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I am looking for a payment agent in Cyprus

I am located in Canada and my Canadian company developed/own a Football stats and tips website. The website sells algorithm-based football predictions and gives user access to other users' tips. During the last 2 years of development, our in house algorithm generated 30%+ ROI and it is improving. Our app delivers more than 100 valuable predictions every month. I am planning to sell subscriptions with free trials for 2 days, then $39 per months via credit cards if not cancelled. The customer will be charged $1 for the 2 days trial. I am looking for a payment agent in Cyprus to manage the billing part of this business (including refund and cancellations if possible). I should have access to a dashboard where i can transfer money from subscriptions to any bank account anytime.
 
The question above is valid. The terminology doesn't quite add up. Why are you interested in Cyprus? What problem are you trying to solve that you cannot with a Canadian company?

If you want a Cyprus (EU) payment agent company, you normally create it yourself with the help of corporate service provider/lawyer. It has to be a direct subsidiary with careful legal arrangements in place. A third party company cannot offer payment or financial services without being licensed.
 
According to a credit card T&C update, merchants must send a reminder notification (i.e., email or SMS/text) at least seven (7) days before initiating a recurring transaction. If possible, I would like to be able to charge credit cards after 24h or 48h after a free trial like all my competitors instead of 7 days as required normally by Visa. By reading T&C of my competitors, i realized that they all use payment agents in Cyprus. Also, I was told that a Cyprus (EU) payment agent company is the best solution but i am open to any juridiction honestly.
 
The Visa and Mastercard regulations for subscriptions are uniform across the world. Setting up a company in Cyprus won't change that.

It sounds like your competitors either aren't complying with the card network rules or have set up their customer onboarding in a way that is still compliant with the rules. If your trial is shorter than 7 days, you need to make this extremely clear to the customer when they sign up.
 
Well, competitors are using payment agents in Malta. See below a sample payment page. I would like to set up a similar payment process.

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According to a credit card T&C update, merchants must send a reminder notification (i.e., email or SMS/text) at least seven (7) days before initiating a recurring transaction. If possible, I would like to be able to charge credit cards after 24h or 48h after a free trial like all my competitors instead of 7 days as required normally by Visa. By reading T&C of my competitors, i realized that they all use payment agents in Cyprus. Also, I was told that a Cyprus (EU) payment agent company is the best solution but i am open to any juridiction honestly.
if you business idea is worth more than 95€ I would suggest you to get mentor group access and read this guide

it will take you by hand and introduce you to everyone you need to get your card processing up within a few days, in Europe!
 
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Well, competitors are using payment agents in Malta. See below a sample payment page. I would like to set up a similar payment process.

View attachment 3503

The printscreen shows a high-risk VOD/Sweepstake website. They are located in Cyprus for privacy and tax reasons, just like most sweepstake/VOD/dating websites. They either own their own Payment processing companies (Example PaymentsMB, as you can read in the article below), or setup 30-40 cyprus companies and opening multiple merchant accounts for each company to avoid high chargebacks and so on, by load balancing the subscriptions to various merchant accounts.

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BTW, you don't need to wait 7 days to charge the subscriber, you can just send the required reminder the same time the user signs up (In the confirmation e-mail), then its solved. This rule is for trial-periods of maybe 14 or 30 days, then you need to remind the user at least 7 days before the next charge after the trial.
 
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This rule is for trial-periods of maybe 14 or 30 days, then you need to remind the user at least 7 days before the next charge after the trial.
sounds more right to me.


Some leads for you!
 

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