Open an account with a British electronic payment system: a personal one – from 1,999 EUR or a corporate one – from 2,999 EUR
Having an account with a Payment Service Provider (PSP) is a healthy alternative to having an account with a traditional bank. With a PSP account, you can make all sorts of payments without leaving your desk. We invite you to consider setting up an account with a reputable fintech platform that works under the license of the UK financial regulator (FCA) and holds a PCI DSS certificate.
Nowadays most people living in well-developed countries make payments via the Internet on a regular basis. It is extremely convenient indeed: you do not have to count cash, nor make out cheques, nor fill out various bank forms. You can make the payment from your home or office at any time of the day if your electricity line and Internet connection are functional. All you have to do is make a couple of clicks and your payment will go through.
Main advantages that this PSP has
We are positive that the vast majority of you, dear readers, have purchased goods and paid for services by use of a payment system such as PayPal, for instance, or via your Internet banking application. This is what everybody does in the modern world, is it not? Thus, paying on the Internet is nothing new for you in all likelihood. However, the PSP that we are bringing for your consideration offers the range and quality of services that none of its competitors does.
Even though this PSP is not a bank, it holds an e-money issuer license from the British Government, which makes it authorized to provide banking services such as holding personal and business accounts, processing online payments, business financing, and so on.
Let us see how this PSP stands against the traditional banks first, and then we will compare it to other payment service providers.
- You can open an account with them remotely, while most banks require seeing you in person if you want to set up an account there.
- Account opening takes one to two days with this PSP. You usually need one to two months to open an account with a traditional bank.
- They are not a depositary institution. They keep their clients’ money in various financial establishments in different parts of the world. This practice provides for sufficient asset diversification, which, in turn, guarantees security of your capital.
- They do not use their clients’ money to give out loans.
- Their level of bureaucracy compares favorably to that of the banks. They respond to the clients in a timely fashion and their legal and compliance departments are very efficient.
- They work with cryptocurrencies unlike most traditional banks.
- British payment service providers do not have to comply with the CRS (Common Reporting Standards), thus their clients’ financial information remains fully confidential.
Now let us see where this British PSP beats its direct competitors – other payment systems.
- All other PSP’s will have fixed limits while this provider exercises an individual approach to every client. It does set limits but those depend on the types of the client’s business activities and the clarity of the supporting documents that the client supplies.
- Every clients receives an IBAN with this PSP (for accounts in EUR and GBP), which allows doing legal business in the EU countries and Great Britain. Most other payment systems do not provide IBANs to their clients.
- A personal manager is assigned to every client of this PSP. Your personal manager will assist you with all financial matters including making all kinds of payments. No faceless chat bot is in operation with this PSP.
Besides, keeping money with the PSP that we are presenting here is perfectly safe. It works with such reliable payment systems as VISA and MasterCard, and it is also a member of SWIFT and a SEPA scheme participant. This means that you can keep using you credit or debit cards if you join this PSP and you can also continue with the financial information transfer media that you are accustomed to.
Personal accounts with the British PSP
Both residents and non-residents of Great Britain can open a personal account with this PSP in euros, US dollars, GB pounds, and 31 more world currencies. They can use these accounts to make and receive payments.
In addition to current accounts, you can also open escrow accounts with this payment system.
A personal account can be opened remotely. All you need to have to transfer money anywhere in the world is Internet connection.
Account holders of the British PSP acquire the following opportunities:
- To make and receive international payments in 34 currencies;
- To obtain instant access to the account information, account abstracts and statements, and payment history importable to a .pdf file;
- To secure the personal data: the PSP client can use Google Authenticator, e-mail, or SMS for identification;
- To use a friendly interface.
Current account with the British PSP
When opening a personal current account with this payment system, you will obtain an IBAN that you will keep for the period of the service provision. You can find your IBAN in your personal online cabinet. There you will also find all other account information necessary for making or receiving international payments including SEPA and SWIFT inscriptions.
Escrow accounts with the British PSP
An escrow account is a financial instrument that serves as a guarantee that all the parties in a business deal will fulfil their obligations.
