How Chargeback Management Software Benefits Payment Service Providers

Jennifer Blake Posted on November 18, 2020

Payment service providers offer essential services to businesses that want to accept online payments. They enable electronic payments from credit cards, debit cards, and bank transfers. PSP’s make it easy to take payments through a single channel that manages the whole transaction, from start to finish.

PSP’s give merchants excellent value and saves them money with lower fees compared to merchants processing many individual payments themselves. Many payment service providers accept multiple currencies and offer security with PCI DSS compliance.

The UK’s top 5 PSP’s

There are numerous PSP’s for merchants to consider with different advantages. The UK’s top five include:

1. Paypal

Paypal is the most well-known PSP and popular with new businesses. Benefits include:

  • Easy to set up
  • Fast checkout – customers don’t have to enter debit or card numbers
  • Offers mobile credit card machines (Paypal Here)
  • Integrates with shopping carts such as Magento and Shopify
  • Accepts 25 currencies
  • Low fees

Become a partner or learn more about free Paypal chargeback management - No card details required!

2. Stripe

Stripe is for developers and businesses looking for advanced eCommerce and mobile commerce tools. Benefits include:

  • Low fees
  • Accepts international payments with more than 135 currencies
  • SaaS and subscription plans
  • Saves card details to speed up the checkout
  • PCI-DSS compliant

Become a partner or learn more about free Stripe chargeback management - No card details required!

3. Square

Square is a mobile card reader solution. Benefits include:

  • Zero monthly fees and a flat fee for contactless and chip & pin payments
  • Free invoicing software
  • POS software for phone and online credit card payments
  • Android and Apple POS app

4. Shopify

Shopify allows businesses to accept online and offline payments (Shopify POS). Benefits include:

  • Low credit card fees
  • Create bespoke online stores
  • Accepts Facebook Shop and Messenger payments
  • Dedicated App Store

5. PayPoint

Recognised by UK households for prepaying utilities, PayPoint also offers payment services for businesses. Benefits include:

  • Online, phone, and in-store contactless payments
  • Accepts internet purchase payments in-store via eMoney
  • Terminals for card payments

The benefits of chargeback managment software

Merchant

PaymentHelp is a highly-effective chargeback management software that helps merchants reduce chargeback requests by up to 63% and reduce chargeback costs by up to 35%. PaymentHelp is a defensive tool that will minimise chargeback costs through unique chargeback prevention methods that interrupting consumer behaviour at the exact point at which they would file a chargeback request.

PSP

Integrate with PaymentHelp to enable your clients to mitigate payment dispute risk, improve end user experience and reduce costs in your value chain. Your merchants will be able to manage payment disputes in real time, with no impact to existing resource and pre-empt customer behaviour that could lead to chargebacks. 

Become a partner today or contact us to find out more about how we can protect your reputation & lower the risk to your merchants.