Do you want to start your forex businesses in Cyprus? If yes, you need a suitable forex payment gateway in Cyprus, forex payment processing, and a forex merchant account.
Forex is the world's most active market. Its daily transactions reached $7.5 trillion in April 2022 from $6.6 trillion in 2019. It is the global market where individuals buy, sell and trade foreign currencies. U.S. dollars dominate the forex industries with 88% of all the trades. The second most active currency is the euro.
Here, in this blog, we will discuss the forex payment solutions in Cyprus. So, let's start.
What is Forex Payment Gateway Cyprus?
Before moving to the forex gateway, let's first try to understand what is a payment gateway. In a simple sentence, you can say that the payment gateway is a mechanism that acts as an intermediary between online websites and customers. You can also say that online merchants use the latest technology to accept debit or credit card payments.
In the same way, the forex payment gateway works, but it is specialized in dealing with the forex industries. Forex is a high-risk business, so most service providers deny working with the forex industries. Due to this reason, forex merchants ought to go with the forex credit card processing for their high-risk forex businesses.
Why is Cyprus the Hub of the Forex Industries?
Cyprus is the hub of the forex businesses. Cyprus having one of the lowest corporation tax rates in the world at just 12.5%, much below the U.K.'s rate of 19%, one of the answers may lay in the perennial problem of taxes, or instead in their absence.
That is to say; a forex broker can pay Cypriot corporate tax and continue to offer its services to clients in the U.K. market, a practice that many have been eager to take advantage of.
As Cyprus is the hub of the forex businesses, you can get many payment service providers that support the forex industries. Forex is a high-risk business so traditional payment gateway never supports the forex businesses. Merchant has to go with a specialized service provider that has the following features -
- Low Processing Fee: As you know, forex brokers profit from price spreads, so the forex payment gateway must be cost-efficient.
- High-Volume Processing: A specialized forex gateway offer the flexibility to process high-volume transactions. It helps merchant to grow their businesses.
- Multi-currency support: Allow merchants to accept payments in multiple currencies from all over the world.
- Various Payment methods: Forex gateway allows merchants to accept payments with the most popular cards worldwide and also offers alternative payment methods. Some of the advanced gateways also support cryptocurrency.
- Fraud Protections: Today, every payment gateway follows all the PCI DSS regulations and guidelines to offer a safe and reliable payment processing experience. Along with this, it also provides anti-fraud and anti-chargeback tools.
- Easy Accessibility: It executes all payments with real-time rates and ensures that funds will not wait long.
- Comprehensive Reports: Allow merchants to monitor all the forex transaction details.
What is the Role of PayCly in Cyprus?
PayCly is one of the leading and best service providers. Its services are available worldwide. As "PayCly", we offer the best possible solutions for forex enterprises at the best rate in the market. We have many years of experience, so we know what is best for your businesses and offer the same.
Forex merchants can get many benefits from us. Some of its best uses are -
- We are all-in-one solutions.
- We have various range of payment methods.
- Ability to accept multi-currency from all over the world.
- Best customer support services in the market.
- Easy to integrate on websites.
- We offer a reasonable rate.
What Industries PayCly Deal With?
PayCly is one of the most popular payment service providers compatible with most high-risk businesses. Along with the forex, it also has experience in dealing with other high-risk industries such as -
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Final Thoughts -
A reliable and secure forex payment gateway is essential for high-risk forex businesses. It helps merchant to boost their businesses. Therefore, we recommend you choose PayCly as your forex payment service provider. It fulfils all your requirements.
It just takes a few minutes to start with PayCly. Contact our expert team and finalize your deals.