Online payments include a commission, which is an integral part of the functioning of modern financial services. Payment gateway fees provide the opportunity for payment services to invest in security, improving user experience, and other aspects.

One of the main reasons fees exist is to cover the costs associated with processing payments. When a user makes an online purchase, money doesn’t just pass from the buyer to the seller. Several participants are involved in the process, including issuing banks, acquirers, payment gateways, and other financial institutions. Each of them performs its own function and assumes certain risks, which requires corresponding expenses. Payment processing fees help offset these costs and ensure that transactions can be completed securely and on time. Payment gateways can also use these funds to improve the security of online payments.

Types of Processing Fees

Fees can be divided into several main types: transaction fees, maintenance fees, and refund fees.

1. Transaction Fees

This is one of the most common types of commissions. Digital payment services charge a fixed percentage of the amount of each transaction they process. This percentage may vary depending on the type of card, the country of the transaction, and other factors. In some cases, a fixed amount may also be charged for each transaction, for example, 1% of the amount plus 0.10 EUR.

2. Service Fees

In addition to fees for each individual transaction, payment processing services may charge maintanance service fees. This can be a monthly or annual fee that covers infrastructure maintenance, security, and system updates. This fee often includes access to additional features, such as transaction analytics or customer support.

3. Refund Fees

In cases where a customer requests a refund, the payment processor may charge an additional fee to process such a request. This is because the refund process requires additional effort, including request authentication, reverse transaction processing, and other administrative procedures. Most of the time this fee is deducted additionally to the refund amount.

Factors Influencing the Size of the Commission

The main factors that influence the size of the commission include:

– Payment Method.Different payment methods (credit cards, e-wallets, bank transfers, etc.) have different fee levels. Credit card transaction processing fees tend to provide reasonable fee structure, while voucher payments tend to be a more expensive payment type than other methods.

– Transaction Volume. The higher the transaction volume, the lower the fee may be, as some payment services offer discounts for large customers or when reaching a certain volume.

– Risk Level.

A high level of risk associated with a transaction (for example, in cross border transactions or in industries with a high risk of fraud) may result in higher fees. Payment services include additional costs for risk management in the cost of their services.

To reduce the commission for processing transactions through online payment systems, it is important to choose the best options among various services. One of the main tips is to compare the conditions of different platforms, as commissions can vary significantly. Choosing the service that offers the most favorable terms for your type of transaction will help you save on fees. It is also important to consider that some services offer discounts or bonuses for transaction volumes, which can significantly reduce the overall cost.

How the Oropay Payment Service Manages Fees

Oropay Payment Gateway offers a transparent and cost-effective commission management strategy, making it an attractive choice for users. There are no hidden fees in this payment service, ensuring that the client fully understands all costs.

Oropay’s Payment Processing Platform provides users with powerful tools to track and analyze financial data to help manage payment flows more efficiently. Oropay’s online payment platform integrates with various systems and supports a variety of currencies, making it a convenient solution for international businesses. This allows companies to easily manage their cash flow and ensure the sustainable growth of their business.

Additionally, the Oropay payment gateway in Cyprus helps businesses process transactions efficiently. The service automatically applies fixed fees for processing online payments, providing stable and predictable pricing for companies. It also makes it possible to accurately calculate the amount of money that the payment provider must transfer to the company’s account. This simplifies payment processing and allows businesses to focus on other aspects of their operations.

Opening a free account with Oropay online is a quick and easy process if you follow a few simple steps. Oropay is a modern online payment service that offers users convenient and secure tools for managing finances. To open an account online, follow these steps:

First, go to the official Oropay website, click on “Open an Account,” and enter your mobile phone number. After this, you will need to pass a CAPTCHA verification, which will confirm that you are not an automated program and protect the registration process from potential attacks.

Next, to open a business account, you will be asked to provide your valid email address. The email is used to confirm registration and for further communication with you. It is important to provide a valid address, as a confirmation email with important information about your account will be sent to it.

The third step involves choosing the purpose of your registration — a personal account or a business account. After selecting the registration purpose, the fourth step begins, which includes choosing your country of residence and automatic online account verification. At this stage, to open a bank account in Europe, you will need to provide a scan of your passport or another identification document, as well as possibly additional documents depending on the chosen purpose of the account. A Liveness Check will also be conducted to ensure that the person going through the verification process is a real, live person and not a photo, video, mask, or other form of forgery. Verification is necessary to ensure the security of your account and to comply with legal requirements.

