WebPays is a brilliant example of a modernized digital payment solution, especially an International payment gateway that strives to improve the payment system regularly, with its exceptional services worldwide. The WebPays team is committed to assisting customers in every possible way to satisfy their needs, personalize their payment system, and provide a sense of security regarding transactions and financial information. We provide innovative payment processing solutions as a global fintech organization. We offer all possible solutions to help
merchants, so they can focus only on their business sales.
With the latest technology advancements in the fintech industries, anyone can expand their business globally. Not only the big brand name but most small and medium-sized enterprises are trying to target global customers. A payment gateway with a wide range of currency support is necessary to meet this requirement.
It is a massive decision for any business to expand its sales worldwide. It required more strategic planning in the whole process than it may seem at first glance. One of the technical issues online merchants deal with is selecting the safe, secure, and best international payment gateways.
How to pick the right one? Do you know? Well, it is a difficult task, but not impossible. What features are essential for the international payment gateway are described below. Also, we recommend the best global payment gateway that fits all types of businesses.
What are International payment gateways?
Businesses that accept foreign currency and allow their foreign customers to make the payment in their currency need an international payment gateway. International payment gateway interfaces with multiple languages. This type of transaction is also known as border cross payment or global payments.
Do you need an international payment gateway for your business?
Today, everyone wants to become a global brand. But, to become a global brand, the first thing that comes to mind is how to accept payments from foreign customers. Right? So, to accept payment from your foreign customers, you ought to need an international payment gateway.
The international payment gateway is not like the regular payment gateway. The working process of the global and the standard payment gateway is the same, but the international payment gateway comes with more features and security. Some features of the International payment gateway is –
•With the help of the international payment gateway, foreign clients can make payments in
their currency without hassle.
•The international payment gateway comes with maximum security to prevent chargebacks
and fraud.
What does an international payment gateway do?
The primary responsibility of the International payment gateway is to deal with the payment transactions between two different payment systems. With the help of an International payment gateway, the merchant can quickly receive funds from foreign countries and convert different currencies.
Like the regular payment gateway, the International payment gateway also transfers sensitive data related to the customer’s payments and bank to the merchant. It also notifies the customer about the “acceptance” and “refuse” of the transactions. The international payment gateway also verifies whether the customer has sufficient funds in their account or not.
The international payment gateway encrypts the customer’s card details and payment information.
Generally, it is an intermediate between the customer bank and the merchants to ensure the
transactions are safe and secure. It helps various payment systems operate steadily and makes it easier to conduct online transactions between nations or areas.
You can try to understand that an International payment gateway does the following works –
•Transferring and analyzing customers’ information and data.
•Assist merchants in confirming the legitimacy of payments as well as customers.
•Make various payment methods operate steadily.
•Maintain the privacy of payments and transaction data.
•Improve the convenience of payments between different systems.
Five tips for choosing the best and most secure international payment gateway?
Nowadays, various fintech service provider is available. Each service provider has its pros and cons. Choosing the best international payment gateway that fits your business needs and requirements is always a headache. So, to make your work easy, we have some tips. These tips help you to choose the best and most secure international payment gateways.
International acquiring connections
A network of acquiring banks that refers to the global is known as the global acquiring bank. The payment service provider can recommend the most appropriate bank according to international business and guarantee the best term for the merchant.
It is critical to recognize the importance of the acquiring bank network as it handles the transactions on the merchant’s behalf. Today, most merchants work globally and face many difficulties, like choosing the right bank for all the locations, etc. But, this problem can be solved by dealing with international acquiring connections.
The merchant can also prefer the high-risk merchant account to accept foreign currency. Once
merchants can deal with the international acquiring connections, they can get many benefits –
•As the merchant deal with the right local bank, they have to pay the lower fees.
•A reduced decline rate since the payment service provider links the merchant to a bank
with expertise in processing payments for its industry.
Payment method according to the geographically specific
Every country has its preferred payment methods, and if the customer does not find their preferred payment method, it is likely to cause cart abandonment.
