Sage Pay Overview
Sage Group PLC is one of the UK's software success stories, and they are the third largest supplier of Enterprise Resource Planning (ERP) software in the world, with offices in 24 countries and listed on the London Stock Exchange.
What is interesting about them is that they first launched their fledgeling accounting software “Sage Software” for the Amstrad PCW. This was about the time I got my ZX Spectrum 64.
The ZX Spectrum 64 was an 8 bit PC......
Sage accounts came a few years later, and they soon became a “one-stop shop” for everything accounting providing everything from invoicing paper to annual subscriptions to their accounting software. They are now one of only two technology stocks to be listed in the FTSE 100 index.
In 2006 Sage acquired UK merchant services firm Protx for £20 Million. Protx (established in 2001) provided online payment services.
Sage re-branded Protx “Sage Pay”, and it has gone on to become one of the UK's most recognised payment processors with the help of Sage branding.
They now process millions of payments every month and have over 50,000 customers ranging from start-ups to the biggest corporations, and they are indeed one of the unsung heroes of the online shopping revolution.
Sage Pay Services
Sage Pay can provide you with everything you need to run both a bricks and mortar store and an online version, a mixture of both and everything in between.
Online payments, telephone payments and credit card machines are all supported, and the bundled package means you don't have to go shopping around to find a payment gateway and merchant account that will work in harmony together.
Everything you need is provided here including a “virtual terminal” which will allow you to process “person not present” transactions.
All your transactions are protected by PCI DSS compliance which is a level 1 compliance for online banking, so you are in good hands.
Sage Pay Online
There are three levels of pricing for Sage Pay Online:
There probably isn't a shopping cart worth its salt that doesn't support Sage-pay. It has integrations with Shopify, Bigcommerce, Woo-commerce, Open-cart, Magento and Prestashop just to name drop a few.
Kashflow accounting software supports Sage pay, and it is easy to set up using the card options settings from within the Kashflow administrator panel.
How It Works
To be able to accept payments online you will need the means to be able to display a product on your website (shopping cart software). Then you need to have a mechanism by which customers can pay for the product (payment gateway)
And finally, you need a Merchant Account into which you pay the funds.
Merchant accounts can be hard to obtain through traditional high street banks because of security and fraud. Never mind credit scoring.
This is why third-party payment processors partner with merchant account services to provide a complete solution.
Sage Pay uses Merchant Services provider Elavon to offer Merchant Accounts. When you process the credit card transaction online, the funds are transferred to your Merchant Account, and then a batch process clears the funds to your bank account. This process usually takes two to three days.
There is no contract and no setup fee for using Sage Pay services.