OKPAY is a trusted online payment service provider that has been in the market for a while. They are quite popular and widely used by those who routinely execute money transfers in US Dollars between banks and popular payment platforms. The competition among online merchants is very tough, and providing good quality products alone cannot help a business to survive. Customers can be very demanding, and one of the reasons they purchase online is, they can pay online and get whatever they need delivered at their doorstep. This is why the right payment solution that is reliable and convenient to your clients is crucial to successful sales.
So why opt for OKPAY?
Well, to be honest, an average merchant is not always looking for that many features when choosing a payment gateway. You basically need to have your payments processed fast, secure, and CHEAP. Compared to other providers in the same range, OKPAY really seems to be keeping their fees on the low side. And they DO have a whole lot of additional features which they offer FOR FREE which can’t help but gain them even more sympathy.
OKPAY also have a flexible security system. Most other payment services do not offer a lot of anonymity to the users. However, OKPAY is different in that regard as it allows the users to remain anonymous as long as they are doing transactions of $300 or less. But when it comes to larger amounts, they take you through a scrutinous verification process to make sure you’re a real person. That can seem annoying for some, but an undeniable advantage for a seller.
More than that, OKPAY works as a real gateway thanks to an integrated service called OKchanger. It helps convert your OKPAY balance to almost any other currency and vice versa, which means your customers can pay and you can accept payments in all these currencies too. This is one unique feature of OKPAY that has already been celebrated by some major merchants across the web.
To paraphrase Winston Churchill, OKPAY has all the virtues one can admire and none of the vices one might dislike. Some of the advantages of OKPAY that are worth mentioning are as follows:
1. Low Fees – OKPAY has one of the lowest fees on the market (account top-up from 0%, internal transfers from 0.5%, and withdrawals from just 1%). Such a fee structure makes OKPAY the ideal payment gateway choice for small and medium scale businesses. If you are someone who owns an e-commerce business, or if you are someone who operates a small business that also offers an online payment option, you will benefit from the low fees charged by OKPAY.
2. Payout/Payroll Solutions – OK, this is a feature that is very interesting but probably not as well-known. Do you have employees working under you? Do you need to manage their monthly salaries? The mass pay solutions offered by OKPAY can be very beneficent to your business.
OKPAY provides flexible payroll services that improve payroll management for employers of small, medium, or large businesses. Payouts with OKPAY can be a convenient way to accrue wages to your employees via an automated process. Online businesses working with affiliates, vendors and freelancers or requiring mass payouts for salaries and travel expenses can easily send mass payments globally with OKPAY Payout Solutions.
3. Subscription Billing Service – This will definitely make life easier for you. If many of your customers order the same products month after month, it’s likely they are not very comfortable having to manually send payments for these products each time. Instead, they’d prefer it being done automatically. This is what OKPAY’s subscription billing service is about.
It helps you accepting pre-scheduled payments from your customers. Once a customer subscribes to the payment service, a fixed amount is automatically deducted from their account every month. You get your money, and your customers also enjoy a hassle-free payment alternative.
4. Global Service – OKPAY is a global online payment service provider, and it supports customers from all around the world. 21 major fiat currencies are supported, hence you will be able to cater to the needs of customers from many countries with one payment solution. And the integrated OKchanger monitor gives you and your clients an easy access to vast range of electronic currencies as well.
5. Multi-lingual service – OKPAY is available in more than 10 languages, and the company also offers support in 3 languages (English, Spanish, Russian). This is a big advantage for those who usually serve multilingual customers or operate their websites in more than a single language.
Apart from the benefits mentioned above, OKPAY also offers other features that make it pretty attractive.
You really can’t help but admire their approach to security. They provide advanced and enhanced protection of account access (by 2-step authentication, e-mail, mobile phone, and even IP-address). Not only can you be assured that no one else can access your account, but your customers’ information remains safe as well. Moreover, you get to work with verified users, which notably reduces chances of a chargeback.
Other features for merchants include:
- A lot of e-currencies are accepted, among them payment services which are popular in specific regions (e.g. MoneyPolo, YandexMoney)
- Convenient solutions for specific business tasks (mass payments, multiple wallets for one account, etc.)
- Easy Account Top-Up – It allows you to fund your account with bank wires, money transfers and practically all e-currencies via their integrated e-currency exchange service
- Flexible Boundless Payouts: Send payouts in any currency to users all around the world;
- Pay via Email: If the recipient doesn’t have account with OKPAY yet, they will be able to receive the transfer and sign up for OKPAY later
- Flexible Withdrawals: Your earned money can be withdrawn directly to a bank account, via an OKPAY-issued card or various supported e-currencies, etc.
- Mass payouts: It can be used to easily send mass payments to multiple OKPAY clients with a single click (with an Excel Sheet) or to any group of recipients through API
- Payments Tracking: all payments are stored in yoru account history for future reference.
A Few Negative Points
OKPAY is very particular about account verification and they might ask you to provide ID proof and other documents to verify your identity. Because of the money laundering laws they have to make sure that their customers are not involved in any suspicious transactions, and sometimes they seem to be going to far with that. So you won’t avoid the bureaucracy even in the online world.
Overall, OKPAY looks like a great online payment service provider which can meet the needs of all kinds of businesses, whether big or small. It is convenient and definitely very secure, and even considering their minor drawbacks, they are easily beaten by the costs of their service and choice of features.