PaySquare acquisition Frequently Asked Questions
General Questions Questions on Contracts, Terms, Prices and Cancellation Question about Charges, Payments and Reports Questions Regarding your (Virtual) Payment Terminal & SupportGeneral Questions
- Why does PaySquare sell its Belgian merchant portfolio?
In November 2015 Worldline and Equens announced their merger. Both are transaction processors that accept electronic payments and guarantee the deposit of funds to merchants. The EU Commission approved this merger on the condition that Worldline would repel the Belgian activities of PaySquare (subsidiary of Equens), so Worldline would not become too dominant on the Belgian market.
This implies that Worldline (from the moment the Belgian PaySquare portfolio was transferred to BNP Paribas Fortis) may not enter into a contract with a former PaySquare merchant for a period of five years.
More info: read the full press release here
- Who is BNP Paribas Fortis?
As the largest bank in Belgium, we support more than 3.6 million customers: individuals, families, youth, self-employed, professionals and entrepreneurs. We help them with their financial management and guide their projects.
More info: go to our website for enterprises and public institutions or the general website of BNP Paribas Fortis.
- Why has BNP Paribas Fortis chosen to join forces with SIX Payment Services?
BNP Paribas Fortis provides its customer merchants a competitive offer for fixed, mobile & portable payment terminals, e-commerce, electronic Bancontact payments and international debit & credit cards. They do this in collaboration with SIX Payment Services. SIX Payment Services is the first company in addition to Worldline, which has obtained an acquiring license for Bancontact. In addition, SIX Payment Services offers the card schemes for debit and credit cards including Visa, MasterCard, V-Pay, Maestro, JCB, CUP, Diners/Discover and American Express.
SIX Payment Services is the market leader for ‘acquiring’ in Switzerland, Austria and Luxembourg, and has a strong position in other European countries. SIX Payment Services handles all back-office services such as installation & maintenance of payment terminals, billing and the call center. BNP Paribas Fortis provides commercial pricing of both terminals, Bancontact transactions and international debit & credit cards. As an agent of SIX Payment Services, BNP Paribas Fortis will also settle the contract with the customer.
Questions on Contracts, Terms, Prices and Cancellation
- Should I sign a new contract? With BNP Paribas Fortis or SIX Payment Services? Or with both?
No, you do not need to sign a new contract. The General Conditions and the contract of SIX Payment Services are automatically applied at the time of the technical (= contractual) migration to the SIX Payment Services platform. This migration is planned to be performed between September and October 2017 and you will be informed by letter regarding your exact date of migration. All other terms agreed with PaySquare (like e.g. the transaction fees) are preserved.
[+ link naar de nieuwe SIX Alg. Voorw.]
- What are the main changes in the General Terms & Conditions?
- A contractual relationship between you and SIX Payment Services from the technical migration on (no longer with PaySquare).
- A SIX Payment Services contract under Belgian law. The PaySquare contracts are made under Dutch law.
- The payout of your transactions (minus the agreed commission) will be done by SIX Payment Services.
- Payout on Day + 1 for all your transactions, including e-commerce transactions. Today PaySquare pays physical payments out on Day + 2 or 3 and e-commerce payments on Day + 5.
- There are no longer costs charged for chargebacks or cancellation of transactions, but the transaction tickets must be retained for 36 months after the transaction date. PaySquare did not charge extra administrative costs (except with a high chargeback ratio) but does charge merchants the Visa & Mastercard costs (resp. 16 and 18 euros per chargeback).
- If you wish to terminate your contract after the technical migration to SIX Payment Services, a notice period of one month should be taken into account.
- Do my rates stay the same?
Yes, your current tariffs remain as they are.
- Will CVV continue to handle my Maestro and VPay?
SIX Payment Services will only take over the processing of the cards for which you signed a contract with PaySquare. Your contract with other companies (device supplier, CCV Pay, American express, suppliers of meal vouchers...) continues as normal.
- I wish to migrate on another date than the one you have announced. What to do?
