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:
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:
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.