PaySafe Review

flag Market-leading risk and fraud protection
  • Seamless, safe and secure payments

  • Custom-made for your business model

  • Accept all the ways your customers pay

  • Send it, spend it, or store it – safely & securely

Pros & Cons

  • User-friendly interface
  • Diverse payment options for all sized businesses
  • Prompt customer service
  • Efficient chargebacks management feature
  • Compatibility Problems which may lead to the necessity for manual reconciliation
  • Customer Support on technical issues may be slower than anticipated

Plans & Pricing

In contrast to many of its competitors, PaySafe does not offer open pricing structures. Rather, it develops customized quotes depending on various factors. Although this approach might pose a challenge for smaller businesses, it could be advantageous for larger enterprises, offering potentially competitive rates tailored to their specific needs.

As PaySafe operates on a quote-based system, your final cost will likely depend on the services required, your monthly transaction volume, the average value of individual transactions, among other factors.

PaySafe claims to provide “exceptionally competitive processing rates” on its website. Nevertheless, the lack of transparent pricing makes it difficult to ascertain whether PaySafe will be a cost-effective solution for your business upfront.

PaySafe
Custom

Overview

PaySafe is a leading merchant service provider, offering seamless and secure payment solutions ideal for various businesses, including e-commerce startups, small to medium-sized companies, and high-risk merchants. The platform allows accepting diverse payment methods such as credit, debit, and electronic payments. Along with secure data handling, PaySafe offers additional services like payment tracking and invoice collection, catering to the needs of modern businesses aiming for growth and customer satisfaction

Rating

  • "Price"
    7 /10
  • "Features"
    9 /10
  • "Ease of USe"
    9 /10
  • "Help and Support"
    8 /10

Features and Functionality

Comprehensive Payment Solutions

Paysafe offers a wide range of payment solutions tailored to meet the needs of businesses across various industries. They provide traditional payment methods such as credit and debit cards, as well as alternative payment options like digital wallets and prepaid cards. This comprehensive approach ensures that businesses can offer their customers diverse payment options and enhance their overall payment experience.

Robust Security Measures

Security is a top priority for Paysafe. They employ advanced fraud prevention tools and technologies to safeguard transactions and protect sensitive customer information. Paysafe’s security measures help businesses mitigate the risk of fraud and ensure the safety of their payment processes, enhancing trust and confidence among both businesses and customers.

Global Reach

With a presence in over 40 countries and support for more than 120 currencies, Paysafe offers a truly global payment solution. This allows businesses to expand their operations internationally and cater to customers around the world. Paysafe’s global reach facilitates seamless cross-border transactions and enables businesses to tap into new markets without significant hurdles.

Seamless Integration

Paysafe provides merchants with easy-to-integrate payment solutions. They offer a range of APIs, SDKs, and plugins that allow businesses to integrate Paysafe’s payment functionalities into their websites, applications, or point-of-sale systems smoothly. This simplifies the implementation process and reduces the time and effort required to start accepting payments.

Advanced Analytics and Reporting

Paysafe offers robust analytics and reporting tools that provide businesses with valuable insights into their payment data. Merchants can access comprehensive transaction data, analyze customer behavior, and gain actionable intelligence to optimize their payment processes and make informed business decisions. Paysafe’s analytics capabilities enable businesses to identify trends, spot opportunities, and enhance their overall payment strategy.

These features collectively make Paysafe a trusted and reliable payment solution provider, empowering businesses to streamline their payment operations, expand their reach, and provide secure and convenient payment experiences to their customers.

Hardware Requirements

The specific hardware requirements for using Paysafe may vary depending on the specific product or service you are referring to. However, these are some general guidelines regarding the hardware requirements for common Paysafe solutions:

Point-of-Sale (POS) Systems

If you are using Paysafe’s POS systems, such as their card readers or terminals, the hardware requirements typically involve having a compatible device with the necessary connectivity options. This could include a computer, tablet, or smartphone with features like USB, Bluetooth, or NFC capabilities, depending on the specific POS device you are using.

Online Payment Integration

For integrating Paysafe’s online payment solutions into your website or online platform, the hardware requirements are typically minimal. You would need a computer or server capable of hosting your website or application and meeting the software requirements specified by Paysafe.