The technical migration does not change anything about the way you perform a transaction. If you do want to change your migration date, please contact your usual Relationship Manager or Cash Management Officer, or send an e-mail to Acquiring.Corporate.Banking@bnpparibasfortis.com to take further steps. Our colleagues will propose other possibilities to you. Due to practical reasons, no changes will be accepted in the week prior to the original migration date.
- I did not receive the date of the migration. Is this normal?
The migration to the SIX Payment Services platform is scheduled in various waves between September and October 2017. At least three weeks before the migration, you will receive a letter informing you of the migration date as well as your affiliation number. If you have not received this letter by the end of August 2017, please contact your usual Relationship Manager or Cash Management Officer, or send an e-mail to Acquiring.Corporate.Banking@bnpparibasfortis.com.
- I do not want to migrate to SIX Payment Services. What should I do?
We regret that you do not want to complete the migration to SIX Payment Services. Please contact your usual Relationship Manager or Cash Management Officer, or send an e-mail to Acquiring.Corporate.Banking@bnpparibasfortis.com to take further steps.
- How can I cancel my current contract with PaySquare? What notice period do I need to respect?
Please contact your usual Relationship Manager or Cash Management Officer, or send an e-mail to Acquiring.Corporate.Banking@bnpparibasfortis.com. You will receive further instructions from them.
- Is there a minimal contract duration with SIX Payment Services?
No, the contract will run for an unlimited duration (unless otherwise agreed at the time). In case of a termination of the contract (by recorded delivery!), you have to take a one month's notice period into account. For more information we would like to refer you to article 17.3 in the General Terms & Conditions of SIX Payment Services.
[+ link naar SIX GTC’s toevoegen (artikel 17.3)]
Question about Charges, Payments and Reports
- Must I pay a migration and/or activation fee?
There will be no such costs invoiced in the frame of this migration. - Should I open an account with BNP Paribas Fortis?
It is not mandatory. We continue to do payouts on your current account. However, we recommend you do open an account with BNP Paribas Fortis, so that we can serve your financial needs better. Please contact your usual Relationship Manager or Cash Management Officer, or send an e-mail to Acquiring.Corporate.Banking@bnpparibasfortis.com, after which we will further investigate this possibility with you. - How can I change my bank account?
- Before the technical migration (between April and August) :
- Via this link you can fill in the change document and send it to PaySquare:
- Fill in this document (Section 1, paragraph 8, sign) and send it directly to PaySquare. They will carry out the adjustment.
- After the migration :
- At least three weeks before the migration, you will receive a second letter with more details about the technical migration itself. In the same period you will also be approached by a Cash Management Officer of BNP Paribas Fortis. He or she remains your point of contact after the migration, and will answer all your questions.
- Important: between the receiving of the second letter and the actual technical migration, a ‘freeze’ period will take into effect. All the requested adjustments will only be implemented after the technical migration has been completed.
- Before the technical migration (between April and August) :
- How fast will my payments be deposited after the migration?
Both Bancontact transactions as other debit & credit card transactions are deposited the next business day (around 2 pm) onto the merchant's account. It is required that a minimum turnover of 50 EUR has been reached for depositing the funds the next day onto the merchants bank account. SIX Payment Services will wait a maximum of 14 days to reach this minimum of 50 EUR, before depositing an amount which is lower than 50 EUR. - How will I be paid?
You will be paid as contractually agreed upon with PaySquare: per terminal, per store, etc. The agreements which have been made with PaySquare are left unchanged unless you ask for an adjustment. Before the technical migration, you need to address this request to PaySquare. After the technical migration, please contact SIX Payment Services for a request of this nature. - What do payment descriptions of SIX Payment Services look like?
