Top Ingenious Ways You Can Do With Best Payment Gateway UK
As a UK business owner, you might be looking for the best payment gateway UK. At the same time, you might be in a lot of confusion to select the payment processor who will be best as per your processing requirements. In fact, there are several circumstances where a merchant applies for a merchant account in the UK, but get rejected because of several reasons. But now with Quadrapay, you do not have to worry about because we will take care of gathering all required information and further processing it to the appropriate payment processor that fulfils most of your requirements and actual needs of the business.
Understanding Low-Risk And A High-Risk Business Category For Best Payment Gateway UK
As a business owner, if you are already in contact with several banks and financial institutes for merchant account solution, then you might already come to know with the terms Low-Risk Merchant and High-Risk Merchant in the UK. If not, then do not need to worry as we will now clear your doubts regarding these business categories. It is a must that a business owner should understand these businesses and their working mechanisms, including the business that you operate with an appropriate business plan.
- Low-Risk Businesses In UK: A business that has a simple business plan and operates within the limits of the good reputed market and low chargebacks are considered under low-risk companies. This category contains the majority of the day to day businesses being operated.
For example, it can be a Salon business in the UK.
- High-Risk Business In UK: These businesses usually have high chargebacks, reputational issues, complicated business plans and even have a lot of interchange/trades of currency between offshore merchant businesses and customers. There are a lot of major industries that are counted under high-risk businesses, and they find it difficult to get a card processing solution or best payment gateway UK, but now with Quadrapay, it is a simple and straightforward procedure to apply for a high-risk merchant account in Europe.
What Are The Requirements To Apply For The Best Payment Gateway In UK?
If you are a resident of the UK, then it will be easy and faster onboarding procedure. In case if you are a business owner who is not a resident of the UK, then you must provide a valid visa and residence permit. Apart from these, the following are some of the vital KYC documents that a UK business merchant must submit while applying for the best payment gateway UK.
- Identity Card (Driving license or Passport)
- Voided Check
- Latest bank account statement up to the previous three months (must be under the full business registered name)
- Processing records up to the previous three months (Can be ignored for a startup or if you had never processed before)
- Latest Utility bill up to 90 days for business (must show the full business registered address as proof)
- Some other documents may be asked while integration and verification as per compliance requirements which may include lab reports for some products, business supplier details, etc. which varies from business to business as per its category.
Final Verdict For The Best Payment Gateway UK?
Every business needs a card processing solution for their store, online website and mobile application. In this highly competitive market, expensive processing rates can ruin your overall profits from sales and affect your business growth. That is why now with Quadrapay, you can simply fill the merchant application form and submit all required KYC documents. Within a few days, you will start to enjoy the best payment gateway in the UK for your business processing.
For more information on how to get Best Payment Gateway UK, you can mail us at [email protected].