It is an undeniable fact that to achieve the full financial and marketing potential of operating on the Net, Internet Traders need a reliable Merchant Account which because of the tightening of their criteria by the major banks following the events in the United States on the 11th September 2001, such Accounts have become increasingly difficult to secure.
The situation has become even more difficult since April 2002 because two of the major credit card companies have imposed conditions (particularly in relation to Master Accounts) which very few of the smaller Processors can meet.

However, there are still Processors that offer Merchant Accounts with only minimal due diligence but these are usually based in Countries that do not have strict banking laws or are subject to a Governing Body. It is not unusual for some of these Processors to "disappear" from the Net with the resultant financial loss to the Merchant.

With the object of being able to offer Merchants the best and most reliable processing service available, we conducted an extensive survey and we feel that the Processors, of which we give details below, can be safely recommended.

1) SWEDISH / DUTCH / FRENCH.
Setup fee: €2,000

These Processors have offices in Paris, Stockholm and Amsterdam. Their Management Team is very impressive; the Chairman of the Board is a former Sales and Marketing Director of the Coca-Cola Company in Scandinavia and the Vice-President was the former Managing Director of the same Company.

Amongst their key customers are: Soreco (the leading debt collection company in France), Fromages.com (the internationally known French Cheese Manufacturer who sells Worldwide via their Web-Site) and Ligeris (the booking centre for more than 100 Hotels in the Loire Valley region of France)

Whereas, most processors deal with only one or two acquiring banks, these Processors deal with sixty financial institutions Worldwide. The bargaining power that these Processors have toward these institutions, due to the aggregated large amount of transactions that they process, minimises the fees that would otherwise be paid by the Merchants. Consequently, the processing rates are very competitive as will be seen from the scale given below:

1. Existing businesses with a yearly volume of Euro.3.Million / non high risk and with good C.B statistics = 4.25%
2. One of the above lacking = 4.75%
3. Two of the above lacking = 5.25%
4. Three of the above lacking (provided a sound business plan is supplied) = 5.25%
 

The rolling reserve is the standard 10% for 180 days and settlement is made to the Merchant on a negotiated basis.

Any type of business is considered.

2) U.K. PROCESSORS
No setup fee, NO rolling reserve!

These Processors are based in London and are subsidiaries of a very large international financial services company. They have several acquiring banks including: NatWest (via Streamline which is owned by NatWest and the Royal Bank of Scotland and which has 65% of credit card processing in the U.K)

They will consider all businesses (whatever their nature) and with mainstream businesses, there is no rolling reserve. For lottery etc., the rolling reserve is the standard 180 days. The rate across the board is 4.25%. One of the advantages of dealing with these Processors (because of their association with Streamline) is that Switch and Delta cards can be processed. Although an account is available for Merchants Worldwide, these Processors should be of particular interest to the U.K based Merchant whose trade is outside the mainstream and who will know just how difficult it is to open a Merchant Account with U.K Processors, especially ones who have the facilities and support of, arguably, the largest Banking Group in the U.K.

At the present time these Processors only deal in £'s Sterling and account to a U.K bank. This should not present a problem to the U.K Merchant but we appreciate that it could be one for the offshore Traders. It costs nothing to apply for an account and we suggest that, via ourselves, an offshore Trader make an application and that if he is satisfied with the terms offered (these Processors are quite flexible) then we shall be pleased to arrange an account with a U.K bank for him. Since there are no Exchange Control Regulations in the U.K, funds can, of course, be subsequently transferred to any bank Worldwide.

 

3) SWISS BASED.

These Processors will accept mainstream and gaming and their rate varies between: 2.9% to 6.50%. The rolling reserve is 5% for 150 days.

4) CANADIAN BASED

These Processors will accept mainstream and gaming and their rate varies between: 2.75% to 4%. The rolling reserve is 5% for 180 days.

As is to be expected, all the above Processors require proper due diligence from Applicants but their requirements are not unreasonable or too intrusive and they should not present a problem to a genuine Trader whether or not he has an established business.

Interested Merchants should contact us in the first instance with the following information which can be sent by email.
 

1. Nature of business,
2. Location of business.
3. Actual or anticipated monthly volume
4. If you are currently processing.
5. Contact name,
6. E-mail address.

We also specialise in other offshore services including: banking and company formations. Please see the relevant pages on this Site for further details.

We shall be pleased to give guidance and advice without fee or obligation