SafeCharge customers to accept card payments in the U.S. through partnership with Chase

SafeCharge (LON:SCH), a leading payments technology company, today announced a partnership to process payments in the United States through Chase, a global leader in card processing.

Through the partnership, SafeCharge customers will benefit from card processing under domestic conditions. For the consumer, this means a smoother payment experience and a greater likelihood of a transaction being accepted.

Chase serves more than 250,000 merchants and 560,000 locations across the United States. The company processed 16.88bn transactions in 2016 and this, according to Nilson, makes them the third largest acquirer in the US, representing around 20% of the market.

SafeCharge’s proprietary payments platform includes a gateway, a card issuer and acquirer itself meaning it connects directly to all the major card brands including Visa, MasterCard, American Express and China Union Pay. SafeCharge’s global payments platform is available in 4 continents providing cross border businesses diversified acquiring options to choose from in order to optimise their payment acceptance rate.

“The US is one of the biggest markets in the world. The Federal Reserve estimates that US credit and debit card payments were worth almost $6 trillion in 2016.There’s a growing requirement from both consumers and merchants to accommodate cross-border payment acceptance, boosting conversion and enhancing the customer experience,” said David Avgi, CEO, SafeCharge.

SafeCharge partners with Sphonic to provide leading-edge digital KYC and fraud prevention services

SafeCharge (LON:SCH), a leader in advanced payment technologies, has partnered with Sphonic, a data network of leading 3rd party vendors that provides real time authentication and fraud management decisions to a burgeoning digital world, to address industry-wide KYC and fraud prevention challenges. This partnership enables SafeCharge to add complimentary compliance services such as KYC, document verification, PEPS/Sanctions and enhance the company’s propriety, award-winning fraud prevention solution with additional capabilities.

To meet the growing needs of regulated gaming businesses and CFD brokers and to be prepared for a changing regulatory landscape, including PSD2 and the 4th AML Directive, SafeCharge has selected Sphonic’s Workflow Manager (WFM) to provide Know Your Customer (KYC) and document verification capabilities, while reducing customer friction and operational overheads.

Using Sphonic’s connection to multiple leading vendors, SafeCharge will create a vendor agnostic solution that will allow merchants to select and work with their KYC and document verification vendor of choice as well as increase onboarding customer conversion. The service includes:

  • Multi-bureau KYC verification, with intelligent in-flight routing based on pre-defined criteria such as geography, match rate level, commercial viability and more
  • Regulatory AML checks for PEPS/Sanctions
  • Enhanced digital insight including Device ID and Reputation capability, email/phone verification and validation, geo-location and distancing — and a host of others coupled with Sphonic’s unique approach in fusing multiple services to derive greater context

 

A Thomson Reuters 2016 Know Your Customer Survey revealed that ongoing regulatory change is the leading challenge around KYC: 87 percent of banks and 75 percent of investment managers believe regulatory and legislative change is the most influential factor for their KYC processes.

“To meet the needs of ongoing regulatory changes and our growing, diverse client-base, a multi-faceted approach to manage risk was required — and as such flexibility and access to multiple technologies was key to selecting Sphonic,” said David Avgi, CEO, SafeCharge. “SafeCharge continues to stay a step ahead in the digital KYC and fraud prevention space by embedding Sphonic’s technology into our Payments Platform, enabling us to provide comprehensive payments, anti-fraud and compliance services via a single integration.”

“We are excited to be part of SafeCharge’s enhancement of their KYC and fraud prevention services through our innovative WFM platform,” stated Riten Gohil, CEO, Sphonic. “The collaboration gives SafeCharge the ability to create a workflow that will cascade checks between different providers to get optimal results for merchants that are providing KYC for their customers. These customers now have access to our extensive capabilities, global reach and market-leading insights from our team of experts in this space.”

Meet SafeCharge at iFX EXPO International, Spyros Kyprianou Centre, Polemidia, Limassol, May 23-26, 2017 at Booth 9.

STUDY: 76% of merchants experienced at least one complete payments outage within the last year, reveals SafeCharge

A new study commissioned by SafeCharge (LON:SCH), a leader in advanced payment technologies, has revealed that payment outages and downtime are causing frequent disruption to merchants’ bottom line and growth abilities. The research ‘Payments, Interrupted’, conducted by WBR Digital, surveyed 200+ CFO, VP Finance, Payment Managers and Payments Controllers at large multinational retailers across Europe.

The research assesses the current performance and importance of payment services in terms of availability and transparency. It shows that reliability of service, along with the clarity of financial reporting, are major factors for merchants seeking business growth. It argues that payment providers must now demonstrate reliability, as well as their integrity in delivering these services.

