International Payment Gateway In Cyprus
QuadraPay offers Cyprus payment gateway at highly competitive pricing. Our payment gateway solutions are powered by some of the best payment service providers in Cyprus. With our payment gateway solution, merchants from Cyprus and around the world can accept payments with multiple methods, including credit, debit, and alternative payments both online and in retail stores. We provide a true Omni-channel experience for merchants in Cyprus. Our acquiring partners are highly reliable and experienced, assisting merchants of all sizes from various industries.
Our Cyprus payment gateway comes with state-of-the-art features, including an amazing user interface that allows you to keep a close eye on the transaction activity on your merchant account. The interface supports multiple languages for your comfort, and you can choose the language that works best for you. For deeper analytical insights into how your business is doing, the Gateway comes with a reporting module that allows you to extract reports of different kinds. The built-in fraud reduction tool acts as your security officer, always looking forward to reducing the risk on your account. Additional features like AVS and 3DS, as well as tokenization, make the solution a perfect choice for your business.
Multi Currency Cyprus Merchant Account
QuadraPay’s Cyprus merchant account is powered by European acquiring institutions well-known for offering an extremely stable credit card processing experience. Our processing partners provide a very dependable Cyprus merchant account at highly competitive pricing. With our Cyprus merchant account solution, you can take your business global and accept payments from customers in multiple countries. Ready-to-use modules are the perfect choice for quick integration of your website.
The application process for merchant account in Cyprus is straightforward. Send us the basic information, and we will guide you through the next steps. You’ll be required to send KYC documents for a complete underwriting review. Once approved, you’ll receive a term sheet with the contract. After signing and returning the contract, you’ll receive login credentials for your gateway. Initiate the integration, perform test transactions on your website, and upon successful testing, start accepting live transactions from Cyprus and around the world.
We welcome complex requirements and are comfortable working with very large accounts as well. Even if you have a complex structure with multiple companies selling various products from different locations, we can provide a turnkey solution for your payment acceptance in Cyprus.
Features That Make An Awesome Payment Service Provider In Cyprus.
Low Rates. For any business, cost minimisation is certainly an important factor. So why not cut costs on payment processing. Why pay more when you can accept credit and debit cards at Interchange Plus Plus model pricing for maximum savings. QuadraPay offers transparent pricing to merchants in Cyprus.
DCC For Growth. Selling to international clients and customers is easy now with DCC. Dynamic currency conversion quickly converts the product cost into customers’ local currency.
Quick Settlements. Our Cyprus Payment Gateway is offerd by EU based PSPs making settlements extremely fast. Most merchants can expect T+1 and T+2 settlements.
API And Plugins For Easy Integration. A merchant account can be connected to the sales website. After that, the customers can visit and place orders online. The payment service provider gives the API information to the merchant. Business owners can connect their website to the payment processors gateway with API. Integrate easily with well-known website platforms like WordPress, Woocomerce, Shopify and Magento.
AI Filters. You want to reduce fraud transactions, and so do we. AI-based fraud filtering tool intelligently flags transactions that may be fraudulent. Thus resulting in less chargeback and more profits.
Your Permanent Payment Service Provider in Cyprus
For the growth of your online business in Cyprus, you will need a payment service provider, and QuadraPay is your partner in the search. Our payment service provider solutions come from leading acquiring institutions in Cyprus and the European Union. These solutions will give wings to your company, allowing you to expand your footprint to new nations without worrying about transaction problems. With our payment service provider partners in Cyprus, you will experience a truly Omni-channel payment experience, as we bring online, mobile, and retail payments together from one provider. One agreement does it all for you, eliminating the need for multiple bank relationships.
Cover All Popular Payment Methods In Cyprus
To offer you the best payment experience, our solutions come with the ability to accept the most common payment methods used in Cyprus. You’ll be able to easily accept almost all types of credit and debit cards, as well as over a hundred alternative payment methods. This gives you the amazing ability to accept payments not only from Cyprus or Europe but also from other parts of the world, including Latin America, Asia Pacific, the US, and Canada.
The ability to accept multiple payment methods in Cyprus will make your company truly international, offering a wonderful experience to your customers no matter where they are from. They will be able to use their preferred payment methods while doing business with you. Our service provider solution always stays ahead in the game by keeping a close eye on the changing dynamics of digital payments in Cyprus. We take pride in the fact that our service provider partners are proactive and add latest payment methods that will help you grow your business.
