Requirements for a Merchant Account

A merchant account allows a business to accept credit cards, debit cards, gift cards and other forms of payment cards. This is also widely known as payment processing or credit card processing.

The merchant account can be typically established based on several factors, restrictions and requirements:

BUSINESS MUST NOT BE ON THE PROHIBITED BUSINESSES LIST:

  • Adoption agency
  • Aggregation services
  • Animals and live stocks
  • Annual memberships
  • Cigars/tobacco
  • Debt consolidation, low interest credit card products and credit card protection
  • Financial serves such as government monetary grants or other “get rich quick” schemes
  • Network or multi-level marketing, including pyramid schemes
  • Outbound telemarketing
  • Ponzi Schemes
  • Products infringing on intellectual property/trademark rights
  • Sites promoting hate, racism or any form of discrimination
  • Timeshares
  • Weight-loss products

EU REGISTERED COMPANIES CHECK LIST

1. You must have a business Bank Account
2. Live website, this should include:

  • English version, if website is in any other language
  • Terms & Conditions
  • Privacy Policy
  • Refund Policy
  • List of products, prices and currencies
  • Shopping Cart
  • Description of shipping method (if applicable)
  • Your customer service contact details

3. For existing merchants 4-6 months processing history
4. Minimum monthly volume of EUR 10,000

NON EU REGISTERED COMPANIES CHECK LIST

1. You must have a business Bank Account in the country of incorporation
2. Live website, this should include:

  • English version, if website is in any other language
  • Terms & Conditions
  • Privacy Policy
  • Refund Policy
  • List of products, prices and currencies
  • Shopping Cart
  • Description of shipping method (if applicable)
  • Your customer service contact details

3. For existing merchants 6 months processing history
4. Minimum monthly volume of US Dollar  50,000

Please note, that additional requirements may be needed when deemed necessary, including a background and credit check.

Start up business may be accepted, however this will be reviewed on a case by case basis and will be dependent on the business activity and the expected monthly volume.

If we are unable to assist you with merchant services due to the country that your company is registered in, we can offer a package of company incorporation, bank account and merchant account in order to help your business grow. Please contact us for further details.

Our merchant services fee ranges from EUR750 to EUR1500. This will be dependent on the complicity of the application and the company business activity. Once pre approval has been received a deposit of EUR500 is required.