About Ratepay

General information about Ratepay

Ratepay is a whitelabel online service provider which allows merchants to provide their customers secure and commonly used payment methods. Below are the payment methods that are supported by Ratepay:

• Open Invoice - Open Invoice is a payment method that enables customers to purchase goods or services on credit and pay at a later date. With Open Invoice customers receive an invoice detailing the amount owed, payment terms, and due date.

  When a customer selects Open Invoice during the checkout, Ratepay performs a real-time risk check. The advantage of using Open Invoice is that it can improve cash flow for both the buyer and merchants:

  • For buyers: They can purchase goods or services without having to pay for them immediately, which can be beneficial for managing their finances.
  • For merchants: With Ratepay you profit as a merchant from a full invoice purchase service. You pass on all the invoice data during the order to Ratepay, who takes over the complete billing and debtor management. As merchant you get a payment guarantee.
• SEPA Direct Debit - Ratepay offers classical hire purchase and SEPA direct debit. SEPA Direct Debit is a payment method that allows merchants to collect payments from buyers directly from their bank account via their IBAN, who have granted them permission to do so.

Further information can be found on the webpage of Ratepay (https://www.ratepay.com/en/).

Process flow chart

Ratepay process flow

Get Started

1. To start accepting Ratepay payment methods, first onboard with Ratepay.
2. Once onboarded below information should be provided to you by Ratepay:
   1. Client ID: Username to connect to Ratepay's API
   2. Client Secret: Password to connect to Ratepay's API
   3. Partner Shop ID: The unique identifier assigned to you by Ratepay
3. Reach out to to enable Ratepay as a payment method and provide the above details securely.

interface

Initiate Ratepay payment

Once the customer proceeds to checkout you show a default list of Ratepay payment methods to pay. Once the customer proceeds to pay with Ratepay payment method, your backend need to make a server to server call to the following URL for making a payment request:

Parameters for Ratepay payments

Result parameters for Ratepay payments

Incremental Authorization

This function increases the amount of a previously authorized transaction. You can only increment the original authorized amount by 30% or by €300 whichever is lower. You can only send one incremental authorization request for the original transaction. In order to increase a payment transaction with Ratepay, please use the following URL:

Parameters for increment Ratepay payments

Response parameters for increment Ratepay payments

Capture a Ratepay payment

In order to capture a payment transaction with Ratepay, please use the following URL:

Parameters for capture of a Ratepay payment

Response parameters for capturing a Ratepay payment

Cancel / return of Ratepay payments

In order to cancel a payment transaction with Ratepay, please use the following URL:

Parameters for cancellation / return of a Ratepay payment

Response parameters for cancellation / return of a Ratepay payment

Credit / refund Ratepay payment

In order to refund a payment transaction with Ratepay, please use the following URL:

Parameters for crediting a Ratepay payment

Response parameters for crediting a Ratepay payment

ShoppingBasket parameter explained

The following table describes the individual values within the ShoppingBasket:

Parameters within the shopping basket

[
    {
        "shoppingBasketAmount": 7350,
        "items": [
            {
                "artNr": 37,
                "category": "Electronics",
                "descriptionAddition": "desc 1",
                "discount": -50,
                "name": "High-performance laptop",
                "unitPriceGross": 2500,
                "quantity": 1,
                "taxRate": 0.04,
                "unit": "pcs"
            },
            {
                "artNr": 38,
                "category": "Accessories",
                "descriptionAddition": "desc 1",
                "discount": -50,
                "name": "Wireless gaming mouse",
                "unitPriceGross": 2500,
                "quantity": 2,
                "taxRate": 0.04,
                "unit": "pcs"
            }
        ],
        "vats": [
            {
                "netAmount": 7200,
                "taxAmount": 300,
                "taxRate": 0.04
            }
        ]
    }
]