OKPAY: Difference between revisions

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OKPAY is an international [[eWallet]] service and a shopping cart interface / payment processing service.<br />
OKPAY is an international [[eWallet]] money transfer and payment service provider. It allows users and merchants to deposit and withdraw funds using a wide range of available options, including bank transfers, transfers from other payment systems or money transfer services, OKPAY MasterСard, and more. <ref>[https://www.okpay.com/en/ OKPAY website]</ref> <br />
 
The system has user verification as a protection mechanism against money laundering and fraud. It imposes restrictions on non-verified accounts such as financial services availability, transfer limits, etc.<br />
Users and Merchants can withdraw money anyway, including OKPAY Mastercard debit card.<ref>[http://www.eprfinancialnews.com/2012/04/26/okpaycom-introducing-virtual-prepaid-mastercard/ OKPAY.com Introducing Virtual Prepaid MasterCard]</ref> <br />
OKPAY System is working with some of the major BTC stock exchanges (i.e. BTC-E, Exmo). Therefore, customers can exchange BTC not only in OKPAY but also via other exchanges as well as withdraw it after using OKPAY.<br /> <br />
 
OKPAY offers the following methods of cashing: <ref>[http://www.johnchow.com/okpay-processes-your-electronic-currency-payments-too/ OKPAY Review]</ref>
* Bank wire transfers
* OKPAY debit cards
* International money transfers
* Electronic Currencies
* Exchange partners <br />
 
In 2017 due to obtaining Central Bank of Cyprus' license, OKPAY will stop working with Bitcoin and accounts using any crypto-currencies will be closed according to the company's Terms of Service.


== History ==  
== History ==  
Line 18: Line 7:
* Dec 2010 - company has won online awards organized by the Australian forum on the Internet earnings CashFindForum.com in both nominations: «The best Payment System of 2010» & «The best Upcoming Project of 2010».
* Dec 2010 - company has won online awards organized by the Australian forum on the Internet earnings CashFindForum.com in both nominations: «The best Payment System of 2010» & «The best Upcoming Project of 2010».
* Jan 2011 - Alliance of UWCFS & OKPAY<ref>[http://www.uwcfs.com/en/news/press-release/3 Alliance of UWCFS & OKPAY]</ref>
* Jan 2011 - Alliance of UWCFS & OKPAY<ref>[http://www.uwcfs.com/en/news/press-release/3 Alliance of UWCFS & OKPAY]</ref>
* Nov 2011 - OKPAY Company officially supporting Bitcoin e-currency deposits <ref>[http://www.forbes.com/sites/jonmatonis/2012/05/07/bitcoin-funded-debit-cards/ Bitcoin Funded Debit Cards]</ref>
* Jan 2012 - OKPAY ® trademark registered in the European Union
* Jan 2012 - OKPAY ® trademark registered in the European Union
* Oct 2016 - Aquired Central Bank of Cyprus' license, now is a EU regulated company.<ref>[https://www.okpay.com/en/company/news/we-are-becoming-a-eu-regulated-company/ Central Bank of Cyprus license]</ref>
* Oct 2016 - Aquired Central Bank of Cyprus' license, now is a EU regulated company.<ref>[https://www.okpay.com/en/company/news/we-are-becoming-a-eu-regulated-company/ Central Bank of Cyprus license]</ref>


==Distinctive features==
*Payment gateway with a set of checkout features. Including payments, recurring billing and preapproved payments <ref>[https://www.okpay.com/en/business/fees/ Business options]</ref>
*Global payouts supporting payment cards, electronic, bank and cash transfer <ref>[https://www.okpay.com/en/business/payouts/ Payouts]</ref>
*Payment processing for every popular platform within a single API integration <ref>[https://dev.okpay.eu/en/shop-systems/index.html Shop Systems]</ref>
*21+ supported languages and world currencies <ref>[https://dev.okpay.eu/en/manual/references/currency-codes.html Currencies]</ref>
*Client verification service and other partnership opportunities <ref>[https://www.okpay.com/en/business/client-verification/ Cleint verification]</ref>
==Supported payment options and currencies==


