QuadraPay Offers Advanced Estonia Merchant Account With Multi-Currency Processing.
We offer Estonian merchants an advanced payment gateway with high security and faster settlements. Accept payments from over 100 nations. We offer online and retail credit card processing in Estonia. Let us look at a few of our Estonia Merchant Account Solution features.
Multi-currency Gateway. Start accepting payments from buyers in multiple nations. Our Solutions come with a multi-currency gateway. Our solutions are backed by EU based banks and offer high reliability.
Virtual Terminal. Estonia based merchants with six months of decent processing statements can qualify for Virtual Terminal for MOTO Transactions.
Fraud Reduction Tool. Advanced tools like 3DS, Geo filter, and AVS help reduce fraudulent transactions.
Low Transaction Rates. Interchange Plus Plus pricing helps businesses reduce the cost of card transactions. We also have various APMs that are extremely affordable.
Estonia Payment Service Provider For Retail Sales. POS Machine For Retail Payments.
We offer eCommerce as well as retail credit card processing in Estonia. This makes us a truly omni-channel payment solution provider. Our brand new payment terminals come with advanced features.
- Full EMV Compliance
- Full PCI Compliance
- Contactless Payments
- Touch Screen
- Dual Sim
- Wireless 4GLTE/3G/2G/Wifi/Bluetooth/Ethernet/USB
- Heavy Battery With Fast Charging.
- Weight < 400 Grams.
Approval Process Of Estonia Credit Card Processing Account.
Estonian merchant needs to know the basics of merchant underwriting. The basics help merchants save time and increase the possibility of grabbing better rates. Let’s look at the application flow.
For Estonian merchants, we have two types of payment solutions.
- Payment Solutions Powered By Domestic EU Banks/PSP. Mostly used by low-risk merchants.
- Payment Solution Powered By Offshore Banks/PSP. Mostly used by High-Risk Estonian merchants.
The application process for both solutions is simple. The merchant needs to submit some documents. These are called the KYC or know your customer documents.
- Filled Merchant Application Form
- Certificate of incorporation. It is the business registration proof. It should be verifiable. The following are the common legal forms supported by our acquiring channels.
- Private limited company (OÜ)
- Public limited company (AS)
- General partnership (TÜ)
- Limited partnership (UÜ)
- Commercial association (ühistu)
- A non-Profit organization (NPO)
- The sole proprietor entered the Central Commercial Register.
- Identity Proof of directors
- Utility Bill for business and home address
- Past processing history, if available
- Business bank statement
- Any licences as per the business model that may be necessary.
Rates And Fees Of Payment Solution In Estonia
We offer highly competitive pricing to our merchants. We have three pricing structures.
- Fixed Pricing. It is a fixed percentage on each transaction a merchant will pay. The fee does not vary depending on the card type used by the cardholder.
- Tiered Pricing. We use this model with merchants who progressively plan to increase their monthly sales volume. A higher sales volume attracts a lower fee.
- Interchange++ Pricing. It is one of the most transparent models. The merchant pays a fixed percentage on top of the card issuer and card scheme fee. The merchant account statement will show the volume as per card type.
High-Risk Merchant Account Services In Estonia.
Sometimes few businesses may be classified as high-risk merchants in Estonia. A regular payment gateway does not work for these businesses. These merchants require high-risk merchant accounts. Local banks may refrain from offering this kind of solution. QuadraPay is a high-risk specialist and offers assistance to high-risk merchants in Estonia. We specialize in working with merchants from categories that attract a high chargeback ratio. Our solutions come with various measures like 3DS, address verification system and velocity check to reduce the chargeback ratio. Some of the most common industries that require high risk processing in Estonia are bitcoin, casino and dropshipping.
You can certainly contact us if your running any high-risk business in Estonia and have been rejected by local Estonian banks for card processing and IBAN.
Top Payment Methods In Estonia
Ecommerce usage is very high in Estonia, and thus credit cards are the most used payment method in Estonia.
The most popular credit card brands used in Estonia are Master Card, Visa, JCB and American Express. Other popular payment methods include.
- Bank to bank transfer
- Prepaid Cards
- Contactless payments
- Instant payments
Estonia Payment Services FAQ
Is there any payment gateway in Estonia that supports Shopify?
Shopify is one of the most popular website building platforms in Estonia that supports eCommerce. However, not every processing company does offer Shopify integration. Fortunately, QuadraPay partners offer Shopify integration in Estonia and other EU nations.
Does QuadraPay offer Payment gateway integration in Estonia?
We offer free integration assistance to all our merchants. Most of the time, our solutions come with a ready-to-use integration module. Plugins are available for the most used content management systems in Estonia. However, if there is any customer requirement, feel free to contact us, and we can discuss it.
About The Estonia Payment Landscape.
Estonia can be considered an advanced digital economy with a fast-growing percentage of card usage. The nations started with online banking way back in 1996 and started mobile banking in 2000. The nation and its users are highly literate in the digital payment space.
The most used payment instruments are credit and debit cards, and after that, it is SEPA ICT(Instant Credit transfer). Industry experts believe that banks will face tough competition from PSPs/ISO and Payment facilitators (corporate payment institutions) in the coming years as these players focus on niche markets.
References European Payments Estonia Payments Report