The Ultimate Guide to Selecting the Right International Payment Gateway Solution Provider in Singapore for High-Risk Businesses

Singapore is known as a global city. The reason for this is the country's overseas connectivity. Singapore is the second most suitable place for starting a business in the world. A significant number of buyers and merchants are involved in cross-border transactions in Singapore. In fact, one-third of the e-commerce sales in the country are from overseas websites. Given this fact, an international payment gateway solution provider becomes more significant from the perspective of a Singaporean merchant. If you are a merchant in Singapore looking for the right international payment gateway solution for your overseas business. This article might be the one you are looking for because, in this write-up, we are discussing the points that need to be considered when selecting the right international payment gateway for high-risk businesses.

What should a high-risk merchant consider in an international payment gateway solution?

A high-risk business has many problems with payment processing. A suitable payment gateway for a business is one that can provide solutions for those problems and make payment processing a cakewalk. An international payment gateway solution provider must provide these solutions to a high-risk merchant:

A large banking network

High-risk businesses need an international payment gateway that can provide an extensive banking network with major international banks for overseas transactions. Because high-risk businesses are frequently involved in international transactions. International payments take a little more time to process than domestic payments. A wide banking network with many acquirer banks can also help enhance payment processing speed. Because of the available options for backup acquirer banks to process the payments while troubleshooting with the main acquirer banks.

Multiple currency support

For high-risk businesses, an international payment gateway solution must provide multiple currency support. International payments need to be made in foreign currencies, and payments in foreign currencies can’t be processed before converting into domestic currency through currency conversion. Because of the currency conversion, a little bit of extra time is added to the payment processing, and it also incurs some charges. Therefore, an international payment gateway has to provide multiple currency support so that a merchant’s time and money can be saved by avoiding currency conversion.

Multi-lingual checkout page

A multi-lingual checkout page is also an important feature that an international payment gateway solution provider has to provide for high-risk merchants. Because high-risk businesses have a global customer base in various countries. Therefore, a checkout page with multiple languages becomes important because customers trust a business more when getting services in their own language than in any other language. This is why a multilingual checkout page has significance in gaining loyalty from foreign buyers.

Various alternative payment methods

Having an array of options as a payment method makes payment acceptance pretty easy for a merchant, especially for international customers. Because every country uses a preferred payment method for online transactions. After the era of digital wallets, providing various alternative payment methods has become more important for an international payment gateway solution provider. Because the majority of the customers use their local payment apps. Thus, it is important for an overseas payment gateway provider to provide every major payment method in the operational country or region. So that a merchant can accept payments without worrying about payment methods.

Chargeback protection

Usually, every high-risk business has a problem with high chargeback rates. The thing that makes it more serious from a merchant’s perspective is that the majority of the chargeback requests are fake. Therefore, a payment gateway provider must have any kind of fraud detection technology to provide protection against fake payback requests to a merchant.

Data protection and fraud prevention

Providing data protection and fraud prevention is a major priority for every international payment gateway solution provider. Because high-risk businesses are generally more fraud-prone and international transactions add extra risk for online fraud. This is why an overseas payment gateway has to comply with the highest payment card data security standards (PCI DSS) to safeguard the customer’s precious card information. To prevent any fraud attempt, a gateway must have AI fraud prevention tools to detect and eliminate any kind of fraudulent activity while paying.

3D secure payments

A payment gateway must provide 3-dimensional security for payments to high-risk merchants. Because it provides an extra layer of security for customers while making transactions, which is mostly an OTP. 3D-secured payments become more significant for high-risk businesses due to the high chances of fraud.

Transparent fee structure

As a high-risk merchant, you must check the fee structure of an international payment gateway solution. Because the majority of international payment gateway providers charge comparatively more because of hidden charges. Therefore, a merchant can also check the pricing and the fee structure to make sure there are no hidden charges.

Being a high-risk merchant, you can check these points with an international payment gateway before selecting it as a service provider.

How can we help you?

If you want a short and quick way to get the right international payment gateway solution for high-risk businesses in Singapore, we can help you with that. PayCly is among the best international payment gateway providers in the country and provides services to high-risk merchants. Here are a few reasons why it is considered the best international gateway in Singapore for high-risk businesses:

●?????It provides wide global coverage in more than 150 countries.

●?????PayCly provides direct payment links that can help a merchant get payments with the help of any messaging app or social platform.

●?????PayCly supports more than 100 currencies to accept payments from almost every corner of the world.

●?????It is a PCI DSS-compliant payment gateway that ensures the payment card data security of customers.

●?????PayCly provides a multi-lingual checkout page

●?????It provides more than 100 payment methods, which include the local payment option too.?

●?????PayCly has a large banking network, which ensures that payments are approved without delay.

●?????It provides 3D security for transactions.

●?????PayCly provides merchants with chargeback protection against fraudulent chargeback requests.

●?????It provides services with very competitive pricing due to its fee structure, which has no hidden charges.

With the above features, any high-risk merchant wants a payment gateway like PayCly for international transactions. Irrespective of the features or services provided by PayCly, its pricing is one of the lowest in the country. So if you want an international payment gateway solution for your high-risk business, then this is the best available option for you.

A merchant can easily avail of the services of PayCly by applying through the below-mentioned procedure.

How can I create a PayCly merchant account?

The following prerequisites must be satisfied in order to open a PayCly merchant account:

●?????Visit the homepage of the website.

●?????In the top-right corner of the screen, there is a drop-down menu with "Apply Now" as a choice.

●?????The signup form will appear right away on the screen of your smartphone.

●?????All necessary fields on the application must be filled out.

●?????To proceed, click "Submit."

By adhering to these steps, you can find one of the best international payment gateway solution providers in Singapore.