Forex Merchant Account
Merchant account is an exclusive account that allows you to accept or send payments from plastic cards via the world web. In order to exclude your business from financial losses, you should pay attention to choosing a payment providing system.
The development of online services is only increasing each year, and online payments are gaining more and more popularity. Each company that provides services through the Network (whether it’s an online store, or a forex broker, or an online casino, or even dating sites), strives to make its service for customers as convenient and attractive as possible. That is why many Internet entrepreneurs struggle for providing the most comfortable and reliable methods of receiving payments. Especially the activities of companies such as forex brokers and online casinos are no longer possible without making payments via the Internet.
For forex, the provision of merchant accounts is the main area of the work of many specialized companies. They quickly open a personal merchant-account, choosing one of the best banks in Europe. At the same time, the cost of services is democratic, and the procedure does not require any effort on the part of the customer.
How to connect a forex merchant account to your website?
Connecting a merchant account to the site may be not as simple as it seems. Banks provide many different verification steps not only to a company itself but, also to the top management. However, to connect a forex merchant account, in addition to the presence of the company itself, a current account in a reliable bank is also required.
Let’s consider the basic requirements that a website must meet to connect a merchant account. We would like to pay your attention to the fact that in particular, the criteria from bank to a bank may vary, but the general conditions remain the same.
- Firstly, the company’s website should be operational and standby.
Often, banks do not even take under consideration applications from companies whose sites are still under development. Unfinished sites are almost impossible to connect.
- An SSL certificate is also a must, which will ensure the security of communication.
- The site must necessarily contain the name, address, and contact information of the company.
In addition to this information, contact information for customer support, including e-mail or phone, is required.
- A full description of the goods and services that are provided should also be displayed on the website.
In the case of forex brokers, the site must specify a detailed list of services provided by the forex broker (for example, trading, analytics, consulting services), and also, preferably, place a short but meaningful description of such services. At the same time, prices for services (or goods) should be indicated in the currency provided for payment.
One of the requirements of banks to open a merchant account is also the presence on the main page of the website of the logo of payment systems that the company will work with.
For companies providing consumers with physical goods, an imperative is the presence of a return policy and a delivery policy on the site.
Besides, for all companies, including forex brokers, the following data is required:
- Information about the protection of the personal data of the customer.
- Information on the website about the security of transactions.
- Terms and conditions of the transaction during the entire order process.
- The presence of the “Click to accept” button to confirm acceptance of the product or money return policy.
A personal Forex merchant account indicates that the user is his sole owner. Subsequently, only he will be autocratic over transactions. However, payment providers practice using an aggregated merchant account.