We invite you to consider the opportunity to open a merchant account (a processing account) with a Singaporean-based payment system where you can accept payments from all over the world made by hundreds of different methods. Make it easy for your clients to pay you and your profits will increase.
The payment system that we are promoting here allows accepting payments from more than 170 countries in more than 200 currencies. The system supports payments made by more than 300 methods – from VISA and MasterCard to Skrill, Alipay, prepaid cards, and so on.
Opportunities that the merchant account offers
By opening a merchant account with the payment system, you will be able to perform the following operations:
- Accept payments to your merchant account from most countries of the world.
- Gain access to multicurrency processing operations (more than 200 currencies).
- Accept payments via international and local payment systems (cards, internet banks, electronic wallets, etc.).
- Customize your merchant account by activating the payment methods that you need (out of 300+ available methods).
- Accept payments from various cards via local banks without exchanging currencies.
- Transfer money to your bank account (SEPA, SWIFT) and/ or card; pay salaries to your employees, commissions to your partners, and so on.
- Monitor the money flows with the help of detailed statistics.
The Payment Service Provider (PSP) promises fast client identification. It will cooperate with companies from all countries with the exception of sanctioned countries. The PSP is integrated with all major economic commerce systems via API and plugins.
Please note that the account can be added only to a website. Mobile applications and other products are not currently supported.
The payment system will open ONLY merchant accounts for its clients. If you would like to set up a full-fledged bank account in a foreign country, you are welcome to request our professional support in the matter. Please supply your email address below and we will get back to you shortly.
Who is eligible to open a merchant account with the payment system?
The Singaporean Payment Service Provider will cooperate with clients from various countries. Corporate clients are divided into several groups depending on the level of risk that their operations involve:
Low-risk companies registered in Singapore. Such a company can work fully online or order a VISA/ MasterCard payment terminal. Any low-risk business is acceptable: trade in physical or digital products, services, production, and so on.
Low-risk companies registered in other countries. Prospective clients have to go through due diligence procedures. Your website and your business model will have to be preapproved. Your company should preferably have experience with payment processing and a client pool. The higher traffic and the larger client pool you have, the better your chances of setting up a merchant account will be.
Software and gaming products. The PSP has vast experience in servicing clients engaged in these business areas: online videogames, products for gamers, digital goods, etc. A preliminary consultation is required.
High-risk business companies: bets, gambling, etc. (a license needs to be supplied); FOREX trade (only companies with European licenses can acquire services). It is possible to set up a merchant account even if you are engaged in dating or adult business but the PSP Compliance Department will have to approve your application for services.
The PSP will provide services only to active companies with well-established business models that are going to have good turnovers beginning the first day of cooperation. Newly established companies can come onboard only if they are registered in Singapore.
You have to supply the following information to be able to set up a merchant account with the Singaporean PSP:
- Your company website address;
- Country of your company registration;
- Company registration number;
- Tax number;
- Registration address;
- Company registration certificate;
- Company directors’ personal information:
- Names, citizenship, and addresses;
- Proof of addresses (outside the sanctioned countries);
- Additional documents (such as licenses, for example).
The payment system reserves the right to request other documents that it is going to verify before opening a merchant account for you.
Who is not eligible to apply for services to the Singaporean PSP?
The payment system will not cooperate with the following groups of clients:
- High-risk startups whatever business area they work in;
- Companies whose websites carry icons of radical organizations;
- Subscription websites;
- Websites on Shopify and Magenta (for technical reasons);
- Companies from sanctioned countries: Russia, Belarus, Syria, North Korea, Iran, Iraq and some other countries and territories.
Citizens of sanctioned countries can be company UBOs/ directors if the company is registered in a non-sanctioned country. Proof of address in a non-sanctioned country has to be provided.
Business areas that PSP’s clients cannot be engaged in:
- Tobacco, alcohol, and electronic cigarettes;
- Deep fakes;
- Replicas of famous brands;
- Esoteric consultations;
- Health industry;
- Internet television;
- Video hosting;
- Armor and ammunition;
- Some other business areas.
How you can open a merchant account and gain access to more than 300 payment methods
- Write to our email or use the popup chat box to send us a message.
- Cover the cost of setting up a merchant account with the Singaporean PSP — 2999 EUR.
- Supply the required information and application documents.
- The PSP will access your application for services and make a decision.
- If the decision is positive, you can start using your merchant account immediately and accept payments from all around the globe.