Cyprus Credit Card Processing FAQ
What sets a Cyprus merchant account apart?
Imagine it as a special bank account, different from your usual one. It’s from a bank that helps merchants deal with credit and debit card transactions. Now, in Cyprus, QuadraPay offers robust merchant accounts, and guess what? They’re powered by local Cyprus PSPs (Payment Service Providers).
Does QuadraPay offer High Risk Merchant Account In Cyprus?
Quadrapay has solutions for Cyprus based high risk merchants. We offer cost-effective credit card payment processing facilities to many high risk industries. Some of the key industries that may require high risk processing in Cyprus are CBD, Travel, Cruise, Gaming, Gambling and Remittances.
Why is Cyprus called the payments capital of Europe?
Well, it’s because it’s loaded with active payment solution providers, more than you’d think for its size. Now, here’s the cool part: QuadraPay can set you up with a Cyprus payment gateway to process credit cards at a low cost. We not only offer smooth rates but also offer fast setup.
What criteria must be met to open a merchant account in Cyprus?
The process is quite straightforward, thanks to the accommodating requirements set by Cyprus PSPs for obtaining an online merchant account. With various acquiring banks and processors available, placing merchants in Cyprus is notably easier, especially for high-risk merchant accounts.
The essential requirements include business registration, copies of basic KYC documents, and banking information. Additionally, for a Cyprus merchant account, you must submit website information, typically including domain registration proof. Suppose your business operates in regulated industries like pharmacy, gaming, forex, gambling, CBD, or insurance. In that case, special licenses are generally required and mandated by industry regulations.
Why is having a website a criterion for opening a merchant account in Cyprus?
We offer both online and retail credit card processing solutions in Cyprus. For online merchants aiming to accept payments over the internet, having a website or a mobile app is mandatory. During the application, you’ll need to provide domain information or mobile app details.
The underwriters at the acquiring company need to check where the traffic is coming from and its purpose. Evaluating the website helps processors understand the source and purpose of transactions. It might surprise you to know that acquiring institutions use various tools to gather solid information about a merchant’s business. This information helps underwriters in determining whether the merchant is to be considered risky or secure.
What are the advantages of opening an offshore merchant account in Cyprus?
Opening an offshore merchant account in Cyprus comes with several advantages. One major benefit is the ability to accept payments from 100 countries in different currencies. It broadens your reach and makes your business more accessible globally. For sectors facing higher risks Cyprus offers fewer trading restrictions, providing more flexibility for merchants.
Another significant advantage is the lower tax rates in Cyprus. It can contribute to cost savings for businesses. Choosing Cyprus for your offshore merchant account also means dealing with processors that are accommodating and equipped with modern payment processing features.
Moreover, Cyprus, as part of the European Union, enjoys a high reputation in the financial sector. Acquiring banks in Cyprus are considered grade one, and card issuers globally recognize them as reliable. It enhances the success ratio of transactions for businesses operating with a Cyprus-based offshore merchant account.
In which sectors can an offshore merchant account in Cyprus be particularly advantageous?
While a Cyprus merchant account can offer great benefits to merchants across various industries, it is in high demand among those operating in specific sectors. These include Skill gaming, Betting, Online dating, Adult stores, Forex, Crypto exchange, Peptides, and Pharmacy.
In fact, some of the largest players in these industries are based in Cyprus, enjoying global recognition. Cyprus is well-known for its friendliness towards sectors such as gaming, crypto, gaming and others. The advantages of a Cyprus merchant account make it a sought-after choice for businesses in these thriving industries.
Are there any restrictions on the transaction volume for businesses with offshore merchant accounts in Cyprus?
Generally, US and Canada-based payment processors prefer working with merchants whose monthly sales volume is up to 25,000 USD. It can be challenging for many merchants, as a practical viewpoint suggests that a monthly sales volume of 25,000 USD may not contribute much to a company’s growth.
However, when it comes to Cyprus-based acquiring banks, this is fine. Virtually you can process any amount, but the growth needs to be consistent. In the payment industry, any significant fluctuation, whether it’s an increase or decrease, can be a potential sign of risk or fraud. In essence, with a Cyprus credit card processing account, you have the flexibility to process a large volume of payments without strict limitations.
How secure are the solutions that QuadraPay offers in Cyprus?
