PaySpaceLV, also referred to as PaySpace, is a payment service provider based in Latvia. It offers merchant accounts, credit card processing, and other payment solutions to all businesses. It customizes its services based on each merchant’s business needs.
Below is an overview of merchant services offered by PaySpaceLV:
PaySpaceLV is one of the only payment providers that offer company registration. It aims to help businesses become successful, and this includes its early stages of registering and setting up shop.
Once a company is registered, PaySpaceLV can help open a merchant account for them. It takes advantage of its network of acquiring partners. It includes 15 CIS-based banks, five Chinese banks, 10 EU banks, and 30 other global banking institutions. This allows the company to offer the best solutions for each merchant.
PaySpaceLV is most known for its credit card processing service. Merchants can accept all major credit cards around the world. This includes MasterCard, Visa, American Express, JCB, Discover, China UnionPay, and more. They can also accept international payments from over 80 currencies in over 150 countries.
The company’s smart payment routing system assures merchants of efficient processing and fast fund transfers. Credit card processing can be done via an online store, phone, and on the go. PaySpaceLV provides the software and a virtual terminal to accept payments.
Apart from credit card payments, PaySpaceLV also enables merchants to accept alternative payment methods that customers may prefer. Its long list includes PayPal, WebMoney, Yandex, Ideal, Sofot, SEPA, POLi, Paysafecard, Klarna, MisterCash, Qiwi, GiroPay, EPS, and more. Merchants can accept Bitcoin as well. Keep in mind that available options depend on where your business is.
PaySpaceLV offers different options for integrations. For one, its system is compatible with popular shopping carts and CRMS such as PrestaShop, Magneto, WooCommerce, Limelight, Konnective, and more. Secondly, merchants can integrate through easy-to-use APIs. Other options include HPP (hosted payment pages), CMS plug-ins, and virtual terminals for MoTo orders.
PaySpaceLV’s system is rich in security tools and advanced technology to prevent chargeback and fraud. First and foremost, merchants are given direct merchant IDs and unique billing descriptions. The company also works with MaxMind, an industry leader in fraud detection and IP intelligence. Merchants will also benefit from built-in technology to predict chargebacks and manage disputes.
Other security features implemented by PaySpaceLV include 3D secure processing, Verified by Visa, Mastercard SecureCode, Ethoca, and more. The company is also PCI-DSS certified.
Its system also includes other payment features like automated and recurring billing, comprehensive reports, batch processing, one-click payments, and more.
PaySpaceLV also provides a white-label payment solution. Merchants can use its payment gateway with their branding. It includes the same robust features like payment processing, anti-fraud and chargeback protection, and technical support.
An online search reveals four Trustpilot complaints about PaySpaceLV. Below is a summary of the issues encountered.
One review complained about withheld funds worth thousands of dollars. However, PaySpaceLV replied and concluded it was an issue with the merchant’s bank.
The other complaints were related to unprofessional customer service and nonfunctional merchant services. They claim that employees were hard to reach or unhelpful in addressing issues. One mentioned that the company did not deliver its merchant services as promised. This happened after he exerted effort and spent time changing his system.
It is worth noting that the company has responded to all complaints. It apologized for some mistakes and proposed solutions moving forward.
PaySpaceLV is not an accredited company by the BBB.
It does not have any BBB reviews, nor does it have a BBB profile page.
PaySpaceLV is a legitimate company based in Latvia. Not much is known about its history or ownership, but you can find public information about its address and contact details.
PaySpaceLV has a strong online presence, which further proves its credibility. It appears in several PR articles, online forums, and independent review sites. Ikajo ranked it sixth in its list of top 10 Paypal alternatives. Furthermore, it has a ScamAdviser trust score of 86 out of 100.
The negative highlights are due to certain information on its website, which is not telling of its legitimacy or professionalism. PaySpaceLV also has several customer reviews, all of which are generally favorable.
PaySpaceLV has a good reputation based on customer reviews. It has a 4.3-star rating based on 23 Trustpilot reviews. Nineteen reviews gave the company 5 stars, while a few had bad experiences as mentioned in the Complaints section above. On Facebook, the company has two reviews with a 5-star rating.
Merchants have high praises for the company’s payment processing services and security tools. They also highlight its reliable customer service, especially when facing issues. Many also recommend it as a good option for high-risk businesses. Most reviews seem to come from merchants who have been with the company for years.
Overall, PaySpaceLV seems to be a worthy consideration for high-risk industries. It offers a wide range of payment methods for payment processing. Moreover, it offers robust security features that high-risk businesses can benefit from. These claims are further proven by its high satisfaction ratings among its merchants.
