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Frequently Asked Questions

What is Osu?

Osu is a cutting-edge payment and business management app for sole traders, the self-employed, and micro businesses.

The Osu app allows users to signup in minutes and then easily create and send secure payment requests to their customers. Customers can then pay in 3-clicks and the money is transferred instantly and directly to the Osu user's bank account with zero fees.

Moreover, within the Osu app users have access to a suite of business management tools aimed at making life easier - a laser-focused CRM, automatic reminders for late paying customers, modern professional invoicing, and more.

Is Osu authorised by the FCA?

Osu Ltd is a payment technology company, not an authorised Payment Initiation Services Provider (PISP). Osu Ltd is a company incorporated and registered in England and Wales with company number 10516109 whose registered office is 3 Brook Business Centre, Cowley Mill Road, Uxbridge, Middlesex, United Kingdom, UB8 2FX.

Payment Initiation Services (PIS) within Osu Ltd's payment technology are solely provided by SafeConnect Ltd, a company incorporated and registered in England and Wales with company number 11598433, and authorised and regulated by the Financial Conduct Authority (FCA), with reference number 827001, whose registered office is 9 Appold Street, London, EC2A 2AP.

As an FCA authorised PISP, SafeConnect Ltd. provides AIS and PIS as set out in paragraphs 1(g) and 1(h) of Schedule 1 of the Payment Services Regulations 2017 (SI 2017/752) and defined in Regulation 2 of the Payment Services Regulations 2017 (SI 2017/752).

What is a payment request?

An Osu payment request is how an Osu users instructs their customer to pay. To create and send a payment request just 3 pieces of information are needed:

  • The customer's name and phone number
  • A few words on what the request is for
  • The amount requested

When the customer opens the payment request, they click a link to pay instantly. Within seconds the Osu user receives a mobile notification that the payment has been completed and 100% of the sale is in their bank account.

How does a payment request work?

Osu leverages Open Banking APIs to connect businesses and customers for secure and instant account-to-account payments.

It means customers can authenticate and confirm payments directly with their own bank, without exposing any sensitive information to any third party – Osu included. What’s more by automatically connecting the payment information to the bank itself, there’s no risk of typing in incorrect account numbers or amounts – just 100% accuracy.

For businesses it means zero transaction fees, truly instant settlement, and the near total elimination of fraud and chargebacks.

What countries can I use Osu in?

Osu is currently available in the UK, allowing UK sole traders, self-employed individuals, and micro-businesses to collect payments from customers in the UK. We are actively exploring expansion into Europe with plans to launch in France, Germany, Spain and Italy later in 2021.

What banks can customers pay from?

Osu covers more than 97% of UK personal accounts. In other words, 97% of UK consumers can pay an Osu payment request. We are adding more banks and aim to reach 99% coverage during the course of 2021.

Why is Osu good for you?

If you’re a sole trader, self-employed individual, or micro business, Osu allows you to sign up and get approved in under 2 minutes. From there you can create and send secure payment requests in less than 30 seconds. When your customers pay, you receive 100% of the money instantly and directly into your bank account.

What's more, payments is just part of the Osu offering. Within the  app you will find a laser focused CRM, the ability to set up automatic reminders for late payers, a way to send modern professional invoices, and more. Osu was designed to save you time, money, and hassle, so that you can focus on doing what you love.

Why is Osu good for customers?

After receiving an Osu payment request there is no easier or safer way for customers to pay. It takes just 3 clicks.

  • Select the bank where they hold an account
  • Authenticate themselves biometrically
  • Review and confirm the payment

And because Osu provides the account details and amount, they don’t need to waste time manually entering data or worry about making a mistake along the way. What makes it safe, is that the payment is authenticated and made directly within the customer’s own bank – meaning bank-grade security.

What makes Osu safe?

Your data is always protected by our first-class security protocols. We use the latest security technology - it's a fundamental pillar on which we have designed and built the Osu platform.

What's more, when a customer pays an Osu payment request, they authenticate themselves and then confirm the payment directly with their own bank. It means customers enjoy bank-level security from the moment they begin the payment.

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