Payabl Review

Their services are designed to support a wide range of payment methods and provide businesses with flexible payment options.

The solution offers recurring links and individual payment links and says no coding is required. Beyond this, multi-currency accounts are also supported for incoming and outgoing payments.

Overview

Payabl fees and general costs

The cost of using Payabl will depend on the company using it, what they are using it for, and the volume of cross-border payments passing through it.

Legitimacy

Payabl was founded in 2010 and is headquartered in the UK, Germany, Netherlands, and Cyprus.

Payabl is regulated by the Central Bank of Cyprus, which gives it the ability to transfer under an Electronic Money Institution license.

In the UK, Payabl is FCA-authorized (967259) and is a registered company (13639825)

They are a private company, with no outside investments. Given that they’ve existed for the last 15 years with no issues, it is fairly safe to assume that they are secure and legitimate to use.

However, Payabl is not a bank, hence your money is not FSCS-protected. It may be very hard to recover if anything happens to the company while your funds are held in their accounts.

Products offered by Payabl

Payabl offers multiple products to fit your cross-border needs ranging from payment gateway to self-hosted checkout pages and API.

Payment gateway

One of the key offerings from Payabl is its payment gateway.

With their payment gateway, your business will be able to:

• Take payments in local and global payment methods

• Use a Payabl pre-paid card (also known as a pre-paid voucher)

• Make recurring payments

• Make payouts in 14 currencies

• Generate payment links

• Make use of one-click checkouts

• Use their pre-built payment pages (checkout pages)

This is a very strong offering compared to some competitors. For example, ZEN offers fewer features but offers cashback that Payabl is missing.

Payment methods

With Payabl, you can take advantage of making payments via multiple local and global payment systems.

The difference between the two is that local payments are usually faster and cheaper, while global payments give a bigger reach.

Depending on the payment network and method used, the transfer speed may vary slightly, like so:

*Payabl offers more local payment options.

This makes Payabl especially good for quick transfers within the EEA.

In addition, for those who are looking for the most anonymous and secure ways to pay, Payabl offers pre-paid vouchers to make payments (same as using pre-paid cards such as Paysafecard).

Recurring payments

With Payabl your business can easily create recurring payments. This is useful for businesses working with streaming, memberships, or subscriptions. All are managed from a single dashboard.

It’s a great offering since it's fully PCI-DSS compliant and you can easily create customizable and bespoke plans for your customers.

Payouts

Payabl offers 14 currencies, meaning you can make payouts to multiple countries, saving on the fees.

Payouts can be made to MasterCard SendMoney and Visa Direct cards, as well as to the bank accounts via Trustly.

Payment link

With payment links, you can easily start collecting payments from anywhere you need, be it via email, website, social media, or anywhere else online.

When your customer clicks on the payment link, they will be redirected to the Payabl checkout page with the pre-filled information based on their invoice.

You can customize the checkout page as well as pick whichever payment methods and currencies you need.

This is by far the easiest way to start collecting payments online.

One-click payments

One-click payments are similar to payment links, however, here your customer will be taken to the checkout page with their payment details filled in and saved.

This minimizes the friction between your business and the user and makes it extremely easy for the customer to pay.

One-click payments can be integrated directly into your website and only work with debit and credit card payments.

Hosted payment pages (Checkouts)

Hosted payment pages are another great way to take payments online. These are essentially checkout pages hosted either on your website or on Payabl.

This option is less customizable than others but is the easiest option if you simply need a checkout process.

Payabl hosted pages fast, optimized for all devices, comes with all the payment options and currencies, and is available in 22 languages.

Payabl.banking (a multi-currency account)

Payabl.banking is essentially a multi-currency account.

They offer 14 different currencies, provide you with multiple local IBAN accounts, and get a dedicated client manager to help you with any issues.

You can also get a corporate debit card, letting you take control of all the expenses. It is unclear whether you can get multiple cards or users, so if that is what you need, we suggest looking for an alternative such as Revolut or Zen.

Through Payabl.banking, you can convert currencies, make money transfers, and create batch payments.

POS

Payabl comes with a POS system, so you can take payments in person.

The onboarding process is quick and straightforward, you will get a commitment-free contract with a flexible payment plan based on your needs.

This is a great option if you’re just starting out and want to test it. As your business grows, the fees will start to go down as part of their payment plan.

The POS terminal itself offers all the functionality you will need:

• Built on high-speed Android 9.0 processor

• 240 hours of battery on standby

• API integrations with 3rd party systems, web browsers, mobile devices, and cash registers

• Contactless payment options

• It is PCI-DSS compliant

• Connect to your devices via WIFI, 5G, GPRS, Ethernet

• Keep track of all transactions in the dashboard

• Works with more complex merchants

Dashboard

All of the above is controlled through a single Payabl dashboard.

Within the dashboard, you will get access to the insights and the reports, will be able to handle the disputes, automate reconciliation, and take care of all payments from one place.

On the reporting side, you will get access to:

• Settlements

• Upcoming payments

• Reserves breakdown

• All transfers to and from the account

As for the insights, you will be able to see:

• Volume trends

• Reasons for any declines

• Insights into issuers

• Insights into BIN countries

• Rejection analysis

• High volume customers

• And much more

Integrations

Just like other payment gateways, Payabl integrates with major e-commerce systems, has an API, as well as offers an SDK.

E-commerce

Payabl integrates with the following e-commerce platforms:

• Woocommerce

• Magento 2

• Wix

• Shopware 6

• Prestashop

• Opencart

SDK

SDK offers a set of tools and packages that can integrate into your existing website. It is different from the API in the sense that the tools are built for you, and you just make use of them, like a boilerplate.

With the SDK, you will be able to tap into all the features of the Payabl, without needing to develop full systems from scratch.

API

API is the most versatile and customizable option but requires the most work to integrate.

Payabl API lets you integrate with your existing CMS, ERP, or other accounting systems and tap into all the features.

To learn more about the solutions offered by the cross border payment solutions, have a look at the following guides:

Payment gateways

Receiving cross border payments

Integrations: Ecommerce Marketplaces

Signing up for Payabl

Companies using Payabl

The alternatives

GoCardless

Rapyd

Flywire

Fondy