Payment Process

How will customers pay for their policy premium?

We support multiple payment integration methods to accommodate different regulatory requirements and partner preferences. The payment method you use depends on your market, regulatory environment, and business model.

Single Payment

Most of our partners operate their own shopping cart, checkout, and payment collection processes. From a customer experience perspective, a single itemized purchase transaction is preferable (for example a travel booking along with the insurance policy).

This is the recommended approach as it offers:

• Simplified customer experience (one transaction)
• Higher payment approval rates
• Reduced payment processing complexity
• Lower transaction fees

Please refer to the Single Payment section below for more information.

Dual Payment

In rare circumstances, Partners and us may agree to operate a dual payment integration approach. This results in two transactions against the same payment method of the user in quick succession:

• The merchant of record for the product/service remains the Partner
• The merchant of record for Insurance remains XCover (Cover Genius)

If this is your preferred integration method, please speak to your Partnerships manager or Client Solutions Engineer.

Please refer to the Dual Payment section below for details on implementing this workflow.

Split Payment

In some circumstances, Partners may choose to integrate split payments (by using an approved payment provider) to split the transaction after payment collection:

• One payment from the customer
• Two merchants (Partner and XCover)
• Two settlements (Partner and XCover)

If this is your preferred integration method, please speak to your Partnerships manager or Client Solutions Engineer.