PaySafe review

BySarah PritzkerOct.18, 2018

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In a Nutshell

Paysafe is revolutionizing the way businesses deal with money every day with its innovative and integrated payment solution. Accepting global payments in 17 currencies, credit cards, debit cards, digital wallets, POS systems, cash cards, installment payments, and more, Paysafe has the payment solution you need to get paid however your customers want to pay.

pros

  • Good for every size and type of business
  • Extensive management tools

cons

  • No pricing information is forthcoming
  • No live chat

Ideal For

  • Online businesses that want to be able to accept payments remotely
  • Businesses and corporations looking to scale up
  • Brick and mortar stores that need a flexible payment solution

What’s on Offer

  • Credit and debit cards, cash cards, etc. in 17 currencies
  • Skrill, Neteller, and other digital wallets
  • Platform services
  • Rapid bank transfers
  • POS
  • Cash cards
  • Installment payments
  • Invoices
  • Customize emails
  • API
  • Receipt generation/management
  • Revenue management
  • Billing automation
  • Currency conversion
  • Payment risk management
  • Report generation

Application Process

There’s no real application process to speak of. You answer a few simple questions including name, business email, and business name, and then wait for a rep to get in touch with you directly.

What’s Unique About Paysafe?

Paysafe is unique in that it works with every type of business and organization. Whether you are a major business platform working to extend your reach into the smart parks and recreation centers around the world, or you have a small online shop that caters to a niche audience, like moms after birth, Paysafe provides flexible, comprehensive, and extensive tools to help businesses expand their reach, maximize their potential, and grow their revenue year over year.

Paysafe’s web-based interface allows users to access the software from anywhere, so you aren’t tied to a specific office or location. In fact, the software is even mobile-friendly, allowing for on-the-go payment processing.

  • Online

Online stores will appreciate the flexibility that Paysafe affords them, giving businesses the chance to accept a wide variety of payment options and stay ahead in this competitive market. Paysafe integrates with some of today’s biggest Ecommerce platforms and shopping carts, including Magento, Shopify, and WooCommerce.

While Paysafe is a valuable tool for businesses of every industry, it tailors its offerings to suit even the most specific niches. For example, businesses in the iGaming industry will appreciate having a platform that is open to Neteller/Skrill payments. This means you can accept more than 100 different payment options without any chargeback issues, and in multiple currencies. So, no matter where your players are paying from and how, Paysafe has you covered.

  • In-store

Paysafe doesn’t stop at Ecommerce. It has several tools to help businesses with their in-store payment processing as well. Paysafe’s Android tablet POS makes accepting payments on the spot a cinch.

What’s more, Paysafe has a sophisticated in-store payment structure that allows users to offer their customers a wealth of options, including installment payments and mobile purchasing. In fact, with a long list of third-party app integrations like Yiftee, Merchant Financing, and OnDeck, businesses can manage other areas of their business, including store management and insights, merchant capital financing, and security and data management directly from their Paysafe platform.

Paysafe takes care of taxes and accounting and delivers detailed reporting, so you keep your finger on the pulse at all times. Finally, Paysafe’s in-store options give you real-time transaction data and deep insights and analytics to help you glean the most data from every transaction. 

  • Security

Additionally, Paysafe goes to great lengths to ensure the highest levels of security for every transaction run through its system. Not only does it comply with local and international privacy laws, but Paysafe takes extra steps to keep users’ sessions safe, including BIN validation, risk rules engines, CVV matching, and tokenization.

  • Reporting

Paysafe also offers convenient reporting tools covering several angles of the business process, including customer management and industry insights.

  • Global acceptance

Paysafe makes accepting payments from anywhere in the world easy. Working with more than 17 different currencies around the globe, Paysafe ensures that you'll never have to turn down a customer for payment incompatibility. What’s more, the simple mobile payments and digital wallet acceptance make it easy for anyone to pay from anywhere and at any time. This is great for all industries including travel, entertainment, and Ecommerce.

Customer Support

Paysafe offers dedicated toll-free numbers specific for Canadian, US, UK, and European customers. Additionally, you can contact a customer service or technical support staff member via email or online contact form.

Paysafe also has a friendly customer support virtual staff member standing by. This digital support staff pops up at the bottom of most pages asking what they can do to help. From Gretchen to Simon and Carla, these faces and on the mark questions make the whole customer support experience a lot more personable and give you the feeling like there’s really someone listening to your questions.

Pricing

Paysafe doesn’t volunteer any pricing information. You have to get in touch directly to be given a tailored quote. In general, though, it offers 2 options: scale-based model or high ticket volume plans. Here’s a sample pricing table to give you an idea of what you might pay with Paysafe:


Scale-based PlanHigh ticket volume plan
Price
15% for low transaction volume3.9% per volume plus a fixed fee of 1.5 euros per transaction
Discount Price
9.5% for higher volumeN/A

So, if you make a few high ticket transactions or a large volume of smaller transactions, it could pay to go with the higher plan; It’ll give you a lower per transaction cost overall. The website itself is highly secure and runs all payments through encrypted channels for maximum security. The one frustrating thing about the Paysafe experience is that you can’t get too much info about pricing before you speak to someone directly.

Bottom Line

Paysafe is a convenient way for you to manage all of your payment transactions via a single comprehensive channel. It offers safe and secure payment options that span the spectrum from cash cards to credit and debit cards, digital wallets, and mobile payments. Paysafe’s varied acceptance policy ensures that businesses with global audiences can accept the type of payments their customers use and the wide range of currencies Paysafe works with does this as well.

The amount of reporting and analytics offered by this company really sets it apart from the competition. With competitive rates (albeit hard to see from the website), online and in-store options, and convenient tools including billing automation and receipt generation and management, Paysafe is an excellent choice for handling all of your payment needs.

About Paysafe

Founded in 2008, Paysafe has created an extensive network of offerings geared towards making payments faster, safer, and more convenient than ever before. From credit card processing to international payment acceptance, from online stores to in-store transactions, from major corporations to small businesses of every industry, Paysafe is helping businesses accept payments with flexibility, convenience, and ease. The additional tools such as reporting, billing, tax analytics, and receipt management just make Paysafe all that much more attractive for businesses.

Physical Address

Queen Victoria House

41-43 Victoria Street

Douglas The Isle of Man, IM1 2LF

UK

PaySafe