Payop 2024 roundup: What we accomplished together

As 2024 wraps up, we’re taking a moment to celebrate an incredible year at Payop. This year has been all about empowering merchants, optimising processes, and delivering exceptional experiences. Let’s dive into the highlights that made 2024 so transformative for us and for you!

This year Payop:

Decreased pricing offerings across the system

It’s a common misconception that payment service providers (PSPs) have complete control over payment method pricing. It’s for a reason when a PSP charges 7.5% or 2.5% + €0.30 per payment. Most of the fee goes to payment method owners, such as Visa, Mastercard, iDeal, Blik, or Trustly. These companies, being commercial entities, do not process payments for free. Plus, every refund and, with some companies, even failed transactions, carry additional costs.

At Payop, we negotiated over a year to secure reduced pricing across our system. This achievement would not have been possible without the trust and support of our merchants and payment partners. Thank you!

Reduced the holds – now we hold x4 less

Another long-term project paid off this year: we reduced the amount of held funds by four times. 

Our risk and compliance measures are not only complex and expensive but also highly effective. By lowering fraud levels across the system, we’ve been able to offer this improvement to our merchants.

This change would have been implemented years ago if it were entirely up to us. However, it’s been a collaborative effort with our merchants, who have continuously improved their fraud monitoring and customer support. Together, we’ve built a safer and more seamless processing environment.

Released scheduled withdrawals

The next step towards optimising payment flows for our merchants was to provide a scheduled withdrawals feature. We did this, and now our clients have more control and flexibility over their finances. 

There are two withdrawal types in our system: payouts and scheduled settlements to your own accounts. With the first option, you can send funds to your partners, stakeholders and suppliers. The second type allows scheduling withdrawals to your previously verified accounts. 

All you have to do is provide us with payment details and wait for it to be approved in the system shortly. Once it’s done, you can automate your settlements based on your preferred timetable. 

This feature saves time, reduces manual effort, and ensures timely access to your funds.

Launched new website

Yes, Payop finally got a new face. However, our new website isn’t just a redesign. Built with speed, simplicity, and your needs in mind, it’s a hub for all things Payop. 

Though still a work in progress, our website is created not just to tell you about our services. It’s a way to learn about various payment methods, solutions and trends or find the right tools for your business.

We’re excited to make connecting with us easier and more enjoyable than ever.

Updated Payop checkout

We are getting a lot of advice about improving Payop and Pay by Bank checkouts. But we are stubborn. Instead of blindly following those, we perform expensive, in-depth A/B testing. We let payers choose the most intuitive flow. 

At the moment, you can see different Payop and Pay by Bank checkout versions across the web. Soon, we will release the final, best-performing, sleek and user-friendly version. So, get ready for the ultimate checkout experience.

Added status tracker for payers

Transaction processing times often depend on factors like banking hours that we can’t influence. And it can be very time-consuming to respond to numerous payers enquiries about their order and payment statuses. 

To make life easier for ourselves and our merchants, we have launched a Status tracker. Now payers get an email with the link to track their transactions in real time. 

This simple yet powerful tool enhances the customer experience, building loyalty and confidence in your brand.

Released Team members feature

Growing a business requires teamwork and delegation of duties. This year, we launched a Team members feature that allows you to do just that with your payment matters. 

This addition allows you to assign specific roles and permissions to your team members, ensuring each user has access only to the tools and information they need. 

Whether you’re a small business expanding your operations or a large enterprise managing multiple departments, the Team members feature ensures that your Payop account remains organized, secure, and tailored to your business structure.

Onward to 2025!

As we reflect on a transformative 2024, we can’t help but feel excited for what’s ahead. Every improvement we’ve made is rooted in our mission to empower merchants and create the best payment experiences. Your feedback and trust have been the driving forces behind these achievements.

Thank you for choosing Payop as your payment partner. Here’s to an extraordinary 2025 filled with innovation, growth, and shared success!