If you’re a traditional brick-and-mortar business looking to make the transition to online commerce, a merchant account is an essential requirement. Merchant accounts are needed to process online debit and credit card payments.
Payment service provider, First Atlantic Commerce (FAC), works with various global banks to provide merchants with an online solution that fits their business. We offer international merchant account solutions via acquiring banks in jurisdictions around the world including Latin America, the Caribbean, Europe and Mauritius.
If you’re an experienced business with a strong trading history or you are an existing online business, and you decide FAC is the payment services provider for you, the first step to doing business with us is to complete our online pre-application form. After providing us with a small amount of business details – business location, annual processing volumes, average transaction values and preferred currencies, for example – a personal relationship manager will get in contact with you within two business days to advise further.
If we have a solution that fits your needs, we will provide you with a pricing proposal (subject to bank approval). Merchants will then need to provide a number of documents in order to gain approval for their merchant account with the bank. This can include a business plan or overview, financial statements, shareholder passport copies, corporate bank statements, articles of incorporation, bank references and more, but this varies depending on the bank. Our teams will work with you to confirm your online requirements and facilitate the set-up of your merchant account. Once the merchant account is approved, our business development team will advise merchants directly to get the integration process started.
We recommend that merchants use an experienced ecommerce developer for integration of the payment gateway to your website. The integration will go smoothly and quickly so long as you use a developer, who is familiar with the process. We can also recommend developers that have worked on many integrations for FAC and our clients.
Once the merchant account is open and a Merchant ID is issued by the bank, final testing and user training on our merchant portal will commence so merchants are able to review transactions and build reports according to their needs. From application to go-live, we estimate the process will take four to eight weeks, but this can be reduced if merchants prioritize all aspects of the process.