An escrow account will come in handy in the following situations:
- When you are buying or selling any kind of real estate;
- When you are making a trade deal;
- When you are buying or selling bonds, stocks, or other securities.
Escrow account specifications:
- It is a multi-currency account;
- It can remain active from 1 to 24 months;
- There are no limits as to the amount of money held in this account.
Additional services that the PSP provides
The list of services that the British PSP provides also includes the following ones:
- Multicurrency payments;
- Currency conversion;
- Possibility of having recurring payments;
- Payment information import from other databases;
- Remote account opening within one working day.
A few more options are already available or otherwise will become available in the nearest future:
- Pay cards, both plastic and virtual;
- Mobile application that can be used to make transfers, pay bills, etc. using your mobile phone;
- Contactless payments;
- Direct transfers to pay cards;
- Alternative payment methods support.
It make good sense to set up a personal account with this PSP if:
- You work with multiple currencies;
- Your business deals need to remain confidential;
- You do not want the whole world to know your balance;
- You need a fast and reliable access to an international payment system.
The British PSP described here provides for 24/7 client support and practices individual approach to every account holder.
Corporate accounts with the British PSP
Legal entities are also welcome to set up accounts for their companies with this PSP. They will receive access to their accounts from their computers, notebooks, tablets, smartphones, and other devices via the Internet.
The following services are offered to corporate clients:
- Money transfers in 34 currencies;
- Internet acquiring;
- Escrow accounts;
- Marketing services and IT developments such as web-design, site development, site promotion, site security audit, etc.;
- Cryptocurrency services such as opening a cryptocurrency account, processing, purchase and sale of cryptocurrencies.
The following aspects make establishing a corporate account with the British PSP especially attractive:
- 34 currencies to make payments;
- All transactions and account management are performed remotely;
- The information about the balances and transactions is securely protected from fiscal authorities;
- Multilingual client support;
- A wide spectrum of financial services;
- Lack of bureaucracy typical of traditional banks: establishing a corporate account takes no more than one week;
- High level of security: the PSP works under a license from the British financial regulator (FCA);
- It is a UK electronic payment system with all the beneficial legal consequences that follow.
Merchant accounts with the British PSP
Joining this PSP will be especially beneficial to you if you run an online store or simply want to make and receive payments via the Internet.
You can accept payments on your website, mobile application, or in your personal cabinet. Online payments are acceptable in 34 world currencies and their number is growing. You can improve conversion rates by use of additional payment features such as recurrent payments, one-click payments, payments to a bankcard, and electronic invoicing.
The payment page on your website is customizable and it can be optimized for any electronic device. You can set this page to multiple currencies and various national languages.
Payments through this PSP are as secure as they can be. The company holds PCI DSS level 1 certificate, which means that they provide the highest data security for money transactions. The PCI (Payment Card Industry) DSS (Data Security Standard) has been established by the Payment Card Industry Security Standards Council. This is a body created by Visa and MasterCard international payment systems. If a company has a PCI DSS certificate, it means that its processing Visa/ MasterCard payment data meets the highest security requirements.
In addition to that, this PSP employs the so-called ‘3D Secure’ customer identification technology (3D Secure is an abbreviation of ‘three-domain secure’). This system helps enhance the security of online payments for goods and services by use of Google Authenticator, e-mail, and SMS messages.
In your personal merchant cabinet, you can find real-time information and detailed statistics on all incoming and outgoing payments. With the help of an easy-to-use dashboard, you can also make refunds and transaction cancellations. Buyers will normally be refunded within two to four weeks should such need arise. No fee is usually charged for refunds and cancellations. Besides, you can integrate the PSP software with your accounting software.
Internet acquiring with the British PSP
The internet acquiring service will let you accept payment from any bankcard, which will increase the profitability of your online business, of course.
This service allows the following:
- Obtaining a personal cabinet with the sales statistics displayed;
- Customizing the payment page;
- Accessing 9 preset modules and API;
- Receiving payments in 34 currencies and choosing the interface language;
- Remote identification and access.
