Retail Merchant Account
You want to help people travel easier and start your online store that sells touristic gear & equipment. Or, maybe, you tailor beautiful dresses and can’t wait to sell them. To do this, you need to open a merchant account.
Prior to onboarding, analyze the PSPs that are present on the market. Choose the one that fits you the most. Make sure to prepare all the required documents and your website in order to get your merchant account opened.
What is retail?
Retail is a rather broad term. Online retail lets customers buy goods and services from the Internet stores or shopping platforms. To shop online, customers need to use devices like smartphones, desktops, or tablets with Internet access. Besides this, consumers need to have valid payment tools that allow online payments. This might include but is not limited to MasterCard and Visa cards, PayPal, e-wallets, etc.
In the digital era trust plays an important role, so it’s vital to build brand awareness. It takes time but helps you establish strong relationships with your customers. Merchants with a well-known brand (e.g. they have brick-and-mortar shops) can usually skip this step. As people know and trust your brand they tend to become return customers.
What are the core needs of retail merchants
Considering the broadness and versatility of retail, every merchant will have special needs.
To ensure global presence, the payment provider needs to offer a variety of currencies and payment methods. The more known payment options shopper see, the more confident and safe they feel. They will also feel more comfortable if it’s possible to pay in the local currency.
To ensure fair pricing, the PSP should have a wide network of banks. This lowers the processing fees.
Various integration types. Based on your size, you might wish to integrate the payment page differently. Just so, a small company can pick HPP integration as it doesn’t require to deploy a development department.
Fraud and chargeback prevention. To protect you from any kind of suspicious activity, the payment service provider must be PCI DSS compliant and have proven anti-fraud and chargeback prevention tools.
For years Ikajo has been mastering a list of solutions to cater to its clients needs the best way possible. As a result, Ikajo is ready to offer fees starting at 0.7% to all the retail merchants. Moreover, Ikajo has over 100 payment methods (including alternative ones) and 100+ currencies. We have partnered with over 60 international banks to provide you with seamless payment journey. Also, you will feel fully protected thanks to our own fraud and chargeback prevention software.
- Own anti-fraud & chargeback prevention tools
- API or HPP integration
- Free recurring billing
- More than 100 payment methods
- Over 100 currencies
- Partnership with more than 60 international banks
- Mobile banking
- 24/7 customer support