The final fifth step is filling out a short questionnaire and setting up your account. You will also be asked to read and agree to the terms of use of the service. After setting up your account, you will see your current account details.

Once all steps are completed, your account will be ready for use. The process of opening an Oropay account online is truly simple and intuitive, allowing users to quickly start enjoying all the benefits of this modern online payment service. If you have any difficulties understanding how to open an Oropay account online, you can contact Oropay support team or seek for the assistance at virtual assistant.

For What Purposes Can You Open an Account with the Oropay Online Payment Service?

The Oropay online payment service offers many options, providing a wide range of financial services to users. Opening an account with Oropay can serve various purposes depending on your needs. Let’s explore the main goals in more detail.

Applying for a VISA Payment Card

One of the popular services available through Oropay is the issuance of a VISA payment card. The card is linked to your account and allows you to control your expenses using available analytical tools. A card issued by Oropay can be especially useful for those who want to protect themselves from overspending or limit their use of funds in certain situations, such as online shopping or travel.

Additionally, Oropay cards can be a convenient tool for parents who want to give their children access to limited financial resources, or for employers who may use such cards to pay bonuses or employee compensation.

Opening a Current Account

For individuals as well as companies, Oropay offers the opportunity to open a current account. Oropay’s business checking account allows you to conduct day-to-day financial transactions, including paying suppliers, receiving payments from customers, and managing company cash flow. This is especially important for businesses, as having a current account helps optimize financial activities and simplifies bookkeeping.

Receiving Salaries

You can also open an account in a European bank online to receive your salary. This method is convenient and safe, ensuring that funds are instantly credited to your account. You can use the funds received to pay for goods and services, transfer money to other accounts, or withdraw cash.

Using Oropay to receive a salary is also convenient for those who work remotely or are freelancers, as the Oropay allows you to receive money quickly and use many other services on demand without the need to visit a bank.

Doing Business

To conduct business, Oropay offers a comprehensive solution that includes not only a current account but also capabilities for accepting and processing payments, as well as managing financial flows. By using an Oropay business account, you can reduce transaction processing costs and minimize the risks associated with monetary transactions.

The service supports various methods of accepting payments, including bank transfers, card payments, and electronic wallets, making it a universal tool for any company, regardless of its size and field of activity. Moreover, thanks to the flexibility and ability to customize services to specific needs, Oropay helps businesses grow and develop by offering solutions that meet modern market requirements.

In recent years, the online payment sector has been rapidly developing, which unfortunately attracts the attention of cybercriminals. Fraud in this area is becoming increasingly sophisticated, and to protect their finances, users and companies must be aware of current trends and methods to combat them. It is worth noting that using the best payment gateway in Cyprus can help avoid the issues listed below.

Key trends

Among the main trends in online payment fraud, we can highlight:  

• Use of stolen cards;  
• Payment reversal fraud;  
• Botnets and automated fraudulent attacks.  

Next, we will examine each trend in more detail and methods for addressing it. Both businesses when connecting payment gateways and buyers should adhere to the recommendations provided.

Trend 1: Use of Stolen Cards

Fraudsters actively exploit stolen credit and debit cards to carry out illicit transactions. This issue is exacerbated by the development of the dark web, where stolen card information can be purchased. To combat this form of fraud, several effective methods are being implemented:

• 3D Secure. This technology provides an additional layer of security for online payments. It requires transaction confirmation through an extra code sent to the cardholder’s phone. This significantly reduces the risk of fraud, as even if the fraudster has stolen card information, they cannot complete the transaction without access to the victim’s phone.
• Two-Factor Authentication (2FA). Another method to enhance security, requiring a second layer of identity verification. This could be a code sent to a mobile device, a biometric factor (such as a fingerprint or facial recognition), or even a physical device like a token. Two-factor authentication greatly complicates life for fraudsters, as a successful attack requires not only stolen card data but also access to the second factor.
• Advanced Fraud Prevention Systems. Utilizing machine learning and big data analysis to detect suspicious transactions in real time. These systems can monitor user behavior and identify anomalies that may indicate fraudulent activities. For example, if the system detects that a card is being used simultaneously in multiple countries, it may flag this as a sign of fraud and block the transaction.

