Description of Svea Payments Services

Svea Payments is a Payment Service Provider (PSP) for webstores. Integrating Svea Payments' services enables webstores to provide online bank payments, card payments, mobile payments, invoice for consumers and companies and part payment for consumers 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 the 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, Payment, Payment Status Query and Retrieve Settlement Reports.

Escrow Payment Services

When Escrow Payment Services is used, an inspection period (at least 14 days recommended, but can be defined by the webstore) is specified. In case of these escrow payments, Svea Payments keeps the buyer's payment funds on specific Customer Assets bank accounts and offers powerful tools for making changes to the order (e.g. product returns) and the resulting refunds to the buyer.

A refund is always made to the payment method that the buyer originally used when making the order. The inspection period starts when the buyer has received the order, either according to our delivery tracking or according to the webstore's notification to Svea Payments. When the inspection period has ended, the order is settled to the webstore.

Escrow payment services can be used in two different ways:

1. Only using the return/refund tools where the webstore can initiate and make changes to orders.

2. Also using the Buyer's Assistant service, which is an online platform where the buyer can make changes to their order, track the delivery etc. This way the buyer is also able to initiate changes to the order.

The webstore can make changes to orders and approve change requests from buyers in the Svea Payments Extranet online service.

In case of escrow payments, the following technical interfaces are available for the webstore: Retrieve Available Payment Methods, Payment, Payment Status Query, Delivery Information Management, Payment refunds and cancellations and Retrieve Settlement Reports.

Making a payment

The buyer chooses Svea Payments when he/she wants to pay for the order. The webstore then sends the order and payment details to Svea Payments using our Payment API. The buyer is then displayed a page where he/she can choose one of the payment methods made available in the webstore.

Choosing payment method already in the webstore

The webstore can display the available payment methods for the buyer in their webstore's checkout page. The webstore must retrieve the available payment methods per order using Retrieve Available Payment Methods API. Also, the Payment API must contain the code of the payment method (pmt_paymentmethod) that the buyer chose in the webstore. When the buyer chooses the payment method on a page displayed by Svea Payments, he/she agrees to the terms and conditions. On the other hand, if the buyer chooses the payment method in a webstore that is using Escrow Payment Services, the webstore must display the aforementioned terms and conditions in the webstore and ensure that the buyer agrees to them.