What do I need to know about financial institution licenses for Payment Service Providers?

For a payment company, PI or EMI authorization today means months of expectations. We talked to the customers of eComCharge (white Label Payment Gateway tenants) who have already received European licenses, and who also await obtaining one in other jurisdictions, and here is a review for those who just thought about it. Naturally, it is not a very detailed one, as authorization requires a lawyer.

The most popular types of payment licenses in Europe

To date, European payment companies covet one of the two authorization types relating to the Financial Institution and issued under the PSD2 regulation: PI (Payment Institution) and EMI (Electronic Money Institution).

Anti fraud management system and tools for the white label payment gateway beGateway

The importance of anti fraud management system and fraud protection tools to protect online sellers from fraudulent payments in e-Commerce is huge. Unlike traditional trade, the Internet merchant accepting payments over the Internet can only hope that the person on the other side of the monitor is indeed the owner of the bank card and a conscientious buyer.

The payment data that the buyer enters on the payment page of the online store or mobile application is easy to steal, copy and use. To protect against fraudulent transactions, white label payment gateway beGateway offers its tenants three integrated fraud protection tools. Moreover, we also offer a possibility to connect any third-party instrument at the request of the payment service provider.

How long does it take to install, configure, and launch the white label payment gateway for the payment service provider? How to accelerate it.

To handle online payments for merchants, modern processing companies need a modern payment gateway with a satisfactory set of functionalities. It can either be developed independently, which means hiring a team of developers, investing a couple of thousands of hundreds of euros and spending at least one year on the simplest version development. You can also buy a ready-made processing system. Or, rent a white label payment gateway with technical support and subsequent purchasing of the code, which is the least costly and sometimes the most advantageous solution for most payment companies.

If you opt for renting or buying a ready-made payment gateway as a White Label Solution, let’s talk about the launch time of its commercial operation.

How to start a payment processing company? Part 4. Administrative and organizational matters

Providing services for online payment acceptance is a serious and responsible business. And it should be treated accordingly.

No matter what business model you choose, you are always financially liable to your acquiring partners for merchants transactions processed by your payment company.

White label payment gateway solution. Receiving Internet payments for a traditional retailer. Not a traditional approach.

Why does a traditional retailer need a white label payment gateway solution? Traditional trade has been experiencing increasing pressure from electronic trade competition for years. Simplicity and convenience of online shopping causes the fact that more and more goods which were previously purchased by an average buyer during an obligatory daily trip to a supermarket, are now bought via the Internet.

Traditional retailers, who have for decades felt secure and confident, now feel threatened by a new generation of Internet traders and certainly do not want to passively watch the latter bite off more and more from their pie.

Processing 200 transactions per second and system uptime at 99.999%. Where can I get a payment gateway software for my payment business? Part 3.

In the two previous articles, we analyzed the business model of the payment business and payment tools that a company can offer their online merchants to accept. Today, let’s talk about the processing system (aka the processing platform, or payment gateway software) which is the technical core of the payment service provider.

This article will

How to start a payment processing company Part 2. What is the best business model?

How to start a payment processing company? There are two basic models of online payment acceptance services.

1. Under the first model, you deal with purely technical issues of Internet payments:

How to start a payment processing company. Part 1.

So you’ve decided to engage in the business of accepting online payments (to start a payment processing company). The demand for online payment acceptance and processing is growing steadily worldwide. The market is expanding thanks to the constant flow of commercial, non-profit and government organizations selling their goods and services online. Thus the market creates enough space for successful and profitable activity, not only for major payment processing companies, but also for beginners. It is especially true for emerging markets, while they are not yet occupied by major payment service providers.

While the motivation to create a payment service is no problem, there may appear quite a few questions on where to actually start a business of online payment acceptance and processing.

Transaction types when dealing with bank payment cards in beGateway

Today we will continue talking about the possibilities of beGateway, the White Label payment platform for Internet payments accepting and processing created by eComCharge company. Let’s look at the transaction types and the opportunities that a payment service provider, given their processing system is based on beGateway, can offer their Internet merchants in terms of accepting payments by bank cards.

Why bank cards? Firstly, because it is the most popular means of payment in online stores.

How to reduce costs for payment processing system software developing?

Any company strives to increase their profits. This is the rule of business. Payment service providers are no exception and constantly think how to reduce costs effectively for payment processing system software developing and support.

However, the payment acceptance and processing industry has its own peculiarities.