The Problem

JFW, a rapidly growing renewable energy company specialising in domestic solar panel installations, was facing significant challenges securing a payment processing solution. As a small business classified within a high-risk industry, particularly due to the large size of their transactions, they encountered several roadblocks:

• High-Risk Industry Classification: Many payment service providers (PSPs) were unwilling to offer services to a high-risk industry.
• High-Value Transactions: With large average transactions, JFW needed a secure, flexible and efficient payment system that could accommodate customers’ needs.
• Payment Delays: Bank transfers, taking more than three business days to clear, were creating cash flow problems and delaying the start of installation work.
• Security Requirements: JFW required a payment system with 3D Secure (3DS) to reduce risks and ensure that customers could input payment details securely without relying on phone payments or lengthy bank transfers.

The Search

After contacting multiple payment processors, JFW was unable to find a suitable provider to cater to their high-risk classification and large-value transactions. They were forced to accept payments exclusively through cash and bank transfers, which resulted in:

• Increased Cash Handling Risks: Carrying large sums of cash posed security risks.
• Delayed Payment Confirmations: The time to confirm payments before starting installations was significantly delayed, which negatively impacted cash flow.
• Pressure on Working Capital: The delays in receiving funds hindered the company’s ability to operate efficiently.

The client needed a secure, automated solution with quicker processing times and to reduce the time burden on their teams. The ideal solution would deliver cost savings and have excellent customer support.

Solutions

Splink provided a comprehensive solution to meet the client's payment processing challenges. Here’s how Splink addressed the key issues:

• Card Processing Setup: Splink offered JFW an initial card processing solution, allowing them to accept credit and debit card payments. This was a major improvement over the previous reliance on cash and bank transfers.
• Payment Links - 3DS-Secured: Splink introduced the use of personalised payment link requests and 3D Secure (3DS) technology to ensure secure transactions. Payment links were sent directly to customers to complete payments through secure channels, reducing the need for higher risk and cost phone payments.
• Embedding Payment Links in Quotes: By embedding payment links directly into customer quote emails, JFW streamlined the payment process. Customers were able to self-serve, making payments directly from the link. This reduced administrative workload, saving the team significant time previously spent chasing payments.
• Virtual Terminal for Phone Payments: If customers preferred to make payments over the phone, the client used Splink's virtual terminal feature, ensuring all bases were covered for customer preferences while maintaining payment security.