Payment Gateway In China
International community recognises China as one of the largest exporters in the world. Global Importers and exporters use payment gateways to accept China payments. Many companies located in China also use International payment gateways. Chinese international export companies use letter of credit as a preferred mode. By using payment gateways in China, local merchants can accept International payments. Quadrapay has established relationships with various payment service providers. Many of these payment processing companies offer services to International and China-based merchants. These payment processors provide an advanced user interface to merchants. The payment platform can be easily integrated to the merchant’s website. Chinese companies can also get solutions directly from local acquiring banks. If the local acquiring bank say no then merchants can approach International processors. Some International payment processing organisations provide credit card processing to Chinese companies. Quadrapay will assist in finding a Credit Card processors for your China-based business.
ACH/Echeck Payment Gateway For China Based Merchants
The United States and China are trade partners. A considerable amount of business happens between these two nations. Many exporters perform trade activities with usa customers. These Chinese exporters can accept payments from the United States by using ACH. With ACH processing these business owners get access to API as well as virtual terminal. ACH is also a perfect solution for High-Risk Merchants located in China. Most credit card companies refrain from high-risk onboarding. Most of the times businesses can get approved by third party ACH payment processors. Many third-party ACH processing companies may be interested in onboarding merchants from China.
How To Get An International Payment Gateway In China
The process of getting an international payment gateway in China is straightforward. The merchant is required to submit a completed merchant account application. With the merchant account application, the merchant has to send copies of KYC documents. The KYC documents include
- Business licence
- Proof of Identity of the business owner
- Address proof of the business
- National ID and photo ID
- Previous processing statement if available
- Recent business Bank account statement
- Letter of good standing from the bank or Void check. Apart from these documents the Credit Card processing company may ask for additional information. The requirement of these other documents depends upon the industry type of the merchant.
China Payment Gateway And Chargeback Alerts
In any cross-border transaction, the credit risk is always a critical factor. It is the key reason why many local sponsor banks do not offer cross-border credit card processing facility. In case if a China-based merchant sells products and services to International customers by using credit card payment gateway, then he must evaluate chargeback alert services. With the help of chargeback notifications, business owners can effectively reduce the chargeback to sales ratio. These chargeback alert companies also offer highly advanced tech support. High-risk businesses located in China and other parts of Asia must use these preventive measures to reduce the chargeback ratio. To get your merchant service account activated in the shortest time frame, we strongly encourage you to submit all the required KYC documents to the payment processing Institution. If you need assistance, then you can also contact Quadrapay by sending an email on [email protected] We work as a reseller with multiple numbers of payment processing companies across the globe. We will be happy to share your business URL to the PSP for pre-approval. After the pre-approval, the payment service provider will ask for a detailed application and KYC. If your account gets approved, then the leading Payment Gateway company that we work with will send you an international merchant account agreement. After signing the contract, you will be getting the logins to your merchant account panel. You can now proceed with the integration of your payment gateway. After the API integration, you can readily accept credit card payments online. Some Credit Card processing companies may also offer virtual terminal depending upon the risk profile of the merchant. If you get a virtual terminal, then you can accept Moto transactions.
High-Risk Merchant Account In China
Global payment processing companies evaluate the merchant’s profile on various parameters. Some of these parameters are credit risk and reputation risk. Based on multiple factors the payment processing institution approves the account. If your local acquiring bank has declined your application and you are still searching for a Credit Card processing account then probably you should contact a high-risk merchant account provider. High-Risk Merchant account providers usually charge a slightly higher transaction fee. To reduce the credit risk, they also cost a rolling reserve. Even if you pay somewhat higher prices and rolling reserve, still it is right for you as you will be getting a Credit Card processing account. High-risk merchant account providers follow strict guidelines and implement best practices in the application evaluation process. Please keep in mind your business must be legal to stand a chance of getting approved. High-risk payment gateway providers are unable to support prohibited and illegal businesses. To improve the chances of getting a high-risk merchant account for your Chinese company, we strongly recommend you to comply with the guidelines of various Credit Card brands. The most important factor is that you should send all the required documents. Your website should also follow the requirements of the Credit Card processing company. These requirements are usually mentioned on sites of various china based credit card processors. To get more details about how you can get a payment gateway and merchant account for your China-based business you can send us an email on [email protected]. If you are looking forward to getting a high-risk merchant account in China, then we strongly encourage you to share your previous processing statement. Your previous processing statement will help the credit card processor to evaluate the credit risk and the risk exposure. We also encourage business owners in China to share a business plan with the payment processing company. Credit card processing companies prefer to work with organisations that are financially strong and follow best business practices.
We are looking forward to hearing from you regarding your requirements for China payment gateway and high-risk merchant account.