Eternity Law International — Payment & E-Money Institutions — Licenses of payment systems

Licenses of payment systems

Published:
February 13, 2020

PAYMENT SYSTEM LICENSES. PROCESSING.

The issue of payment system licenses is quite relevant today.

The processing center is a multifunctional and automated system designed for data processing. It is used by payment services when making payments. However, for this you need to pre-issue licenses for processing cards.

What is the reason for the need for processing

Functional processing center allows you to significantly increase revenue. In addition, it provides an opportunity:

  • accept for further payment payment cards issued by both domestic and foreign banks;
  • your customers will be able to receive payment cards issued by partner banks, which will significantly increase customer loyalty and trust in you;
  • use a wider range of currencies;
  • receive the lowest commissions in payment services.

BASIC REQUIREMENTS FOR THE PROCESSING

Each virtual payment system has its own nuances and features. For this reason, the requirements for processing centers that process payment data also differ.

A processing center can cause significant growth in your company. Thanks to the appropriate license, you can open other sales channels and use sales tools that are effective.

FEATURES OF PAYMENT PERFORMANCE THROUGH INTERNET-ACQUIRING

CLIENTS

Make an order online, choosing the option of payment using a bank card.

ONLINE STORE

Paying with the client, it redirects to the resource of the processing center, which is characterized by a high degree of protection and maximum security.

PROCESSING CENTER

On this resource, the owner enters the card data that will be required to go through the verification procedure. Next, a check is made of the correctness of the request, which is subsequently transferred to the acquirer bank for subsequent processing.

BANK ACQUIER

After receiving a request from the processing center, it is redirected to the payment system for processing.

PAYMENT SYSTEM

The received request is sent for further authorization to the issuing bank.

BANK

After a request for processing has been received, the state of the account is checked for availability of funds available for processing this request.

After that, the result of the procedure is sent back to the processing, and then to the store. This operation, despite, at first glance, a complex procedure, is performed in just a couple of seconds. As a result, the user is presented with the result of the verification.

ONLINE CASH OFFERS

Today, there is an impressive number of various services on the Internet, thanks to which you can convert and withdraw electronic funds online.

We are talking about online booking offices. The employees of our company have extensive practical experience, so they will offer you competent assistance.

Today it is unlikely that anyone will be able to surprise anyone with electronic currency. Such money is increasingly found in our lives. The number of electronic payments made is increasing daily.

It is possible that soon the familiar currency for most will be replaced by more powerful financial instruments.

Often, users need to use several currencies, which is not convenient, because you will need to spend additional time working with various payment systems.

In such situations, virtual cash desks are especially relevant, as they make it possible to accept payments from partners in different electronic currencies, and ensuring conversion in the shortest possible time.

They are suitable not only for operations with virtual funds, but also with real ones. Virtual cash desks provide the opportunity for online stores to accept payments from around the world.

FEATURES OF CONNECTING VIRTUAL PAYMENT SYSTEM

It is not in vain that online payments are more popular with consumers than bank payments that have long been familiar.

Such payment systems are affordable, allowing users to remotely open virtual accounts, completely regardless of their location.

For this reason, many entrepreneurs want to become owners of a license for payment systems, because this is the key to obtaining a wide audience of customers.

To get access to your e-wallets, you just need a smartphone or personal computer and the Internet.

Therefore, it can be argued that electronic payments are convenient. Also, such payments are fully secure, since a multi-level authorization system is used, which is a guarantee of reliability. The transfer of any information is carried out using encryption.

Online payment services are simple and easy to use. They are absolutely adapted for users who do not have experience with them. The interface is as simple as possible.

Thanks to this, there will be no difficulties in gaining access to services. This is a good reason to apply for a payment system license.

But still, the main positive aspect of online payments is the high speed of operations. Money transfers are carried out at any time of the day, when it will be convenient for customers.

Today, there are a large number of world-famous systems that, thanks to this license, have managed to significantly increase their revenues and improve their reputation.

Modern technologies do not stand still and are constantly evolving. Only those companies that keep up with the times are capable of generating impressive revenues.

Our company is based on experience with this sphere and Eternity Law International specialists will be happy to рrovide you with assistance in resolving this issue.

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