Frequently Asked Questions

+ What type of customers does Silkpay serve?

For companies, Silkpay helps merchants accept 30+ payment methods online and in-store. Open a business account to start accepting payments in your business.

For individuals, Silkpay offers the Visa and Mastercard Virtual Prepaid Card for secure and convenient spending worldwide. Get your card now.

+ Which countries does Silkpay accept merchants from?

As long as your company is registered in Europe or America, you can open an account at Silkpay and accept the most popular payment methods (Alipay+, WeChat Pay, Visa, Mastercard, Paypal, UnionPay, SEPA...) from all countries in the world.

Through our partnerships, we are currently expanding our business worldwide to be able to onboard merchants from all over the world.

+ Does Silkpay accept merchants in high risk industries?

We do accept some high risk merchants such as high-end jewelry shops or merchants selling luxury products at a high price. However, we do not accept high risk merchants from other categories such as illegal activities of any kind.

+ What payment methods can merchants integrate with Silkpay?

Silkpay offers more than 30 payment methods acceptance to help physical stores and e-commerce stores in Europe accept the most popular payment methods worldwide: Alipay+ (which includes 16+ Asian e-wallets), WeChat Pay, UnionPay, Visa, Mastercard, CB, PayPal, Google Pay and many more.

Notably, Alipay+ allows merchants to accept more than 16 e-wallets across Asia, such as Kakao Pay (South Korea), Line Pay (Thailand), Touch’n Go (Malaysia), Dana (Indonesia), and many others, all with a single integration.

Check out the list of all our payment methods.

+ Why accept payments via WeChat Pay or Alipay+?

If you already have a portfolio of Chinese customers or if you want to work with this clientele in the near future, it is preferable to offer a solution that allows you to collect their payments so as not to be overtaken by competitors. In China, 50% of physical payments and 75% of digital payments are now made through Alipay and WeChat Pay. In addition, offering these payment methods gives merchants access to Marketing tools offered by Alipay and WeChat / WeChat Pay.

+ What is the price structure for payment?

Our pricing structure is based on a commission per transaction. Silkpay guarantees a competitive pricing compared to competitors. Additionally, merchants are not committed and can close their account at any time.

For the price of Alipay and WeChat Pay, send us an email to contact@silkpay.fr for a detailed one-on-one discussion with our experts. Check out payment methods and our fees for each one.

+ What's the maximum amount per transaction for UnionPay, Alipay and WeChat Pay?

• UnionPay:

Cloud QuickPass (Yunshanfu), also known as UnionPay QR code payment, has its transaction limit primarily determined by the payment limit of the customer's UnionPay card.

To process a large transaction, we suggest using the UnionPay POS terminal, which does not have a limit on transaction amount. The limit is based on the payer's UnionPay card. For example, a merchant can accept up to 300,000 euros per transaction via the POS terminal.

• Alipay:

If the payer is in China, the static QR code can only be used for payments up to 500 Euros. For larger transactions (up to 25,000 Euros per transaction), the Alipay online channel can be used, including options such as PaybyLink, API or plugin.

If the payer is outside of China, the static QR code can be used to make large payments (up to 25,000 Euros per transaction). The Alipay online channel also allows large transaction amounts.

• WeChat Pay:

Using WeChat Pay, a payer can make high-value transactions using the static QR code, regardless of whether they are in China or abroad. Typically, transactions of a few thousand euros are possible. WeChat Pay has not officially announced a limit, but the maximum transaction amount appears to be around 25,000 euros per transaction. However, if a transaction amount is particularly high, WeChat may contact the payer to ask about the payment's purpose. This is different from Alipay and UnionPay, which generally do not make such calls.

+ Are there any exchange problems during the transaction?

You don't need to worry about currency exchange problems. Customers pay in the currency they use, and you (the merchant) can receive payments in the currency of your account. If you open an account with Silkpay, you can accept payments from customers all over the world.

+ How long will it take to get paid after the transaction is completed?

It takes T+1 (via POS machine) or T+3 (via SoftPos, PaybyLink and static QR code) working days for the merchant to receive the payment. This means for a transaction made on a Monday, the merchant will receive the payment on Tuesday(via POS machine) or Thursday(via SoftPos, PaybyLink and static QR code).

T: Transaction day

+ How to open an account？What documents are required?

Merchants can open an account online or contact us at contact@silkpay.fr sending us your request and document. We will get back to you as soon as possible. You will be then asked to provide the following documents:

• Your company’s registration certificate dating from less than 3 months
• The articles of association (signed and sealed)
• Identification documents and proofs of address (administrative invoice for example) of legal representative and shareholders (holding > 25% of capital or voting right)
• The company’s bank account number.
• An image of the physical store, if you operate a physical store. A screenshot of the website and an image of your office, if you operate an online store

We collect your company's bank account number because it is necessary to send you the payments received from your clients. All the collected bank account information is encrypted and highly secured to protect your data.

If you are an association or an auto-entrepreneur or if you have any questions about the documents to provide. Please mention it in the email.

+ How long will it take to open an account?

About 3 to 7 working days will be required to complete an account opening for Alipay+, WeChat Pay or any other payment methods. In special cases, it is possible to carry out the openings within 48 hours.

+ Can we integrate payment methods via a plugin?

You can accept the most popular payment methods worldwide through our PrestaShop (free) and WooCommerce plugins. Details on our plugins page.

+ How to integrate PaybyLink into your current business?

PaybyLink, is a "minimalist" digital payment solution that doesn’t require any technological knowledge. With this solution, you do not need to open an online store on an e-commerce platform, and you can complete the online payment process only by sending to your clients a payment link via text message, email or social media. You can choose the payment methods to integrate in your PaybyLink.

To accept payments via PaybyLink, please contact us or register online and start online onboarding process. Our experts will contact you as soon as possible.

+ What is Silkpay app?

Silkpay APP enables merchants to easily receive payments from customers around the world from Alipay+, WeChat Pay, UnionPay and PaybyLink. Our App is available on Android tablets and smartphones as well as on the App store iPhones or iPads. Once logged in, you can complete transactions for your clients in just 3 steps. You can also consult transaction history as well as to refund a transaction in part or in full autonomously if necessary.

+ How to check detailed data such as transaction history or statements?

Silkpay provides you with a backoffice that you can consult from your mobile or desktop devices. This allows you to consult the documentation and check the running of all your transactions in real time.

To access the backoffice, you must click on the "Log in" section at the top right of our Website, enter your username and password to log in. The ability to create a test account at Silkpay will be available in the future. For now, the backoffice is dedicated to our customers only.