Iceland is a Nordic nation in the North Atlantic. The population is only about 0.4 million. As per Wikipedia, the GDP per capita is about 59,977 USD. The E-commerce penetration is about 32 percent. The financial strength of Iceland makes a right destination for foreign direct investment. Iceland offers low Tax structure for businesses. Companies in Iceland actively participate in trade with other nations around the globe. Iceland is an appropriate destination for travelers too.
Merchant Accounts And Payment Gateways In Iceland
Many traders selling their products and services to customers in Iceland, as well as outside Iceland, need payment gateways and merchant accounts. Iceland attracts investors from across the globe. Businesses located in Iceland offer services and products to customers locally and in other countries as well. For, this they require payment gateways and merchant accounts. To have a merchant account and payment gateway the merchant should have proper documents and a Valid Business License.
Iceland Merchant Account KYC Requirements
Merchants should have all the KYC documents that are needed to get a credit card processing account. To get a processing account, the merchant has to submit a complete merchant account application form with all the KYC to the PSP(Payment Service Provider). If the merchant is interested in online payment gateways, then they have to follow the specific steps. The first and the most critical step is that they must have a fully functional website.
Echeck and ACH Payment Processing For Iceland Based International merchants.
Iceland based merchants can sell their product and services to the customers in other parts of the world by using online payment gateways. Merchants from Iceland can use ACH and Echeck Payment Processing solution if they sell their products in the USA. Many USA based third-party ACH payment processing companies offer their services to international merchants outside the US including Iceland. USA ACH payment processing is a reliable mode of payment processing between firms in the US.
Chargeback Alerts And Notification Services For Iceland Merchants
Chargeback alert and notification services can help Iceland based merchants in reducing the chargeback ratio. In Iceland, international merchants should analyze these services. Chargeback notification service sends an alert to the merchant when cardholders contact the card issuing bank to raise disputes. Apart from lowering the chargeback ratio, these services can also effectively help merchants in reducing the fraud ratio on the payment gateway. These services do not offer 100% surety, but they can alert merchants most of the time.
Online Payment Gateways For Iceland
In today’s world, every business owner understands the importance of payment gateways. It is safe to use online payment gateways with features like Mobile payments, Wallet to Wallet payments, Debit and Credit card processing, etc. Without payment gateways, it’s not easy for businesses to grow and expand. Honestly doing cashless transactions with Credit cards and Debit cards is the need of the hour. With online payments and multiple currency processing options, Iceland based merchants can get high chances of earning reasonable profits for their business activities.
Quadrapay Assisting Iceland Merchants With Credit Card Payment gateways
Quadrapay is a fast growing merchant services reseller company that works with merchants from multiple nations including Iceland. Let us help you in finding a reliable payment processor for your Iceland business. You can connect with us on facebook.com/quadrapay or twitter.com/quadrapay. You can also email our merchant support team on [email protected].
