Nochex mission is to provide UK and European online businesses and their customers with
the means to accept payments safely at an affordable price.
Today, Nochex is the UK’s leading independent online payment method. Established in 1999 and taking payments since 2001, the company earned itself a popular reputation among the early online community of would-be entrepreneurs and eBay sellers.
Nochex became the primary UK-based alternative payment choice on eBay, competing successfully with the likes of PayPal, Worldpay and other early internet payment options.
However, in 2006 eBay, which had acquired PayPal in 2003, made a dramatic decision to no longer allow sellers on eBay to use Nochex. In the immediate aftermath, many eBay sellers closed their accounts and placed all their business with PayPal. Many merchants were extremely reluctant to take this step, but with their livelihoods at stake, this was an entirely understandable decision.
Following a popular campaign by UK sellers, Nochex was able to overturn eBay’s decision, but the damage had been done, and many former account holders did not return. Thereafter, eBay continued its campaign against Nochex by restricting sellers in their payment choices.
In response to the eBay action, Nochex set about developing a new and complimentary business model that addressed the needs of internet retailers selling through their own website and shopping carts.
Nochex developed a unique service that enabled retailers to accept payments without having to obtain an expensive merchant account from a bank. Nochex provided the simplest and fastest way for these trailblazing retailers to get paid.
We continued to work with a loyal band of internet merchants in order to redesign the Nochex offering to address the needs of sellers. The primary new source of business remained reputation: referrals from existing account holders accounted for more than half of all new account holders and this trend continues to the present day.
In 2011, Nochex successfully launched an innovative new partner scheme designed to reward those people who regularly referred new business. The scheme continues, paying out to thousands of partners a regular income each month.
In the same year the company was identified as having one of the busiest financial services websites in the UK.
In 2013, Nochex launched a marketplace designed to promote great offers available from both established and new merchants. The principle was simple; as one of the busiest websites operating in the market, Nochex had a great opportunity to showcase fantastic deals for its shoppers.
In addition to supporting Visa and MasterCard brands for the past twenty years, we have also supported other global card schemes as they were required by our merchant base.
Nochex was one of the first payment methods to make its payment facilities ready for the growing rise of mobile payments. Our merchants did not need to make any changes to their own shopping facilities; all the changes were made on our own flexible platform.
Late in 2013, Nochex was chosen both by Visa and by MasterCard to spearhead the launch of their respective electronic wallet services, V.me and MasterPass. In choosing Nochex, the two card schemes identified Nochex’ close relationships with merchant account holders as a clear advantage in terms of getting their new wallets quickly to market and to achieve a fast take-up.
These days Nochex continues to strive for excellence, particularly in terms of the relationship with merchants and online shoppers. We regularly monitor their opinions in order to ensure that our service continues to meet and exceed their expectations. We remain a highly sensitive organisation, tuned to the voice of our customers and are committed to maintaining that close customer relationship, with both our customers and our strategic partners.
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