23 June, 2023

In focus: Payop

In today’s rapidly evolving digital landscape, companies that offer payment services are essential for smooth and secure online transactions. Among these companies is Payop, a certified Money Service Business.

Anastasia Semenkova, Head of Payment Operations

The founder and CEO, Denys Myloserdov, recognised the need for a unique and innovative approach to collecting payments online, which led to the creation of a payment product.

What sets Payop apart in the crowded payment market is its comprehensive array of over 500 payment methods combined into one solution, establishing it as an important player in the payment industry. Through the checkout form, users have access to a variety of international and local payment options they use on a daily basis. This inclusive approach lets website owners collect payments all over the world through different payment schemes, such as cards, e-wallets, vouchers, bank transfers, cash payments and mobile top-ups. By combining these methods into a unified interface, Payop provides a convenient and efficient experience for both businesses and their customers. This allows website owners to tailor their payment options to match their customers’ needs.

One of the most distinctive features of Payop’s platform is its ability to leverage big data to gain valuable insights into global payment habits. This analysis helps Payop track existing trends and predict emerging patterns in the dynamic payment industry. For example, while Latin American payers primarily opt for bank transfers and cash top-ups, mobile payments are rapidly gaining traction in Africa. Asia presents a unique case with each country favouring its individual e-wallet option. With a nuanced understanding of these regional preferences, Payop can effectively tailor its services to cater to specific markets.

"Open banking allows users to make online payments directly from their bank accounts with just a few clicks"

Keeping its finger on the pulse of evolving payment preferences, Payop is quick to adapt to new trends. A case in point is the company’s swift response to the emerging trend of open banking in Europe. Open banking allows users to make online payments directly from their bank accounts with just a few clicks. This streamlined payment flow is familiar to users who have encountered payment brands such as Klarna, Sofort and Trustly. Payments are authorised directly via banking apps or online banking platforms, ensuring a high level of security. Payop views open banking as the future of European payments and stakes on this technology accordingly.

In its bid to encourage wider adoption of open banking, Payop provides open banking under the “Pay by Bank” label. This industry-wide term helps familiarise more users with the concept, accelerating its acceptance.The creation of the “Pay by Bank” feature was achieved through strategic partnerships with leading tech providers and financial institutions, ensuring a high conversion rate. Payop continuously works on enhancing the Pay by Bank feature’s performance by updating its code to simplify the user journey regularly. With a committed team conducting regular tests and exploring new ideas, Payop continues to enhance the feature’s effectiveness and stay ahead of payment innovation.

At the heart of Payop’s mission is the commitment to helping businesses increase their turnover. Payop recognises the challenges of attracting new leads in the strictly regulated iGaming industry and constantly updates its product to support customers’ journey when they make their first payment on a new website. Payop’s dedicated Payment Team dives deep into each payment method’s subtleties, suggesting improvements to the user interface or technical updates to boost performance. Payop believes that all users, despite their language, mindset, device preference and operating systems, should be able to access an efficient payment process. The company collaborates with payment method owners by sharing feedback and ideas, contributing to the overall growth of the payment market.