Payment Goblin is a new and ambitious payment service provider with a base of merchants from all types of risk levels. It offers them various range of services and solutions designed to help them bank their turnover via multiple payment methods and across currencies and to grow their sales. It also works to keep eCommerce businesses compliant with the multitude of ever changing international laws and standards on payments.
Founded in 2014, the company quickly established itself within the eCommerce community as a trusted source of quality payment service provider.
Even though the company had an initial global offering, Payment Goblin wanted to augment their world-wide reach and provide their users a friendlier and easier-to-use platform that would allow them to integrate easily and access both international and local payment methods.
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In addition, with mobile payments becoming an ever more popular platform among consumers and being a key aspect of their future business plan, they needed a new platform that could successfully power their wide range of services. They were particularly looking for a global acquiring network that would allow their merchants to trade with any consumer anywhere in the world, and a fast omni-channel payment solution that wouldn’t cause their clients lose time and business with lengthy on-boarding processes.
After careful consideration and research, Payment Goblin selected ONPEX to provide a complete solution to satisfy these exacting requirements.
ONPEX used its opx.io platform as a full white-labelled product and set it up according to the needs and objectives of Payment Goblin. The configuration of the white-label setup was remarkably simple; all that was required for Payment Goblin was the purchase of SSL certificates for their domains and adjusting the DNS settings accordingly.
The new portal that was created included a production and sandbox gateway, management and portal URLs and the full documentation and samples. It also offered omni-channel support for eCommerce, mCommerce, MOTO, mPOS and POS and optimized conversion with intelligent and dynamic acquirers routing.
To satisfy their need for internationality, this platform enabled Payment Goblin’s merchants to give their customers the option to pay with the payment method of their choice while maintaining exceptional standards of security to reduce risk through industry-leading fraud prevention methods, chargeback management networks, information services and KYC tools.
In addition, the platform also focused on the speed quality Payment Goblin required. This was not only for the swift merchant on-boarding but also the delivering of minimal time consuming implementation procedures. As the platform delivers a swift and simple integration of APIs, payment pages, SDKs and other tools, Payment Goblin did not need to invest in additional infrastructure or software (PaaS).
Once the white-label platform was up and running, ONPEX quickly customised it with Payment Goblin’s colours, logo and brand guidelines and in very little time indeed, Payment Goblin were able to commence integrating merchants onto the platform.
Measuring the results
As with any company integrating a new technology there was a sense of trepidation, but, within a few short months, Payment Goblin began seeing significant results and return on investment.
To begin with, one of Payment Goblin’s biggest concern was the time consuming of on-boarding processes, but since the implementation of the new platform the turnaround time of merchant applications was drastically reduced to half. “Having deployed the ONPEX gateway we have been able to halve integration times for our merchants from an average of 4 days to 2 days,” said Justin Martin, Managing Director at Payment Goblin. In addition, “Our already impressive 84% merchant acceptance rate has risen to an almost perfect 92% acceptance rate, which adds significantly to our appeal to potential clients”, he added.
This also presented a new advantage, since merchant applications and the related open issues were now all integrated to the gateway. They could now be tracked faster and more efficiently on the system. Payment Goblin’s merchant pre-check times were slashed to only 24 hours, accelerating administrative processes.
As to their other objective, the platform has delivered the global reach that Payment Goblin needed to offer to merchants. “The true power of the ONPEX Global Acquiring Network is the ability to offer our merchants’ local pricing on a global scale”, stated Mr. Martin. The company can now help their merchants internationally and are able to instantly pick and activate the relevant destinations to their significant acquirers and payment methods.
Finally, by using the ONPEX White-label Payment Platform, Payment Goblin gained access to acquirers, payment systems and payment related products available on the ONPEX platform.
Payment Goblin is now positioned to overcome local barriers and obstacles and secure a future of smart international growth as an ambitious payment service provider offering merchant accounts and payment solutions to a global market.