Reepay has been acquired by PSG Equity 🎉

Today is a big day for us. Reepay has been acquired by PSG Equity and now billwerk has become our sister company. The combination of Reepay and billwerk is expected to create a scalable subscription management and payment software product suitable to service businesses of all sizes, ranging from SMBs, SMEs to global enterprise stage companies all over Europe. Read the full article on Business Wire.

It is important for us to tell you that this news is not going to affect either our customers or partners. The entire Reepay team will continue working in Reepay including our founders Ole and Robert. We will also strive to continue to be the agile company that we are today. In a few words, business as usual.

Who is billwerk?

billwerk was founded in 2015 by Dr. Ricco Deutscher and his Co-Founders. With its subscription management platform, billwerk reliably provides a significant part of the digital value chain for recurring business models. 

billwerk employs 67 employees across its headquarters in Frankfurt, Germany, and offices in Minsk, Belarus, and Gdansk, Poland. Its subscription management platform is currently used by several hundred midsize and enterprise customers as well as fast-expanding start-ups across Germany, Switzerland, and France, with a growing presence in other European regions including the Nordics and Benelux.
To learn more about billwerk, visit https://billwerk.io/.

Who is PSG?

PSG is a growth equity firm that partners with middle-market software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams.

Having backed more than 85 companies and facilitated over 325 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, and London. To learn more about PSG, visit www.psgequity.com.

New dashboard and 2FA

As you may know, we are working hard to develop our new dashboard. Today we have taken an important step and made it easy to switch between the old and new dashboard. You can see this option in the bottom left corner.

In addition, we have also made the new dashboard multilingual, which allow you to change the language of the new admin. You can now choose between English, Danish, German, Norwegian, Polish and Romanian.

Finally, we have increased the security of the dashboard with 2-factor authentication at login. 2-factor authentication can be configured under User Settings, which you will find under your user in the upper right corner.

Payment method reference

When creating a charge, recurring or subscription session it is now possible to define a payment_method_reference parameter. The payment method reference is stored on saved payment methods (e.g. card) if the session results in a saved payment method.

The payment method reference is returned in the customer_payment_method_added webhook, allowing to link the webhook to a specific session/order. 

If the payment_method_reference is not defined, the session id will be used as default.

Cheers, Reepay

Google Pay

Reepay now supports Google Pay.

Google Pay offers a frictionless payment experience on Android devices where cards have been added in the Google Pay wallet and a supported browser, e.g. Chrome, is used. Google Pay can be activated in the Reepay Administration and only requires a card acquiring agreement supporting Google Pay (Reepay, Nets, Clearhaus, Swedbank and Bambora).

For details see: https://docs.reepay.com/reference#google-pay

Cheers, Reepay

PSD2 and Strong Customer Authentication

The deadline for PSD2 is approaching, which means Strong Customer Authentication (SCA) will become mandatory within the EU. Danish issuers will require SCA by January 11, 2021. For details on PSD2 and SCA see: https://docs.reepay.com/reference#strong-customer-authentication

Reepay will make sure all accounts are ready for SCA by enabling 3D Secure and/or Secured by Nets on those accounts not already using SCA.

The newest version of 3D Secure (version 2) supports a frictionless authentication flow, where the customer is not presented with any challenges (two-factor authentication). For issuing banks to make a decision on whether a frictionless authentication can be granted, they will need information about the customer and the context of the payment. Some of this data is provided by Reepay, e.g. customer browser information, but some of the data needs to be provided by you the merchant. 

The data is not mandatory, but we urge you to consider sending the additional information to maximize the chance of a frictionless authentication flow. For details on sending SCA data see: https://docs.reepay.com/reference#strong-customer-authentication

Merry Christmas, Reepay

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