Are you thinking about using VibePay as your way of making payments to a business or receiving payments as a business? Like anything related to your finances you may be left wondering if you trust VibePay if you have not come across us before or if VibePay is safe.
Lets take a few minutes to read this blog post and look at why so many already trust VibePay with their payment needs.
First things first! 🔒
VibePay is a payments app and we do things properly and this means that the first thing we did is ensure that we are regulated by the Financial Conduct Authority (FCA) and our Financial Services Registered No. is 814356.
For more details on how we treat security at VibePay you can dig even deeper here: VibePay's Security Policy
Yes, we are new and we are disruptive! 🔔
If we rewind time a little and put ourselves in the shoes of someone who needs to collect payments from customers, options were and are still somewhat limited. And one name would usually end up being the choice, PayPal.
The common problems using traditional payment solutions have been;
- Up to 4 weeks to actually see your funds hit your account, for a new small business who needs to let's say, refresh their stock this meant a new hurdle for a new business owner to grow their business
- High Fees! Imagine making your first sales and selling your products or services to only find that at the end of the month when you receive your funds the fees have taken a huge bite out of your profits, often at times putting sellers in the negative as the fees were not always clear.
With VibePay this is not the case and this may lead you to think it sounds too good to be true, and we agree if it does sound too good, then it usually is. However, VibePay is a new force and we are disrupting the ways that buyers and sellers transact with each other. Our Primary solution on the VibePay app allows you to make/accept payments instantly and with no fees at all. We do also offer VibePay for Business which has extremely transparent and low fees with no surprises.
How do we do it?
VibePay utilises a new form of Open Banking which allows you to connect your bank account to verified apps. This means that the banks that are supported have authorised VibePay to build an integration and thus allowing their banking customers connect to their banks through VibePay. If you want to learn more about open banking you can follow this link.
Why do I need to connect my bank account? 💳
When you first install and sign into VibePay you will be asked to connect your bank account, the reason for this is simply because VibePay is a financial application and this is how you make and receive your payments. Unlike traditional payment solutions VibePay does not hold your money in a 3rd party "digital wallet" and this is how you are able to receive your funds instantly into your bank account. Connecting your bank account does not give VibePay access to take payments and fees when we feel like it from your bank and you will be redirected to your online banking gateway to authorise the connection.
Still have doubts? 🤔
It might be helpful to check out our active social channels such as Twitter, we have a loyal and active community, you can also get in touch with us via social media if you need any help or have questions.
Share your ideas 📣
We love feedback and suggestions from our users! Visit the Community Forum and start a discussion and share ideas with other users!
Install or Update VibePay 📲
To install or make sure you are running the latest and greatest version of VibePay you can follow the links below;
VibePay on iOS - App Store
VibePay on Android - Play Store