Commerce: PSD2 compliance and more

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The latest comes with a new platform layer overhead the payment and payout gateways. We centralised the common e-commerce functionality and services for e-commerce and fintech customers. It is a fundamental architectural restructuring that simplifies and standardises your payment infrastructure's interaction and operation in Primary e-commerce services are now taken care of within the Commerce layer, making integration and interaction a much easier and leaner process.

Now, every Commerce Account has its own Commerce Private API that opens parts of backend data and application functionality within that commerce account. The Commerce Public API allows external services to access every Commerce Account. Those new APIs were introduced to satisfy the requirements for the Account Information Service (AIS) and Payment Initiation Service (PIS) elements of the EU's revised Payment Services Directive (PSD2). If you're among our fintech customers, you don't need to worry about compliance with those legislative requirements.

To support various projects or business entities, you can create as many Commerce Accounts as you require within one account. When it comes to running multiple online businesses, you can now manage them all in one place. For our fintech and marketplace customers, this means an ability to create accounts for their merchants. This new functionality also allows online businesses to apply commission fees for all incoming and outgoing transactions separately for every Commerce Account. For example, Uber and Fiverr take a 20% commission rate, while Freelancer charges 10% per transaction. Transaction fees are usually the main revenue stream of any payment processor. also allows for quick processing of accounting information behind the scenes due to the Ledger feature that supports all new Commerce functionality.

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