Interview with SafeCharge on payments evolution and fine-tuned payments strategies

What is your background, and what led you to found SafeCharge?

My background is in information systems, engineering, payments, business development and risk management. Back in 2007, I co-founded SafeCharge as a global payments technology company to address a significant gap in the market. My vision was to provide merchants around the world with the flexibility and technical capability to support new business models and propel growth.

I believe payments are no longer a commodity and have become a true competitive differentiator for businesses willing to expand and provide a better customer experience. We developed the SafeCharge Payments Engine from the ground up to enable merchants to seize new business opportunities, develop new revenue streams and forge new business models globally. We took the company public in 2014 to accelerate growth and become one of the most transparent and reliable player within the payments space.

How has SafeCharge developed over the last 11 years?

Having developed an unrivalled track record working with merchants within complex and regulatory-heavy markets such as gaming and financial services, we saw strong demand coming from merchants across the travel, retail and digital goods industries.

When it comes to payments, many businesses are looking for a reliable partner that can cope with the high transaction volumes, with global reach and the capacity of delivering a seamless experience for users regardless of their location or device. We have grown to work with some of the largest and most demanding businesses, by offering a robust payments infrastructure and reaching the level of innovation that businesses are expecting today.

How do you see the merchants’ needs towards payments evolution?

It depends on which phase businesses are in. For startups, we clearly see the need for a ready-to-go solution that can help them to access customers around the world in a seamless way without having to worry about integrations or contractual arrangements. For merchants, we have just launched SafeCharge Express which we believe is a fast and easy way for smaller organisations to accept payments using local payment methods and optimised payment pages at a very competitive price.

When companies are in a scale-up phase or already established players with specific requirements, we see the need for a personalised approach, with dedicated support and customisation. Our Enterprise solution provides the flexibility and innovation focus that these companies are looking for.

Can you provide some examples of why a robust payment platform is so important?

A recent example would be the Grand National in the UK, where, each year, over GBP 200 mln in bets are placed online. Our payments data has shown that the payment volume at this event is actually increasing year-on-year. And while the overall volume of transactions is increasing, so is the number of transactions processed per second, which increased by up to 118% this year. Additionally, the value of bets increased by 60% when compared to 2017. Both of which highlight the need for a robust payment infrastructure to handle the payment volume surge with a zero downtime and an always-on approach. From a payment perspective, processing for the Grand National is similar to processing for Black Friday or any other high volume online sales event. While payments might not be the first thing a sales organisation would focus on when arranging an online sales event, examples such as the Grand National demonstrate that it needs to be a key pillar when it comes to successfully managing online spikes in sales traffic.

What is your take on PSD2? Do you think that PSD2 will bring about the innovation that the EU intended it for?

Today’s marketplace is a global one, and to effectively serve customers in any geography, financial processes are moving towards more flexible initiatives. PSD2 is a significant evolution of existing industry regulation. It is aimed at increasing competition and innovation, bringing scope for new types of financial services and to enhance customer protection. For merchants, the most important changes fall under four key areas: strong customer authentication, account access, licencing of marketplaces, and surcharging. We believe that this period of significant change within the industry represents a real opportunity for SafeCharge to provide flexible solutions and an innovative approach for merchants looking to adapt to this transition phase.

What is next for SafeCharge? How are you planning to develop and expand in the coming years?

Having witnessed the benefits that a fine-tuned payments strategy can bring to a business, merchants have changed their perception towards payments. I expect to see an increase in the number of payments managers within organisations, who will be looking for the most robust and forward-looking technology able to deliver the best customer payment experience and the highest conversion rates. To this end, we have developed the industry’s first Native+ Payments Engine. Native - because it has been built from the ground-up as a platform covering the full payment value chain providing merchants with all the benefits of an end-to-end secure payment processing solution. And + because it also enables a connection to other payment and risk management partners. We will continue to develop our Native+ Payments Engine over the coming years to put merchants in control of their acquiring dynamic routing, risk management configuration and payment methods configurations, managing it all directly on our platform.

About SafeCharge

SafeCharge is a technology company providing an open, modern payments technology for merchants of all shapes and sizes. SafeCharge’s global omnichannel payments services cover the full value chain, from card acquiring and issuing to payment processing and checkout, all underpinned by advanced risk management solutions. The SafeCharge Payments Engine has been designed to support merchants demanding more from payment technology; more conversion, more customers, more revenues.