Need PSP solution for low risk (consulting)

[lrotter]

Hey guys!
We are looking for good PSP solution.
Low risk business (business and legal consultancy, legal advise and support etc).
Registered in Hong Kong, UBO real and ready to have interviews.
Need: PSP, no rolling reserve, up to weekly settlements, not higher than 2%.
Please advise reliable and good solution.
Checked most of EMI and Banks thread, no matches for this case.
Thanks!

 

[Sols]

If you are incorporated in Hong Kong, you either need to find a processor in Hong Kong or form a subsidiary in another country (EU is popular) to process with an acquirer there. All major banks in Hong Kong offer merchant accounts.

2% is not realistic for processing outside of Europe and maybe Australia, especially for B2B since commercial cards attract a higher interchange. Domestic acquiring in HK tends to start around 3-4% for credit cards.

What are you processing per month?

 

[lrotter]

This company has subsidiary British entity, but there is no connected accounts to it.
Regarding processing per month - around 100K EUR, but not sure about it.
Thx

 

[Sols]

The volumes look good, assuming they're legit and no layering/miscoding.

The next questions on a PSP compliance officer's checklist will be:
- Is the entity a shell corporation? Some acquirers will insist that the company has a unique address and not just some incorporation mill or virtual office.
- Where do operations take place? HK, UK, remote, elsewhere...
- What exactly is the business model? The business you've described so far sounds very varied. If you offer legal services, do you hire actual lawyers?
- How will you accept credit card details? Online payment form or phone?
- Who are the customers?

 

[lrotter]

The volumes look good, assuming they're legit and no layering/miscoding.

The next questions on a PSP compliance officer's checklist will be:
- Is the entity a shell corporation? Some acquirers will insist that the company has a unique address and not just some incorporation mill or virtual office.
- Where do operations take place? HK, UK, remote, elsewhere...
- What exactly is the business model? The business you've described so far sounds very varied. If you offer legal services, do you hire actual lawyers?
- How will you accept credit card details? Online payment form or phone?
- Who are the customers?

Hey Sols, we are also okay to open for UK entity for them, just to get favorable terms.
Re your questions:
- UK is currently dormant, but has active secretary. HK is active entity, with audit and subcontractors.
- operations are remote.
- intermediary services, finding local specialists for clients in countries where they want to operate/register. Simple legal consultancy as well. 4 lawyers are involved into operations
- online payment.
- individuals and law firms.
-