Our solutions are provided by acquiring partners that fully comply with the latest payment card industry compliance. Our partner providers use various transaction security features like 3DS, Velocity check, Bin Blocking, AVS, and Tokenisation, to name a few.Â
How does QuadraPay differentiate itself from other payment gateway providers in Cyprus?
QuadraPay stands out among card processing solution providers in Cyprus by adopting a fully transparent and merchant-centric approach. Our primary goal is to bring savings to you. It’s important to note that many providers in the market offer similar services, which can work to your advantage. You have the opportunity to negotiate and choose the one with the lowest rates, resulting in significant savings.
With our solutions, you are not restricted to one or two card types. You can accept almost every card type you’ve ever heard of, and that too in multiple processing currencies. Settlement is smooth as we offer the option to choose the settlement currency of your choice. A merchant-friendly interface provides real-time transactional information, in-depth reporting, and risk notifications.
In addition to cost-effectiveness, our solutions provide access to over 100 Alternative Payment Methods (APMs). These APMs enable businesses to expand their reach to distant markets, including Latin America, Asia, and the USA.
How much are the fees for a Cyprus Merchant Account with QuadraPay?
For merchants, we don’t charge any application or setup fees. However, some merchants from high-risk industries may require mandatory high-risk merchant registration. It is a requirement determined by our acquiring partner. Apart from that, regular fees are applicable; however, our rates can vary based on various factors. We will provide you with a terms sheet after reviewing your profile to ensure fair pricing without overcharging.
What is the approval rate for QuadraPay merchants?
QuadraPay uses a unique approach for getting merchants approved, which gives up to 98% approval. Rather than approaching one provider at a time, we approach multiple providers and ask if they are okay with the URL. Once we know which providers are okay, then we choose the one that has the history of offering the lowest rates and highest approval. Keep in mind that this is only applicable to processing merchants that share all the required KYC documents.
What are the most common payment methods in Cyprus?
Cyprus is evolving in terms of digital transactions, with a noticeable decline in cash usage. Popular digital payment methods include credit cards, debit cards, internet banking, direct debit, mobile payment, e-wallets, QR Code and NFC payment. The younger generation is adapting to these new payment methods faster than the older generation. It’s essential to note that cash is still a major payment method in Cyprus.
Other widely used payment methods in Cyprus include Apple Pay, Amazon Pay, Alipay, and Mastero, among others. All major credit card brands are also popular in the country. The post-COVID era has seen a significant increase in the adoption of digital payments in Cyprus, aligning with the global trend.
Is Shopify an extremely popular platform in Cyprus?
Shopify is undoubtedly one of the most user-friendly and comprehensive e-commerce platforms. It allows users to launch their own e-commerce portal and sell products globally within just 1-2 days. The super-easy setup, intuitive interface, and competitive pricing make Shopify one of the most popular e-commerce platforms in Cyprus.
Shopify’s built-in ability to seamlessly connect to preferred payment partners makes it a perfect choice for entrepreneurs of all sizes. Setting up an e-commerce portal is easy with Shopify, and accepting credit card payments is even easier. Many of our partner providers offer solutions for Shopify sites in Cyprus.
How can acquirers in Cyprus collaborate with QuadraPay?
QuadraPay is always interested in expanding its partner network to assist merchants in Cyprus better. For this, acquiring partners can email us or fill out the contact form and let us know what services they wish to offer our merchant partners. Our partnership team will contact you and update you about how we can move ahead with collaboration. At this point, in time, we are interested in joining hands with acquiring partners that can offer low rates for online as well as retail credit card processing in Cyprus.
QuadraPay Your Cyprus Payment Services Solution Priovider Partner
QuadraPay is your go-to choice when it comes to payment gateway, and merchant accounts in Cyprus. We have been assisting merchants since the year 2016 and are extremely proud to have assisted thousands of merchants globally. Our connectivity with local and international payment service providers empowers us to offer you a variety of payment solutions to enhance your business operations.
QuadraPay belives in helping merchants at every step of payment processing journey. Whether you are running a local brick-and-mortar store in Nicosia that requires a payment terminal or you are an international eCommerce business from Limassol, our solutions are tailored to work for you. Join us today for A Grade credit card processing experience that will help you stay away from predatory pricing and save your hard-earned money by offering you low-cost credit card processing in Cyprus.
