What is CorvusPay? CorvusPay Review, Features

CorvusPay is a licensed payment institution of the Croatian National Bank that provides payment initiation services, which allow customers to make payments directly from their accounts to the accounts of merchants at online points of sale.

About CorvusPay

• CorvusPay, which provides IBAN to IBAN card payments in online shops, is the first Croatian fintech company to receive a license from the CNB to provide payment initiation services within the EU PSD2 framework.
• CorvusPay service provides availability, stability, security, simplicity and quality.
• Serving more than 2,000 online stores and mobile applications, CorvusPay continuously monitors the trends and needs of retailers and customers in e-commerce by improving existing and developing new features.
• The CorvusPay service can be quickly and easily integrated into online stores, and ready-made plugins are available for popular platforms.

FAQ

Q: Why is CorvusPay better than other similar services?

A: Through our services, we particularly emphasize:

• Since 2012, we have held PCI DSS Level 1 certification, which represents compliance with the highest standards set by the leading card associations.
• We are a solution for specific business models and traders’ needs, they choose and pay for the features they really need, with no hidden costs.
• On our billing system we support integration of online stores and mobile applications.
• We have our own solution to prevent card misuse (Cardea) and support the 3D Secure standard when verifying the identity of the card user.
• Integrating traders into our system does not require additional programming knowledge. We have our own plugins for popular platforms.
• We offer support in multiple languages, different currencies, all popular card brands and meal sales.
• We are integrated into 12 European banks. We offer merchants the choice of multiple banks to accept cards, avoiding the cost of interchange fees and reducing bank acceptance fees due to lower transaction costs. We are integrating additional banks.
• We have high-quality customer support, with the help of which card payments in the online store can become active in a very short time. It is also available during the use of the service, which is monitored 24/7/365.
• Ensure system stability through regular maintenance and upgrades, and monitor retailers' needs and trends by developing new features.

Q: What is the price of CorvusPay service?

A: The minimum monthly fee for the service is HRK 220,00 + VAT, referring to a monthly turnover of up to HRK 44.000,00; when the monthly turnover exceeds HRK 44,000.00, no minimum fee is calculated, but only a percentage fee of 0.5% is calculated based on the value of the monthly turnover; for monthly turnovers exceeding HRK 500,000.00, special fees may be agreed; additional features such as tokenization, PayByLink, etc. are subject to additional charges for successfully completed transactions. The integration cost is 0 HRK.

Q: What is the transaction process through the CorvusPay system?

A: The process of conducting transactions through the CorvusPay system is as follows:

• A customer in an online store chooses a product or service that he wants to pay for by card.
• The buyer will be redirected from the merchant's page to the CorvusPay payment form (page), where he enters the data necessary to realize the card transaction.
• CorvusPay sends an authorization request to the bank.
• The bank sends a response to the authorization request on CorvusPay.
• CorvusPay redirects the customer to a merchant-defined cancellation or success URL depending on the transaction outcome.

Q: Does CorvusPay provide the function of creating payment links?

A: CorvusPay has a PayByLink module that allows merchants to use an additional billing channel, if a customer creates an order and the trader cannot deliver before the deadline for completing the order expires, or if the merchant sells products/services for which he does not necessarily have an online store. Through the trader's user interface, the trader can quickly and easily create a link to send to the customer via email, SMS, Viber, Whatsapp or other similar means. By clicking on the link, the buyer will open the payment form, where he will enter the card data or make a payment. In addition to the basic functionality of linked payments, there is also the reusable PayByLink feature, which allows the same link to be sent to more customers, for example in advertising campaigns. We also support PayByLink tokenization - storing card data as a guarantee for possible future debits with the customer's consent (useful for the travel, car rental industry, etc.).