Foreign exchange, or forex, is a network of buyers and sellers who exchange currencies at a pre-fixed price. It includes individuals, businesses, central banks and other financial institutions to take active role in converting one currency into another.
Foreign Exchange Rates, also known as Forex Rates, are an important part of the global economy and also play a role in the travel and tourist industry.It aids in determining a country’s economic significance and the health of its people. It is incredibly significant and critical for domestic and international businesses, imports and exports, travelers, tourists, immigrants, investors, and banks.
Since forex platforms are indulged in a lot of trading activity, they have to process a lot of transactions every day, which drives up their chargeback rates.
As a result, payment processors have classified forex service providers as high-risk enterprises, which mean that traders’ applications would most likely be refused for traditional gateway solutions.
Forex merchants can also open a merchant account with a dedicated high-risk payment gateway provider. However, these services frequently take advantage from these merchants demanding excessive fees and keeping consumer funds for long period of time.
EskayPay empowers the online merchant looking for payment gateway solutions. We offer cost-effective payment services to new-startup, small businesses or to businesses that falls under a high-risk business. We provide Forex Payment Gateway services to Forex merchants in UK that helps the high-risk/ low-risk businesses to succeed and expand their global presence.
What are the key features that need to keep in mind while choosing the best payment gateway services?
When selecting a forex payment gateway, there are a few things to keep in mind. A payment gateway must meet certain conditions in order for a forex business to be successful. These are some of them:
- Chargeback Security: Due to the high risk of chargeback in forex trading, a payment gateway must be able to safeguard businesses from disappointed customers or fraudulent operators by providing chargeback protection.
- Strong security: It’s essential to follow the most rigorous anti-fraud and anti-money laundering security standards, such as PCI compliance. This ensures that traders’ funds and information are secure.
- No payment Delays and low fees: Forex brokers must be able to make instant transfers. Since trades are time-sensitive, a payment gateway must be able to provide extremely quick transfers at a reasonable cost. If it cannot, traders will not likely to work with you.
- Diverse payment options: Since forex trading is international business, a payment gateway must be able to accept a wide range of payment methods. Credit and debit cards, as well as alternative payment methods such as digital wallets, different currencies, and other options, must be included.
- Abide by the regulations: Payment gateways must follow to strict guideline or regulations when it comes to forex trades. A payment gateway may not be able to properly work with forex merchants if it does not comply with regulatory requirements. Different nations pose different regulations for forex traders; hence finding a service provider that adheres to standard regulations is essential.
Merchants must consider these criteria while selecting an FX payment gateway. A good payment gateway needs to serve the dynamic nature of forex trading by providing fast and efficient payment transactions. It must also be capable of providing the highest level of security while adhering to all local regulatory regulations.
Why choose us?
Why you choose EskayPay as your payment service provider. Here are some of the key benefits that you can take from us:-
- Secure merchant account which supports all modes of payments
- Online payment processing with advanced technology
- Very secure and certified by PCI DSS
- API & Virtual Terminal facility for the merchants
- Extremely simple integration
- Intuitive interface and high usability
- Multi-currency support
- Improved customer acquisition and retention
- Seamless credit card processing
- Tech-savvy merchant account
- Accepting payments via UPI, e-wallets, Crypto-currency
- All-around growth assistance
- Quicker service approval
If you’re a Forex merchant who’s been turned down by banks due to a high number of charge-backs, or bad credit. You require a Forex Merchant Account Provider for enabling you to have smooth and flexible payment transactions. Any transaction that is not properly secured is prone to theft, which will harm your company’s reputation. EskayPay makes it simple to open a merchant account. As we work to earn our consumers’ long-term trust.
High Risk Merchant Accounts 