==Software==
OKPAY offers the following payment options:
*Visa/MasterCard cards
*Bank wire transfers
*International money transfers
*Electronic currencies
*Mobile payments
*Retail stores and kiosks
 
Supported currencies:<br />
USD, EUR, GBP, RUB, CHF, CZK, AUD, CAD, JPY, NOK, SEK, DKK, HRK, HUF, NZD, PLN, RON, TRY, ZAR, HKD, CNY
 
==Supported e-commerce software==


OKPAY provides software plugins or modules compatible with the following ECommerce shopping carts:
OKPAY provides software plugins or modules compatible with the following ECommerce shopping carts:
Line 61: Line 68:
*Zen-Cart
*Zen-Cart


==Fees==
Internal transaction fee for transferring money between OKPAY users is always the same: 0.5% with a maximum of 2.99 EUR. This allows for an convenient and relatively cheap cross-border payments. The transaction charge can be either paid by the sender or deducted from the payment amount on the receiver’s end. <ref>[https://www.okpay.com/en/business/fees/ General OKPAY fees]</ref>


==Privacy and Security==
OKPAY employs a number of security mechanisms to prevent criminals from using its services and therefore protect its clients from trouble:
*User verification requires users to prove that they are who they claim to be by providing scanned copies of their real documents, such as passports, driving licenses, etc. Unless a user’s account is verified, they have limited options when it comes to using their account. 
*In order to prevent illegal financial activity and to comply with appropriate AML policies, verified users have to fill out personal questionnaires on financial activity that are used to track where funds originate from.
*Besides the above-mentioned methods, OKPAY employs automatic fraud monitoring service which routinely monitors in real time all suspicious and unusual activities within the system.


==Supported currencies==
==Bitcoin support==
USD, EUR, GBP, RUB, CHF, CZK, AUD, CAD, JPY, NOK, SEK, DKK, HRK, HUF, NZD, PLN, RON, TRY, ZAR, HKD, CNY
The system used to fully support Bitcoin transactions. But this situation changed in October 2016, when the company was relicensed by the Central Bank of Cyprus. OKPAY had to follow a new set of rules and regulations which did not allow for the use of cryptocurrencies, including Bitcoin. This is why it is not recommended to use OKPAY for bitcoin and other cryptocurrency transfers. It is not uncommon for OKPAY to block accounts associated with bitcoin transfers.
 


==See Also==
==See Also==
* [[Buying bitcoins]]
* [[Selling bitcoins]]
* [[Payment methods]]
* [[Payment methods]]


==External links==
==External links==
* [http://www.okpay.com OKPAY] website
* [http://www.okpay.com OKPAY] website
* [https://www.okpay.com/en/developers/interfaces/index.html OKPAY HTTPS API]
* [https://dev.okpay.com/en/guides/payments-automation.html OKPAY API Payment Automation]
* [https://www.okpay.com/en/developers/ipn/index.html OKPAY IPN]
* [https://dev.okpay.com/en/manual/ipn/index.html OKPAY IPN]
* [https://www.okpay.com/en/services/accept-payments/index.html OKPAY Accepting Payments]
* [https://www.okpay.com/en/services/accept-payments/index.html OKPAY Accepting Payments]
* [https://www.okpay.com/en/developers/index.html OKPAY Integration]
* [https://dev.okpay.com/en/guides/index.html OKPAY Integration]
* [https://www.okpay.com/en/developers/shop-systems/index.html OKPAY Shopping carts and Applications Store]
* [https://dev.okpay.com/en/shop-systems/index.html OKPAY Shopping carts and Applications Store]
* [https://localbitcoins.com/buy-bitcoins-online/okpay/ Buy Bitcoins using OKPay on LocalBitcoins]
* [https://localbitcoins.com/sell-bitcoins-online/okpay/ Buy Bitcoins using OKPay on LocalBitcoins]
* [https://github.com/botsofbitcoin/local-bitcoins-api OKPay trading bot for LocalBitcoins]
 


==References==
==References==

Latest revision as of 12:51, 28 February 2017

OKPAY is an international eWallet money transfer and payment service provider. It allows users and merchants to deposit and withdraw funds using a wide range of available options, including bank transfers, transfers from other payment systems or money transfer services, OKPAY MasterСard, and more. [1]
The system has user verification as a protection mechanism against money laundering and fraud. It imposes restrictions on non-verified accounts such as financial services availability, transfer limits, etc.

