What is GSPAY? GSPAY Review, Features

GSPAY is a British credit card third-party payment company. It is a foreign trade payment method that specializes in the international counterfeit brand market and is free of account opening fees. It has quickly gained recognition from counterfeit brand merchants and became the world's largest counterfeit brand payment channel in 2008. Since entering the Chinese market in the same year, 80% of China's foreign trade counterfeit brand merchants have chosen GSPAY as their preferred payment channel.

Covered industries

GSPAY mainly provides offshore account opening and third-party collection service solutions for international traders. The industries involved include: conventional e-commerce, software, consumer goods, tourism, etc.

Target Group

Personal foreign trade, SOHO foreign trade, corporate foreign trade websites, retail websites, wholesale websites, and B2C websites can all use GSPAY's VISA and MASTER international credit card payment collection channel services.

Features

· Provide Visa 3D Secure and Mastercard SecureCode;

· Accessed by XML API interface or managed order page;

· Accepts major credit cards;

Secure server (using SSL certificate);

· Complete product services, membership management, and freight management;

· Support shopping cart systems: OSCommerce, ZenCart, CubeCart, Shop-Script;

Customized shopping cart and order page design;

Integrated reporting and password management tools;

Applicable to any country;

Advanced protection system.

cost

1. GSPAY is usually settled once a week, with the first settlement being deferred by 17 days.

2. Handling Fee: GSPAY will charge a fee of $0.20-$1.00 per transaction based on the bank's acquiring bank's credit card transaction service.

3. Refund Fee: GSPAY will charge a fee of $0.50-$1.00 for each refund, depending on the requirements of the bank acquiring bank.

4. Retention (Reserve Fund) Due to security deferral, GSPAY will hold 5-10% of turnover for a period of 180 days.

5. Chargeback Fee: GSPAY charges a fee of $35.00-$50.00 (depending on the bank acquirer) for each transaction we process on behalf of a client, which is borne by the client.

6. Wire transfer fee: GSPAY charges merchants/members a wire transfer fee of $40.00 USD each time.

7. Payment: GSPAY settles payments weekly (some banks may have a 10-14 day delay depending on regulations), and the minimum payment amount is $2000.

Advantages

1. Fund security

GSPAY uses advanced SSL encryption to ensure the security of customer information. Three servers work non-stop to ensure that customer credit card information submission and bank feedback can be completed within seconds. So far, GSPAY has not had any problems with customer credit card information leakage or any threats to customer information security.

2. Smooth flow of funds

GSPAY has a short payment cycle, and automatically transfers money to customers after the balance reaches $2,000. GSPAY's collateral is revolving, which ensures the smooth flow of customers' funds.

3. Account application is guaranteed

GSPAY has good cooperative relations with many banks in Europe. It can apply for accounts at different banks according to the requirements of merchants, making the application success rate much higher than that of individual applications. It only takes a few days from application to formal use.

4. Low handling fees

GSPAY's rates are relatively low among its peers. All of GSPAY's charges are clearly listed, with no hidden charges or trap charges.

5. Guide installation and use

Users do not need to purchase any software or space, GSPAY's technical service representative will guide you to install and use. GSPAY supports multiple shopping cart systems, and users can easily check the order payment status in their accounts.

6. Translation services

GSPAY has professional translators to help customers translate letters from both sides to achieve barrier-free communication.

Hot Events

- In August 2010, GSPAY’s official website announced that it would no longer support transactions involving counterfeit goods, but the merchants ignored it because they did not freeze their accounts.

-In August 2011, GSPAY, the largest counterfeit payment channel, was exposed to have frozen merchant funds and was likely to abscond with the funds. According to a merchant on Baidu GSPAY’s forum, its business bank is actually in Latveria. A merchant tracked its IP address and found that its main office staff was concentrated in Russia. “This company often fights guerrilla warfare. In 2008, it had similar problems of freezing several small merchant accounts. Now it is ‘wanted worldwide.’” Zhou Ning believes that freezing funds in the name of fines is a common method of GSPAY. Now its purpose is very obvious, that is, to abscond with the funds.