Trend 2: Payment Reversal Fraud

This form of fraud involves fraudsters making purchases with the intention of later disputing the transaction and requesting a refund. This creates serious problems for businesses, leading to financial losses and deteriorating relationships with payment systems. To combat this type of fraud, the following methods are used:

• Implementation of Systems to Track and Manage Refund Requests. Modern systems allow for the automation of the refund processing workflow, enabling quick responses to disputes and gathering evidence to defend against unjustified claims. These systems can also include tools for analyzing and identifying suspicious patterns in refund requests.
• Development and Communication of Clear and Simple Refund Policies. Clear and easily accessible refund policies help reduce the number of unjustified refund requests. When customers are aware that the refund process will be transparent and fair, they are less likely to engage in fraudulent schemes. It is also important to train employees so they can handle refunds efficiently and minimize the potential for fraud.

Trend 3: Botnets and Automated Fraudulent Attacks

With technological advancements, fraudsters increasingly use botnets and automated systems to launch attacks on online platforms. These attacks may include mass attempts to hack accounts, conduct fake transactions, and other forms of fraud. To combat such threats, multi-layered security systems are essential:

• Firewalls and Intrusion Detection Systems (IDS). These technologies help filter traffic and detect suspicious activity. Firewalls block unauthorized network access, while IDS systems analyze traffic for anomalies and can automatically respond to attempted breaches.
• Botnet Mitigation Solutions. These include using specialized software to detect and neutralize botnets and monitoring network traffic to identify signs of attacks.
• Continuous Monitoring of Network Traffic and User Behavior Analysis. This allows for the timely detection of anomalies and prevention of fraudulent activities. Utilizing analytical tools and machine learning technologies helps to identify suspicious activity and block it before it causes harm.
• Regular Software Updates. Keeping software up to date is a critical aspect of fraud protection, as updates often include patches for vulnerabilities that could be exploited by fraudsters. Maintaining the current status of all systems and applications helps minimize attack risks.

Summarizing everything mentioned above, combating online payment fraud requires a comprehensive approach and the use of modern technologies. Implementing multi-layered security systems, two-factor authentication, advanced fraud detection systems, and transparent refund policies significantly reduces risks and protects both businesses and customers.

The Safest Payment Gateway: Oropay

Oropay Spain is one of the most secure payment gateways available on the market today. Oropay e-commerce payment gateway offers a wide range of features that make it an ideal choice for any business aiming to ensure reliability and security in financial transactions.

One of the key features of Oropay Poland is its highest level of data protection. By using advanced data encryption technologies, this online payment gateway for small businesses can assure its clients that all financial operations are conducted under robust protection, minimizing risks of fraud and data breaches. Furthermore, Oropay adheres to all international security standards, including PCI DSS, further emphasizing its commitment to user security.

The business payment gateway from Oropay Germany is also noted for its ease of integration and use. It supports multiple languages and currencies, making it convenient for international companies. Regardless of where your clients are located, they will be able to make payments easily and quickly through Oropay. This service supports various payment methods, including credit and debit cards, electronic wallets, and bank transfers, significantly expanding options for users.

Selecting the right type of payment page integration is a critical aspect for the successful operation of an online business. Whether you manage an online store, a subscription service, or a service platform, the correct payment integration can significantly enhance the user experience and boost conversion rates.

Key Aspects of Payment Systems on a Website

Integrating a payment system into your website is a vital step in creating a convenient and secure mechanism for processing online payments. This involves implementing specialized software that allows users to make payments directly on the website using various payment methods, such as bank cards, electronic wallets, and more.

Here are some key reasons:

• Convenience for Customers: Users can choose their preferred payment method and complete transactions directly on the site without needing to navigate to external resources.
• Increased Trust: Offering international payment systems Poland, if those are available, can enhance customer trust and confidence in the security of their data.
• Higher Conversion Rates: A simple and clear payment process encourages more completed purchases, directly contributing to sales growth.
• Process Automation: Integration automates the payment processing, reducing staff workload and minimizing the risk of errors.

Payments are accepted on the website in Spain using the integration method  the needs and capabilities of the business.

Integration

Entire payment process occurs on the website without redirecting the user to external resources.

