We wish to inform you of an important upcoming change to your payment processing services provided by Payrix (formerly known as IntegraPay).
As of Saturday, 1 October 2022, all Wise-Pay accounts will be moved to Global Payments Integrated (GPI) for future processing, where the current integration with Payix will be phased out by Saturday, 31 December 2022.
Why is Wise-Pay switching payment providers?
Following the acquisition of Payrix by WorldPay, the US IntegraPay / Payrix / WorldPay from FIS conglomerate was quickly orphaned from the rest of Payrix, therefore providing increasingly limited in-country support.
While services in the US have remained operational following their acquisition by Payrix (and later WorldPay), a growing need to migrate to the US Payrix platform became apparent in order to minimize the impact of increasing interchange costs as well as the inevitable requirement for increased security. This, together with the long-standing need to extend our platform to other regions like Canada for instance, Wise-Sync engaged in a process to review alternative providers.
This process presented an opportunity to look for suitable providers able to deliver extended capabilities while at the same time facilitating an expansive reach into new markets. As the main outcome of this thorough review, we selected GPI as our global partner for merchant services.
What does this mean for my merchant services provided by Payrix?
After an extensive review, GPI was selected as Wise-Pay's global merchant services provider. Following a successful pilot release in March 2022, with an all-new Wise-Pay boarded onto GPI, the integration has now moved from pilot to general release and as a result, all existing accounts will subsequently commence migration from 1 October 2022.
We expect the migration of all accounts from Payrix to GPI for completion by the end of 2022, with the Payrix platform decommissioned by early 2023.
As part of this migration, all services provided by Payrix will be replaced by GPI. To facilitate this, Wise-Sync continues to work with GPI to ensure all payment data is securely transferred across; conducive to a seamless transition to this new provider.
Can I expect any changes to the operation of Wise-Pay?
No, there are no changes to the way you use Wise-Pay or how payments function. There will however be some noticeable changes in the reporting portal and those account features are now available through GPI while all other features such as ‘Gross Settlement’ and ‘Blended Rates’ for example, will remain the same.
What are the benefits of moving to GPI?
There are several benefits of making the switch to GPI, and all of these are provided at no additional cost to your business. GPI users can benefit from:
- Next-day funding for both Credit Card and ACH: Settled funds are available in your bank account sooner.
- Improved handling for pre-payments: This also includes new pre-payment flows uniquely built for GPI merchants.
- A US-backed company: With US-based support and resources available for your greater ease.
Will my processing rates change?
Wise-Sync works closely with GPI to maintain the current rates. While the underlying costs of interchange have risen considerably since March 2022, we’ve worked with GPI to minimize the fluctuation of rates across the portfolio.
We do recognise that some accounts are currently not commercial and may need a rate review due to higher proportions of high cost (Tier 5) or international cards; it is our goal for all accounts to remain at the same rates as provided by Payrix.
All general account-keeping fees will remain the same. For most merchant accounts, rates will remain the same. Should a rate review be required, our team will communicate this with you at the time of your account activation with GPI.
Will it cost me any money to move to GPI?
Migration of services from Payrix will be performed at no charge to you. The migration will remain free until the completion of the migration program which is expected to be completed by the end of 2022. After this time, a fee for migration will be charged, and Payrix will be decommissioned as a payment provider in early 2023.
What if I want to stay with Payrix for processing?
Wise-Pay will no longer be able to provide integration to Payrix from 1 April 2023 (or sooner when partner migration is completed). Once migration is completed, the integration between Wise-Pay and Payrix will cease to operate.
Will I need to do anything to make the switch?
Other than signing a new merchant agreement (to be provided by GPI) and notifying Payrix to release your data to GPI; data will simply be moved and you'll be notified when this migration is complete. Existing payment methods saved with Payrix will be migrated and payment methods will continue to be available in Wise-Pay once migrated.
It’s a straightforward process with simple steps to easily follow:
Confirm acceptance to migrate to Global Payments for Merchant Services: Our Customer Success team will then confirm your position during the migration; this ensures your position in the order of migration between providers. Once migrated, this will unlock extended features such as next-day settlement.
Sign DocuSign Merchant Services Agreement (with Global Payments Integrated): A new merchant services agreement with GPI will need to be entered into. Once executed, GPI will confirm activation keys for entry into Wise-Pay.
Confirm with Payrix that you authorize the release of your payment data to Global Payments Integrated: And you’re done!
As soon as your account is activated, the migration of data will commence. This migration process can take up to several weeks, so we highly recommend that you please confirm your acceptance as soon as possible.
Of course, we’re always here to help make this transition as easy as possible. For any assistance or queries, please don't hesitate to reach out to our support team via email or your in-app help options.