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Dec 9, 2015 8:51 EDT

24Money Payments AB: 24Money makes payments profitable!

iCrowdNewswire - Dec 9, 2015

24Money Payments AB

Your everyday financials one-stop-shop

24Money is a one-stop-shop for your everyday banking related services. 24Money offers consumers, businesses and merchants one of the broadest financial services portfolios on the market today, available online, in your mobile and over the counter in stores at 24Money Agents and 24Money Centers. Through integrating scalable financial and payment services and distribution channels, we can offer our customers attractive and affordable solutions allowing them to shift from one service to another as their needs and finances changes and advances are made in broadband and mobile infrastructure, all while remaining with 24Money. 24Money is not one financial service or product. It is a network of financial services adaptable to the customer.

About 24Money

24Money is a registered payment service provider under the supervision of the Swedish Financial Supervisory Authority (Sw. Finansinspektionen). We offer a range of services including payment and foreign currency accounts, FX spot, over the counter cash services such as bill payment and redemption of payment instruments, currency exchange, money transfer, consumer credits and daily cash management in addition to 24Money Card, a prepaid multi-currency MasterCard, and, under the brand 24Autocash ATM, cash machines. We target consumers and businesses and have a customer base of over 250,000 customers. Our services are available online at 24money.se, in your mobile and over the counter in stores through our affiliated agents, 24Money Agents and 24Money Centers.

In stores, online and in your mobile



The market today lacks access to comprehensive payment services

Access to traditional banking related financial services and distribution channels does not meet the current demand. The shutdown of bank branches and ATMs has resulted in a shortage of cash management services, even though cash payment remains the second largest means of payment in Sweden. The transition from cash to digital payments is driven by the industry and is taking place before the market can handle it. While consumer trust in mobile payments is growing, infrastructure and knowledge with regards to technology remain inadequate. Service providers target specific market segments offering niche services and often only one distribution channel. With the exception of 24Money, there is no other service provider today offering a solution to meet the consumer as well as the retail demand.

With regards to payment services, there is currently no comprehensive solution for merchants. There are payment services directed at e-merchants, yet e-commerce represents some 7% of the retail market. Since most service providers focus on one or a few select services, merchants are forced to procure services from different providers, more often than not resulting in higher and more fees and more complex terms and conditions to consider while making it difficult for businesses to adapt solutions to their needs. The affordable and viable options are too few.

Presenting 24Checkout

24Checkout is a solution for all merchants, whether they operate physical stores or e-stores. The payment service concept, which will be launched Q3 2016, is one of the key cornerstones and the future of 24Money. Taking advantage of 24Money’s diversity, expertise and platforms, we deliver in 24Checkout an affordable and easy, comprehensive payment solution combining services provided by Klarna, iZettle, Svea Ekonomi and the banks in one and the same package.

24Checkout is a subscription service for merchants who operate physical stores as well as e-stores. In addition to payment by card, mobile, bill and cash, 24Checkout includes hardware and software, support, accounting interface login and foreign currency account for merchants who accept payment in multiple currencies. Merchants also have the opportunity to purchase discounted value-adding services such as cash management and e-store platform. The entire package is available to merchants for just a fixed monthly fee plus a percentage fee per payment based on the amount of the transaction. 24Checkout is branded with the 24Money brand. Merchants will feel that they have one provider of the complete payment solution.

Presenting 24Checkout
Presenting 24Checkout

24Checkout makes payments profitable and accessible!

24Checkout comes with substantial benefits for merchants. 24Checkout is an affordable, simple and comprehensive payment service solution. Merchants get one provider of all payment services, including card, mobile, bill, and cash payment, cash register and system and technical support. They get a simple and affordable fee structure that will allow them to improve sales margins and to spend more time on their business. Since 24Checkout is scalable and works for both physical stores and e-stores, merchants can customize the solution to suit their finances and needs as broadband and mobile infrastructure improves and consumers’ preferred method of payment changes.

The platform

24Money includes hardware and software. Subscription means that merchants affiliated with 24Checkout lease their cash register, cash box, receipt printer, PIN-pad and barcode reader. All the technology in order to receive payment is thus in place. In addition to the 24Checkout e-commerce solution, the merchant may also add ATM to their subscription, allowing them to deposit their daily takings and get commissions on withdrawals. It is very easy for the merchant to conduct payments. Because they lease the hardware they never have to worry about keeping their technology up to date. This is managed by 24Money. In 24Checkout Merchant Portal merchants can manage their customers and conducted payments, handle charge-backs as well as view charges and manage authorized users.

24Money manages all card, mobile, and bill payment transactions as well as the entire process from redemption to accounting. In the company’s capacity as system operator, 24Money manages all components of the payment transactions, and provides a well-tested, proprietary system platform.

A complete payment solution
A complete payment solution
Contact Information:

Christopher Clewehielm

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