PayCly is one of the best payment service providers in Somalia (Federal Republic of Somalia/Jamhuuriyadda Federaalka Soomaaliya). A financial technology company that offers payment solutions, such as a payment gateway, merchant account, etc., for any online business is known as a payment service provider. A payment gateway serves as a link between the merchant account and the payment portal for your applications or website. A payment gateway facilitates financial activities by sending encrypted payment information between the parties. On the other hand, a merchant account fulfills all banking requirements, allowing you to accept, keep, and withdraw the payment you receive from a client.
Despite the low internet penetration, the eCommerce market is a new trend in Somalia. Visionary entrepreneurs and young businesses are eagerly creatively developing the country's eCommerce sector. There are a lot of opportunities for E-commerce in Somalia.
People these days like to shop online since it offers so many advantages, including comfort, convenience, choices, cost comparison, free delivery, and great discounts. Additionally, the majority of services are now offered online, including escort services, fantasy sports, casinos, and sex toys. Starting an online business is easier than starting a conventional one. You only need a website, a payment gateway, and a merchant account to start an online business. We encourage newbies to start their online venture by providing them with payment gateways and high-risk merchant accounts.
Generally, payment gateways are classified into three types, and they are as follows:
We have simplified the working steps of a payment gateway through this illustration:
When you start or extend your online business, you need a payment service provider (PSP) in order to accept online payment. It's necessary to select a PSP that can fulfill all your business requirements. A PSP must offer a high-risk merchant account if your business is considered high-risk. Similarly, if your industry is unregulated, a PSP must also provide a merchant account and payment gateways so that you can do business hassle free. Not all PSPs provide all services to all merchants. But PayCly does not differentiate a businessperson's capacity by the lack of government rules. That's why we offer payment solutions to both regulated and unregulated industries.
PayCly is the only PSP in Africa that offers all the features required to increase your revenue. We are a trustworthy and well-known PSP. We offer the lowest MDR in Somalia. We secure you with futuristic technology like AI and ML in addition to having PCI-DSS level 1 accreditation. Our offerings are customized to meet your business needs. Our feature-rich dashboard lets you see and download daily, weekly, monthly, and annual business evaluations. These attributes guarantee quick settlement, round-the-clock customer support, and the safety of your high-risk merchant account. We also possess the following notable features:
All payment solutions that your company might need are offered by PayCly. We assist businesses by offering high-risk merchant accounts and international payment gateways, and the following industries are just a few of those in which we have a lot of experience:
| 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 |
In brief, these accounts are made for high-risk industries to protect them against widespread fraud and chargebacks. The term "industry-specific account" refers to accounts with high-risk merchant accounts and features specialized in the sector (e.g., casino, forex, sex toys, dating, escort, etc.). According to feedback from our merchant, these accounts have reportedly become the top choice for all the merchants they recommend. No other PSP can catch up with our Forex Merchant Account in Somalia. For more info, you can reach us at paycly.com.
