Online Payment Gateway Lebanon
Getting sales traffic on international e-commerce websites has become a challenge for entrepreneurs in Lebanon. It is because of the high decline ratio on the foreign card transaction due to securities issues. Many Lebanese startup entrepreneurs are doing businesses like Catering, Coffee shop, Courier, Gardening, Online Dating, Consulting, Travel and Recruitment. These businesses require online payment gateway in Lebanon to accept local and International payments. Quadrapay is a merchant service reseller firm that assists merchants in finding international payment processing solutions. Quadrapay is a registered reseller partner of many PSP’s from the world over. Many of these PSP’s are excited about onboarding merchants from Lebanon. Entrepreneurs who are looking forward to getting international payment gateway can undoubtedly contact Quadrapay. The Team at Quadrapay will be glad to assist you in finding the most effective payment processing option for your online business.
Website Compliance For Lebanon Payment Gateway
KYC And Underwriting Of Lebanon Payment Gateway
The payment service provider asks for the copies of the KYC documents of the merchant. These KYC documents help the PSP’s to evaluate the merchants risk exposure. These docs also help processors to understand the business model and associated risk levels. Following are the list of documents which merchant should ideally send to a ISO,PSP or Acquiring Bank.
- Certificate of Incorporation
- Utility Bill of the directors
- ID and Address Proof of all directors
- Business Financial Statements
- Cancel Check of Business Bank Account
- Processing History of The merchant’s business
- Business Plan(Optional)
- Organisational Chart(Optional)
- Last Year Profit and Loss Statement
- Reseller or Supplier Agreement if Available
- Legal View point from an lawer about the business model(Optional)
- Previous Year Profit and Loss Statement(Prepared by a Thired Party Auditor)
- Bank Statement of the company and Directors
- Any other industry recognitions or liscences if available
Please note the more relevent documents you share with the PSP the easier it will be for the payment gateway company to have trust in you.
Quadrapay And Lebanon Merchant Processing
As we said before, Quadrapay is a merchant service reseller company. It works as a connection between business owners and payment processing companies. Following are the steps which help the lebanon based merchants to understand how Quadrapay works.
- The team at Quadrapay contacts the merchant to understand the business model. The team will ask for the business website URL and send it to the credit card processing company. The payment processing company will evaluate the business for risk and compliance parameters.
- If approved, the Team at Quadrapay will come back to the merchant with a solution and tentative rates. The Team also ask for merchant account application and KYC documents of the business at this stage.
- After getting the KYC documents, The team at Quadrapay forwards the same to the payment processing company for the underwriting process.
- If the lebanese merchant gets the approval, then the processing company will send the merchant account agreement to the business owners. We advise all merchants to read the terms carefully, sign it and send it back to the processor for activation of the account.
- After getting signed agreement from the merchant, the credit card or ACH processing company will provide access of payment gateway with username and password. Some processors may offer Virtual Terminal, MOTO and 2D payment gateways also.
Benefit With Quadrapay
- The merchant can get multiple modes of payment processing option with the help of Quadrapay. These include Global Credit Card processing, Virtual Terminal(VT/MOTO), USA ACH and Echeck and Bitcoin Payments.
- Easiest Integration process.The team offers free support for the integration.
- Secure and reliable payment options. Merchants get real-time transaction results.
- Merchants can get fast payout, quick account setup, funds reconciliation and Settelements.
- All the Credit Card Payment gateway companies that we work with are PCI DSS compliant.
- Merchants can get multi-currency payment gateway. Buyers can make payments in their local currencies. Cross border payments in not a problem for lebanon based merchants.