Secure Payment Processing Service for Your Business

With the help of FormationWise you will start accepting payments in no time

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What is Payment Processing

Behind every business in operation today, be it a brick-and-mortar store or an eCommerce platform, is a payment processing service. Its purpose is to ensure that transactions are completed seamlessly to help boost customer experience and improve company profits.

How does it work?

When observed from the surface, a standard credit card transaction will appear simple, as all a merchant has to do is tap, dip, or swipe. But in reality, these merchant services involve multiple steps and players, e.g.,

What we do

Our experts will assist you in opening a merchant account, setting up a payment gateway and you will start accepting card payments in no time. With years of experience we are able to assist with any query you may have.

Our team

Our team is highly experienced  and is here for you. We will create the perfect solution for you and your business!

Send us an inquiry today!

Our team is here to help you every step of the way

Place your order

  • 1

    Select the offshore accounting package for your desired jurisdiction

    Simply choose the offshore accounting and auditing package for your desired jurisdiction by filling out our form, by call or by placing an order on our website

  • 2

    Make payment

    After finalizing the right package, make the payment for your chosen services and send us your financial details

  • 3

    Send your documents

    Forward us all the necessary financial documents through an email with the documents attached or by phone

  • 4

    Start the process

    Once we receive the payment and the required documents, our team will start working on the accounting or auditing service that you have ordered in your chosen jurisdiction

  • 5

    Get it done

    Depending on whether it’s a one-time task or an ongoing financial project, our offshore accounting partners will get the job done in your new jurisdiction

Choose your jurisdiction

Formationwise can assist you to incorporate a company in the below international jurisdictions:

What Is a Credit Card Processing Service?

Payment gateway providers such as FormationWise are vendor companies that are relied upon to manage the logistics that come with accepting credit/debit card payments. Our job is to shuttle the card data from the payment terminal and into the payment network.

You’ll have to work with a payment processor for your online business to accept card payments. Each processor approaches this line of work differently and will typically combine the payment processing service with another related service.

In our case, we have chosen to combine it with bank account opening, allowing our clients to open and operate offshore bank accounts in multiple jurisdictions worldwide. Our top jurisdictions include America, Asia Pacific, Africa, Europe, the Middle East, and the Caribbean.

Our Payment Processing Services

Merchant Accounts

The merchant account serves as the holding area for all pending card payments. Once the card payment gets processed and approved, it immediately gets funnelled from the bank that issued the card and into this account. From here, the funds will get credited to the official business account. Before you can look into the credit card processing fees, you should note that the functions of a merchant account are pretty different from those of a business bank account. The latter handles expenses related to the business operations, such as rent payments, while the former only deals with credit card processing. When you look at the payment-processing chain, you'll note that this account acts as the landing pad for all card payments.

Assistance with Cryptocurrency Payments

A crypto payment gateway refers to a transaction facilitator between a crypto holder and a merchant. eCommerce store owner uses these facilitators to accept and process all crypto payments. These gateways make it possible for crypto-friendly companies to enjoy other benefits linked to crypto use, such as protecting your business from chargeback fraud. It also gives your company a competitive edge, especially given that most people now prefer crypto to cash. We at FormationWise have a payment gateway that enables all online businesses to accept payments from crypto holders. Our team can work with you to integrate it into your business, paving the way for borderless transactions.

Credit and Debit Card Processing

More and more consumers are increasingly choosing to make cashless payments, forcing businesses to find a way to keep up. According to a recent Bank of America report, a third of all business owners are expecting to begin accepting different forms of cashless payments soon. As you decide which payment solutions will work for your business, you need to understand how this complex but seamless process works. Also, note that selecting a payment solution tailored to your business needs can significantly enhance your efficiency. A typical path to payment when using a high-risk merchant account works as follows: I. Initiation II. Transmission of customer information III. Authorization IV. Confirmation of funds V. Settlement

Alternative Payments (Digital Wallets, eChecks, Etc.)

High-risk merchants generally use alternative payment methods to accept payments from customers who don't want to use cash or card to pay for goods or services. The rise of different types of online ventures has spurred their use. Furthermore, cards aren't secure or flexible enough to cover the broadening range of customer shopping behaviours, making it even more necessary to consider other forms of payment. Compared to traditional payment methods, these methods offer benefits such as access to: • Electronic funds transfers • Domestic and international transactions • Digital wallets • Buy Now Pay Later option • Crypto payments • Cash-based alternative payments, e.g., prepaid cards and exchanges

Payment Gateways

The payment gateway from a merchant service provider helps establish a secure connection needed to encrypt card data and transfer it securely. Our gateway verifies the authenticity of the card while ensuring the card information will not leak during the transaction. In most cases, your business won't need to use a separate gateway if you're already using a point-of-sale system to accept credit and debit card payments. If you want, we can offer this as an in-house service allowing you to work with us in processing all card-related transactions. A payment gateway's added layer of security should prove appealing to all entrepreneurs. Remember, you have a duty to protect customer information from getting leaked or intercepted when processing a payment.

