Merchant account in Monaco
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Payment Processing in Monaco
Principality of Monaco
Monaco is one of the most prosperous capitals of the world. 30% of population are millionaires and is considered as playground for rich. Low tax rates on business and luxurious lifestyles has attracted many foreign companies to invest which in turn has lead to better GDP rate which amounts to EUR 5.85 billion (2016). The famous Monte Carlo Casino has led many tourists to visit this French resort. As per the Google data around 75% of population are internet users in Monaco. The major area of focus in business includes: Gaming, Tourism, small scale industrial and consumer products. The export partners are: Europe, Africa, Asia and America.
Gaming Merchant account
Monaco is famous for its glamorous casinos and gambling centre. The online gaming business is no less in Monaco. Business owners face array of challenges when it comes to online gaming and casinos. This merchant account is termed as high risk because of high chargeback rates for both the merchant and merchant account providers. Careful evaluation of processors is needed for secured transactions and timely payments. We, at Quadra, do a complete study of various card processing partners and provide customized solution of different processors based on the business needs. We act as a liaison between the merchants and merchant service providers for cost friendly and hassle free transactions.
Merchant account in Monaco
In today’s e-business scenario, it is very much essential to understand the significance of merchant account services. The opening of merchant accounts with payment gateway processor has made the online transactions more quick and secure as compared to earlier complexities on online payments. There are quite a lot of payment gateways providers in Monaco and it gets difficult to choose the right processors for the online business. Let us understand the benefits of merchant account, the payment gateways services, the online business trends and economy of Monaco!
How To Choose a Reliable Payment Processor For Monaco Based Business
Selection of merchant account providers becomes difficult for the online retailers due to high fees and severe terms. We, with our own dedicated team, can help to choose the right processor company for online credit card processing transactions in and outside Monaco.
Our evaluation of the payment gateway companies in Monaco includes:
The benefits of merchant account services
By setting up the merchant account, the business owners can reserve the payment received from credit or debit transactions online. They can either tie up with the bank to set up their merchant account or through selection of suitable merchant account providers to procure the online payments.
The merchant account with the bank helps in crediting the account with the customer funds but with risk at the business owner’s end for the timely delivery of goods and services.
The other method is to find the online merchant service providers for setting up the merchant account. The merchant providers will set the transactions with their sponsored banks and a real time processor based on the processing method involving credit / debit card payments.
The merchant account for online retailers has proved beneficial for their business due to lower percentage fees on credit card, refundable returns, less fees on high volume sales and more control on refunds and charge backs.