PayCly Blog

Best Payment Gateway Providers in Sierra Leone

PayCly is one of the best payment service providers in Sierra Leone. A payment service provider (PSP) is a company that provides you with online payment solutions for your high-risk business. Payment solutions include high-risk merchant accounts, payment gateway, credit card processing, etc. A payment gateway, merchant account and a website or application are the fundamental requirements of any online business.

A payment gateway is a technology that enables payment transactions by transferring payment details between involved entities. Before transmitting the payment details, it performs many security checks and tokenizes & encrypts the details in order to safeguard the payment. It acts as a bridge between merchants' web or app payment portals and merchant accounts. On the other hand, a merchant account is similar to a commercial bank account as it carries out all banking tasks, including accepting, holding and withdrawing the funds you receive from your clients.

Why Do You Need a Payment Gateway in Sierra Leone?

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Despite having a low internet penetration rate, Sierra Leone's e-commerce industry is expanding more quickly than anticipated. Internet penetration in the 8.06 million-person nation was 30%. People in Sierra Leone are welcoming the market's digital change in every way. People are now enjoying making purchases from ecommerce marketplaces online. E-commerce sales were $175.10 million in 2022, and by 2027, they are projected to be $478.20 million. Similar to this, people visit online betting sites to place their bets, and their love of the foreign exchange market is evident from the volume of transactions made there. Additionally, Sierra Leoneans also increasingly like playing at online casinos.

PayCly supports Sierra Leonean business owners to start and expand their online ventures, such as gaming websites, forex trading platforms, and online casinos. We ensure our support by providing all payment solutions for your business. These payment processing services, such as a payment gateway and merchant account, let you accept online customer payments and aid business growth.

Online shopping is trendy since it has many benefits, such as convenience, accessibility, variety, cost comparison, home delivery, and amazing discounts. In addition, most services, including escort services, fantasy sports, IPTV, and sex toys, are now available online. Compared to a conventional firm, an internet one can be launched more quickly.

Types of Payment Gateways

An International Payment gateways can generally be divided into three categories, and are as follows:

How Does a Payment Gateway Work?

We have simplified the working steps of a payment gateway through this illustration:

How PayCly is the Best Payment Gateway Provider in Sierra Leone?

Almost all online businesses, including ecommerce, online casinos, forex broker platforms, gambling, betting, etc., are considered high-risk companies by banks and traditional financial institutions (FIs) due to higher chargebacks, fraud and worldwide expansion. That's why banks and FIs do not offer high-risk merchant accounts to these businesses. Nevertheless, many PSPs offer payment solutions like international payment gateway, high-risk merchant accounts, forex merchant accounts & online gambling merchant accounts for high-risk organizations.

The best PSP in Africa is PayCly, which provides hundreds of features to boost your revenue. We are a reputable, accountable, and well-known acquirer in Sierra Leone. Our MDR rate is the most affordable. Additionally, we comply with PCI-DSS level 1 and protect you with cutting-edge technology like AI and ML. Our offerings are customised to your company's requirements. Using our feature-rich dashboard, you can track and download daily, weekly, monthly, and annual company data. We guarantee quick payouts, 24-hour assistance, and the security of your high-risk merchant account. Among other notable features, they have the following:

Benefits You Get by Acquiring PayCly’s Payment Gateway

Frequently Asked Questions (FAQ)

What other payment options does PayCly offer besides Payment Gateway?

PayCly offers all types of payment processing that your business might need, such as credit card processing, payment gateways, merchant accounts, e-invoicing, etc. For these companies, we have developed a few special merchant accounts with features particular to the industry and payment gateways, and they are as follows:

Casino Merchant Account Forex Merchant Account
E-Commerce Merchant Account Fantasy Gaming Merchant Account
Escort Merchant Account Adult Toys Merchant Account
IPTV Merchant Account E-Cigarettes Merchant Account
Tobacco Merchant Account SMM Panel Merchant Account
Tobacco Merchant Account SMM Panel Merchant Account

What are your industry-specific Merchant Accounts?

In order to safeguard high-risk industries from chargebacks and fraud, these accounts were formed. Accounts with high-risk merchant characteristics and specialising in the sector are "industry-specific merchant accounts." These accounts appear to be the first choice for all merchants that they recommend, based on the responses from our merchants. No other PSP in Sierra Leone can compare to our Forex Merchant Account and Gambling Merchant Account. Visit paycly.com to partner with the best acquirer.