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Envoy Services Ltd
• Envoy Services Ltd (Envoy) is a UK incorporated payment technology and service provider
• Envoy provides services to both online and offline companies requiring localised and low cost bill collection and payment execution on a cross-border basis
• Envoy is registered with HM Revenue and Customs in the UK as a Money Service Business (MSB)
• The business provides payment services to a range of sectors and counts FTSE 250
companies among its Merchants
What do we do?
• Single point of access for local banking services around the world
• Focus:
– Bank to bank transfers and local proprietary banking products
– Automation and validation to minimise payment fixing and manual processes
– Advanced merchant interfaces and reporting
How does it work?
Merchant View
Merchant View (drill down)
Who uses Envoy?
• Retailers• Collect funds locally• Reduce chance of fraud• Offer localised familiar banking services• Cap banking charges• Reach more Customers
• Businesses / Corporates• Improve cash flow• Decrease banking costs• Decrease operational costs• Auto FX
• Individuals• Efficient use of banking systems to effect safe and secure
transfers
• Regulated in the UK
• Considerable experience in dealing with bank-specific internet payment methods
• Utilises the latest technologies and keeps abreast of developments
• Secure, reliable payment platform
• Working directly with banks to improve efficiency
• Operating in over 190 countries
• Working towards Faster Payments (UK) and Payment Institution (EU) Regulation 2009 – 2010
Why Envoy?
Envoy’s Banking Partners
• Due Diligence performed on all Clients • MLRO role established • AML training and procedures • Money Service Business under HM Customs and Excise • Advisors on European Commission –”New Legal Framework for Payments”
Compliance
• Simple integration • Highly secure, professionally hosted, redundant, scalable platform • Full end-to-end implementation available • Configurable general ledger • Multi-currency with foreign exchange capability • Client administration tools and reporting • Automated billing and operational processes
Technology
• Premier payment service provider to corporate clients
• Low cost but high volume and high quality offering
• Global focus
• Development of new bank-specific (non card) payment products
• Ongoing commitment to secure, resilient and scalable technologies
• Providing optimal support and reporting to merchants
Corporate Aims
Retail Purchase Flow Presentation
• Customer goes to the online store and chooses goods.
• At the checkout process the customer is presented with payment options including local bank transfer options or local bank payment methods such as Ideal (which is a popular local payment method in the Netherlands).
• For this example we show only local bank transfer and Ideal.
• If the Customer clicks on Fast Bank Transfer they are shown the relevant banks in each country. They are advised a reference number to quote at their bank when they make the transfer.
• The Customer goes to their bank and initiates a transaction to Envoy’s bank account quoting the appropriate reference. OR
• If there is a real time service available they will probably choose that (in this case we show Ideal in the Netherlands).
• The customer makes their Ideal transfer
• The bank transfer transaction appears in the Merchant’s Admin account
• Or, if it is a local payment option the transaction details advise it is a local payment option
• The Merchant then provides the goods or service knowing they have received cleared funds.
• Payments to Customers from local banks in their country
• Faster payments
• Cheaper payments
• No landing charges
• Payments made in currency
• Single or batch payments
• Flexible file formats
PayoutsEnvoy also offers a payout service – direct to a Customers bank account
to 190 countries around the world.
Real times currently availableSpain - Linea Abierta - La Caixa bank. Estonia – Hanspank – BankLinkPoland – Przelewy 24Russia - MonetaAustralia - PoliGermany - SofortuberweisungAustria - SofortuberweisungHungary - AbaqoosNetherlands – IdealNordea. Coming online within Q1 - 2009:UK - PoliSth Africa – PoliBelgium MisterCashDenmark – ewireNorway – BankAxessCzech Republic - eBankaEPS – AustriaItaly – Bank Pass
In addition, we should have the following bank accounts opened and available in the next 4 – 6 weeks:
Iceland – Kaupthing BankMexico – NOW OPENBosnia – Unicredit BankGermany – Commerzbank & Deutsche PostRomania – Raiffeisen BankIreland – AIBCyprus – FBMESouth Africa – FNB & Nedbank Hungary – Unicredit BankBrazil – BoletosUnited States- National City Bank/PNC Bank, Key Bank
Status update and future plans as of Jan 2009