What Are The Requirements For International Online Merchant Account

Merchant Services Q&ACategory: Payment ProcessingWhat Are The Requirements For International Online Merchant Account
Maurya Shubham asked 4 months ago
1 Answers
Bankim Chandra Staff answered 4 months ago

The requirements for online merchant accounts are as follows

  1. PSP will need the merchant to be a registered firm. This can be even a sole proprietor firm registered with government
  2. PSP make payments to the business account of the merchant and not directors personal account. So the merchant must have a business bank account
  3. PSP will need an active website. This is the most important thing. The website must have traffic. Social media handles should be updated to improve the chances of approval
  4. Check the online review of the company. PSPs will lookup lot of things on web. Company Name, Number, Email and Website. This is done to check if the company has a bad reputation. Some negative reviews may be ok as large companies always have some negative reviews however the the intensity of the content can have a significant impact on the decision of the underwriter.
  5. Be quick in responding the the emails of the PSP. If they ask something provide it.
  6. Ensure you have a system of collecting proof of delivery and proof of service.