Payments company Paysera has stopped charging for bank transfers collected through its payment initiation service (PIS) in the Baltic states. The change takes effect together with the launch of Checkout Modern, a new payment platform now open to all of the company’s merchants in Lithuania, Latvia, and Estonia – according to Finextra.
More than 10,000 merchants across the Baltics use the Paysera Checkout payment collection service. In total, the service operates in 42 countries and covers over 13,000 active payment projects, though free bank transfers are, for now, available only in the three Baltic states.
Until now, online retail payments have been dominated by two pricing models: a percentage fee on card transactions or a flat fee per bank transfer. On the new platform, Paysera is dropping the latter.
Justina Šidlauskienė – CEO of Paysera Lithuania explained: „Here’s the thing – on our platform, 2 out of 3 purchases are paid by bank transfer, not card. Meanwhile, the market price of payment initiation has dropped to just a few cents. Charging separately for it stopped making sense – for us and for merchants.”
Se added: „So on our recently launched Checkout Modern platform, bank transfers collected via payment initiation are now FREE for all Paysera merchants in Lithuania, Latvia and Estonia who make the switch. Card rates stay unchanged. For merchants collecting hundreds or thousands of transfers a month, the savings add up quickly.
Checkout Modern also brings everything into one payment window – bank transfers, Visa & Mastercard, Apple Pay, Google Pay, and buy now, pay later with Inbank – plus a new Split feature for marketplaces. Switching takes minutes: install the new plugin, activate a project, done. Cards remain important. But they shouldn’t be the only payment method a business can afford.„
To switch to Checkout Modern, a merchant simply needs to install the new Paysera plugin on their e-shop platform and create a new payment project in the self-service portal. Once the plugin is installed and the project activated, the new system starts working immediately.
Bulgaria’s UBB bank has already been connected to the new platform, and integrations with a further eight banks in Romania and Bulgaria are in development – the company plans to expand into these markets.
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