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Specialized payment gateway: essential in the digitization of insurance companies

In 2020, no business sector has been spared from forced digitization, from the most analog to those that already had one foot in the internet, as is the case with insurance companies. For insurers, the time has come to work in 100% digital without ceasing to offer the customer a close and efficient service, but the time has also come to comply with PSD2 and offer secure payments as well as efficient for the client and the company itself.

For this reason, as experts in online payments, we want to highlight the payment needs of insurance companies, their pain points and how the appropriate payment gateway can provide a solution to all of them while facilitating the digitization and compliance with PSD2 by insurers.

What problems does an insurance company face when collecting and compensating its clients?

  • Direct debit of payments is slow and confirmation of them even more.
  • A direct debit payment can be reversed in a single click if it raises questions.
  • Card charges require customer confirmation to comply with the SCA (PSD2).
  • An expired card can stop charges and lead to costly procedures and even the loss of the customer.
  • Call centers need to comply with SCA, PCI and gain efficiency.
  • The payment of compensations is slow and this involves costly procedures and dissatisfied customers.

Luckily, at PaynoPain we have created a payment technology specialized in solving all these problems and facilitating the automation of collections, compliance with security regulations and the satisfaction of insurers’ clients.

Paylands payment gateway allows:

  • Collections and confirmations of payments in real time.
  • More steps to carry out the reverse of a charge.
  • Programming the automatic collection of fees without user interaction and complying with the SCA.
  • Automatic renewal of expired cards.
  • Call centers with specialized charging technologies such as IVR PCI.
  • Possibility of paying compensations in minutes with Visa Direct and Mastercard Money Send services.


Thanks to card charging through the tokenization of payment data, many of the problems associated with charges in insurance companies are solved. If we also add the multi-channel billing (email, SMS, WhatsApp…), especially by IVR in call centers (Interactive Voice Response), and efficient tools such as Visa Direct and Martercard Money Send, we get a perfect payment platform for this sector.


This is the case of Paylands, which also has the most advanced anti-fraud tools, a control panel with statistics and a wide variety of functionalities, and a close and fast 24/7 customer service.



If you are looking for the best payment service for your insurance company, inform yourself without obligation about how we can help you:


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    5 reasons to open an online store if you already have a physical store

    These days everybody is talking about the importance of having an online store, even if your company is an SME. But the truth is that sometimes, when you already have a physical store that works well, it is difficult to see reasons to dedicate the time and effort necessary to create an online store or, at least, a website about the company.

    Actually there are many compelling reasons to have an online presence, whatever the business area you work with. And with the aim of clarifying ideas and giving the necessary push to those who still do not have their own website, we have compiled the 5 main reasons to open an online store if you already have a physical one:


    1. Do not lag behind the competition

    If they haven’t already, it is a matter of time before the direct competitors of a physical business create an online version of themselves. And while it is tempting to wait for this to happen to follow in their footsteps, the ideal if you want to have an advantage over the rest is to be the leader in the digital race and not a mere follower.


    The time that an online store has been open is decisive in its level of traffic and its reputation, therefore the only way to stay ahead of the competition is to open your own website as soon as possible.



    2. Reach a much larger audience (even international!)

    No matter how many customers a physical store has, it will always be geographically limited to its neighborhood, city or, at most, region. Taking the virtual leap means being able to reach as many users as you want, you just have to plan the logistics to be able to deliver the products or services nationally or even internationally.


    In addition, the fixed costs of an online store are very low, so if the expected results are not obtained as quickly as desired, this will not be an economic challenge for the business.



    3. Sell without schedules

    More and more, customers are getting used to buying online for the convenience of being able to do it from home and at any time. Work hours do not always leave free time to go shopping in physical stores and this also favors online sales.


    Therefore, an online store better adjusts to the schedules of those customers who cannot go to the physical store and serves as a complement, allowing sales 24/7. In this way, the workload in the physical business is also reduced and both worlds can even be connected allowing the collection of products purchased on the web in the store.



    4. Cheap and effective advertising

    Advertising campaigns are much cheaper on the internet than in traditional media such as press or television. And the truth is that, today, the audience that can be reached through this channel has nothing to envy the rest of the media. Ads can be created on social media, Google Ads or online media for the desired financial investment, however it is essential to have a web page to which to direct the traffic that is achieved in these campaigns. And if users can buy directly from an online store, the chances of success grow exponentially.


    In addition, online marketing campaigns have the added advantage that, if they are well configured, they have a very high profitability and, in addition, it is possible to know exactly where each client has come from to adjust the parameters and the investment.



