The Moneycorp Pay-Collect Service
To sign up for The Moneycorp’s Pay-Collect service please initially email us at info@normandyandbrittanylife.com and put “Pay-Collect” in the Subject field.
The Moneycorp Pay–Collect service, an international payment request service -is ideal for your customers wishing to pay for their holiday rentals.
The Moneycorp Pay–Collect service enables corporate organisations (ie. You the gite or business owner) to request and collect payments from your international customers located overseas, quickly and conveniently and with no cost to yourself!
The Moneycorp Pay–Collect service will enable you as the gite owner to send payment requests to your overseas customers who need to make cross border payments for their fees and annual maintenance payments.
So how does The Moneycorp Pay–Collect service work?
A Pay-Collect request is sent by email and will link customers through to an online card payment screen where they will be able to make their payments, settling the transactions with their local currency debit card. The process operates as follows:
1. You the property owner use ‘Pay-Collect’ to initiate a request for payment from their international customers
2. The person wishing to rent completes the online payment request , indicating the payment amount in EUR
3. Email is sent to the customer requesting a payment
4. On receiving the request, the customer is redirected to the ‘Pay-Collect Card Collection’ page
5. The customer enters the currency of the debit card with which they are paying and a live rate of exchange from their local currency into EUR is presented
6. The customer is required to enter their local debit card details and confirm the payment
7. Once funds are received from the customer, these are allocated to your Moneycorp holding account which you manage on-line, known as a Global Payment System (GPS) - you can then manage this account on line and decide how, when and where you wish to pay the incoming funds to. This GPS is like looking at your bank account on line and gives you great flexibility and leave you to move your money between currencies as and when it suits you.
Overview of The Moneycorp Pay–Collect service
• Delivered through the Moneycorp Global Payment System
• Managed through an easy-to-use customer interface
• Enables you, the gite owner, to send requests for payment to its customers via email
• Allows you to attach invoices and/or add specific reference details
• Includes a foreign currency exchange module enabling you to specify the amount of EUR that you want to receive
• Provides both you the owner and the customer/ renter of the gite with an immediate online payment card service
• Includes a foreign currency exchange service providing live competitive rates
• Multiple currencies available via the payment card settlement service
• Provides full reporting capabilities showing the status of pending and successful payment requests
• Receive immediate payment collection notifications
• The service is available in 10 different currencies including all the European ones and US dollars.
Benefits to you the gite owner
Key benefits to you when using The Moneycorp Pay–Collect service include:
• Efficient service: Collect outstanding payments quickly and easily
• Eliminate currency risk: Request the currency you want to receive
• Convenience: A simple, convenient card collection and payment processing service
• Speed: Clients are able to make payments via the platform in 3 easy steps
• Transparency: Automatic email confirmation
• Reduced Costs: Reduce the cost to both you and to your clients for making cross border payments
The costs involved and how The Moneycorp Pay–Collect service differs to PayPal
- There is no charge for you / the company signing up on the service. The end user (your clients/customers) will pay £5 for the transfer but compared to PayPal and other similar systems this is a lot cheaper.
- With regards to PayPal – the main difference is cost. PayPal take a margin of 3% (and that is on same currency transfers, not even foreign exchange!) and more for when a foreign exchange transfer is involved. Altogether Moneycorp's transfer fee is much cheaper (Moneycorp's is £5 and PayPal's is £10). It also allows much more transparent accounting abilities showing the entire history - you the corporate client (business /gite owner) can then makes transfers internationally to beneficiaries from within the GPS system (just as you do with on-line banking), so it’s all under one roof.
- A final real plus point – with PayPal the client (your customer) has to set up an account, whereas with Moneycorp's Pay-Collect they don’t have to have an account – it’s only you, the corporate client, who sets up the account with Moneycorp at the beginning and that's it - sorted!
Data Protection and Security Measures
Listed below are the various methods Moneycorp has taken to ensure maximum security of client information:
Secure Website
The Global Payment System (GPS) which is used to deliver The Moneycorp Pay–Collect service operates from a secure website: https://www.moneycorp-gps.com. This secure connection is an encrypted exchange of information meaning the information cannot be read or tampered with while it is being sent.
‘Phishing’ Prevention
Online phishing is a way to trick computer users into revealing personal or financial information through an email message or website. These usually take the form of an official notice from a trusted source, such as a bank, credit card company or reputable online merchant. The key identifier of a phishing email is that the information contained within it will be generic, usually starting ‘Dear User’ or ‘Dear Client’ and asking the client to fill in all the information.
Through Moneycorp’s GPS system, each time a payment request email is sent to the client, the details input by you are stored in an encrypted table on Moneycorp’s server. As such, the email will be addressed personally to the client with the key information pre-populated on the screen. We will ask this client to verify the details and to contact you directly should they not apply.
Data Storage
The information provided by you is stored as an encrypted file on Moneycorp’s server (e.g. First Name, Surname, Payment Reference, Amount of repayment etc.). This information will be stored for a duration period specified by you, essentially how long you believe the client will take to action the payment. As explained above, by storing this information this significantly reduces the risk of phishing.
The information provided by you is the only information stored by Moneycorp. For clarity, information provided by the client when making the payment request (card details and address) is not stored. Every payment request is treated uniquely, even if a repeat client.
Data Security Compliant
Moneycorp uses the company DataCash (www.datacash.com) as its payment gateway. Both Moneycorp and DataCash are fully PCI DSS (Payment Card Industry Data Security Standard) compliant. The PCI DSS is a set of comprehensive requirements for enhancing payment account data security, created to help payment card organisations prevent credit card fraud through increased controls around data and its exposure.
The client’s card details are transmitted directly to DataCash who verify the identity and validity of the debit card before notifying Moneycorp. This involves matching the CVV number with the address, once the client has completed the ‘Verified by Visa’ or ‘MasterCard Secure’ added protection. If the card is rejected, the client will be informed that he must seek an alternative method of payment. If the payment is authorised, Moneycorp will then perform the relevant currency exchange.
To sign up for The Moneycorp Pay-Collect Service please initially email us at info@normandyandbrittanylife.com and put “Pay-Collect” in the Subject field.