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Product/Service Description

Paybase is the most flexible solution for payments, compliance and risk. Online marketplaces, gig/sharing economy platforms, FinTechs and crypto businesses are all being underserved by current payment providers. This is a result of the rigid and uncompromising infrastructure of legacy payment technology. Up to now, this has prevented businesses from routing payments the way they wish, and from being able to build the products they want with the level of innovation with which they were designed. Whilst some are able to bend their offering to fit current solutions, many are not, causing scores of businesses to fail to reach market. 

Paybase is changing this. Through its structured flexibility and operational agility, Paybase supports businesses with more sophisticated payment requirements. Their end-to-end API solution combines payments, compliance and risk management, equipping businesses with the tools they need to scale with ease and to stand out from the competition.

Customer Overview

Customer Size Medium, SMB
Target Market Europe
Specific geographical coverage United Kingdom

Features

    Paybase’s end-to-end payments solution is designed to help FinTechs, gig/sharing economy platforms and online marketplaces to stand out in today’s heavily-saturated market. Its myriad features enable them to build their products with absolute flexibility and to do so without compromising on their levels of innovation. These features include banking-lite, escrow solutions, routing payments between multiple parties to satisfy specialist use cases, and more.     

     

    Flexible Payments Routing 

    • Complex routing

      • Built with flexibility at its core, the Paybase Platform lets you route payments automatically between multiple parties and instantly receive your own commission. 

    • Event-Driven Transactions

      • Create transaction-initiating triggers as different events occur e.g. a seller account reaching a certain balance triggering a withdrawal.

    • Third-party payouts

      • Instant pay-outs to third parties in your supply chain/business model. 

    • Multiple payment options

    • Accept card payments and real-time bank transfers with Faster Payments.  

     

    Split Payments 

    • Fees extraction

    • Automatically collect customised commission fees based on transaction size, seller, date and more. 
    • Commission splitting

    • Split your commission with influencers, referrers and other parties. 

     

    Flexible Accounts 

    • Merchant & Freelancer Accounts

    • Transfer money instantly and securely with eMoney accounts. Automate or manually control withdrawals to your bank account, and automatically receive your own commission from transactions. Whatever suits you.
    • Supplier Accounts

    • Credit a ‘supplier’ for performing additional services to buyers, sellers and platforms e.g. a gym receiving commission on payments made to personal trainers. 
    • Affiliate accounts

    • Instantly credit affiliate accounts (e.g. influencers on a fashion marketplace platform) when associated transactions are made. 
    • Custom Accounts

    • Create custom ‘Roles’ for your platform based on your business needs.  

     

    Recurring payments

    • Subscription services

    • Create recurring card payments for subscription services. 
    • Schedule Payments

    • Manage and schedule payments/transfers to be automated for specific times. 

     

    Escrow 

    • Full Escrow 

    • A solution that holds funds (both from card payments and bank transfers) while a payment is being made between a buyer and a seller. The escrow transaction is authorised when both parties are happy.
    • Enhanced functionality

    If a platform needs to add conditions to escrow transactions (e.g. a percentage of the sale price being cut if an item is received late), this can be automated with the Paybase solution. We also facilitate automated dispute resolution, removing a platform’s need for high customer support overheads

     

    Banking Lite

    • FinTech Products/User accounts

    • Create user accounts that can be used to store, transfer and withdraw funds. IBANs and sort codes can also be issued to all eMoney accounts, allowing users to receive money from, and pay-out to, third parties with best-in-class UX.

     

    Promotions, Loyalty & Rewards

    • Cashback

    • To improve buyer retention, offer buyers cashback in the form of platform credit or fiat currency that can be withdrawn to their bank account.  
    • Purchase subsidies

    • Offer automatic subsidies on purchases when certain conditions are met e.g. a 10% discount on a buyer’s first purchase.
    • Referrals

    • Offer subsidised transactions for referring users to your platform e.g. offering a 15% discount for a referrer and referee on their next platform transactions. 


