Upco Merchant

Upcopoint is a Point of Sale (POS) payments system that will enable businesses to conduct sales and manage inventory and customer data more efficiently. Key highlights of Upcopoint include:

  • Upcopoint will accept all forms of payment, including cards, cash, checks and gift cards, making it easy and secure for merchants to get paid
  • Competitive rates with a low rate per card swipe without long-term commitments or hidden fees
  • Incorporates the latest blockchain technology for a more secure payment method
  • Monitors for fraudulent transactions 24/7 to help keep customers’ financial information protected
  • Will be fully integrated with UpcoPay’s mobile eWallet, enabling merchants to accept instant payments from consumers using the UpcoPay App
  • Will be possible for consumers to open an Upco eWallet following all banking compliance with Know Your Customer (KYC) directives and receive an UpcoPay Card
  • Upcopoint enables funds to be sent immediately to other Upcopoint users around Europe to facilitate real-time cash transfers
  • Upcopoint can generate a voucher (pin) that can be used to top-up any UpcoPay eWallet in Europe

What benefits do I get as a merchant for using UpcoPAY?

UpcoPAY is designed to be complementary with other on-line payment systems.  We are not saying that you should not consider credit cards and PayPal as on-line payments, and rely on us solely.  Each payment system has its strengths and weaknesses.  What we want merchants to understand is that they gain a lot of benefits by including UpcoPAY in their payment options to customers.

These benefits include:

1 Security > UpcoPAY protects both the buyer and the merchant.  The buyer does not have to disclose easily stolen information such as credit card data over the Internet.  Instead, he can rely on the much more secure on-line banking environment.  Merchants are protected against fraud involving easily stolen credit cards.  And with UpcoPAY’s no-chargeback payment policy, once you are paid, you stay paid.

2 Bigger Market > On-line merchants have to realize that there is a much bigger market just waiting to be tapped.  If the customer has a bank account, our On-line Banking channel will allow on-line, real- time payments to be made.  If the customer has no bank account or his bank is not supported by UpcoPAY for On-line Banking, the OTC Banking solution will allow him to make the payment in the more than 4,000 bank branches that we will support by year-end 2020.

3 Lower Cost > With traditional on-line payment systems like credit cards or PayPal, the merchant is charged a percentage of the total gross sales plus a fixed fee portion.  This total can vary from 3% to 15% depending on the risk level of the goods or services being offered, and the credit-worthiness of the merchant.  For items with small margins (ex. consumer electronics) or services (ex. school tuition, hospital bills), such fees are unacceptable.  UpcoPAY charges a fixed fee per transaction instead of a percentage.  This can accrue to large savings for the merchant.

Many merchants highly rely on accepting credit cards as their sole payment option. Numerous studies have also consistently shown that by increasing the total number of available payment options to on- line buyers, an increase in sales of 10% to 20% have been experienced even in developed countries where most people there already have credit cards.

How do I shop with UpcoPAY?

Paying through UpcoPAY is surprisingly simpler than most on-line payment systems.  There is a simple registration process required.  Depending on which payment channel you choose, the experience varies only slightly.

For On-line channel, it just takes three (3) simple steps:

1 > Choose the items you want to purchase and proceed to the merchant’s checkout page.

2 > Choose UpcoPAY among the payment options.

3 > Click the Pay button and that’s it!

UpcoPAY provides innovative payment solutions to help merchants accept or disburse payments on-line.  We focus on alternative payment channels such as banks, mobile payments, ATM’s, and brick-and-mortar payment centers.  By doing so, we provide our merchants convenience, better protection against fraud, and low transaction fees.

On-line Payment Collection

The entire process is quick and very simple:

Everybody believes e-commerce will be a major force in retail.  The challenge remains in developing countries where the main mode of payment is still cash.

It is also estimated that only about 20% to 25% of the population at most have a bank account.  How do you get these potential buyers with no credit cards to shop on-line?

UpcoPAY solves the problem by extending the on-line world to the physical world.  Customers can buy on-line from e-commerce merchants and fulfill the payment through non-credit card channels.   We currently support on-line banking of most of the major local commercial banks, physical ATM payments, over-the-counter (OTC) cash payments at banks and retail establishments (supermarkets, groceries, department stores, courier centers, remittance centers), electronic wallets or credits (UpcoPAY Credits, and now — Cash on Delivery!.  Merchants are provided with a single, unified Application Programming Interface (API) to accept payments from any supported source.

Merchants enjoy several benefits when using UpcoPAY’s alternative payment collection service:

Broad reach to the mass market
No chargeback/fraud
Low, fixed transaction fees

Recurring Payments

Save yourself the drudgery of following up and collecting regularly repeating payments like subscriptions, amortizations, and membership dues by using our Recurring Payments platform.  Unlike traditional recurring payments using credit cards, UpcoPAY uses alternative platforms which gives these benefits:

Broader market reach
No chargeback/fraud
Low, fixed transaction fees

Mass Payments

Businesses that need to send out money to a lot of people – sales agents, network marketers, affiliate marketers, suppliers and so on, can benefit from using our Mass Payout platform.  Payroll and commissions can be routed through our system and sent to various bank accounts, mobile-wallets, and even cash pickup stations.  Businesses save on time and resources in doing this task manually.

Personal Escrow Service

If you are a personal seller and you are looking for ways to accept more forms of payment while giving your buyers a higher level of comfort that they are transacting through a trusted 3rd party processor like UpcoPAY, consider our person-to-person payment service.