Online Payment Processing in Kuwait
It is vital for any business in Kuwait to get a payment gateway for online payment processing. Quadrapay is excited to announce our recent partnership with a well-known payment processing company in the Middle Eastern region. Now Kuwait based businesses get readily accept payments online by using payment gateways and merchant accounts. Enterprises can now willingly take well-known credit and debit cards and get paid in their business bank account at regular intervals. Card payments are becoming extremely popular in Kuwait. Retail stores prefer to use point of sales machines to collect face to face payments. E-Commerce Merchants use online payment solutions that integrate seamlessly with the business website. Multiple acquirers across the Middle East region offer low, mid and high risk merchant account services.
The process of getting a merchant account in Kuwait is swift as Quadrapay works as a bridge between your organisation and the payment service provider. We also welcome applications from high risk businesses that are looking forward to getting reliable merchant services. Our team will identify the specific payment method needed for your business and help you to get the most effective processing service provider for your industry. These payment service providers offer multi-currency payment options. This means merchants can offer their products and services to buyers across the world. To get started with merchant account services you will have to send us the application. You can quickly fill the contact form available on our website. Our team will get back to you within a few working hours.
International Payment Gateway In Kuwait
The oil-rich economy is becoming one of the most promising destinations in the mid-east region. Many entrepreneurs from Kuwait have established popular e-commerce websites. These entrepreneurs are aggressive and plan to excel at the global level. To excel in the international market, these business owners require International payment gateways in Kuwait. Local processing company may only help you with local credit card acceptance, but with international payment gateway, you be able to accept payments from customers located in different countries. At this time our payment processing partners allow merchants to receive payments from customers in more than 150 countries. To ensure the security of transaction the processing partners implement the 3D secure filter that helps merchants in reducing fraud transactions. These Credit Card processing companies also offer subscription and recurring payments mode. Merchants that are classified as high risk can also apply for International merchant accounts.
Features Of International Payment Gateway In Kuwait
- Our payment processing partners offer economical pricing to all merchants in Kuwait
- The payment gateway is easy to integrate. It takes less than a few working hours for the entire integration process.
- Processing companies also help merchants with readymade plugins for faster integration.
- Dual level of fraud prevention helps businesses in reducing the fraud ratio
- The team at Quadrapay will be happy to get you connected with a reliable chargeback notification service provider. By using this service Kuwait based merchants can quickly reduce their chargeback to sales ratio
- Echeck processing service for international merchants in Kuwait is also available. Our partnership with a well-known third-party ACH processor in the USA can help merchants in Kuwait on a case by case basis.
To get more information about how you can get started with Credit Card processing and International ACH for you Kuwait based business, we strongly recommend you to send us an email on [email protected].
Requirements For Kuwait Payment Gateway
In the financial service industry KYC play the critical role. KYC means merely know your customer. Every financial institution is responsible for collecting these documents before offering any service. The list of KYC documents can be different depending on the type of industry in which the merchant operates. Here is a list of most common KYC documents that are needed for low and high risk merchant accounts in Kuwait.
- Business licence or certificate of Incorporation: This is a document that proves that the organisation is registered as a business and is authorised to perform trade activities.
- Identification proof of the business owner: It is vital for any financial institution to ensure that they know that who is the beneficiary of the specific merchant account. For this business owner may have to submit copies of the Driver’s licence, Passport, National ID or any other relevant documents.
- Address proof of significant stakeholders: Processing companies will require business owners to submit a proof of address. This is usually a subsidiary document along with the driver’s licence. These documents show the residential address of the business owner
- Business location proof: Sponsor banks, Payment service providers and acquiring Institutions require the merchant to declare where the business is being operated from and where it is registered. Merchants must submit a utility bill that displays the address.
- Business bank statement/Letter of good standing/Void check: Any of these three documents will work to identify the genuineness of the depository bank account. The merchant must have a bank account that accepts Swift transfer, and that is why the processing company may ask for Swift code of your business bank account.
- Reseller Agreement Or Supplier Agreement: If the product or services are not developed or manufactured by the merchant, then the processing company will undoubtedly ask for these additional documents. These documents will help the processing company to identify the source of the product.
- High Risk Merchants should share the business plan as well as last year profit and loss statement. Sharing your previous processing history can also help you in improving the chances of account approval.
To get more details about how you can qualify for a low mid or high risk merchant account in Kuwait, please send us an email on [email protected].