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Secure and reliable electronic payments and payers
TrustCloud Pay is a qualified solution to carry out the identification and control of the payment during a digital transaction, as well as the generation of evidence related to the previous processes.
Use TrustCloud Pay in combination with your usual payment gateways to identify payment senders, while collecting evidence from other digital assets, such as the electronic signature of contract acceptance.
The client, after paying by credit card, debit card, Apple Pay or Google Pay, for example, may accept the transaction being carried out, signing it electronically, issuing a complete audit trail of the agreement that will be transferred along with all digital assets and electronic evidence to the TrustCloud architecture.
For the client, the process is seamless, fast and simple. For the company, the process minimizes the costs originated from the delay, and risks of non-payment while providing evidence in case of repudiation.
Advantages of TrustCloud Pay
Greater UX and customer
Deliver a superior customer experience by providing the ability to accept a transaction and pay from almost anywhere in the world, on any device, anytime, in compliance with all user identification regulations.
Spend more time growing your business instead of chasing collections.
Avoid inaccuracies caused by manual processes to ensure you receive the correct amount of payment while ensuring the user’s non-fraudulent identity.
How TrustCloud Pay works
With the TrustCloud payments service you can receive the payment at the same time you identify the user and get an electronically signed agreement in one step. This fast and secure process integrates with major payment gateways and offers customers the ability to pay with any credit card, debit card, Apple Pay or Android Pay:
Data Entry (On Boarding)
The customer enters all the data required for payment and contract formation.
The payment platform receives the data and carries out all the necessary procedures for the completion of the transaction.
From the payment platform, the corresponding transaction with the data obtained is created in the selected payment method.
From the corresponding means of payment, the customer is asked by means of a secure form to make the payment.
Once the payment has been completed, the payment method informs the payment platform of the result of the operation, providing the corresponding evidence.
Signing the Contract
From the corresponding signature engine, the contract is shown to the client by means of a secure form so they can sign it.
The corresponding signature engine informs the payment platform of the result of the signature and the evidence thereof. In the case that everything has been correctly completed, the transaction is completed, and the customer is informed of the transaction by means of a signed copy of the contract.
Custody of Evidence
During the whole process, the payment platform sends to TrustCloud all the evidences (of identity, integrity and intention) that are collected from the transaction, and stored in the associated file.
What is an electronic payment?
An electronic payment is a digital transaction between two parties where a money exchange order is carried out. E-payment types include ACH, wire and bank transfers, cards, digital wallets, mobile pay and more. Companies have a variety of ways for paying their bills electronically.
What is an e-payment account?
An e-payment account is a bank account, usually a checking account, which serves primarily for electronic money exchanges with no need of paper. E-cash is a form of electronic payment system, in which a certain amount of money is stored on the customer’s device and made accessible for online transactions, usually small ones.
What is virtual payment system?
Virtual Payment Address, also referred as VPA, is something like an email-ID, which is given to an individual using the Unified Payment Interface (UPI) service to send or receive money. With UPI, fund transfers can be initiated without IFSC code or bank account number.