka.pl easier for Polish customers.
The partnership brings two big wins to Polish shoppers: local currency payouts and support for BLIK, Poland’s go-to payment method. That means faster, smoother checkouts and fewer failed transactions.
"We're excited to partner with RozetkaPay to deliver tailored payment solutions for their clients in Poland," said Andrey Kononenko, Head of Merchant Operations at Solidgate. "By providing streamlined payment services with local currency payouts, we'll help Rozetka grow and thrive in a competitive market."
But they’re not stopping at Poland. Solidgate and RozetkaPay are already eyeing new markets like Romania and Turkey, with plans to roll out more localized payment options and keep the expansion rolling.
Read more global payment industry updates below 👇 and I'll be back with more tomorrow!
Cheers,
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GOLDEN NUGGET
𝐓𝐡𝐞 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧 𝐭𝐨 𝐂𝐚𝐫𝐝𝐬 𝐢𝐧 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬 by Travel & Payments👇 — Created by Arthur Bedel
𝐂𝐚𝐫𝐝 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐅𝐥𝐨𝐰 - Simplified
At the heart of every card payment is a variety of participants, from merchants to banks, gateway, PSPs and card networks. Understanding how these parties interact is key to grasping the complexity of payment processing.
► 𝐈𝐬𝐬𝐮𝐞𝐫 → Provides / Issues cards to customers (Revolut, Citi, Nubank)
► 𝐀𝐜𝐪𝐮𝐢𝐫𝐞𝐫 → Processes merchant transactions, those include Acquiring Banks and PSPs with Acquiring licenses (Fiserv, Chase, Worldpay, Checkout.com, Payplug)
► 𝐂𝐚𝐫𝐝 𝐍𝐞𝐭𝐰𝐨𝐫𝐤 → Connects Issuers, Acquirers and PSPs (Visa, Mastercard, GIE Cartes Bancaires)
► 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐆𝐚𝐭𝐞𝐰𝐚𝐲 → Connects merchants to acquirers, those include traditional gateways, orchestrators and PSPs - only listed traditional and orchestration in examples (ACI Worldwide, CellPoint Digital, DEUNA, Cybersource)
𝐇𝐨𝐰 𝐝𝐨𝐞𝐬 𝐚 𝐂𝐚𝐫𝐝 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐰𝐨𝐫𝐤?
1️⃣ 𝐒𝐭𝐞𝐩 𝟏: Customer visits a merchant’s website and enters their card details.
2️⃣ 𝐒𝐭𝐞𝐩 𝟐: Merchant sends the transaction request to an Acquiring Bank (Fiserv, Chase) via a Payment Gateway (ACI Worldwide, CellPoint Digital).
3️⃣ 𝐒𝐭𝐞𝐩 𝟑: The Acquirer forwards the request to the Card Network (Visa, Mastercard).
4️⃣ 𝐒𝐭𝐞𝐩 𝟒: The Card Network checks with the Issuing Bank to validate the transaction.
5️⃣ 𝐒𝐭𝐞𝐩 𝟓: If approved, the Issuer confirms the transaction, and funds are authorized.
𝐓𝐡𝐞 𝐂𝐚𝐫𝐝 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐏𝐫𝐢𝐜𝐢𝐧𝐠 — 𝐓𝐡𝐞 𝐅𝐞𝐞𝐬 𝐁𝐫𝐨𝐤𝐞𝐧 𝐃𝐨𝐰𝐧 💳
1️⃣ 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐢𝐧𝐢𝐭𝐢𝐚𝐭𝐞𝐬 $𝟏𝟎𝟎 𝐩𝐮𝐫𝐜𝐡𝐚𝐬𝐞.
2️⃣ 𝐈𝐬𝐬𝐮𝐢𝐧𝐠 𝐁𝐚𝐧𝐤 (Revolut, Citi) deducts an 𝐈𝐧𝐭𝐞𝐫𝐜𝐡𝐚𝐧𝐠𝐞 𝐅𝐞𝐞 ($1), sends $99 to Card Network.
3️⃣ 𝐂𝐚𝐫𝐝 𝐍𝐞𝐭𝐰𝐨𝐫𝐤 (Visa, Mastercard) deducts 𝐒𝐜𝐡𝐞𝐦𝐞 𝐅𝐞𝐞 ($0.50), sends $98.50 to Acquirer.
4️⃣ 𝐀𝐜𝐪𝐮𝐢𝐫𝐢𝐧𝐠 𝐁𝐚𝐧𝐤 (Fiserv, Adyen) deducts 𝐌𝐚𝐫𝐤𝐮𝐩 (~$0.30), sends $98.20 to the Merchant.
Notes:
► Payment Gateways also may take a transaction fee.
► All fee values mentioned here are just for an example. The IC varies between 0.2 – 2.1%, the scheme fee varies between 0.05 – 1.5% and Acquiring markup can vary from $0.02 to 1+%
𝐒𝐢𝐦𝐩𝐥𝐢𝐟𝐢𝐞𝐝 𝐓𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧 𝐅𝐥𝐨𝐰 𝐄𝐱𝐚𝐦𝐩𝐥𝐞:
✔ $100 spent → Merchant receives $98.20.
✔ Total fees ($1.80) split between Issuer, Card Network, and Acquirer.
✔ Fees depend on card type, transaction type, and region.
𝐍𝐞𝐱𝐭 𝐔𝐩 → 𝐀𝐮𝐭𝐡𝐞𝐧𝐭𝐢𝐜𝐚𝐭𝐢𝐨𝐧 & 𝐀𝐮𝐭𝐡𝐨𝐫𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐂𝐚𝐫𝐝 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬
Source: Travel & Payments
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