Research highlights

  • 76% of merchants in Europe experienced at least one payments outage in the last year
  • 42% of retailers in Europe have experienced six or more partial outages in the last year
  • 39% of outages hit at peak time such as Black Friday, damaging reputation and customer loyalty
  • 73% of respondents reported that payment outages lasted between 15 minutes and one hour
  • 72% of retailers admitted to financial losses ranging from €10,000 – €100,000 per outage, with 11% citing losses of €1m or more
  • 86% of respondents lack access to online reporting functions
  • 64% of respondents would like a more transparent payment reporting
  • More than 60% of respondents do not have access to 24/7 support from a human

Shemer Katz, Chief Marketing Officer at SafeCharge states:

“Every second a merchant’s payments system is down means abandoned baskets, lost revenue and reputational damage. The research clearly shows that a reliable and transparent payments system is crucial to not only a merchant’s bottom line but also customer experience. It’s no surprise that customer confidence within a merchant erodes after experiencing payment friction due to downtime. There is a compelling need to provide new payment processing capabilities which enable optimal uptime and availability. SafeCharge has developed a fully featured proprietary payment platform connected directly to payment card schemes, therefore not depending on third parties, ensuring maximum reliability of its services.

“Another finding that can’t be ignored is the increasing need for financial transparency. 50% of the merchants we spoke to have no real-time access to fees, and 14% are not receiving a clear picture of what they’re being charged by their payment providers. It’s clear from the research that a lot of work needs to be undertaken by payments providers, and that payments processes need to be vastly improved for merchants. Payments has been likened to a black box for far too long and we believe that by giving merchants comprehensive insight into payments costs they will be able to ensure business continuity, improve operations and make better business decisions.”

SafeCharge selected by online travel agency Anywayanyday for payment services

SafeCharge (LON:SCH), a leader in advanced payment technologies, today announced that it has been selected by online travel agent (OTA) Anywayanyday to provide payment services. Anywayanyday was looking to improve transparency and control around its payments, to better combat fraud and improve business efficiency. As part of the collaboration SafeCharge will be providing card acquiring, enhanced back office and financial reporting, improved resilience, with unparalleled availability, and travel-specific fraud protection. The announcement builds on the continued growth of SafeCharge in the travel sector with wins such as El Al Airlines.

The travel industry is increasingly demanding, with the traditional agency model giving way to a digital-first approach with OTA’s like Anywayanyday growing rapidly. These OTAs are not only accepting payments from consumers across an increasingly multi-channel environment – especially as mobile becomes more popular – but also need to reconcile payments with their travel partners: airlines, hotels, tour operators, etc. The delay between booking the service and the use of that service (often months) creates risk as the card used for the initial booking may later be found to be fraudulent when the full transaction is settled.

Furthermore, OTAs are subject to frequent fluctuations in transaction volumes, creating a need for a payments platform with continuously high uptime. Businesses operating within the travel sector run the risk of incomplete transactions, reducing bottom lines and increasing customer churn if the payment system cannot meet this need.

Yuval Ziv, COO, SafeCharge, said:

“The travel industry is transforming as traditional players and digital platforms collide. This means that existing payment solutions aren’t fit for purpose in many cases. We’re invested in transparent, resilient and highly secure payment services, designed specifically for the travel industry to meet its challenges head on. Anywayanyday is a major win for us as we grow our footprint in the sector and it is a testament to the effectiveness of our services.”

Evgeny Shukhlin, CEO, Anywayanyday states:

“As the market becomes more demanding, clear and concise financial reporting is critical to business performance. The ability to drill-down as far as a single transaction will give us the transparency we need when working with multiple partners across different geographies over extended time frames. The unparalleled uptime of SafeCharge ensures we’re always open for business, and the simple yet sophisticated fraud solution – managed from a single point – safeguards our customers and our partners. This level of transparency and control is unprecedented, in our experience. SafeCharge has put us back in control of our payments.”

SafeCharge enables payments for innovative marketplace Funzing

Innovative sharing economy marketplaces to benefit from wide array of payment technologies and services

SafeCharge (LON:SCH), a leader in advanced payment technologies, today announced that it is providing its payments technology to Funzing, an innovative sharing economy marketplace.
Funzing is a community marketplace that connects hosts that have created unique experiences with members of the public looking for an unusual way to use their free time. The organisation operates across three primary markets including United Kingdom, Israel and Singapore.

This marketplace faces multiple challenges related to payments including: accepting payments from global consumers and disbursement of payments to hosts. In addition, the marketplace demands a reliable payment service that is essential to serve its loyal community. Detailed reporting and analytics are key capabilities for optimising the marketplace checkout journey.

