FREQUENTLY ASKED QUESTIONS
What is WebbPay Unique Selling Proposition?
Our main advantage over our competitors is that we integrate systems together to gain synergies where 1+1 is more than 2 separate systems. We make the journey easy and faster from applications to deployment.
For example, would you rather pay for a separate Storehub POS system and Maybank terminal than a McDonald’s integrated POS system if the total price is similar? Not to mention that you have to DIY your POS system and go through tedious and slow approval processes.
Our terminals work seamlessly with our POS systems allowing enterprise grade solutions to be accessible to SMEs as a standard feature at no additional costs. Our typical deployment only takes 14 working days.
How does WebbPay help merchants save money?
Technology service providers typically specialize in one area and do not look beyond their own area. This requires additional manual processes to operate the different systems.
For example, if you use off the shelf solutions, e.g. Storehub POS and Maybank terminal, once you have finalized the customer order on the POS systems, the cashier needs to key in again the total amount on the payment terminal.
If the cashier keys in the wrong amount on the payment terminal, this causes accounting issues as the accountant is not able to reconcile. So it is a standard practice that the cashier prints a receipt from the POS system, another receipt copy from the payment terminal and keeps them in the drawer. After compiling the receipts, they are sent to the accounting department just in case there are reconciliation issues. If there are lost receipts, further mistakes from the accountant, etc. there is no fallback processes.
As long as there is human involvement, there will be endless possible mistakes to compensate. Our approach is to eliminate this hidden costs by making sure that the POS and payment terminal work together as a single integrated system. Do you see McDonalds print another merchant copy of receipts from the POS and payment terminal?
Why is WebbPay able to match or provide better transaction rates?
WebbPay is focused on providing more value to our customers through the solutions we offer. As such, we look for strategic business partners who sees the bigger picture to provide more value than just competing on price. The transaction rates offered is at our principle’s discretion according to the financial risks that they manage.
We believe in making our solutions accessible and to grow with SMEs. If our business model is to primarily make money through transactions, then it is only natural to go after businesses with huge transaction volume and transaction values. This is not consistent with our mission to help SMEs. As such, we do not practice imposing a markup which indirectly allows us to have a share in your revenues. We assist our merchants to get the best rates possible.
Why is there an annual rental / subscription when there is also transaction rates?
Transaction fees are charged by licensed payment system providers, for example Visa / Mastercard, e-Wallet providers or internet banking platforms, as they manage the flow of data and money between banks, customers and merchants. These systems need to be certified, highly secure, and compliant to regulators and industry standards. Each time a transaction is made through our devices or systems through the licensed payment system providers, an interchange fee is imposed.
Our business model is to charge subscription of the solutions we provide but take it upon ourselves the cost of integration between systems as it is a one-off investments. Thereby passing on the savings to the customers. Transaction rates is not our main source of income. If your business grows in transactions, your cost base structure do not change, allowing SMEs to scale that much faster. We remain consistent to our mission to help SMEs by giving them access to our solutions at affordable prices.