In order to make this online payment system work, the acquirer bank, the PSP, and the client have to integrate. This means that these three parties have to prepare and share the necessary documents, first of all. Then these documents have to go through the compliance departments and after that, the contract needs to be sighed. This process takes some time and its ultimate duration will depend on the number of documents, the intensity of communication, and the efficiency of the bank’s compliance department. Practice shows that integration usually takes around two weeks.
Electronic invoicing service
This service allows issuing invoices via e-mail and SMS and accept online payments. Legal entities engaged in manufacture of goods and provision of services as well as individual entrepreneurs engaged in arts, sports, education, etc. will be interested in acquiring this service.
A separate agreement for e-invoicing needs to be signed but this can be done remotely. After such agreement goes into effect, the PSP specialists will integrate the e-invoicing system with the overall platform that the client uses. Remotely.
Opening a merchant account with this PSP is quite simple. You have to register online by supplying your e-mail address and telephone number, then you have to complete the form that pops up right after the registration, and then send all the required documents to the address that is provided. The package of the documents to be submitted will depend upon the type, the structure, and the geographical location of your business.
You can receive payouts from you merchant account as often as you wish: every day, once a week, or once a month. The payouts can go to your account in any traditional bank or to your current account with the PSP.
There are payment limits but they are imposed individually and they depend on the company structure and business activity types as we as its risk profile.
The British PSP offers an attractive innovative financial product
Only recently, the company has launched a new product that many accountants and business owners have been dreaming of. Now they can make bulk payments in just two clicks.
Make hundreds of payment at a time with only two clicks
Finally, your dream has come true. Thanks to the PSP innovative product, you can upload a CSV file onto the platform and this will allow making hundreds of even thousands of payments within a couple of seconds.
The bulk payment service allows putting dozens of payment documents in one file and transferring funds to any place in the world instantly. You do not have to enter the account details and other information for multiple recipients for every payment you make any longer.
Who will find the bulk payment function especially handy?
Any business company that pays salaries to more than just a few employees should be interested in acquiring this service. With the CSV file, a single accounting document is created and all the staff receive their wages in an instant.
Of course, you can use this opportunity to make bulk payments of other kinds as well. You can make multiple payments to your suppliers, for example, or various service providers, or some internal payments that go within your company.
With the API integration opportunity that the PSP we are advertising here offers you can integrate any service whatsoever that has a current account number and that you intend to use in your business.
Implement automatic payment of salaries without delay!
The bulk payment service is an ideal solution for payment of salaries in a medium-size or a large company. This financial product allows the employer to instantly transfer funds to his or her employees’ bankcards regardless of their current location.
The bulk service has the following advantages:
- Confidentiality of the amounts transferred;
- Salary payment process simplification and the required time reduction;
- Company expenditures optimization;
- A possibility to make other types of payments to the employees’ cards such as bonuses, business travel allowances, administrative expenses, etc.
The cards that the British PSP uses for this service: MasterCard Business and Pay MasterCard
A bankcard is a payment instrument that the majority of contemporary adults have. It is very convenient to use for all sorts of incoming and outgoing payments.
The PSP we are promoting here offers two cards for use for the bulk payment project:
- MasterCard Business. This is a company card and it is linked to the corporate account. You can use it to pay salaries, bonuses, allowances, etc. to your employees.
- Pay MasterCard. This is a personal card for personal use of your staff. It is a contactless card with an elegant design. The commission for cashless payment with Pay MasterCard is 0%. The cash withdrawal commission is 2%, 2.5 EUR minimum per withdrawal.
If you set up a corporate account with the British PSP, personal accounts for your employees will be established free of charge.
The contactless pay cards will be available to the PSP account holders beginning November 2019 but you can pre-order the card right now with our assistance. We will also be happy to help you prepare all the documents required for personal or corporate account opening with this PSP. Depending on the quality of the documents provided, they will assign a risk profile to every client, which has direct bearing on the limits imposed on the account. We have been cooperating with this company since they started operations in 2015 and we know their preferences very well. The British PSP, in its turn, appreciates our cooperation very much as we always submit well-prepared applications on behalf of our clients. Please write to us to [email protected] and apply for opening an account with the most professional payment system that exists.