Advantages:

• Full control over the user experience
• Higher trust from customers

Disadvantages:

• Requires more complex development
• Additional security measures are needed to protect user data

Redirect Integration

When this method is chosen, the user is redirected to the payment provider’s page to complete the transaction.  electronic payment systems can be flexibly configured based on location and other parameters.
Advantages:

• Simplicity of integration
• High security due to the use of the payment provider’s secure servers

Disadvantages:

• Possible user  due to redirection to external resources
• Less control over the user experience

Frame or Widget Integration

The payment form is embedded directly on the website using Frame or widgets.
Advantages:

• The user remains on the website while the payment process is handled by the payment provider

Disadvantages:

• Limited customization options for the payment form

Integration

Interaction with the payment system occurs through an API, allowing flexible customization of the payment process and its integration into various parts of the website. Integrating a payment acceptance service in France through 
Advantages:

• High flexibility and deep customization options
• Control over the user interface

Disadvantages:

• Significant development and maintenance efforts required
• Need to ensure a high level of data security

The choice of integration type depends on several factors, including budget, the technical capabilities of the team, the required security level, and the user experience. It is crucial to evaluate all these aspects to select the optimal option that ensures convenience and security for customers while enhancing business process efficiency.

How to Integrate a Payment System on a Website

The first step is to consider suitable payment services Germany and select the appropriate ones. This requires considering several factors: the popularity and reliability of the system, transaction fees, supported currencies and payment methods, and the availability of necessary tools for analysis and reporting. Among popular solutions is the Oropay payment system Cyprus.

After choosing a payment system for the website, it is necessary to and a account. This includes providing company information, contact details, and financial information. At this stage, you may also need to confirm the legality of the business and its compliance with the requirements of the chosen system.
The next step is to set up and integrate the payment system API on the website. The API provides a set of tools and protocols for the website to interact with the payment system’s server.

API integration includes setting up keys and tokens for authorization, configuring webhooks to receive notifications about payment statuses, and creating the necessary forms and buttons for payments on the website. At this stage, it is important to ensure the security of data transmission using encryption protocols such as HTTPS and fraud protection methods.

After the technical integration, it is necessary to test the payment system. This allows you to identify and fix potential errors and issues before launching the system in a real environment. Testing includes verifying various payment scenarios, checking the correct processing of errors and refunds, and evaluating the speed and stability of the system.

The Oropay Visa virtual debit card is a modern and convenient financial management tool that offers numerous advantages. With remote access and no geographical restrictions, you can receive payments, transfer funds, pay for services, and conduct business with maximum flexibility.

Advantages of the Oropay Visa Card

First and foremost, the virtual VISA card stands out for its accessibility and ease of use in Cyprus or anywhere else. Unlike traditional plastic cards, to open a VISA card online, there is no need to wait for delivery by mail – it is activated immediately after applying through the mobile app. This is especially convenient for those who value their time and strive for efficiency in financial operations.

Security is another significant aspect of the virtual VISA debit card. Since it has no physical form, it cannot be lost or stolen. The card data is stored in a secure environment, and modern authentication methods such as one-time passwords and two-factor authentication are used to verify transactions.

Convenience in online shopping is an important advantage of the card for clients from Poland or other EU countries. The Oropay virtual card is ideal for use on the internet, for example, in Spain, as only the card number, expiration date, and CVV code are needed to make purchases. Users can register the card on various online services, subscribe to paid services, or shop in online stores without needing to enter physical card details. This simplifies the payment process and makes it more flexible and adaptable to the customer’s needs.

The virtual debit card allows you to easily track your expenses through the app online in Germany, receive notifications for each transaction, and set spending limits. This enables effective budget control and prevents unwanted expenses. Moreover, the virtual card can be used as a tool for allocating funds for specific purposes, such as online shopping or business trips, helping to better organize personal finances.

How to Open a Card

To order a virtual VISA card online, the first thing you need to do is verify your phone number and email address. This is a basic step that ensures your contact information is up to date and that you can receive notifications about the status of your application and further actions. For this, you will need to enter your phone number and email address in the appropriate fields on the Oropay website or app for France. You will then receive an SMS with a confirmation code and an email with a confirmation link. Enter the code from the SMS and follow the link in the email to verify your information.

Next, to be able to order a VISA card for example, in Italy, you need to verify your information. This process is aimed at ensuring security and preventing fraud. You will need to upload a photo of your passport and other requested documents depending on the type of your account. The Oropay website or app provides instructions for uploading scans or photos of these documents. Make sure the images are clear and readable to avoid delays in processing your application.

Then you need to fill out a quick and simple questionnaire. This questionnaire requests basic information about you:

• Your full name;
• Date of birth;
• Residential address and other necessary details.

This helps Oropay better understand your needs and provide you with appropriate services. Please provide accurate and up-to-date information to avoid potential issues in the future.

