Are you thinking of starting an ecommerce store? Searching for an online payment tool that can help you in accepting card payments? If you answered yes, to these questions then you can find a way out by integrating a web payment gateway to enjoy seamless acceptance of plastic money by your customers sitting in any corner of the planet. If seeking to serve international customers, you can choose international payment gateways. Wondering the procedure of getting acceptance is very time consuming and hectic? Forget it all, as opening a payment gateway account is as easy as counting numbers, what you need is choosing the right payment gateway service provider. If still unsure about how you can open a payment gateway account, then read through what follows…
The first question- what all you need to get a web payment gateway integrated with your e-store?
You can begin by filling an online application form which is offered by almost every payment gateway service provider which will take just 15 minutes of your precious time. After this the documents you require to win an approval include:
- The registration number and registration address of your company
- The bank account details of your company account
- Basic information about who owns the company, their names, age, DOB and the share they have in the company
- Some information regarding your shopping card and store builder admin
- Details of credit or debit card that you will use while making payment
- Your company must be SSI registered
Some payment gateways may also ask for:
- Proofs for company’s address and name
- PAN card details
- Bank statement of past one year
The documents are more or less same but may differ slightly with different service providers.
The next step:
After you have filled the form and submitted the needed documents, a confirmation by email is send to your account.
- The Payment Gateway Service Provider then reviews the application and documents and contacts you by email asking for details like what is your online merchandise and what services you offer.
- After application approval, the process of integrating your website with the payment processor begins.
- There you will get a URL and login details for your MAI, it’s the basic tool that offers info that what all facilities are being made available to help you manage the payment part for your company.
The main question- what is the cost of getting payment gateway service?
In addition to a monthly fee which is charged to offer you better service and smooth client interface, there are some overhead costs like the transaction fee and batching cost. This however differs from one service provider to another and must be carefully noted before finalizing the one.
Some tips that might help:
- Be sure what type of account you want this depends on what extra products and services are you planning to add to your ecommerce cart soon.
- The decision very much depends on the type of company you own, that is private, sole ownership, partnership and more.
- Try giving VAT number that is standard for your area of functioning.
- For non-country applicants, entering a SWIFT code seems essential.
So, we hope that the question that ‘how to open a payment gateway’, must have been answered to a major extent. All the best and wish you luck doing business