Insurance brokers increasingly encounter challenges related to payment processing – from high transaction costs to limited options for modern, convenient solutions. IRIS Solutions has developed IRISPay, the first mobile app for cardless payment acceptance in Southeast Europe, alongside a web-based solution for payment links.
With IRISPay, insurance brokers can save up to 60% on payment costs, while their clients enjoy the convenience of paying for their insurance with just a few clicks. Let’s explore the key challenges and how IRISPay delivers effective solutions.
Key Challenges for Insurance Brokers
High Transaction CostsCard payments and POS terminals come with significant fees that impact profits.
Time-Consuming ProcessesManual payment processing takes time and increases the risk of errors.
Limited FlexibilityTraditional methods like bank transfers and cash payments fail to meet modern client expectations for speed and convenience.
SecurityBrokers need to offer the highest level of security for financial transactions.
The Solution: IRISPay – The Smart Choice for Digital Payments
Easy Payment GenerationBrokers can create a QR code for payment in just two steps via the IRISPay for Merchants mobile app, available for Android and iOS.
Payment Link GenerationBrokers can generate payment links via the IRISPay web platform, which can be sent through Viber, WhatsApp, Messenger, and more.
Significantly Lower FeesThanks to Open Banking technology, transaction fees are much lower compared to card payment fees.
Instant Fund TransfersFunds are transferred to the broker's account within 10 seconds or as part of a standard bank transfer.
No Hidden FeesPay only for successfully completed transactions. There are no subscription, integration, or monthly fees.
Choice of Bank AccountFunds are credited directly to the broker’s selected account without the need to open a new one.
Benefits for Clients
Fast and ConvenientClients can complete payments in just 4 clicks or via biometrics through their banking app.
No Amount LimitsClients can pay for high-value insurance policies without restrictions.
No Additional Apps RequiredPayments are made directly through the client’s banking app without needing to install extra applications.
Top-Level SecurityIRISPay complies with the strict security requirements of PSD2 (Second Payment Services Directive). Payments are processed within the client’s banking environment, meaning no sensitive data is shared with the merchant or IRISPay.
Ready to Improve Your Payment Processes?
How Does IRISPay Work?
📹 Watch our demo videos to see how IRISPay can optimize your business!
Make payments using the IRISPay QR Code:
QR code payment process - DSK Bank:
Generating QR code:
Who Are IRIS Solutions?
IRIS Solutions ("IRIS Solutions" Ltd.) are pioneers in providing innovative, secure, and user-friendly financial solutions. We are a payment institution licensed by the Bulgarian National Bank (BNB). Under this license, the company is authorized to offer payment initiation services and account information services.
Since 2024, we have been operational and have integrated with over 70 banks and financial institutions across Southeast Europe. This allows us to deliver our services and products in Bulgaria, Romania, Greece, Croatia, and Cyprus, making us a trusted partner for businesses in the region.
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