After completing the questionnaire and providing all necessary documents, you will need to wait for approval. Typically, this process takes no more than a couple of hours, but in some cases, it may take longer if additional checks are required. You will receive notification of the decision via email or SMS.

Once your application is approved, you will be able to order the virtual VISA debit card and start enjoying all its benefits immediately. You will receive the card details that can be used for online purchases and other transactions.

Therefore, to order a VISA card, you will need to follow a few simple steps and spend some time ensuring you adhere to all recommendations and requirements for providing accurate information. This convenient tool will allow you to enjoy all the benefits of modern cashless transactions with maximum security.

The Oropay VISA Debit Card is a reliable, convenient, and secure tool for managing your finances. With Oropay VISA card, you can make purchases, pay bills or withdraw cash anywhere in the world where VISA cards are accepted.

Convenience of Use

The modern pace of life requires maximum flexibility and convenience in managing finances. VISA Debit cards provide all the necessary tools for confident control over your funds. The main advantage is flexible access to your own funds. A virtual VISA Debit card is a convenient alternative to traditional payment cards. It allows you to pay for goods and services online without linking your main plastic card for payment, making it more convenient and secure to manage your finances. 

Online banking and mobile application for account management allow you to stay informed about all transactions in real time. You can easily track expenses, check balances, make transfers, and much more, right from your smartphone or computer.

Apply for an Oropay VISA Debit card online today and experience the simplicity and convenience of managing your finances anywhere in the world.

Security and Protection

Security and protection of the Oropay VISA Debit Card are fundamental principles of our company. Your funds are protected by a reliable anti-fraud system and Verified by Visa 3D Secure code for online payments. 

One of the key features is the ability to block the card in case of loss or theft. If you discover a lost card or suspicious activity, you can instantly block it through the application or by contacting customer support. This will prevent any unauthorized transactions and protect your account from unauthorized access. 

Transaction alerts are another important tool for monitoring activity on your card. We provide instant notifications of every transaction made with your card. This allows you to conveniently monitor all card operations and take timely action to prevent them.

Additionally, your internet banking is secured with reliable two-factor authentication and data encryption. All of this together forms a dependable barrier, safeguarding your finances from any potential threats. 

We prioritize security to ensure that you can confidently order an Oropay VISA Debit card.

Low Fees and Additional Services

Today, every cent counts, and choosing the right debit card is a key factor. Thanks to the array of benefits, more and more users are deciding to order the Oropay VISA Debit card. This card is a reliable tool with minimal commissions and a wide range of additional services designed to ensure your financial well-being.

• Low service fees. The virtual debit card online ensures minimal service fees, meaning that the majority of your funds remain with you. This allows you to manage your finances efficiently without worrying about high commission charges.
• Online transactions without additional expenses. One of the key advantages of using the Oropay VISA debit card is the ability to conduct online transactions without additional expenses. This means that you can make purchases at online stores, pay bills, book hotels, knowing that you won’t be paying extra for card usage.
• Additional services. The Oropay debit card has unlimited possibilities. The card also provides additional services, including fund transfers and bill payments. This means that you can easily and conveniently transfer funds to friends and family or pay bills for services without needing to use additional services.

By ordering the Oropay VISA debit card, you receive not only a tool for managing your finances but also a partner committed to providing you with maximum comfort and minimal expenses. With the Oropay debit card, you can be confident that your financial life is under reliable protection.

In the world of freelancing, flexibility and convenience in managing finances are not just a nice bonus, but an integral and essential part of successful operations. A modern and multifunctional bank account for freelancers is a guarantee of quick access to finances and, consequently, more efficient management of their money.

Oropay offers a specially designed current account in an International Bank Account Number (IBAN) format, which is ideal for freelancers, providing convenience and efficiency in tracking income and expenses. In this article, we will explore how to quickly open an account and what advantages it offers.

Features of the current account for freelancers from Oropay

One of the key features of the IBAN current account from Oropay is its adaptability to diverse working conditions. Whether it’s receiving payments from clients from different countries, working through various payment systems, or using different currencies – the service’s account allows you to easily manage your finances, regardless of circumstances.

Oropay provides access to a wide range of payment systems, allowing freelancers to choose the most convenient and advantageous options for both receiving payment for their work and withdrawing their money. For example, the virtual IBAN provides access to fast SEPA payments across Europe, through the SWIFT system we can transfer funds in euros to a financial institution in any other country, and having the Oropay VISA payment card allows free purchases in stores or online, as well as cash withdrawals at ATMs. Additionally, you can instantly top up your Oropay account with a payment card from any bank.

