Dublin, Ireland-based OmniPay, founded in 2000 and owned by First Data, earned a Judges Choice award for Best Processor this year. Supporting 5.4 million merchants in 73 countries and 147 currencies, OmniPay’s single-integrated, end-to-end platform offers domestic and cross-border processing, multi-currency processing (e-commerce and MOTO), and dynamic currency conversion processing. Offering dynamic geographical location functionality, OmniPay’s platform is particularly applicable to card-not-present transactions.
With a processing platform that can be tailored to match the varied outsourcing needs of merchant acquirers, the breadth of OmniPay’s operability is further enhanced by its standing as the only global platform certified with the Card Associations to process authorizations, clearing/settlement and disputes in every designated geographical region.
With many of its transactions conforming to the payments aggregation model, OmniPay’s processing platform carries with it quite the number of pluses for acquirers—for example, speed to market and access to new business verticals. Additionally, the company makes it a priority to provide significant cost savings to acquirers looking to outsource processing.
The company’s ability to offer clients the freedom to choose four different currencies when processing transactions is another robust feature of the platform—one that helps to minimize complications and foreign exchange exposure involved in multi-currency processing. And its assessment of interchange fees during transaction loading enables clients to predict settlement values before settlement occurs, which, in turn, ensures that acquirers bill at least what they will pay in interchange.
To date, OmniPay processes transactions for 36 global merchant acquirers, with customers spanning the US, Europe, the Middle East, Asia and Australia.
In 2013, the company reached a $100 billion transaction value.