Payment Processing Services

  Introduction Expansion of your business globally is no longer an option; it has become necessary. Digitization and globalization are the focus reasons for global trade achieving new milestones every year. The UNCTAD Report on Global Trade Statistics 2019 shows that international e-commerce trade has reached $26.7 trillion. Both business-to-business (B2B) and business-to-customer (B2C) trades are growing steadily every year. In the respective year, the global eCommerce trade (B2B & B2C) was equivalent to 30% of the worldwide GDP. This number is insane, showing the significance of cross-border online businesses. Now you might get why we quoted that: global expansion is not an option anymore but necessary. But with these alluring numbers, problems also arise, and the most important one among them is international payment processing. Banks and traditional financial institutions hesitate to work with international merchants. Not only do they hesitate, but they even refuse to p...

  Introduction In this world of digital marketplaces, the majority of businesses are labeled as high-risk. The so-called label is given by banks and financial institutions (FIs) for several reasons (we will discuss them in detail in the blog). And the irony is that, after marking them as high-risk, banks and financial institutions even do not offer payment solutions. These irresponsible and incapable institutions left high-risk businesses struggling to find an ideal payment solution. But merchants need not worry, as this gap has been filled by merchant service providers (MSPs). There are a number of MSPs that specialize in providing high risk business payment gateway . In this blog, we will delve into payment solutions for high-risk businesses and suggest the best one that can cater to your specific needs. So let’s dive into the deep water of high-risk payment solutions together. Why Are Businesses Labeled High-Risk? As we discussed, banks and financial institutions categoris...

  In today's digital age, where 5.16 billion people have internet access, more and more businesses are going online to expand their reach and increase their revenue. As per Statista, global retail ecommerce sales reached $5.7 trillion in 2022 and are expected to climb to $7.5 trillion in 2025. This expansion is a clear sign that online businesses' future is brighter than ever. However, to accept payments online, businesses need to set up an online merchant account . In this blog, we'll learn what is online merchant accounts, discuss their benefits, and introduce WebPays as the best payment solution for online merchant accounts. What is an Online Merchant Account? An online merchant account is none other than a business bank account that facilitates businesses to accept payments online. When a customer makes a purchase online, the payment is processed through the merchant account, and the funds are deposited into the business's bank account. Online merchant accounts...

  Introduction In the rapidly evolving digital marketplace, choosing the right payment service provider (PSP) is crucial for businesses in Europe. With a wide range of options available, selecting the most suitable provider can be challenging. However, by considering certain factors and following some useful tips, you can make an informed decision. This blog outlines five valuable tips to help you choose a payment service provider that meets your specific business requirements. Before that, let's understand some merchant service provider or payment service provider fundamentals.   What is a Payment Service Provider? A payment service provider (PSP) is a company that facilitates electronic transactions between businesses and their customers. It connects the business's website or online store with the financial institutions to process the payments. Some PSPs offer limited services, but PSPs like WebPays, a full-stack payment service provider, offer a complete set of so...