Having an effective flow of payment for your online business is essential to reduce shopping cart abandonment and enhance your customers’ experience with your business. This requires you to negotiate with your bank for a dedicated merchant account playing as a temporary place for holding transacted funds of your customer credit card payments before transferring back to your account.
Before the advent of merchant service provider (MSP), this is seen impossible especially for small business owner as banks are less likely to work with businesses with small revenue, and tons of workload waiting to bring it to the frontend for use.
Our service can quickly help you to open your first merchant account with easy and flexible integration options to make you ready for accepting your customers’ card payments in a fast and secure way.
Our Service Features
Get to know your business objectives and requirements
Apply for a merchant account with a suitable merchant service provider.
Integrate a payment gateway into your e-commerce website.
Test and Go Live
Start accepting payments and managing your account.
**Please note that the country where you incorporate company and open bank account must be the same.
Understand our services with frequently asked questions.
The merchant account functions like a bank account. Its role is to temporarily hold money from customer’s card payments before sending back to your bank account at a pre-specified frequency. On the other side, the payment gateway works like a platform used to authorize, process transactions and direct payments from one account to another.
We only charge a small one-time application fee. During the operation of your merchant account, you would be subject to following fees charged by your merchant service provider:
We currently work with Stripe and Paypal. They are both big players in the field and easy to work with.
It would normally take 1 to 2 days to approve your merchant account.
Final Rules of BVI Economic Substance Released
For those who are BVI legal entities, it should be noted that amendments have been made on The Economic Substance (Companies and Limited Partnerships) Act, 2018 (ESA) which was enacted in the British Virgin Islands on 31 December 2018 and came into effect on 1 January 2019.
