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Credit card migration to Finion Pay: overview

  • Updated

In this article, you will learn how the migration of credit card information to Finion Pay works and what you need to prepare.

Contents

Quick Guide

  1. Request the token migration with your key account manager at least 4 weeks before your migration.
  2. Have your current payment service provider export and encrypt the credit card data.
  3. Send the encrypted export file to us by email.
  4. Start the first credit card payment run once the credit cards are confirmed.

When you need a credit card migration

You need a credit card migration if you charge recurring fees, such as membership fees, to your members' credit cards and are moving to the software from another system. Finion Pay takes over the existing credit card information, so your members do not have to enter their card details again.

The credit card data is exchanged in encrypted form between your current payment service provider and our payment service provider. Neither we nor your studio can see the raw card data. This requires that your current payment service provider can export the data in the required format, so check this with your provider early.

How the migration works

  1. Request the token migration with your key account manager at least 4 weeks before the migration. We then set up a merchant account with our payment service provider. The KYC process must be completed for this.
  2. Request an export of all credit card data from your current payment service provider. The file must be in the required format and encrypted with the public PGP key of our payment service provider.
  3. Send the encrypted export file to us by email. We validate the file and forward it to our payment service provider.
  4. Our payment service provider imports the credit card data and supplies new tokens. Once the tokens are synced into your system, the credit cards in the member accounts are confirmed.
  5. Start the first credit card payment run.

You can find the file format, the PGP key and the email address in the article Migrating credit card details to Finion Pay.

Note: This article was created with the help of artificial intelligence and editorially reviewed.

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