For successful business management, it is important to have clear accounting of all income and expenses. The IBAN current account from Oropay provides a convenient tool for maintaining such records. You can easily track incoming funds as well as make expenditures, making your financial process more transparent and efficient.

The flexible online current account from Oropay is the ideal solution for freelancers who value convenience, flexibility, and efficiency in managing their finances. Regardless of where you work and which payment systems you use, with our account, you will always be one step ahead in managing your business.

Benefits of Using Oropay IBAN Account for Freelancers

The first and perhaps most significant advantage of the Oropay IBAN account for freelancers is the minimization of fees for international transfers and payment cards. Transfers between Oropay IBAN accounts, as well as incoming SEPA payments, are free, allowing freelancers to use an individual online account while retaining the majority of their earnings, avoiding high fees that banks and payment systems may charge for traditional transfer methods. As a result, freelancers can open an IBAN account in Europe and receive honorariums  from various regions.

Furthermore, Oropay IBAN accounts ensure fast and convenient receipt of payments from clients. By using the IBAN , freelancers can receive payments on the same day, directly into their account, without waiting for lengthy bank transactions or delays associated with checks or other forms of payment. Moreover, for freelancers/self-employed individuals whose businesses are related to providing online services, Oropay can offer the option of accepting card payments via pay-by-link. Security and reliability are important aspects for clients, and Oropay IBAN accounts provide a high level of data and financial transaction protection, allowing freelancers to work with confidence that their money and personal information are securely protected.

Overall, opening an Oropay current account can provide an efficient and convenient solution for managing finances. It helps minimize fees, speeds up the payment process, and ensures a high level of security, making it an attractive choice for freelancers in today’s global economy. By using these tools and resources, freelancers can effectively manage their finances, increase productivity, and achieve their financial goals. The reliable Oropay IBAN current account becomes a trustworthy partner on the path to financial independence and success in the freelance world.

Payment systems and services for online stores play a key role in ensuring safe and efficient online transactions in e-commerce. Understanding the basic stages of their operation helps both buyers and store owners to make and accept payments without unnecessary difficulties. In this article, we will examine how the payment system works on a website and highlight its key features.

Primary Payment Methods

In the world of modern financial operations, there are numerous payment methods that provide convenience and security for both individuals and businesses. The main methods include:

• Credit and debit cards;
• Alternative payment systems;
• Bank transfers;

Credit and debit cards are among the most common payment methods, playing an important role in transferring financial information between customers and payment systems. They are being used for instant transactions both in land-based stores and online.

Bank transfers is a traditional method of sending funds from one bank account to another. Depending on the destination of the transfer, the process may take several days and involve fees, but it remains one of the most reliable methods for funds transferring. At the same time, in Europe, the Payment Services Directive (PSD2) has revolutionized the field of bank payments, allowing users of online banking accounts to initiate payments and receive their bank statements seamlessly through software developed by authorized third parties (PISP and AISP).

Among other popular payment methods such alternative payment methods can be highlighted – electronic wallets, checks, vouchers, QR payments, SMS, and others. Each of these methods has its own featuresand is applicable depending on the specific needs and preferences of users.

Operation of Payment Gateways

Before choosing a gateway, it is recommended to understand how payments are made in online stores. The payment process begins when the buyer selects products or services in the online store and proceeds to checkout. When the buyer enters their payment card details or other payment information, this information is transmitted through a secure connection to the payment gateway. Then, the payment system encrypts this data to prevent theft or unauthorized access, and forwards it to the bank that issued the buyer’s card.

The bank verifies the data and approves or declines the transaction based on the availability of sufficient funds and other security factors. After that, the bank sends information about the transaction result back through the payment provider to the online store and the buyer eventually. If the transaction is approved, the online store can complete the order and provide the buyer with access to the purchased goods or services. Now you know how payment through the payment system works, which will allow you to select a suitable gateway and ensure profitable operation more accurately.

Risks and Security Measures

The use of a payment system in an online store is associated with a number of risks. Some of the most common types of risks during online payments include:

• Fraud: Online stores may encounter fraud when perpetrators use stolen credit cards or other methods to make purchases.
• Data security breach: Hackers may attempt to breach the store’s system to gain access to customers’ personal information, such as credit card numbers, which can lead to data theft.
• Technical failures: Technical issues, such as payment processing failures or glitches in payment gateways, can result in order processing delays or even customer loss.