Here you can find some examples. There is no distinction between the notifications for French-speaking and Dutch-Speaking clients.- Netto uitbetaling (bruto – commissie), alle kaarttypes gecumuleerd:
Comm.: ALL / 294.70/NR.0040070088/KOM. 0.80/DAT.04.01.2017/Merchant name/Merchant location
Comm.: ALL / gross amount/your membership number/deducted commission/Date of the transaction/ Merchant name/Merchant location - Bruto uitbetaling (bruto + aanrekening commissie achteraf), alle kaarttypes gecumuleerd:
Comm.: ALL / 4062.75/NR.0040087424/KOM. 0.00/DAT.04.01.2017/Merchant name/Merchant location
Comm.: ALL / gross amount/your membership number/deducted commission/Date of the transaction/ Merchant name/Merchant location - Netto uitbetaling (bruto – commissie) opgesplitst per type kaart :
Comm.: CUP / 4.25/NR.0020074307/KOM. 0.25/DAT.02.01.2017/Merchant name/Merchant location
Comm.: MAES / 84.40/NR.0020074271/KOM. 1.26/DAT.02.01.2017/Merchant name/Merchant location
Comm.: ECAMC / 493.00/NR.0020074178/KOM. 2.28/DAT.02.01.2017/Merchant name/Merchant location
Comm.: VPAY / 493.00/NR.0020074178/KOM. 2.28/DAT.02.01.2017/Merchant name/Merchant location
Comm.: VISA / 2054.42/NR.0020074143/KOM. 9.01/DAT.02.01.2017/Merchant name/Merchant location
Comm.: Scheme /gross amount/your membership number/deducted commission/Date of the transaction/ Merchant name/ Merchant location
- Netto uitbetaling (bruto – commissie), alle kaarttypes gecumuleerd:
- Do I receive an overview of the registered payments after the migration? Do I receive it online as well?
Yes, you will receive an email with a detailed and comprehensive report every day. In this email you will find all transactions, revenue and cost per card scheme.
Moreover, you can also access the online portal 'myPayments' using a personal username and password. This is a platform of SIX Payment Services in which you can see all your transactions, graphs upon request, create CSV files.... On this platform, you will also find your daily reports. The registration procedure to obtain a user name and password will be communicated in a second letter, which you will receive three weeks before the actual technical migration. For all questions regarding ‘myPayments’, please contact the helpdesk of SIX Payment Services.- Per telephone : 02/588.54.81
- Per e-mail : bnpparibasfortis@six-payment-services.com
Questions Regarding your (Virtual) Payment Terminal & Support
- Can I keep my current payment terminal?
Yes, you can keep your current payment terminal. The contract with your current terminal provider does not change in any way. However, if you are not satisfied with your current device, other devices can be proposed by BNP Paribas Fortis at (very) competitive prices. Your Relationship Manager will gladly look at the different possibilities with you.
- Can I retain my current e-commerce PSP (Payment Service Provider)?
Yes, that is possible. The contract with your current PSP does not change in any way.
- Who do I call in case of problems with payment cards, deposits or reports?
- Before the technical migration, you should contact the support & helpdesk of PaySquare:
- Per telephone: 02/700.68.48
- Per e-mail : service@be.paysquare.eu
- After the technical migration, you should contact the support & helpdesk of SIX Payment Services:
- Per telephone: 02/588.54.81
- Per e-mail : bnpparibasfortis@six-payment-services.com
- Before the technical migration, you should contact the support & helpdesk of PaySquare:
- Who should I contact at BNP Paribas Fortis or at its partner SIX Payments Services regarding my questions about payments, statements...?
After the technical migration, you should contact the support & helpdesk of SIX Payment Services:- Per telephone: 02/588.54.81
- Per e-mail : bnpparibasfortis@six-payment-services.com
- Who do I call for device problems?
- Both before and after the technical migration, you can continue to contact the support & helpdesk of your current terminal provider.
- You can usually find their contact data on a sticker which is found on the terminal itself.
- CCV Belgium : 057/215.215
- Keyware : 0900/70.300
- Paynation : 03/555.95.12
- Worldline : 02/727.88.99
- Can I continue to accept all current card schemes? Bancontact, CC, ELV, Ecocheques, AMEX...
The processing of all the cards schemes, for which you have entered a contract with PaySquare, will continue unaltered.
- Are all the existing functionalities preserved (reference, eID, contactless, DCC…)?
All functionalities are retained automatically on your current terminal.
- What is my reference number with BNP Paribas Fortis and its partner SIX Payment Services? And where can I find it?
At least three weeks before migrating to SIX Payment Services, you will receive a second letter which also communicates your new reference number. Afterwards you will find this number in the payment notice, on the daily reports that you will receive by e-mail and on the merchant platform 'myPayments'.