Mobile Applications

If you are developing a mobile application that utilizes Paysafe’s payment services, the hardware requirements would depend on the platform you are targeting (e.g., iOS or Android). You would need a device capable of running the respective mobile operating system and meeting the development environment requirements for building mobile apps.

It’s important to note that Paysafe primarily operates through software interfaces, and the hardware requirements are generally associated with the devices used to interface with their services, such as POS devices or development environments. To get precise hardware requirements for a specific Paysafe product or service, it is recommended to consult Paysafe’s official documentation or reach out to their support for the most up-to-date information.

Integrations & Add-ons

Paysafe provides various software integrations and partnerships with third-party apps to enhance payment capabilities and offer a seamless experience to businesses and consumers. While the specific integrations may vary over time, here are some examples of popular and major third-party apps that have integrated with Paysafe:

WooCommerce: WooCommerce is a widely used e-commerce platform built on WordPress. Paysafe offers an integration plugin for WooCommerce, allowing businesses to accept payments using Paysafe’s payment processing services within their online stores.

Shopify: Shopify is a popular e-commerce platform that enables businesses to create and manage online stores. Paysafe has a partnership with Shopify, providing a payment gateway integration for Shopify merchants to accept payments through Paysafe.

Magento: Magento is a robust e-commerce platform used by many businesses to build online stores. Paysafe offers a payment extension for Magento, enabling merchants to integrate Paysafe’s payment processing capabilities into their Magento-based stores.

Salesforce: Salesforce is a customer relationship management (CRM) platform used by businesses for sales, marketing, and customer support. Paysafe has a partnership with Salesforce, offering a payment solution integration that allows businesses to accept payments and manage customer transactions within the Salesforce environment.

QuickBooks: QuickBooks is a popular accounting software used by businesses for managing finances and bookkeeping. Paysafe has an integration with QuickBooks, enabling businesses to synchronize payment data and transaction information between Paysafe and QuickBooks.

These are just a few examples of third-party apps that have integrated with Paysafe’s software solutions. Paysafe continuously expands its partnerships and integrations to cater to the evolving needs of businesses and provide seamless payment experiences across various platforms. For the most up-to-date information on specific integrations, it is recommended to consult Paysafe’s official documentation or contact their support.

Ease of Use

Opening an account and online payments with Paysafe are straightforward, with instant fund transfers. Its mobile app enhances convenience, while the back office is navigable with an extensive data access interface. User experiences vary, with many users finding the interface intuitive.

Customer Support

PaySafe provides support for sales and existing customers, email support, and advises customers with difficulties to contact their account manager.

  • 24/7 Help & Support
    Email assistance for both general account concerns and technical problems, ensuring a response within a 24-hour timeframe.
  • Phone Support
    Available during business hours
  • Email
    Available 24/7 for general and technical issues
  • FAQ
    FAQs, guides, glossary, and e-learning products are available.

Final Word

In summary, Paysafe is a payment platform with some distinctive strengths and weaknesses.

The service offers tailored, quote-based pricing, allowing customers to avoid paying for unnecessary features. This model potentially favors businesses with high monthly transaction volumes, who may be able to negotiate lower rates. However, Paysafe doesn’t sufficiently detail certain features, making it difficult for average merchants to understand the system without direct interaction with a representative.

This ambiguity extends to its pricing, making it challenging for potential users to assess its suitability without a formal quotation. Additionally, some Paysafe payment methods are not available in the U.S., restricting the operations of U.S.-based businesses.

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Mr.
Danielle MacKinlay
author

Danielle MacKinlay is a communication professional with an extensive background in information management, inclusion leadership, and human resources. She has worked as an advisor and manager for over twenty years in both the public and private sectors. She has also been a business owner in the construction and renovation sector and held various positions in client services, including banking, food and beverage, and retail. Danielle is also actively involved in her community and serves as a director on several not-for-profit boards. She enjoys optimizing digital solutions to maximize convenience and productivity for businesses and other organizations.

We make the best effort to present up-to-date information; however, the terms of each offer can be revised according to the service provider’s discretion. The above shall not be considered as an expert or professional advice for any matter.

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