An international payment gateway along with an international merchant account is a fundamental need to accept cross-border payments for your multinational business. These two elements are sine qua non for any online business to accept international payments. An international payment gateway facilitates online payment transactions, while a merchant account allows you to accept, hold, and transfer this received payment into your regular bank account.
I'd like to draw your attention to the fact that the value
of global trade is all set to hit $32 trillion in 2022, according to the United Nations Conference on Trade and Development (UNCTAD).
Whereas the worldwide sales of retail eCommerce (e-commerce means all businesses selling goods and services on the internet, including
casino, forex, adult toys, and IPTV) are expected to surpass $5.7 trillion in the same time frame showing that cross-border ecommerce
is becoming a beneficial opportunity for online retailers.
To expand your online business worldwide, a merchant needs
to obtain an international payment gateway and an international high-risk merchant. These two essential components will be integrated
with the third one (your trading platform) in order to accept cross-border payments. Selling worldwide could be riskier than selling
locally, so why would you do so? Let's see some aspects:
- An international payment gateway opens your door to the 5 billion
internet users, of which half are already purchasing online, and the remaining are potential shoppers.
- Another aspect is that the purchasing power parity differs from state to state. Foreign states may have higher
purchasing power than yours, and they may also have stronger needs than you do.
- You may face less competition in foreign nations as more people are prejudiced about the superiority of foreign
- The economic factor also encourages merchants to go global, as dependency on one state may have more risk than
Essential Features of an International Payment Gateway
Selecting the best international payment gateway for your
business has become difficult as hundreds of PSPs claim to be the best. Before selecting a payment gateway, you need to check the following
features, to name a few.
||A payment service provider must alter its services according
to the requirements of the merchants. It must be ready to plug in the APIs crafted according to industry standards. Furthermore,
integration should be easy and instant.
Note: PayCly provides personalized services to all merchants and integrates accounts on the same day.
||A provider of international payment gateway and merchant account should offer its services to all high-risk businesses,
including casinos, forex, adult toys, escort, IPTV, etc. Also, it should provide high-risk international merchant accounts to both
regulated and unregulated merchants.
Note: PayCly supports all high-risk businesses and provides its high-risk merchant account to both regulated and unregulated merchants.
|Multiple Currency Processing
||An international payment gateway should accept as many international currencies as possible to trade hassle-free. Plus,
Prices should ideally be displayed in the local currency; otherwise, online stores may lose potential customers.
Note: PayCly accepts more than 150 international currencies.
|Alternative Payment Methods
||The preferred payment options vary from state to state, i.e., the use of credit or debit cards is higher than that of any other
form of payment in America, just like it is in Europe, according to a Statista analysis. In Asia-Pacific, however, digital wallets outnumber
credit cards and other payment methods. So a payment processing firm must support a large number of payment methods.
Note: PayCly's international payment gateway supports 100+
alternative payment modes, including local payment modes, credit or debit cards, wire transfers, cryptocurrency, etc.
|Security & Fraud Prevention System
||2 out of 3 internet merchants have witnessed online fraud. To safeguard its merchants from fraud, a PSP must provide state-of-the-art
fraud prevention tools, such as encryption, tokenization, SSL, SET, AVS & CVV checker, fraud scoring, geolocation tracking, 3D secure
authentication, and other fraud protection features along with PCI-DSS compliance. Moreover, it must prevent chargeback by employing
three-tier chargeback prevention tools.
Note: PayCly's high-risk merchant account has all these security features as well as we use other futuristic tools like AI and ML to eliminate potential fraudulent activity.
||The best payment gateway service providers offer payouts promptly. Examine the payout time frames before integration. The usual payout varies from business to business and may be weekly or biweekly.
Note: PayCly provides timely payout (payment settlement) to all high-risk merchant accounts.
||Round-the-clock Customer support is the backbone of an international business. Customer support should be available in regional and international languages, providing quick and easy solutions to any issue.
Note: PayCly assigned a dedicated support manager for every merchant, which will be available round the clock.
How does an International Payment Gateway Work?
For better understanding, we simplify the process in an illustration.
Entities those are associated with an International Payment Gateway
Basically, there are six entities involved in this process.
One of them (international payment gateway) we have already discussed. Let's have a glance at the remaining five.
How does PayCly provide the best international payment gateway?
Our customer-centric approach helps us deliver the best
international payment gateway to merchants. We believe that cross-border sales are the future of e-commerce. PayCly helps foreign
merchants by offering online payment solutions adapted to the needs of international businesses. Furthermore, we use a four-fold rule
to propel results for your business. The first step is to understand your requirements. Second, a thorough analysis of your business.
Third, we craft the best product for you. Finally, we put it into practice to get the greatest outcomes for our client's businesses.
There are hundreds of payment gateway providers, but PayCly
is what you all need. A complete solution to all requirements, PayCly's payment gateway provides
every essential feature that an international merchant desires for its business checkout page. Our Alpha Geeks and Statisticians provide
immensely futuristic solutions for your business. We not only do the customisation according to you but also assist you for the betterment.
To wrap things up
Every company takes a big step when it decides to start
selling internationally. The process requires far more strategic planning than it appears at first glance. The selection of an international
payment gateway is one of the technical challenges that online merchants face. Here we've discussed several essential elements of the
International Payment Gateway. You now have ideas on how to choose the best one, what should
be the characteristics of the most important payment gateway when selling internationally, how it works, and its entities. As our R&D
team had comprehensive research over hundreds of payment gateways, we found PayCly is one of the best-emerging payment gateways with
all the essential features, including security, fraud prevention system, chargeback prevention tools, multi-lingual, multi-currency
support, and 24*7 customer support. If you want to learn more about our products in detail, please visit our website,
https://paycly.com/ and get in touch with our team. We will gladly assist you in locating the
best International Payment Gateway for your international business!
Frequently Asked Questions (FAQs)
What documents do you need to have before applying?
- Website URL
- Directors' name and contact details
- Business name & contact details
- Region of operation
- Last three months' business bank account
- Memorandum and Article of association
- The license of business (if applicable)
- Some other documents may be required according to the business
Does PayCly provide White-Label Payment Gateways?
Yes, PayCly provides a white-label payment gateway to its
customers. The white label payment gateway offers you a personalized, sophisticated, integrated, and tractable form of payment gateway
specially created according to your needs. It will show your Brand Name mentioned over the
payment gateway and promote it to the maximum extent.
What other Payment Solutions does PayCly provide?
PayCly is the best high-risk payment processing company,
providing state-of-the-art high-risk merchant accounts to all high-risk businesses, including casinos, gambling, adult toys, escort
services, tobacco, e-cigarettes, online dating, fantasy games, etc. Additionally, we provide merchants with the
best credit card processing. We have created a few
state-of-the-art merchant accounts with high-risk and sector-specific features in which we have extensive experience; they are listed