Yuval Ziv, COO, SafeCharge, said:

“Marketplaces will continue to grow in both number and size as an effective way to directly connect buyers and sellers. SafeCharge has identified these demanding businesses as strategic clients and is committed to facilitate their payments ensuring they meet buyers and sellers needs, are fully secure and address applicable regulation requirements. Funzing is an innovative sharing economy platform and we are excited to facilitate payments for this fast growing market.”

Avigur Zmora, Founder, Funzing states:

“One of our biggest challenges is meeting the needs of buyers and sellers that want to use diversified payment options. SafeCharge has provided a transparent, highly resilient and always-available payments solution – without passing the complexity on to us.”

SafeCharge expands into Asia Pacific and joins UnionPay International

Company opens Singapore and Hong Kong offices to support expansion

SafeCharge (AIM: SCH), a leader in advanced payment technologies, today announced that it has opened an office in Singapore and a satellite office in Hong Kong.

In addition to its new offices, SafeCharge has become a member of UnionPay International, a subsidiary of the fast-growing global payment network China UnionPay which is extensively used by Chinese shoppers domestically and internationally.

Mr. Willy Kwa has been appointed as Regional Director and Head of APAC Business and will be based in the Singapore office. With approximately 20 years’ experience in the payments sector gained at companies such as DBS Bank and NETS, Mr. Kwa is well-equipped to spearhead the Company’s growth in the region, with a clear mandate to provide the highest levels of customer service as well as establish and maintain relationships with local and international technology, payment and banking partners.

David Avgi, CEO, SafeCharge, said:

“Establishing offices in Singapore and Hong Kong will enable us to grow our footprint in the region and provide local card acquiring and alternative payments for domestic and international businesses that serve customers in Asia Pacific. Our membership of UnionPay International means that we are able to help European merchants accept this fast growing payment method and support the dramatic demand for cross-border transactions in an increasingly global market.”

Willy Kwa, Regional Director and Head of APAC Business stated:

“The Asia Pacific region not only has the largest e-commerce market in the world, but now represents more than half of all e-commerce spend globally, with its lead set to only grow further. In addition, companies like Ant Financial and AliPay demonstrate that domestic innovation is rapidly going global and dramatically altering the macro payments landscape. A local presence is essential in order to stay ahead of the innovation curve, support customers internationally and accelerate our growth.”

BET Entertainment Technologies selects SafeCharge payment services for regulated sports betting in Portugal

SafeCharge (LON:SCH), a leader in advanced payment technologies, has been selected by Bet Entertainment Technologies to provide a range of advanced online payment services for its Portuguese market-leader operation (bet.pt). Powered by software provider SBTech and regulated by the SRIJ, Bet Entertainment Technologies provides online sports and casino betting for the Portuguese market. The deposit and withdrawal journey for Portuguese players is enriched with access to localisation capabilities such as language, currency and local payment methods.

SafeCharge’s Personalised Cashier, a customised deposit and withdrawal solution, is directly integrated into SBTech’s Sportbook and iGaming platform. The Personalised Cashier solution provides the ability to make deposits and withdrawals seamlessly with unique localisation capabilities such as diversification of global and local alternative payment methods, specifically preferred payment method Multibanco, multiple currencies and languages. Sophisticated fraud prevention technologies improve Bet Entertainment Technologies’ internal risk operations across both cards and alternative payment methods.

SafeCharge’s integration into SBTech’s platform accelerates time to market for Bet Entertainment Technologies as well as enhancing service functionality in terms of improved player experience.

Yuval Ziv, COO, SafeCharge states:

“Bet Entertainment is an exciting, forward-looking company just starting out on its online journey. Using our payments services its players will benefit from maximum flexibility in terms of deposits and withdrawals along with a compelling user experience, total transparency and unparalleled security. We’re confident this will not just support but accelerate Bet Entertainment’s online growth. The integration with SBTech also means that anyone else using this leading platform can also reap the benefits of our award-winning technology.”

Gabino Oliveira, Chairman, Bet Entertainment Technologies states:

“We needed to go to market in a very short amount of time and payments presented a big challenge. Efficiency of withdrawals and deposits, whilst adhering to stringent regulations, is critical to our business, and optimising the process was a major task. Furthermore, we needed a technology partner that is integrated with SBTech’s platform to speed up time to market and reduce the operational burden. SafeCharge’s payment services not only met but exceeded expectations in terms of implementation, delivery and ongoing payments expertise.”

Games publisher Madmoo selects SafeCharge to deliver in-game payments for multi-player title, Rage War

SafeCharge (LON:SCH), a leader in advanced payment technologies, today announced that it has been selected by Madmoo, a leading browser game publishing house. As part of the agreement, SafeCharge will provide in-game payments for Madmoo’s new title, Rage War created by game developer, Fury Studio. Implementation of SafeCharge’s advanced payments solutions has enabled Fury Studio to boost approval ratios, deliver an improved checkout experience for players and reduce fraudulent transactions.
SafeCharge provides a range of payments products and services including a customised Personalised Cashier, a comprehensive back office featuring advanced reporting tools, and robust fraud prevention capabilities. In order to market the game globally, SafeCharge has enabled a number of local payment methods, currencies and languages to provide global coverage.