To protect against the risks mentioned above, it is important for internet stores to follow some basic security rules:

• Use SSL encryption to protect personal information during data transmission over the internet.
• Implement multi-factor authentication to confirm the customer’s identity when making payments.
• Maintain up-to-date software and conduct regular security audits to detect and address vulnerabilities.
• Regularly monitor transactions to detect suspicious activity and promptly respond to potential security threats.

An important aspect of payment gateway operation is ensuring security and data protection. They use encryption and other protection methods to prevent the leakage of confidential payment information. For card payments, international payment systems (like Visa and Mastercard) and the PCI DSS standard define the level of protection required for transactions.

Payment Gateway Operation Process using Oropay

If you are unsure which payment system to choose for your online store, consider Oropay. The popular payment provider Oropay offers comfortable and efficient methods for transaction processing, as well as quick service setup and integration. The technical interaction process of the OROPAY payment provider and the online store looks as follows:

1. Payment acceptance on the website begins when the customer selects products or services in the online store and proceeds to make a purchase. When the customer is ready to make a payment, the online store generates a payment request.
2. The generated payment request is sent to the Oropay payment gateway. It contains all the necessary payment data, such as the amount, currency, and information about chosen payment method.
3. The Oropay payment system receives the request and starts the process of verifying and processing the payment, which also involves the issuing bank and the international payment system under which the card is issued. At this step, payment data is analyzed for authenticity, as well as checked for the availability of sufficient funds in the customer’s account or other financial restrictions.
4. After verification, the payment provider sends the processing result back to the online store. If the payment is successful, the customer receives confirmation of the successful transaction. Otherwise, if the payment fails for any reason, the customer is also informed of the unsuccessful operation.

As a result of the efficient operation process of the Oropay payment gateway, customers and online stores are able to carry out transactions online with a high degree of safety and efficiency. This ensures a secure and streamlined experience for all parties involved in the transaction.

Declined payments and abandoned carts are the last thing you as an online business owner want to see when reading your sales reports. Although there might be reasons beyond your control, like incorrect card details entered or insufficient funds on the payer’s bank account, there is something you can do about it.

Oropay’s smart routing technology can make a big difference in how many transactions are successful on your website. For example, if you’re expanding your business into other countries, you should consider different currencies, payment methods, card types, etc. This is especially important if you only rely on one payment provider that may lead to complete suspension of your business in case of technical glitches on its side. Thanks to smart routing, every payment will be directed to the right channel, so your international customers will be able to make payments smoothly.

What is Smart Routing?

Smart routing technology ensures that when your customer is paying for something on your website, the payment goes through seamlessly. The technology directs transactions through the pathway that will be most likely to authorize them. It reviews unsuccessful transactions, and redirects them to an alternative channel, using a method called cascading. This helps significantly decrease cart abandonment rate due to unsuccessful payments, thus increasing conversion rate and revenue.

Smoother Transactions Result in Higher Revenue

As Ruslans Jefimovs, the Head of Acquiring at Oropay, explains: “One notable example of the effectiveness of smart routing comes from the experience of our client who faced difficulties with payment conversion in specific regions. Through their current payment provider only 70% of transactions on their website were successful. However, thanks to integrating the Oropay payment gateway, the conversion rate increased to 85%. This significant

improvement underscores the importance of employing alternative payment solutions tailored to specific regions’ needs.”

Thanks to data insights and our access to multiple providers, Oropay can identify the best service providers for specific regions and route transactions to the one offering optimal fee. Moreover, routing international transactions to local acquirers makes it possible to eliminate cross-border and currency conversion fees.

More Payment Methods Result in More Sales

According to our experience, another reason for low payment conversion rates in certain regions is the lack of suitable payment methods. For instance, in some countries traditional banking cards may not be widely used, making it challenging for customers to complete transactions. In such cases, offering alternative payment methods becomes crucial. By diversifying payment options beyond traditional cards, businesses can cater to a broader audience.

Ruslans Jefimovs gives an example: “A European-based client receiving a significant portion of their income from Brazil noted that only 50% of payments from there were successful. A substantial portion, about 20%, failed due to issues with the issuing banks. In such scenarios, integrating Oropay’s alternative payment methods tailored to the region’s preferences can be highly beneficial. In countries like Brazil, where people rely more on e-wallets and e-voucher payments, Oropay can bridge the gap and improve payment conversion rates significantly.”