    5. Virtual stores are immune to confinement

    Given that we are in the midst of a health crisis due to the COVID-19 pandemic and that many businesses have suffered great economic losses due to the confinement experienced, it is inevitable to take this point into account when making a decision. Those businesses that had an online version have been able to continue working and have focused on virtual sales to alleviate possible losses, while those that only had a physical store have had to close and stop all economic activity.


    We do not know if this situation will happen again in the future, but it is certainly something to consider when deciding to create an online store for our business.


    At PaynoPain we have been working for 9 years with companies that sell products and services online and providing them with comfortable and attractive means of payment, both for themselves and for their customers, for really affordable prices.


    Find out without obligation how we can help you to get online payments and don’t spend another day without an online store:


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      What trends in payment methods will emerge in 2021?

      The pandemic has accelerated the digital plans of most companies, reaching digital transformation plans that were initially going to take years to be carried out in a few months. Ecommerce has been strengthened by the pandemic and the online sales channel has become the main one for many businesses. But this is not the only trend in means of purchase and payment that COVID-19 has brought, several more have already been detected and their moment of consolidation will be in 2021.


      PSD2, payment initiation and a-commerce

      There is an event that many have forgotten but that will condition the world of online payments as much or more than the pandemic: the entry into force of PSD2. From the end of 2020 the authentication of the online buyer must be reinforced, but there will be a way to be able to make recurring charges, necessary for a-commerce (automated commerce), without the user having to identify himself each time or, at least, in a much faster way: the initiation of payments.


      And a trend that will inevitably be associated with double authentication is going to be the use of biometric features for the approval of payments. A touch with the fingerprint, the scan of the iris or the facial features will serve as confirmation to complete the payment quickly and safely for the user.


      Unified Commerce

      With the widespread digital leap that we are experiencing, the next logical step towards efficiency is to integrate all sales channels to offer a better customer experience, avoid duplication and optimize costs. To take this fundamental step, there are different technologies that will help businesses to centralize their sales, such as a payment gateway that works both offline and online but also includes social selling or apps and unifies all charges, data collection and statistics. Also, card tokenization will guarantee the security of payment data even in multi-channel mode.


      Ewallet and loyalty apps

      Although cashless payments have skyrocketed, the possibility of reducing intermediaries and that the customer can pay directly in a business’s own app is even more interesting. This is especially interesting for restaurants and cafes or companies that require great loyalty efforts, such as gas stations and service stations. Creating your own app serves to open a direct communication channel with the customer, it allows him to adopt the power to complete the entire purchase process practically independently and, in addition, it can include loyalty tools such as point cards or discount coupons . A wide range of possibilities that the pandemic has made much more necessary and that will begin to become popular from 2021.


      At PaynoPain we are experts in online payments and we are helping many Spanish and international companies to comply with the regulations and start working with the payment tools that we have seen.


      Find out how we can help your company to digitize and enjoy a more efficient payment system:


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        What role will online payments play in the new post-COVID-19 normality?

        The health crisis caused by COVID-19 has triggered numerous economic and social changes that, in all likelihood, will largely remain in the new postcoronavirus normality. As we have talked about several times lately, businesses that didn’t previously have an online presence have been forced to virtualize in order to continue offering service to the confined population and not having significant economic losses.


        For their part, those businesses that didn’t have an online store or the possibility of creating one at the moment, have found an intermediate solution in our pay-by-link service, through which their customers have been able to order and pay by contacting them directly by different online channels. Ultimately, it’s a way to take the digital leap with minimal investment, an affordable option for any business.


        As expected, during the confinement online purchases are estimated to have increased by 55%, being the only way to continue providing goods to citizens while maintaining social distancing and security measures established by the authorities. But it’s also anticipated that this number will never return to what it was before quarantine, initially for fear of contagion and, in the long term, for the total acquisition of the new buying habit.


        On the other hand, businesses that have been able to remain open, such as supermarkets and grocery stores, have seen the use of card and contactless payments increase significantly, due to consumers’ fear of using cash because of its large bacteria transmission capacity (not viruses). Not surprisingly, the cash withdrawal fell 68% in March. Contactless payments have been especially favored by the bank’s decision to increase the payment limit hereby from € 20 to € 50 without the need to insert the pin into the dataphone. This decision has been given by the recommendation of the European Banking Authority, with the aim of avoiding physical contact with the terminals as much as possible and thus reducing the possibility of contagion.


        All these measures and new habits acquired reaffirm a trend that had been going on for years, the trend towards the total digitization of payments and the residual use of cash. And, although the classic means of payment will rarely disappear, the truth is that giving the maximum possible payment options to the customer is today as the only way to avoid losing sales. For this reason, at PaynoPain we work to create innovative, very secure payment methods that meet all needs.


