What are the merchant payment services in Dubai?
December 3, 2022
Understand the possibilities of accepting electronic payment to your business in Dubai. NHBC provides you the best merchant payment solution in Dubai, UAE
Merchant payment process and services in Dubai
Are you ready to include electronic payment for your small business? Then, here are some important facts you should know about merchant payment services for small businesses or start-ups.
What is merchant payment service?
The basic of merchant processing is simple where you have to signup with a merchant payment provider so that your business can accept debitcards, credit cards, and other forms of payment from your customers. Here, the payment processor collects the required transaction amount and deposit rest inyour business bank account. By choosing the best merchant payment solution, you can avail the following benefits,
- Save your money
- Get access to more useful data
- Find payment solutions tailored to your business needs
Merchant payment services in Dubai
- Retail merchant accounts
The above account type is specifically designed to help average product-oriented business having a physical storefront. The merchant account can be provided by a third party processor and serve to connect to other card networks and issuing banks. The traditional account type comes with a card-reading hardware. Retail accounts deal with physical cards and its security issues.
- Internet merchant accounts
Internet merchant solutions are designed for ecommerce businesses. If you run an online business, then it’s a cost-effective option with multiple payment options and secure online portal. Here, customers consider it as a secure portal to make their purchases.
- MOTO merchant accounts or Mail order/telephone order
These accounts are specifically designed for mail or telephone order companies. Today, most services are bundled into retail or online options, but MOTO remains as a standalone service.
Merchant account fees and categories
Merchant account is a good option for small businesses because of its reasonable fee structures. The merchant accounts have different types of fees based on the business.
The common fees include,
- Transaction fees
The transaction fee is applicable after each transaction. The fee is divided into actual transaction amount and flat fee for each transaction. Both the percentage vary based on different factors such as business size and processing volume.
- Minimum fees
You will have to pay a minimum fee each month as a service fee. The service provider may offer any discounts or waivers for new businesses.
- Statement fees
It’s the document processing fees charged each month. It may differ based on how you accept your fees.
- Gateway fees
This gateway fees is applicable if you use a third party payment process to access card networks. In few cases, merchants use third party gateway to access specific payment processing features.
- Incidental fees
It’s considered as miscellaneous fees that vary from one provider to other. For example – certain providers include fees for customer service, charge backs, or add-on services.
Choose the best merchant payment solutions in Dubai
NHBC being a leading merchant payment solution provider in Dubai, we ensure secure transactions throughout your business. We understand your business and provide the most convenient payment experience while keeping up security as a top priority. NHBC allows seamless payment solutions and dedicated customer support.