Easy gateway integration for quick launch

· Web solutions – use a payment page that is created for in-browser payments on devices like desktop, laptop, tablet, mobile and others.

· App solutions – integrate payment options for your app using Oropay’s mobile software development kit (SDK) and enjoy all the features of payment page and even more.

· Pay By Link – create a secured payment link and receive transactions from your customers using any distribution channel, e.g. emails, SMS, invoices and others.

To sum up, improving payment conversion rates in different regions requires a strategic approach that addresses regional preferences and challenges. Payment solutions like Oropay offer the option to use smart routing, providing a customizable and efficient way to optimize payment processes, improve conversion rates, and unlock new opportunities for businesses in diverse international markets. To get more information on how your business could benefit from our services, book a call with one of our experts.

Are you tired of hassle that comes with receiving rent payments for your apartment, guest house or villa? Pay by Link feature by Oropay might just be the solution you’ve been looking for. Let’s say you manage several apartments that you promote across various platforms such as social media, travel websites, or booking portals. Every new customer requires your attention and consumes your time, as you need to send him a wire transfer request to secure the rent. This often results in a time-consuming cycle, laden with administrative burdens and potential delays.

We have asked our Head of Acquiring, Ruslans Jefimovs, to comment on it: “That’s when Oropay Pay by Link comes in. This feature not only streamlines purchases on your website but also allows you to engage with your customers through their preferred channels — whether that’s email, social media or direct links via messenger app. Since communication via text messages is more personal and the transaction – easier, customers are more inclined to check out.”

Let’s have a closer look on how it works.

1. Personalized Check Out Page

All you need to do is generate a link in the Oropay back office that takes customers directly to a secure checkout page to complete their purchase with just a few clicks. Furthermore, you can design the checkout page in your brand colours and according to your brand guidelines, add apartment pictures, include additional information, and send it as a link directly to the client’s email, via a messaging app, SMS or any other way convenient for you. The significant advantage of this payment method is the absence of the need for parties to exchange their banking details, as the payment is processed just like in an online store – the buyer simply enters the number and other basic credentials of his payment card.

2. Manage Your Payments in Back Office

Many landlords enjoy following their financial flow in a dashboard, gaining insights into their rent payment status, payment history, and monthly turnover. This way, they easily keep track of their finances and feel confident about their rental arrangements. As Ruslans explains, once the payment link has been generated, you get access to the transactional data and can manage and track it in one centralized space – the back office of Oropay system. With a few clicks, you get a comprehensive overview of your rental income, making it easy to monitor and reconcile the payments, so that you can focus on what matters most – your property and your guests.

3. Reasonable Costs for Accepting Payments

No one likes transactional costs that are eating into your rental income. Oropay understands the importance of maximizing your revenue. With the fair and transparent costs for payment processing, you can rest assured that a significant portion of your hard-earned money stays where it belongs – on your account. Therefore, you will get personalized, reasonable pricing that will be based on your turnover, experience, and background chargeback data. Feel free to receive our price offer by completing our application form.

4. Your One-Stop Financial Solution

Oropay is a good choice if along with your rental payment processing, you want to get access to a secure banking platform, which allows you to make quick and secure SEPA and SWIFT payments in various currencies. Additionally, you get access to Oropay’s issued VISA cards – both plastic and virtual VISA cards for your online and in-store purchases. This is the way to benefit from the convenience of managing your finances and payments in an easy-to-use financial app.

Ruslans takes a closer look at some Oropay pay by link solution benefits that should not be missed:

• No Integration Needed for a Website: You don’t need to be a tech guy to enjoy the benefits of Oropay Pay by Link on your website – no integration is needed. All you need to do is just sign up, and you’re ready to go. You will be able to generate your personalized link to request payments for your rental property.
• International Coverage: Recognizing the importance for the hospitality industry to accept payments from the guests worldwide, we will make sure you have access to the global payment processing services. Therefore, no matter which country your customers come from, your payments will be processed smoothly.
• Secured Transactions: Oropay ensures the security of your financial transactions through its trusted partners, providing peace of mind for both tenants and landlords.

From its user-friendly back office to the convenience of generating payment links, Oropay service is designed with your needs in mind. Experience the freedom of simplified financial management and increase the speed of receiving your rental payments!