Chargeback Protection

Chargeback Protection from FormationWise is a service that assists in protecting your venture from the unpredictability that may arise when there's a dispute. What this means is that in the event of a dispute, we will not only cover the disputed amount but also waive the dispute fees. For you, it means that you won't have to worry about evidence submission. Its top benefits are: • It protects all types of businesses and covers transactions of all sizes • You get to skip evidence submission, which can prove tedious and time-consuming • Stop losing money on fraudulent disputes, which can lead to untold losses

Why Do You Need A Specialized Payment Service?

Your business needs a specialised payment solution if you’re to start accepting credit/debit card payments and alternative forms of payments. These solutions are ideal for fast-growing power sellers and businesses looking to centralize their payments.

Top among the benefits that you stand to gain from using secure payment systems are:

Instant Approval

A payment-processing service provides instant approval and offers access to apps and other online tools that enable your business to begin accepting payments instantly.

Little to No Monthly Fees

The right payment processor can save you hundreds of pounds annually in monthly fees compared to your everyday merchant account provider. It mainly holds for solopreneurs and eCommerce store owners who process payments occasionally.

No Long-Term Contracts

Most credit card processing for small business services are completely risk-free as they don't attract long-term commitments or high service termination fees. Plus, you have access to a team that will always come to your help whenever you have an issue.

Streamlined Business Management Tools

Our payment services have combined a broad suite of integrated online payment services, including bank account opening, offshore taxation, and accounting and auditing services. You can also come to us for your website creation needs.

Why Choose FormationWise?

FormationWise provides premium online credit card processing and alternative payment services that will enable your business to reduce its expenses while becoming more efficient. The following is a look at some of the reasons why you should choose FormationWise:

Free Initial Consultation

All clients who come to us for a high-risk payment gateway solution benefit from a free initial consultation. The consultation allows us to advise you on the best integration strategy for your business or venture.

Complete Range of Services

We at FormationWise are what we call an all-inclusive service provider. We offer our clients an exclusive suite of services that includes everything from payment processing to tax planning, offshore bank account opening to tax planning, and offshore bookkeeping.

Highly Experienced

Since inception, we have worked with hundreds of local and international customers and won tons of awards thanks to our highly experienced team of consultants. Our team strives to provide 100% satisfaction at all times, guaranteeing value for your money.

Effective and Reliable

You can trust us to offer you the best advice possible at all times. Our advice is geared towards making sure that you won’t get duped by other high-risk payment processors that are only out to make a profit without caring about your business needs.

Merchant Account Vs. Payment Processor

Most entrepreneurs venturing into online businesses for the first time will find it confusing to differentiate between the many merchant services available today. And this is in addition to understanding the differences that exist between a merchant account and a payment processor. Below is a look at the two to make it easier for you to distinguish them.

Merchant Account

Before you can start looking into merchant account fees, you must start by understanding what it is and how it’s used. In simple terms, a merchant account is like a holding account where all card payments go before they can reach your official business account.

You can look at it like a special bank account whose job is to receive the payments made by your customers. This is the account you’ll use to store all the income generated from the sales earned online.

Of importance to note is that a merchant account will remain the same, no matter whether you sell subscriptions, physical, or digital products. It’s basically the account you’ll use to gather all the transactions made by your customers.

Payment Processor

A high-risk payment processor or acquirer refers to a financial institution that provides payment-processing services relied upon by online merchants to accept card payments. The processor can partner with other institutions dealing with consumers or merchants for better service delivery.

Payment processors work with payment gateways via a reselling agreement to offer these services to online merchants. While some processors provide direct merchant services, most of them opt to stick to payment processing.

The general rule of thumb is that payment processors shouldn’t market their services. Theirs is to operate in the background and handle payments for Member Service Providers and Independent Sales Organizations that have partnered with them.

High-risk vs. Low-risk accounts

Based on the criteria created by merchant account providers, a typical merchant account can either fall into one of two categories: either a high-risk or low-risk account. Their characteristics are as follows:



Businesses that fall under the high-risk category must be prepared to pay a higher price than their counterparts. Apart from attracting higher fees, high-risk merchant accounts also have to deal with more stringent contract conditions.

All this is done to reduce potential risks.

How Does It All Work?

On the surface, the entire process seems as simple as 1,2,3. But in reality, there’s so much more happening behind the scenes. For example, the process involves services such as authorization, funding, and transaction settlement.

Let’s look at it in more detail:

Engagement at the POS

The POS serves as the time and location where every transaction gets completed. Here, payment types will vary and can include credit, debit cards, eChecks, cryptocurrency, and alternative payments.

Connecting to the Payment Gateway

The payment gateway refers to the mechanism that's used to read and transfer the customer information from their card to the business bank account.

