EU Merchant Account

What time of day do the on-line shoppers in Germany prefer to convert a shopping basket to a sale? Do shoppers in the Netherlands prefer paying by credit card or e-wallets? Are the people in Belgium happy to pay for goods in pounds or do they want to use Euros?

For the UK-based e-retailer to succeed in Europe, they must remain abreast of new trends, European regulatory changes, and local preferences and customs. With the UK's withdrawal from the EU, it is beneficial for the e-retailer based in the UK to look to opening an EU Merchant Account based on the mainland of Europe.

For merchants based in the EU, holding a direct EU Merchant Account with your own Merchant Identification Number (MID) Gateway brings a host of benefits to the savvy on-line retailer.

This can be coupled with functionality such as Server2Server API calls, making the speed of processing your transactions lightning-fast, and adding a layer of security for your payment transactions.

Another feature is the provision of Virtual Terminals. This software application allows the on-line merchant to accept credit card payments without the card being physically present, the so-called card not present transaction.

Having an EU Merchant Account gives the e-retailer access to all the European Banks. It opens the possibility of accepting payments in a myriad of different currencies, and from any modern platform. Shopping from mobile devices is extremely popular, and payments from these devices should be an essential part of your collection strategy.

In addition to accepted, modern payment methods, understand that there are European nations that may have unique 'in-country' payment methodologies, so make sure that the service provider that you work with has an in-depth knowledge of the European landscape and can provide for these unusual payment methods.

When looking into an EU Merchant Account, make sure that the account you select allows for MOTO transactions. Just because a customer chooses not to use the internet should not preclude you from using your European Bank for that customer. MOTO, or Mail Order / Telephone Order, is an order placed outside of the electronic world. This is common from many rural areas or areas not easily serviced by electronic networks.

Another feature that should be supported by your EU Merchant Account is Recurring Billing. This service provides your customers with a means of regularly paying for services rendered until the end of the stated period or until the customer cancels the payment. This is a feature used by any subscription service.

EU Merchant Accounts can also be a boon to those high-risk industries that may struggle to open a merchant account with a bank in their own country.

Make sure that your payment gateway provides strong security so you can safeguard both your customers and yourself. Insist on a rigorous, safe, compliant environment for collecting payments