All You Need to Know about Zap Pay
If you haven’t yet heard, we’ve launched our own Payment Gateway: Zap Pay. 🎉
We’re committed to continually growing our product range and improving our client experiences, so we’ve created this product with you in mind. An easy payout solution has been highly requested over the years, and it’s finally here! You ask, we deliver.
We know you’re eager to access Zap Pay and all its benefits, but first, let’s introduce you to it.
⚡️The Gate(way) to Heaven
Manual bank transfers? Soooo old-fashioned.
With Zap Pay, websites like yours will provide an automated Payout Solution to your Players. Not only will this save you time and money, but it’ll be within your control to set the minimum and maximum thresholds for automated withdrawals.
That’s not all, btw.
Through Zap Pay, you’ll also get access to Zap Cashier. This added feature replaces Terra Wallet. It has more reliable analytics than TerraWallet, meaning your credit spending will no longer be included in your Revenue Reports, as we’ll use coupons.
Zap Cashier also ensures that your Players’ Instant Wins (credit and cash) are automatically transferred to their associated wallet. It’ll also help you with managing credits and client funds. You won’t have to worry about manually working this out anymore, giving you more time to craft new comps — yay!
Zap Cashier powers our newest integrations, such as Instant Payouts, Points & Rewards, Wallets, Withdrawals, and other gamification plugins. These are our upcoming features, which you won’t want to miss!
Currently, you can access these features without having Zap Pay. But, as these features are designed to function specifically with the new Zap Gateway, you’ll need to transfer to Zap Pay in the next few months to access them. So, what are you waiting for?
⚡️How does Zap Pay benefit you?
In many ways. But that's putting it simply, so let's break all the pros down.
1. No More Manual Bank Transfers
As we've already mentioned, Zap Pay's automated withdrawals eliminate the need to manually send your Players their money. This is guaranteed to boost your customers' satisfaction — they'll receive their prize money instantly!
2. Higher Security
Each Player will undergo a bank validation process during each withdrawal. This system verifies the legitimacy of their bank account details, prevents fraud, and reduces the chance of errors. Better to be safe than sorry, right?
3. Efficient Customer Service
Good news: you'll be seeing even more of us! Zap Pay means we'll provide most of the customer support. As usual, this will take place on our Slack channels.
Complaints will also be handled more efficiently with Zap Pay, as they'll be escalated to only one Payment Provider. Currently, we're working with 16 different Payment Providers, which causes delays. Well, no more. We'll resolve issues before you can say 'Zap.'
4. New Features = More Revenue
We've already noted that our newest features will work exclusively with the new Zap Gateway. But what's in it for you?
Lots! These features will boost gamification, fun, and your revenue. They'll also bring more complex and unique integrations your way, which we wouldn't be able to deliver across the 16 different Gateways we currently use. So, we created our own.
5. GDPR Compliance
Regulations are changing in the comps world. The Competition and Markets Authority has been granted more enforcement powers to challenge GDPR and competition clients.
If you move to Zap Pay, you won't need to worry about this. Our Gateway is GDPR-compliant and has higher security than TerraWallet, lessening the effect of increased regulation and enforcement powers.
⚡️Get to Know Our Zap Pay Partners
None of this would've been possible without our Zap Pay Partners.
By building DNA Payments and Truelayer directly into Zap Pay and Cashier, we'll be able to provide you with the best customer experience ever.
DNA Payments is one of the leading payment providers in the UK. They're a caring bunch, determined to help businesses find their ideal payment solution (we can confirm they're good at this), and available 24/7 to offer support. They also work with some large UK businesses — some of which you might know… Costa Coffee ring a bell?
Their support team also uses Slack (we're so in sync!), their system is powerful, and they're always prepared. If their primary Gateway platform goes down, it's all good — they have a backup. Greatness really is in their DNA.
What's more, they already work with competition sites and are always adding more to their client base. TrueLayer, Europe's leading open banking platform, similarly specialises in iGaming. So, you can see why they're both perfect partners for us.
⚡️ What Does Your Wallet Have to Say About This?
Right now, different Gateways and Acquirers offer different rates and services, so the rates vary hugely across sites. This can also result in higher fees.
We've created a rate card based on Payment Volumes to give you full disclosure of what to expect financially. We've worked with our Payment Partner and other sites to ensure our rates were fair, reasonable, and competitive. Rates are divided into eight tiers; what you'll pay depends on your monthly revenue, but some sites might pay more in processing fees. Still, any increase will be minimal compared to the cost and time savings that Payouts will give you.
Tiers will be reviewed twice yearly, based on monthly averages, ensuring you're not paying more than you need to. Your wallet will be grateful!
If you'd like to know more about what rate you'd be paying, don't hesitate to contact us.
⚡️ Instant Payout Rates
85p.
That's how much you will pay in total per Payout. You'll be charged 60p per Payout, with an extra 25p on top for every verification. It doesn't matter whether the Payout amounts to £10 or £10,000 — it'll always cost you 85p.
This is where TrueLayer comes in. Remember them?
You'll need to use TrueLayer to allow your customers to make withdrawals. To do this, deposit funds into a Merchant Account. Funding the Account is free of charge, but you may incur bank charges at your normal rate.
Another fun fact about TrueLayer? They also offer a pay-by-bank transfer as another payment option for your customers. Having more payment options available will increase your sales.
⚡️ What Happens Next?
You apply for Zap Pay, of course! We'll contact you soon with details on how to do that and begin onboarding. In the meantime, please contact your Account Manager with any questions. Sit tight — your Payment Gateway is about to be the best it's ever been.