Enter the Payment Processor

The payment processor receives a request from the merchant account to authorize the transaction in progress. At this point, the processor will need to complete a series of steps: I. It sends a transaction to the card issuer II. The issuer checks the pre-set parameters to determine whether it should accept or reject the transaction III. The issuer sends back either an approval or rejection based on the findings made above

Transfer of Funds to the Business Account

Once the transaction has been processed and approved, it's now time to process and settle the funds owed. This is where the money charged earlier from the customer account gets deposited into the business account.

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Credit card processing fees refer to the fee charged by a payment processor and typically vary between 1.5% to 3.5% of each individual transaction’s total. So, for example, if you complete a £100 sale, this means you might end up paying £1.50 to £3.50 in fees.

If operating a small business, these fees can form a significant expense for your operations. It’s the reason you must do your research before settling on a merchant service provider. Ensure that the chosen provider can satisfy your business needs.

If you are wondering how to go about calculating your credit card fees, worry not, as we are here to help. We at FormationWise make it a point to state our fees beforehand, assuring you that there are no hidden charges. We will discuss everything with you in advance to provide you with an overview of what to expect from our service.

It refers to a transaction processing technology that captures, stores, and transmits customer information to a payment processor. Once the data is processed, it then sends an approval or rejection notification to the customer.

Put simply, a payment gateway serves as a go-between between the consumer and the business. It operates as the interface between the eCommerce store and the processor and can significantly simplify how online companies process payments.

Besides transmitting information, it also helps safeguard customer information, ensuring it doesn’t get leaked to hackers. It does this by following strict encryption standards and by abiding by the PCI-DSS compliance standards.

There are factors you can’t afford to overlook when searching for payment gateway providers. You need a gateway that will fit your business model, or else you’ll find your business losing money and its customers to your competition.

Some of the most important factors to consider when in search of high-risk payment processors include the following:

• Cost: Consider how much money you’ll have to spend to get the gateway setup. The costs typically fall under three categories: setup fee, monthly fee, and transaction costs.
• Multiple currency support
• Holding time
• Types of cards supported
• Recurrent billing
• Security
• Mobile payment support
• Limits

No. If your business is to start accepting any kind of online or alternative payment, you’ll need to apply for both a corporate bank account and a merchant account. However, there are some services that offer payment-processing without having to apply for a merchant account.

Such services are known as payment facilitators. In such cases, the merchants get boarded under a single merchant account. An example of such a service is Stripe, Square, and PayPal. The downsides to using a payment facilitator include the following:

• Limited customer service
• Longer funding times
• High transaction fees

Yes. As mentioned above, you can choose to use a payment facilitator instead of a merchant account. The payment facilitator will allow you to accept card payments in the same way that many other modern businesses are doing.

Payment service providers work in the same way as merchant accounts because they can accept and store the money coming to your business from card payments. You’ll, however, need to sign up for the account and manage it online.

If you go this route, make sure to do your due diligence and understand the risks that come with operating a PSP in place of a merchant account.

Every business that processes online payments will need a merchant account. But these accounts are necessary; their downside is that they are not something a business owner can handle independently.

The only way for them to get a merchant account is by partnering with a merchant services provider, such as FormationWise. Partnering with us will allow us to create a merchant account for you, making it easier to process all card payments.

Businesses face various challenges when attempting to obtain a payment gateway. Fortunately, many of these challenges are easy to overcome if you know where to look and the payment processor to partner with.

To ensure that your customer will keep coming back, you must find a way to make it easy for them to shop. You can do this by integrating a state-of-the-art payment solution that will assist in streamlining the checkout process.

Any payment solution you choose should allow for an effortless integration with other aspects of your business. A secure and efficient payment gateway from FormationWise can enable you to reduce the challenges that come with finding a reliable payment processor.

The primary difference between these two accounts lies in that a merchant account enables you to accept card payments, while a corporate account allows you to manage all your funds. In this scenario, the merchant account is a repository for your credit card sales.

It’s the account you’ll use to manage all your incoming and outgoing currency. After saving the cash for a while, you can then proceed to transfer the entire sum into your business account. Funding typically takes one to two days when working with a renowned merchant.

When the funds arrive in your business account, you can now use them to pay your payroll and rent and handle other business-related expenses.

Yes. The payment processing industry is one of the most regulated industries, mainly because it transfers customer data from one company to another. Apart from the customer, others that need protection include the issuing banks, merchants, and payment processors.

Any company operating within this space will need to adhere to stringent PCI DSS standards. To ensure that sensitive financial data doesn’t end up in the wrong hands, every processor must encrypt the data it’s transmitting using military encryption standards.

Some of the signs that indicate a processor is trustworthy are:

• PCI DSS compliance standards
• Fee transparency
• Bank-level security for all the stored cards
• Its reputation

Yes. Merchant accounts fall under five distinct categories, each offering something unique. These account types are as shown below:

• Retail merchant account
• eCommerce/Internet account
• Mobile merchant account
• Telephone merchant account
• Mail order merchant account

Remember, any online business that accepts card and alternative payments will need to have a merchant account of some type. Each of the above-mentioned account types will attract varying terms, so ensure you’re well-informed of their terms.

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