Global payment gateway: what is it?

What is a global payment gateway?

This term can be a little bit confusing for those who do not have a deep understanding of payment gateways. As it is clear from its name, a global payment gateway is a high-risk payment gateway that is used to get online payments from the entire world. It is with an international merchant account or offshore merchant account where the entire business came from outside of a specific country’s boundaries. In simple words, it is basically a high-risk payment gateway for offshore payments.

Important features that a global payment gateway must have

The feature of an international payment gateway must be according to the requirements of the offshore business needs or expectations from a payment gateway. Some of the most desirable features of an international payment gateway are

Being Multilingual

This feature is not just a feature; it is a necessity for an international payment gateway, because if a payment gateway is operating around the globe, then it is quite obvious that working in a single language is impossible. For global users, the convenience of a multilingual platform is very important.

Accepting different currencies and payment methods

On earth, there are hundreds of countries, and almost every one has its own currency, but some currencies have more significance in the financial world, like the USD, Euro, Pound, Yen, etc. Thinking of this, many gateway providers just accept the major currencies of the financial world, but the customers, the local majority of a country, use their national currency for making payments, and if a business asks its customers to first change their local currency to a major currency and then pay, it is definite that customer will never come back to the merchant. This is the reason why a global payment gateway must accept the currencies of various nations. The exact same situation exists with the acceptance of various payment methods. If a buyer or customer does not find their preferred method to pay, then most probably he will not buy the product or service.

Have a large banking network

Having a large bank network as a payment gateway is like having an insurance policy or backup plan. Because if a bank is unable to transfer the funds due to any circumstances, there are many banks that can act as backups, and anyone from them can continue the procedure until the completion of the transaction. It is very important for preventing delayed payments.

Tools for fraud prevention

Online payments and credit card transactions are both very fraud-prone. One can easily commit fraud by getting the pin of anyone’s UPI wallet. So having fraud prevention tools like device ID, geolocation, fraud score checker, and CVV checker are mandatory for a global payment gateway.

Preventing chargebacks

A high chargeback ratio is a big problem with a high-risk merchant account/international merchant account. So it is important for a payment gateway to prevent chargebacks on a merchant account because they can have bad consequences for the merchant account.

Unbreachable Security

For a payment, gateway security is the most sensitive and important part. For a global payment gateway, encryption of sensitive data is very important, and for this, a payment gateway must have point-to-point encryption. Domain security is a must-have tool for a payment gateway for the authentication of a payment. A payment gateway must have tokenization to hide sensitive data. A data security payment gateway must have SSL certification and PCI DSS certification as proof of handling sensitive payment card data.

Businesses that need a global payment gateway

Usually, businesses with global customers need a global payment gateway; these all fall under the category of high risk and have customers all around the world.

Chat sites
Adult Industry
Coins and collectibles
Crypto or forex trading
Dating
Skin and hair care
Subscription boxes
Tour operators
Travel and vacation services
Vapes & cigarettes
Vitamins and Supplements
Web Design and SEO
Weapons (of any kind)
Debt collection
Event tickets
Fantasy sports
Financial planning and advisory
Health and beauty
High ticket coaching
Import-export business
Magazine sales and subscriptions
Membership organizations
Airlines and bookings
Business Consulting
Casinos and gambling
Nutraceuticals
Offshore business
Online gaming
Pawn shops
SEO/SEM services

These all businesses are capable of operating totally offshore, which is why they all need an international merchant account to accept online payments worldwide.

Benefits of a global payment gateway

The global payment gateway provides a chance for those businesses to grow, who have a great market for them outside of their own country.
An international payment gateway accepts any currency and any method of payment, and because of this feature, businesses can easily target a particular area or market.
Because this payment gateway accepts every major card, it removes those factors like delayed payment, stuck payment, or payment decline from a transaction.
It is a multi-lingual platform, which makes it a user-friendly portal that new users can easily operate. Due to this, a business can easily gain the trust of foreign customers.

Pros of choosing webpays as a global payment gateway provider

There are many pros to choosing webpays as a payment gateway provider for your high-risk merchant account. First of all, you will get a reliable and affordable payment gateway for your high-risk merchant account. Second, you will get many additional features like an easy integration process, protection against chargebacks, etc. For the seamless operation of your business. Along with these, you will get top-class security functions such as tokenization, point-to-point encryption, 3D secure payments, and some tools like a CVV checker and fraud score checker for the prevention of potential fraud.

If you are searching for a global payment gateway for your overseas business payments, then you are just a click away from it. Click here

For detailed information about our offerings, you can contact us via mail.
info@webpays.com

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