MIT (Merchant Initiated Transactions) are payment transactions that are not initiated by the Cardholder, but by the Merchant, after agreement between them. There are several types of MITs, including UCOF and Recurring, which are already marketed. 

Allows the Merchant to initiate the payment, without fixed recurrence. 

Enables payments of fixed or variable amount, without the end customer having to  authenticate after initial authorisation. 

Benefits

Initiate payment

Allows the Merchant to initiate the payment, without fixed recurrence.

Enable payments

Enables payments of fixed or variable amount, without the end customer having to  authenticate after initial authorisation. 

Business model

Transactional commissions/items for authorisation and purchase apply. The 3DS authentication item is only applied in the initial transaction

Integration methods

UCOF will be available on SIBS gateway 2.0 for payments using VISA and Mastercard scheme cards, for: 

• Server-to-Server; 
• Form. 

UCOF (Unscheduled Credential on File) 

An UCOF (Unscheduled Credential on File) transaction does not occur on a fixed or recurring date and may have a variable value. Each MIT can be of a lower, equal or higher amount than the initial transaction made by the customer – the CIT (Cardholder Initiated Transaction). 

Recurring 

Transactions processed at fixed, regular intervals not to exceed one year between Transactions, representing an agreement between a Cardholder and a Merchant to purchase goods or services provided over a period of time.