Before going with any of the International payment gateways, it is essential to do lots of research about your target markets and know the solution to the following query –
•What are the popular e-wallets solutions?
•Local payment methods?
•Are payment preferences homogenous or diversified?
Once you know the solution to these queries, choosing the best international payment gateways becomes easy.
There are some universal payment options, such as credit and debit cards. It is one of the most popular payment methods globally. So, accepting credit/debit cards is a must. Other methods include accepting cryptocurrency, e-wallets, and many more.
Always remember that number of payment methods never matters. The main point is what payment option you provide to your customer and whether it is preferable in your target countries. Also, remember that offering your customer some choice will make them more satisfied and help you to keep your conversions high.
Target Markets-Adapted Transaction Currencies
When looking for an International payment gateway, you should also consider the currencies. Here, we distinguish two types of currencies in the context of online payments –
Transaction Currency: Your e-store or app’s consumers will see the transaction currency there. Their accounts or credit cards will only be charged in the currency shown on the website. For example, if your product costs EUR 100 and a UK customer pays with a GBP credit card, the transaction will still be processed in EUR. The card scheme and issuing bank will determine the foreign exchange rate and other expenses.
Settlement Currency: The currency in which the money from the merchant e-store or app is transferred to your bank account is the settlement currency. The acquirer typically chooses the foreign exchange rates and other fees if the settlement and transaction currencies differ.
Settlement currency is always an issue, but transaction currency is the most important from the consumer’s point of view. When the prices are shown in foreign currency, the customer gets confused. Not every customer has the patience to calculate the final prices. In this case, the customer prefers to avoid it.
Every country has its VAT rates. So, as a merchant, you should also keep this in mind. Always go with the international payment gateway that offers a broad scope of transactions and settlements to avoid cart abandonment
Security
You are dealing with International clients, security is your top priority. Enterprises that deal with
International clients are more exposed to payment fraud than one that deals with domestic clients.
So, ensure that the international payment gateway has complied with the PCI DSS level-1. Also, it
has anti-fraud tools, anti-chargeback tools, etc. It helps to minimize the risk.
International Payment gateways?
Nowadays, various payment service provider is available, so choosing the best one is quite challenging. If you are entirely new or cannot decide which fintech service provider is best for your international business, we suggest you go with WebPays.
As “WebPays,” we are one of the leading and trustable fintech service providers offering you all the possible solutions. As you are dealing with international customers, we offer you a high-risk merchant account and a high-risk payment gateway for your businesses. We have experience in dealing with all types of businesses at global levels.
Why is WebPays International payment gateway preferable?
Most merchants prefer WebPays as their preferable international payment gateway because it offers many benefits to the merchants.
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Approve the high-risk merchant account within 3 to 5 working days with proper
documents.
•Allow the easy checkout process for international clients.
•Our setup process is straightforward.
•Full access to the merchant to manage their transactions, refunds, etc.
•Provide 24*7 real-time reporting.
•We offer tech-savvy security tools like anti-fraud, anti-chargeback, etc. We also cover all PCI
issues.
•Provide multiple payment options to the merchant, from credit card processing to
alternative payment options.
•Our pricing structure is simple and affordable.
Our deals with various industries
As a global fintech service provider, All types of businesses, from high-risk to low-risk businesses. We specialize in dealing with high-risk businesses such as casinos, adults, gaming, forex, fantasy, cigarettes, tech support, tobacco, IPTV, and many more.
Conclusion
Plenty of international payment gateway companies are available. Choosing the best one is quite challenging. So, we figure out some tips which help merchant to choose the one –
•International acquiring connections
•Payment methods
•Target method adaptions currencies
•Checkout page fully translated
•Security
Still, if you have difficulty choosing the one, you can go with our preferred service provider, WebPays.
The best fintech service providers worldwide deal with all types of business. The best solution for your business at the best rate in the market. You can contact our expert team without hesitation to learn more about our services.
