Why are KYC and KYB important to the banking sector?
Paypound explains in detail how banking firms are using KYC and KYB to safeguard their consumers from scams such as identity theft on a larger scale with KYB. To learn more, visit the blog.
What Are Chargebacks and How Do They Impact Your Business?
Online business owners have a significant threat to look forward to— chargebacks. Most high-risk merchants are unaware of chargebacks and their effects until they are struck with them, which makes them more susceptible to having a hindrance in the growth of their business. No business likes disputing with customers; but these days, friendly fraud, bad customer service, and similar issues […]
Importance of referral partnerships in Payments Industry
With the emergence of new technology, the payment space always progresses, and the demand for fast and convenient electronic payment options continues to increase. With so many changes that are taking place quickly, the businesses with a particular interest to help customers meet their payment-related needs find it challenging to keep up with the latest trends. In today’s highly competitive […]
Documents Required To Open A Merchant Account
How to open a merchant account and a list of the key documents involved are provided in further detail here.
MANDATORY WEBSITE REQUIREMENTS TO OBTAIN A MERCHANT ACCOUNT
We offer information about website opening, needs, and the documentation required to obtain a website on this blog. for opening a merchant account, paypound.
WHAT IS A MERCHANT ACCOUNT ?
What is a Merchant Account? First, let’s clarify what a merchant is. A merchant is a businessperson who trades products/services. In payment processing, a merchant is a legal entity that opts to accept payments online. A merchant account is a type of bank account used for storing funds from card transactions until those transactions are settled completely. Thereafter, the funds are transferred to […]
WHAT IS A PAYMENT FACILITATOR (PAYFAC)?
Having a secure way to accept payments is a necessity for any online business. And when it comes to taking credit card payments, you have two main options. The option to do is to open a merchant account with a bank and the second is to use the payment facilitator model (PayFac). Technology has fundamentally changed how businesses, acquiring banks, […]
The important of AI in merchant account payment gateways in High Risk Industries
Artificial Intelligence (AI) is no longer the future, but it’s already the present. For eg: AI is the technology that powers the verbal commands you give Siri. It operates driverless cars and can beat you in online games. It may sound intrusive, or even creepy, but companies are investing in AI to learn your behaviors – and monetize those behaviors. Picture customers […]
The Importance of Compliance in Payment Processing
There’s always a certain level when you’re running a business. That’s just the name of the game. But when you accept credit card payments from your customers, you’re assuming quite a bit more. Now, you run the risk of fraudulent charges, returns, cancellations, identity theft, disputes, etc. That’s why it’s crucial to meet the current standards and regulations for PCI […]
What is a High-Risk Merchant Account?
If you run an online business with a higher risk of chargebacks and want to process credit card transactions, you need a high-risk merchant account. But what is a high-risk merchant account and how do you know you need one? Many traits define a high-risk merchant. The landscape of high-risk e-commerce is ever-changing and ever-evolving. With more than 15 years […]
