When a user adds a payment card to their profile, that information is stored by a PCI certified company. In the case of Clumeo, the payment card information is stored by Bambora.
In other words, a digital wallet (E-wallet) is created for each user.
When a payment is made, the user approves the transaction, and the amount is withdrawn from the payment card.
The funds will then be transferred to the club after 48 hours.
The name Pay4it will appear on the user’s bank statement. Pay4it is a part-owner of Clumeo, and is one of the leading companies in Denmark regarding cashless payments. Pay4it is approved by the Ministry of Finance to store money in the digital wallet and process payments for third-parties.