SAGE PAY
SagePay (Opayo) is a bank transaction processing service for online payments on the website, as well as payments by terminal and phone. In 2020, SagePay became a part of Elavon and US Bank, receiving a new name Opayo. From that moment on, the company began to serve Germany, Spain, South Africa, and the United States, but it still remains the preferred solution for the UK and Ireland, trusted by the largest number of users and stores in the region.
Opayo is a service gateway that can be installed both on the website and on a bank terminal, and can also be used to provide secure payment via phone. This is an omnichannel solution, especially convenient for e-commerce with physical stores, and most importantly, it is not a virtual wallet/merchant account, unlike PayPal, although the service also has such a service. In the usual case, the money will be directly transferred from the customers' bank account to yours, regardless of the bank serving your business.
Opayo supports the highest of data protection standards adopted as part of the international Payment Services Directive (PSD2). This is the regulatory and technical standard (RTS) for strong customer authentication (SCA). According to it, in order to make a payment, at least two of the three identification rules must be met. It must be something that the client knows (his pin or password), that he has (a personal smartphone), and something that only he has - a fingerprint or facial biometrics. Such requirements are necessary to protect buyers and sellers from various types of fraud, but they do not complicate trading. In 90% of cases, the client will not even notice that authorization has taken place, for example, if his smartphone automatically launches FaceID or its equivalent. In other cases, the client will only need to enter a code from an SMS, push, or e-mail. Many systems, such as PayPal, are a bit less demanding, while others, such as Amazon PAY, use authorization on their side, which is not always convenient.
Opayo (SagePay) is a little more difficult to integrate and configure than other payment systems, primarily due to its high data protection requirements. All information that Opayo (SagePay) sends and receives is securely encrypted to avoid interference with the transaction process, such as price changes. At the same time, you get almost unlimited possibilities for customizing the customer process. You can customize the payment pages to your liking on your website and even on your personal brand page on the Opayo (SagePay) website. Additionally, you will be able to customize the design of transaction report emails.
Using Opayo (SagePay) is more profitable than making payments through the APIs of various banks and PayPal. The average transaction fee is 2% and, although you will have to pay a monthly subscription of 25 GBP or more, you will receive convenient tools for monitoring transactions. Moreover, the money will appear in your account no later than one day after payment.
Opayo (SagePay) is an omnichannel solution that allows your customers to pay for purchases in-store, online, via phone, and from their mobile phones. It is one of the most secure and convenient systems in the world that helps you receive payments faster and automate your business. This payment method will definitely be used by your customers from the UK and Ireland, as Opayo is one of the standards for them. If your target audience is from the EU and the US, they may also be comfortable using this payment method.
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