Frequently asked questions
Help Center
One stop consultation for all your requirements in the payment space. We can help you at any stage, hence join us today!
General
We are a consulting service that provides consultation for clients in all industries, from low-risk to high-risk, with a variety of business solutions ranging from company formation to software development to partnerships to licences to investors, and many more.
Our services are not limited to certain industries; we work with a wide range of businesses, from low-risk to high-risk, and from all over the world.
Years of expertise in this area have helped us to establish ourselves and build networks, which are the backbone of our business. Our ultimate goal is to learn about your specific requirements and help you achieve your objectives.
Open Banking
Open banking makes use of highly secure technologies. Here are a few additional precautions you may take to ensure your online safety:
- Find out if the app or website is regulated by checking whether it is listed on our regulated providers page or on the registry of regulatory authorities.
- Remember to read the fine print - always review the terms and conditions before agreeing to grant access to your data to an unregulated app or website.
- Check your bank account - if you see anything that doesn't appear to be quite right, call your bank or building society immediately to report it.
Learn more by visiting the website, which also has information on how to protect yourself online.
It is important to notify your bank immediately if you suspect that money has been removed from your account without your permission. It is possible that they will be able to reimburse you for your money, depending on the circumstances.
The number of banks and building societies that provide open banking services continues to expand in the UK. For the time being, only the nine major banks and building societies in the United Kingdom are obligated to make your data public through open banking services. Others, such as smaller banks and building societies, can opt to participate in open banking as well.
Foreign Exchange
Simple register your account on our website using this link: ****
We are able to transfer most currencies in the market and all across the globe.
You can drop us a message on our email or call us at this number for assistance about transferring, we’d be delighted to help you in any questions you may have.
You don’t have to wait for days or weeks for you to transfer the money, our objective is to transfer money within 24 to 48 hours, however in most cases our clients receive money on the same day.
Alternative Payment Method
To secure your privacy, we have taken all reasonable precautions and implemented cutting-edge technologies. We do not sell and transfer personal information to third parties and we understand that your security is important as it is to us.
Yes we accept merchants from high risk to low risk verticals and from all across the globe. For complete details please do not hesitate to call us or drop us an email at ****
Card Processing Solution
We process MasterCard, Visa, JCB, American Express and many more.
We support the majority of the industries from low to high risk industries except those who belong to the restricted industries such as human trafficking and etc.
3D Secure (3DS) is a security feature that offers an extra degree of security to online buying. With 3DS enabled, every online purchase requires two-factor authentication, which means no payments will be processed unless you authorise them yourself.
As part of the risk management to mitigate the risk of loss in the case of a large number of chargebacks, we have rolling reserves of 10% for 180 days.
We only offer full refunds and do not support partial refunds.
Merchant Accounts
We take pleasure in providing the most competitive pricing in the industry. To learn more about our merchant account prices, we will provide it to you once you have completed the application.
It does not take more than a month to approve an application, usually it takes only from 48 to 72 hours to approve a merchant account.
The good thing about OpenUp is we can take both licensed and unlicensed businesses.
Yes no matter where you are located on the globe we are able to provide you a merchant account here in OpenUp.
Payment Gateway
Our charges are flexible and competitive in the marketplace. Each payment gateway's pricing is different, however at OpenUp, we have fantastic developers that can help you construct the ideal dashboard based on your requirements. We can devise a pricing strategy that is specific to your requirements.
When a customer places an order, the payment gateway verifies their card information and verifies that they have sufficient funds in their account to pay you.
We support most currencies, let us know about which currencies you support and we will do our best to help you out.
Yes, because you're holding sensitive financial information when accepting payments online, the security of your payment gateway should be a top consideration. We are level-1 PCI DSS compliant and our gateway has fraud detection tools with advanced technology.
Company Setup
Yes, we provide our services to any clients from any part of the world.
Openup is completely prepared to assist you with your specific requirements, regardless of the business structure.
Yes, we will help you with everything from company formation to obtaining essential licenses, permits, and other requirements for your business to begin operations.
IBAN
Both domestic and cross-order payments can be made with IBAN.
It is not dedicated to international payments but customers can utilise IBAN when sending and receiving electronic payments, both internationally and domestically.
You will need the IBAN and BIC to transfer money to countries that adhere to the IBAN format.
Yes, you can. Some payment services will require both IBAN and BIC from the sender, while others will only require an IBAN because they can generate the BIC on the user's behalf. Because their bank generates the IBAN, the money transfer recipient should obtain this information from their bank.
While it convenient to use IBAN in transferring money, not all banks have
IBAN.
Up to 34 alphanumeric characters make up the IBAN. They are ordered as follows: AABBCDDDDDEEEEEFFFFFFFFFFFF. AA stands for 2 character country code, BB stands for 2 character check digits, C stands for 1 character national code, DDDDD stands for 5 character bank code, EEEEE stands for 5 character bank branch and lastly FFFFFFFFFFFF stands for 12 character bank account number.
Swift Banking
A SWIFT code is asked prior to sending a bank transfer to family or friends in another place or country. It generally shows which country, bank, and branch your respondent's account is in. Your bank transfer may not reach its intended recipient if you don't have it with you. Best to keep a record of it in handy.
A SWIFT code consists of eight or eleven letters and digits. They are ordered as follows: AAAABBCCDDD. AAAA stands for 4 character bank code, BB is the 2 character country code and CC would be the 2 character location code.
You and your respondents can find them in your bank statements, banks website and you can search it online. You can try to check it on this website as well: www.theswiftcodes.com
Swift Code is the same with BIC, both of these are made up of alphanumeric characters that are used to identify the nation, bank, and branch of an account unlike IBAN that indicates a certain individual account in a specific transaction.
Investor Funding
Banks are hesitant to fund start ups and in general do not finance it unlike with Investors they welcome start ups and assist them to grow their business by aiding them financial assistance.
We are able to provide services to any industry. Whether you are in the low risk, medium risk and high risk anywhere around the globe, we will assist you with the best level of service.
Obtaining a business plan is a crucial document that shows investors that your company is worth their time and money. Also it is important to note that you have a thorough understanding of your target market by providing a detailed overview of the products or services offered. Along with other requirements we will inform and assist you in obtaining funding for your company.