History

  • Nov 2009 – company foundation [2]
  • Apr 2010 - launch of the integration system for online shops and internet businesses
  • Dec 2010 - company has won online awards organized by the Australian forum on the Internet earnings CashFindForum.com in both nominations: «The best Payment System of 2010» & «The best Upcoming Project of 2010».
  • Jan 2011 - Alliance of UWCFS & OKPAY[3]
  • Jan 2012 - OKPAY ® trademark registered in the European Union
  • Oct 2016 - Aquired Central Bank of Cyprus' license, now is a EU regulated company.[4]

Distinctive features

  • Payment gateway with a set of checkout features. Including payments, recurring billing and preapproved payments [5]
  • Global payouts supporting payment cards, electronic, bank and cash transfer [6]
  • Payment processing for every popular platform within a single API integration [7]
  • 21+ supported languages and world currencies [8]
  • Client verification service and other partnership opportunities [9]

Supported payment options and currencies

OKPAY offers the following payment options:

  • Visa/MasterCard cards
  • Bank wire transfers
  • International money transfers
  • Electronic currencies
  • Mobile payments
  • Retail stores and kiosks

Supported currencies:
USD, EUR, GBP, RUB, CHF, CZK, AUD, CAD, JPY, NOK, SEK, DKK, HRK, HUF, NZD, PLN, RON, TRY, ZAR, HKD, CNY

Supported e-commerce software

OKPAY provides software plugins or modules compatible with the following ECommerce shopping carts:

  • 3dCart
  • Acorn
  • AlegroCart
  • aMember PRO
  • AShop V
  • BILLManager
  • 1C-Bitrix
  • Comersus Cart
  • CRELoaded
  • CS-Cart
  • CubeCart
  • ecshop
  • HostBill
  • JoomShopping
  • Magento
  • nopCommerce
  • OpenCart
  • osCommerce
  • Perfecto CMS
  • PrestaShop
  • Simpla CMS
  • TomatoCart
  • Ubercart
  • ViArt Shop
  • VirtueMart
  • VP-ASP
  • WebSite X5
  • WHMCS
  • WooCommerce
  • Wordpress - eShop
  • WP eStore
  • X-Cart
  • Zen-Cart

Fees

Internal transaction fee for transferring money between OKPAY users is always the same: 0.5% with a maximum of 2.99 EUR. This allows for an convenient and relatively cheap cross-border payments. The transaction charge can be either paid by the sender or deducted from the payment amount on the receiver’s end. [10]

Privacy and Security

OKPAY employs a number of security mechanisms to prevent criminals from using its services and therefore protect its clients from trouble:

  • User verification requires users to prove that they are who they claim to be by providing scanned copies of their real documents, such as passports, driving licenses, etc. Unless a user’s account is verified, they have limited options when it comes to using their account.
  • In order to prevent illegal financial activity and to comply with appropriate AML policies, verified users have to fill out personal questionnaires on financial activity that are used to track where funds originate from.
  • Besides the above-mentioned methods, OKPAY employs automatic fraud monitoring service which routinely monitors in real time all suspicious and unusual activities within the system.

Bitcoin support

The system used to fully support Bitcoin transactions. But this situation changed in October 2016, when the company was relicensed by the Central Bank of Cyprus. OKPAY had to follow a new set of rules and regulations which did not allow for the use of cryptocurrencies, including Bitcoin. This is why it is not recommended to use OKPAY for bitcoin and other cryptocurrency transfers. It is not uncommon for OKPAY to block accounts associated with bitcoin transfers.

See Also

External links

References

  1. ↑ OKPAY website
  2. ↑ Interview with OKPAY CEO
  3. ↑ Alliance of UWCFS & OKPAY
  4. ↑ Central Bank of Cyprus license
  5. ↑ Business options
  6. ↑ Payouts
  7. ↑ Shop Systems
  8. ↑ Currencies
  9. ↑ Cleint verification
  10. ↑ General OKPAY fees
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