     

     

Benefits

    Flexibility embedded into the core of our platform and business

    We created our platform in the knowledge that different businesses have different requirements. Our technology is built in a way that enables us to accommodate myriad possibilities, ensuring that all businesses can create whatever they need without being restricted by payments limitations. Advanced payments routing, escrow functionality, banking-lite functionality and flexible account creation are just some of the ways Paybase can support those that other providers cannot. 

    But this flexibility does not just apply to our technology; structured flexibility runs through all aspects of our business. Our operational agility allows us to accommodate a far deeper variety of business models than any other payment solution available. It is our very ethos that your business should never be blocked by payments or regulation.

     

    Product enhancement preparing you for tomorrow’s challenges (loyalty, engagement, insights in terms of data)

    A solution that facilitates payments between multiple parties is something all platforms require but should be viewed as the starting point, not the finish line. In an increasingly saturated market, the ability to differentiate is becoming of critical importance. Paybase not only solves your payments issues but allows you to stand out from your competition and meet the challenges that inevitably come with growth. 

    These challenges may come in many forms. If you need to re-engage your merchants, for example, you may want to temporarily remove commission fees for those that have not made a sale in the past 3 months. If you need to attract more customers, you may want to introduce a cashback deal for first purchases. Perhaps you wish to change your marketing strategy and create accounts for social media influencers that are rewarded when they direct sales to your site. Using Paybase, all of these features can be set up in a matter of days, meaning that you are always equipped to adapt to market needs. 

     

    Service Obsessed 

    Paybase sets itself apart from competitors through a commitment to being service-obsessed. Too many payments providers prioritise initial simplicity over genuine, long-term support. Paybase appreciates that payments are not always simple, but when well and compliantly executed, they can be pivotal to the success of your business. Our service-obsessed approach ensures that we are not just solving the initial issue of payments, but offering a partnership that helps our clients at every stage of their growth. An example of this would be Paybase’s collaborative community - a supportive hub for platform businesses to share ideas and challenges. Paybase regularly hosts events and workshops to help fast-track success for all community participants.

     

    Financial crime prevention

    By nature, platform businesses face specific financial crime-related challenges that other businesses do not. The concept of connecting buyers and sellers as opposed to offering a product or service means that platforms have less control over sales being made, but still bear responsibility for illegal or untoward activity.  

    A platform which connects owners of camera equipment to those looking to rent, shoulders the risk of rented items being damaged or stolen. A marketplace platform is susceptible to buyer-seller collusion - a form of money-laundering in which ‘buyers’ pay for items that do not exist. Put simply, platform businesses have far more complex ‘buyer-to-seller’ relationships, meaning that they need a more granular approach to financial crime prevention.

    Paybase creates a financial crime prevention framework that fits your business. Our innovation-driven approach to compliance processes allows us to perform Due Diligence on the renters of camera equipment, as opposed to performing Due Diligence on merchants only, as is standard. What’s more, as end users increase their level of activity, their risk increases, and we are able to automatically request further information from them in order to mitigate this risk. As for transaction monitoring, we are able to spot activity which does not fit your platform’s norms in order to identify potential incidents of financial crime, pausing and/or blocking suspicious activity. Crucially, the financial crime rules we provide are set up to reflect what your business requires, and can be added to or adapted over time. Through this approach, your business receives a more thorough and accurate fraud prevention framework than has ever before been possible.

     

Platform & Workflow

Programming Language and API RESTful JSON-based API
SetUp and Installation Options Customised per client
Deployment Period Regular bi-weekly deploys
Reporting Capabilities
We are able to integrate with any device that our clients want to integrate with.

Connectivity, Hosting and Integration

Hosting provider GCP

Support Services

Support Option Online Support, Knowledge Base

Branches

Support Location 1
Country United Kingdom
Address    Work.Life, 5-7 Tanner St, Bermondsey, London SE1 3LE
Phone +44 (0) 020 3909 8560
Email hello@paybase.io
Website https://paybase.io/

Alternatives

Media Coverage (Quick Links)

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