The Forex Industry has always been a challenging industry for both brokers and traders. Thus, getting over the hungry competition with Forex Payment Gateway UK will bring your business to the forefront. EskayPay is a Payment Service Provider that supports high-risk sectors like FX.
“The worldwide 2021 forex market is worth $2,409,000,000 ($2.409 quadrillion).” (CFB)
A payment processing channel from a trusted PSP will throw in reassurance to your business. It is just like a supporting pillar for your FX Broker business.
However, getting a PSP for your high-risk business is a time-consuming task. And if you are not familiar with the important features and benefits of the Payment Gateway then you are at the risk of loss.
Know what you need from Forex Payment Gateway UK
A reliable PSP will provide you with complete assistance. However, it is not true regarding all the PSPs out there. Google is full of service providers and some of them are not reliable or secure. Therefore, whenever you enquire for a PSP you need to ask for:
- Set-Up fees: what are the charges for setting up a payment gateway (One-Time Fees)
- MDR: an acronym for Merchant Discount Rate
- Rolling Reserve: is the fees charged on every transaction for the security of chargebacks.
- Settlement Time: what will be the settlement cycle for the payments.
These are the initial questions you need them to address. Furthermore, you need a high-risk merchant account to accept the payments to the account. There are the features that they offer and the benefits that you can cherish for your business.
What shall be the add-on features of an FX Payment Processing Channel?
The features of the payment gateway that a PSP provides are crucial for your business. Therefore, here is a list of the features that you need to address while getting a payment gateway after getting a Forex Merchant Account.
- Multiple Modes of Payment: a convenience feature that you need to provide the traders. FX involved a payment method that can process the payments with ease. Multiple modes of payment allow the traders to choose from their most preferred mode of payment. It will enhance the payment experience for the traders.
- Global Card Saving: a feature that is common today yet not provided by many service providers. It allows the payers to save their transaction details for future use. It enables them to pay quickly without entering all the payment credentials again. This is a great supporting feature of the Payment Processing Channel by Eskaypay.
- Easy Checkout: re-directionless checkout is essential as most consumers tend to abandon a payment if there are more redirections from a single window. Therefore, your FX business needs a payment gateway that provides a single window for all the payments.
- Security: never compromise on security for any affordable services. Ensure that the payment gateway is PCI Compliant level 1 and has credible authorization for the SSL Certificates. As the payments contain sensitive data, the security of the information is a duty that you need to undertake. EskayPay’s Forex Payment Gateway UK is equipped with the essential compliances and certifications for payment security.
- Tokenization: tokenization is referred to the practice of providing a token to every transaction detail that is saved for future use. It converts the sensitive data of the transaction details into non-readable data that is significantly safe. Slowly the tokenization is becoming mandatory as the global card saving stores sensitive data of the consumers.
The list of the features extends more and more. However, these are some of the features that you need to have without compromise. Furthermore, there are some of the benefits that you get when you purchase a Forex Payment Gateway UK from EskayPay.
What are the benefits that your FX business will get?
Getting the features ready for your business is the first step towards getting the global reach through a great payment experience. Therefore, keep the benefits of using a payment processing channel in mind.
Global Reach: a payment gateway allows you to reach a global audience for online payments without any restrictions. Local currencies and languages for different countries bring a sense of convenience and a better experience. Therefore, you can extend the FX Broker business to distant lands faster.
Process and Accept Online Payments:
it is the work of a payment gateway to process the online payments on your website. Therefore, you need to get a payment processing channel embedded on your website and start with online payments. The revenue generation for your business aids you to generate better strategical planning for your future.
24 x 7 Real-Time Reporting:
the reporting of the payments is essential. It allows you to manage the payment better and keep a keen eye on the records and the consumers. Combined with Eskaypay’s Powerful Dashboard the reports are generated at a single window for you to easily manage the reports.
All-day Open Business:
setting up a payment gateway opens your business doors even at night. It allows your consumers to pay conveniently from anywhere in the world while it’s your time to relax. Thus, the transactions can be easily completed at the convenience of the Traders.
Chargeback Management and Fraud Prevention:
Eskaypay’s payment gateway are equipped with fraud prevention through various methods. Moreover, you can manage the chargebacks from the dashboard by alerts, automation, and direct addressing of the chargeback.
These benefits with the Forex Payment Gateway UK delivers a better Broker environment for your business.
Conclusion
To sum up, a payment processing channel is an integral part of the online business. The benefits and the features that you get for your FX Broker business attend to the payment experience.
It plays a vital role for the traders as they need a fast and reliable payment method for trading. The payment processing channel by Eskaypay is a coherent system for your FX business. This will allow you to reach a bigger audience and manage all the payment process in one place.
You May contact EskayPay today to start with the Integration process and get complete merchant assistance for your business.
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