Yuval Ziv, COO, SafeCharge states:

“SafeCharge is excited to be collaborating with Madmoo to provide advanced payments technologies for their distinctive client base. We strive to improve the checkout experience and security of Rage War players by optimising every aspect of the payments funnel.”

Hristo Tenchev, CEO, Madmoo states:

“SafeCharge is our partner of choice for in-game payments based on experience with its advanced technology based solutions and its expertise in mobile payments. We believe that our collaboration will enable Rage War to gain traction in new markets and offer players an enhanced in-game journey leading to increased conversions and reduced abandonments.”

Nadejda Danabasheva, Chief Gaming Officer, Fury Studio, Ltd. states:

“Collaboration with our publisher Madmoo has given us access to SafeCharge’s advanced technology capabilities and enabled us to achieve high approval ratios maximizing our revenues. As we are continuously expanding our games portfolio, we envision that SafeCharge will be our preferred payments partner based on its performance and the perfect fit of its solution portfolio to our unique needs.”

SafeCharge makes strategic minority investment in Nayax

SafeCharge (LON:SCH), a leader in advanced payment technologies, today announces that it has completed a minority investment in Nayax Ltd (“Nayax”), a leading global provider of EMV certified cashless payment solutions for the unattended vending sector.

The SafeCharge cards acquiring and innovative payments platform has been integrated with Nayax technologies to deliver a robust and scalable solution for unattended payments. The investment follows the success of a number of pilot tests in Poland and the UK, the forerunners to a gradual roll out of the acquiring service across Europe.

David Avgi, CEO, SafeCharge states:

“”We are excited to play a key role in the enablement of contactless payments for unattended machines across Europe helping consumers on the go to access and pay for products securely and quickly. We are determined to implement our strategy of providing international payment services to diverse verticals for multichannel businesses to maximise acceptance, full transparency and cost effective fees structure.”

Yair Nechmad, CEO, Nayax:

“We selected SafeCharge technologies for its unparalleled service availability, superior reporting and analytics capabilities and fully transparent financials that are key for the optimised operation of our business. Our unique partnership has enabled us to offer consumers a top-notch service when making unattended payments.”

Sisal.it, the online gaming platform of the Italian Sports Betting and Gaming leader, boosts payments conversion with SafeCharge’s advanced payments technologies

SafeCharge (LON:SCH), a leader in advanced payment technologies, today announced that Sisal.it, the online gaming platform of the Italian group operating in the Gaming and Payment Services sector, has selected SafeCharge to facilitate players’ deposit and withdrawal journey, fraud prevention, cards acquiring and alternative payments acceptance for the Italian market.

SafeCharge’s Personalised Cashier enables Sisal.it to provide Italian players with an enhanced deposit and withdrawal experience for cards and multiple Alternative Payment Methods (APMs). By implementing the Personalised Cashier, Sisal.it has access to unique capabilities such as single-click deposits, decline recovery, dynamic 3D Secure along with additional proprietary gaming enablement features that are key in driving a significant increase in conversions.

SafeCharge’s Fraud Prevention Platform supports Sisal’s regulation compliance as well as its internal risk operations including both cards and alternative payment methods. In order to reduce cost, liability and manpower resources Sisal.it has shifted the responsibility of storing and transmitting sensitive card holder data to SafeCharge as all sensitive consumer data along with payment card data are being stored in the SafeCharge vault.

David Avgi, CEO, SafeCharge states:

“We are honored to have been selected as Sisal’s payments provider and we believe that our payments technology will contribute to facilitating Italian players’ deposit and withdrawals journey. By working with Sisal.it we are expanding our presence in the Italian market and delivering on our roadmap of extending our services to different territories.”

Marco Tiso, Online Gaming Business Manager at Sisal states:

“Further to reviewing a number of payments providers, in order to offer a more efficient service to our clients, we selected SafeCharge based on their established presence within the gaming industry, unique technologies for both deposit and withdrawals, full alignment with Italian gambling directives along with top-notch account management and technical support services. We believe we will be able to streamline our payments process and offer simpler and secure processing.”

SafeCharge Limited is an Electronic Money Institution authorised and regulated by the Central Bank of Cyprus and is a principal member of MasterCard, Visa and Unionpay International (CUP). SafeCharge Financial Services Limited is authorised and regulated by the Financial Conduct Authority as a Payment Institution. Both SafeCharge companies are wholly owned by SafeCharge International Group Limited.