Business Gateway

[nash111]

Hi All,

I am in the process of registering my company in the UK. The sales of the products will be generated via telephone calling. I intend to outsource the calling which will be done from India or Phillipines.

My question is how do I process the payments of customers who will be providing their CC details over the phone to a calling executive in another country. Should I approach a bank for the merchant account or FSB?

I am new to UKBF as well as to this business gateway process. I did read a few threads about needing a bank account and business plans and forecasts.

Any guidance/help/consultation on this topic would be greatly appreciated.

Regards

 

[Alan]

Yes you will need to obtain a merchant account that is set up for taking card details over the phone. You need to find out about PCI compliance. If you have no track record you may have to work hard to find a suitable banking partner.

You only need a business plan if you are borrowing from the bank.

 

[willjhw]

Hi,

Just a quick point, there are a few companies that you can contact to get a CC facility without the need to go to a bank, so do some research online.

The only thing I would say is that you will be responsible for the credit card transaction even if this is processed by a 3rd party (i.e if you ask a company to take the calls and get them to input the details onto a website to process the payment), if you are getting calls answered outside of the UK, it might just be worth thinking about that point!

Regardless, I wish you all the best in your new venture!

 

[nash111]

Thanks to the both of you

PCI will have to be taken care of too.. However, at this stage I am wondering if anyone would give us a merchant account without any track record. I have also heard that opening a business bank account is also very difficult as none of the directors of my company are British Nationals.

If you guys are aware of any banks or merchant account providers who work with new comers too.. kindly let me know..

Thanks in advance.

 

[willjhw]

Hi Nash,

If the company is registered in England and Wales but without British Nationals as directors, that should still not be a problem to open a business account with a high street bank as far as I know as long as the directors can be identified, although I don't work for a bank!!!!

Or are you asking if you run the company off shore (if that is the case, I am not as sure).

But companies such as worldpay might be able to help you with a merchant account.

Sorry I cannot be of more help.

 

[emediastudiosuk]

You could consider using a Gateway like SagePay that also offer a merchant account along with the gateway

 

[PayPoint net]

Hi

You would need to apply for a MOTO (Mail order / Telephone Order) merchant account as you will require a Virtual Terminal to process the payments securely. Also just a heads up it may be difficult to source a MOTO MID as some acquring banks may not be able to support you as cold calling/ telemarketing may fall outside of their risk policies.

May I ask what the product is?

Thanks
Siobhan