The federal Republic of Austria is located in Central Europe with the population of nearly 9 million people. The country which has been ranked consistently as one of the richest countries in the world on the basis of GDP per capita is growing even faster these days. With Vienna its capital, Austria has a larger population residing in the urban areas and most of the people having access to internet technology. Austria has been one of the most stable and recognized member of the European Union. Austria is highly industrialized country with a large proportion of service sector. Not just the industry but tourism is also stronghold of the Austrian economy. The scope of e commerce and online business is having huge potential in Austria. Whether it be business within the country or delivering products and services globally, merchants from Austria have almost limitless potential. Getting a Austria Payment Gateway is not that difficult a task but getting an appropriate one is really necessary. Quadrapay has been the path leader in guiding European merchants to get most comprehensive solutions at the most competitive prices. For further information, simply log onto www.quadrapay.com. You can send us an inquiry on [email protected] or call our 24/7 customer care on +1 63183 21773.
The total GDP of Austria is around 734 billion US dollars and the GDP per capita is roughly 45000 USD. Even though Austria has been among the richest countries in the world but the GDP is still expected to grow dramatically. Austria is a country with such high potential that nearly 5 million E-Commerce users contribute average revenue per user of 1500 US dollars. The total E-Commerce revenue is over 4.4 million USD as of now and fashion is still the leading product category in e-commerce Austria. Austria merchants should specifically plan their online business in order to maximize their profits. Global Payment Gateway in Austria is also a crucial factor for merchants having business in domestic segment or International segment. It is easy for low risk and mid risk Industries to get a Austria Payment Gateway, but the payment processing solutions for high risk merchant accounts is really difficult.
Because of the excessive risk involved in high risk industries, most of the underwriters avoid granting clearance for merchant accounts to high risk merchants. For Austria payment processing and payment solution, Merchants should rely on offshore service providers and Global Payment Gateway providers. Once Austrian merchants have a merchant account for their online business, they should try to keep the chargeback ratio within the prescribed limit of 2%. This is advised because, as per the Quadrapay experts, Exceeding the chargeback ratio can lead to temporary Suspension and installation of a merchant account or even result in complete shutdown.
Quadrapay has deeply rooted connections with European Union based PSPs ( Payment service providers) to help merchants in getting Austria Payment Gateway along with additional services for their specific business model. Various payment options available in the market like credit/debit card processing, wire transfer, E-wallet, Echeck and ACH, etc. can be used by Austria merchants. Echeck payment option is available only for plants based in the United States of America. Apart from that, this is a well-established fact that having more payment options increases the online business positively. Merchants in Austria can also and enroll for chargeback alert and notification services. This will help them reduce the chargeback ratio on their merchant account.
Austria offers liberalized regulations to foreign direct investment companies. World-Class infrastructure and business-friendly norms make Austria a perfect location online and retail businesses. Online and Retail companies in Austria prefer to accept credit and debit card transactions are the primary mode of payment acceptance. To accept Credit and Debit card transactions, they require merchants accounts and Payment Gateways.