        Sources: Ecommerce News, Europapress

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        Marketplaces and sharing economy platforms: 2020’s challenges and Paylands as an all-in-one solution

        Expert post: Jordi Nebot (CEO)


        Although many of us have used this kind of platforms at some point, not everyone knows exactly what a marketplace or a collaborative economy platform is. Online markets and marketplaces are online platforms created by a company that acts as a neutral third party to put buyers and sellers in contact: what we could summarize as a “store of stores”.


        In the case of the collaborative economy, these are digital platforms that function as a meeting place for users who interact to sell and/ or buy products or services between them. Both types of businesses have in common that they usually function as intermediaries in the flow of payments between buyers and sellers.


        Marketplaces and collaborative economy platforms increase on the Internet in number and importance day after day. This implies new challenges associated with growth and legal regulations, that has inevitably put the focus on the payment processes of this kind of virtual business because of its particular situation.


        However, many of these challenges don’t need to be addressed individually, with the ineffectiveness and cost overruns that this entails. As a payment technology specialized in marketplaces and sharing economy, such as Paylands, it’s a unique solution for many challenges. Let’s see the biggest ones:


        – The exemption of the commercial agent is no longer useful. After the recent entry into force of the new European payment regulations PSD2, it has been stipulated that this type of business that functions as intermediaries between two parties will no longer be eligible for this exemption.

        Thus, any marketplace or sharing economy business that doesn’t act exclusively on behalf of the seller or the payer and that also owns or controls funds, will need a payment entity license. Paylands allows compliance with banking regulations, being a simple and effective solution for this problem.


        – The management of fund movements needs to be automated. When one of these companies starts to grow, the automation of different types of fund movements is essential for productivity. These are businesses with numerous users in both parts of the sales channel and many concepts to consider, such as commissions, transportation costs, user identification… Concepts that the payment provider must automate in an efficient and convenient way for the customer .


        – An API is required to facilitate the KYC (Know Your Customer). Security and user identification is especially important in the case of sharing economy platforms. In this type of business, where the seller can also be the buyer, those users who offer services and are going to be financially rewarded must be identified and validated, what is commonly known as performing the KYC, before receiving the funds and, therefore, the payment technology must be able to operate under these circumstances through a specific API.


        – Internationalization must be a simple process. A marketplace or a sharing economy platform can (and usually will) be born at a national level, but it’s possible that in the medium term it will take the international leap. For this reason it’s important to have a scalable payment technology from the outset, with the ability to operate and manage the funds in different countries.

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        How do millennials prefer to pay? And the generation Z?

        A lot has been written about millennials, also called generation Y. They are those young people born between 1981 and 1993, who have grown up with technological changes and the popularization of the internet. And it‘s precisely because of this technological exhibition that has led them to have very specific characteristics as consumers and the most digital preferences when paying.

        However, against all odds, the generation Z has arrived having very different preferences from their predecessors. These young people, born between 1994 and 2010, have already grown into the technological boom, when more information was already available on the dangers to which they were exposed, which has also given them specific characteristics but, as we have said, very different from those of millennials.

        These two generations are currently the main target of consumer marketing, as they combine all people who are currently between 19 and 38 years old, that is, those who begin to have economic capacity to consume independently and those who consume the most (in Spain, from 38 to 44 years old).


        How do millennials prefer to buy and pay?

        Millennials are the ones who buy the most online, especially through mobile phones. They don’t like to pay on credit, but they do want to have different forms of payment to choose from, the debit card being their favorite.

        They like to be able to compare and choose the best option in each case, so they value the opinions of other customers and any data that helps them in their decision making. They’re demanding in their online purchases, so it’s best to offer quality products and discounts whenever you have occasion.


        How do you prefer to buy and pay the Z generation?

        Although they have some points in common with the previous generation, in this case we see a fundamental difference: far from preferring to make purchases through the smartphone or even the computer, the youngest choose physical stores to achieve greater immediacy and an experience of purchase shared with friends. The debit card (physical or digital) is also their favorite choice to pay.

        In common with millennials we find that they are also very demanding and like to compare, so the way to get their attention with a website and get the sale will be to offer them an offer that they cannot refuse: quality products, with fast delivery, endorsed by other buyers and, if possible, at the best market price.


        But, if both generations have something in common, it’s their requirement in the level of security and trust that an online business should transmit. Therefore, it’s very important to put effort into all the details that will make your site offer the right image.

        Choosing a payment gateway that’s integrated into the website, has a good security system and doesn’t require many steps to complete orders is essential. This is the case of  Paylands payment gateway.


        If you want more information on how to make your online business more attractive to millennials and Z generation, find out about Paylands through this form.


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