Merchant Account and Payment Gateway in Andorra.

Businesses selling their products and services to customers in Andorra or outside Andorra need payment gateways and merchant account.

Andorra is a beautiful principality located in Europe. In the history of few 100 years, Andorra never went to Payment Gateway in Andorrawar with any of its neighbors. Andorra attracts investors from across the globe, and it’s an appropriate destination for travelers. The Principality has one of the highest GDP in Europe. The financial strength of this Andorra makes it a perfect destination for investment and retirement. Andorra also offers low tax structure to residents and businesses. With world-class infrastructure companies located in Andorra are actively participating in trade with neighboring countries as well as nations in North America and other parts of the world.

Now that we have a basic understanding of this attractive destination located in Europe let’s talk about merchant account for businesses located in Andorra

Businesses located in Andorra offer products and services to customers within the principality and to other nations. For this, they require a payment gateway and merchant accounts. To get a payment gateway and merchant account the merchant must ensure the availability of the entire KYC documents. KYC stands for know your customers. Apart from the KYC document, the merchant will also be required to submit a completed merchant account application form. If the merchant is interested in getting an Internet payment gateway or online payment gateway, then the website fully compliant with the card schemes guidelines.

Few Website Compliance Requirements.

  • Clear Product description
  • Clear Terms and Conditions
  • Clear Shipping policy
  • Easy to understand Return Policy
  • SSL Enabled Website
  • Contact Details and Support Information

Credit Card Processing in Andorra – Card Present Transactions.

The are two ways of accepting credit card transaction. The first way is to take credit card transaction in store. The second way is to receive credit card transaction over the Internet/Phone/Mobile app or IVR. Since Andorra has a vast number of restaurants and other retail businesses, there is a high demand of Point of Sale Devices and Mobile POS Terminals. These devices are highly advanced and accept domestic and international credit debit cards with built-in security chips.

CNP – Card Not Present – Credit Card Processing in Andorra.

Apart from accepting credit card in-store transactions merchants are also interested in taking credit debit card transactions over the internet. The Internet is available in almost 100% of homes in Andorra. Most businesses have their websites as well. These businesses can easily integrate merchant account and payment gateway on their e-commerce website by using the API documentation provided by the payment service provider or the PSP. Once the payment gateway is integrated the merchant can accept transactions from the site. Customers can use their preferred credit or debit card to make purchases on the merchant’s website. The payment gateway ensures the security of the credit card information through the entire payment processing cycle. High Risk Merchant Accounts in Andorra may only offer API Integration, but Low Risk accounts may get Virtual Terminal/MOTO on a case by case basis.

Echeck and ACH Payment Processing for Andorra Based International Merchants

Some merchants from Andorra also sell products and services to customers in other parts of the world. It also includes the United States of America. Merchants can also use ACH and Echeck Payment Processing solution if they sell in the United States of America. ACH payment processing is a reliable mode of payment transfer between businesses in the US. Many third-party ACH payment processing companies offer their services to Non-US Merchants as well. It means they can offer ACH payment gateway to non-us residents and this also includes businesses in Andorra.

Chargeback Alerts And Notification Services for Andorra Based Merchants.

International  Merchants in Andorra should also analyze the possibility of using chargeback alert and notification services. These services help merchants in reducing the chargeback ratio.  Apart from lowering the chargeback ratio, these services can also effectively help merchants in reducing the percentage of fraud on the gateway. Chargeback notification service sends an alert to the merchant when the cardholder contacts the card issuer for disputes. These services do not offer 100% notifications. These services are very useful if the cardholders are from nations like USA, Canada, Australia and the United Kingdom.

White Label Payment Gateway For Andorra

Andorra is becoming a preferred destination for Fintech Entrepreneurs. They may also be interested in establishing a Fintech company in Andorra. For these companies, a White label payment gateway can offer considerable cost saving. With a White Label Payment Gateway Fintech Companies and Resellers from Andorra can easily rebrand the frontend and the backend of the compliant gateway. Fintech companies may not have to invest in the cost required to develop their gateway. Many merchant account brokers or Independent Sales Organisations use White label payment gateways.