My friend wants a new e-commerce site and one of his requirements was, of course, a payment gateway. I referred to him some possible online payment systems. I also explained some experience I’ve had with 2checkout. After our discussion and several days of research, he seemed to be still unsatisfied with what was available in the Philippine market. Eventually, one of the options I suggested to him was yespayments. I’ve seen the presentation of Mr. Paul Hubbard of Yespayments at the last e-Services conference and I thought it was worth looking at.
Based on some research, here are some of my insights on it:
- Mr. Hubbard is very professional and direct to the point. He essentially gives the lowdown on the yespayments service. It was basically an Internet Card Payment Gateway.
- The company itself seemed to value data/information security. The company and its services are regularly audited and checked to ensure that they meet international security standards.
- Yespayments is keen on getting clients that adhered to their own principles in data/information security. To be short, they were quite paranoid. This was justified. They were in a business where trust in the system was essential. If that trust broke down, even in some small way, their business would be in jeopardy.
- They were rather strict and they screened their clients very well. They just want to be sure that each business they work with are registered with the SEC.
- It seemed that they really preferred to work with clients with established businesses rather than startups. One of the requirement they were looking at was that businesses should be earning at least US$6,000 monthly.
Personally, I would recommend yespayments for big, well-established corprations and businesses. Small enterprises and startups, unless backed up by a larger business entitiy, might have some trouble getting a yespayments service.