Opening an account with Solidgate payment system (Cyprus)

Solidgate is a fintech company founded in 2016 as a payment service provider (PSP) with an EMI license from the Central Bank of Cyprus. The comprehensive Solidgate Payment Orchestration platform allows accepting online payments worldwide while simultaneously working with multiple acquiring banks and payment providers through a single API integration, supports the Merchant of Record model and multi-currency settlements. Under the "hood" of the platform are Alpha Bank (Greece) and LHV Bank (Estonia).

Solidgate Corporate Account

For international companies, Solidgate offers a comprehensive financial solution, Solidgate Payment Orchestration, which includes 4 components:

1. Multi-currency account: a business account with an IBAN in the company's name; separate balances in EUR, USD and GBP; payments via SEPA Instant, SEPA Regular and SWIFT.

2. Mass payouts: payouts via Visa Direct and Mastercard Move to over 150 countries; batch file upload capability; support for transfers both to bank accounts and payment cards.

3. Corporate cards with spending control: issuance of virtual cards; setting individual limits; real-time expense monitoring; Apple Pay and Google Pay support.

4. Competitive FX exchange: currency exchange at real-time rates, transparent fees, instant funds crediting after conversion.

The "one integration, every provider" approach is aimed at international companies seeking to minimize dependence on local banks and payment providers. Solidgate Payment Orchestration allows automatic selection of the best route for each payment and quick addition of new providers. After opening a multi-currency business account, your company gains access to more than 100 local payment methods, and direct integration with SWIFT allows tracking payments and monitoring the status of international transfers. You do not need to separately enter into contracts with local providers or develop separate integrations for each market.

The platform supports various categories of payment instruments:

• Digital wallets (PayPal, Alipay, WeChat Pay, Mercado Pago), most used by customers from the USA and Latin American countries.

• Bank transfers (Pay by Bank): payment directly from your bank account, predominantly chosen by buyers from EU countries.

• BNPL (Buy Now, Pay Later) deferred payment service: particularly popular in e-commerce and retail (Afterpay, Clearpay).

Solidgate Payment Orchestration for business:

1. Solidgate Acquiring is not just a card payment processing service like merchant acquiring, but a full-fledged infrastructure for their optimization. Your company gains access to acquiring and a multitude of tools for increasing payment conversion and reducing operational costs.

2. Smart Routing is an innovative option that analyzes each transaction and determines which acquirer or payment provider is best to process it through. In case of a bank's refusal to process a payment, the system automatically tries another bank, selects a different processing center, uses a local acquirer. As a result, the client has fewer payment losses and more successful payments.

3. Network Tokenization: the Solidgate payment system supports network tokenization of Visa and Mastercard cards. The platform tokenizes the client's payment credentials once, after which it can use them for recurring or one-time payments or route transactions through different payment providers. This option is used as an account for SaaS, subscriptions and services with recurring payments.

4. Solidgate Treasury is a full-fledged banking solution for international B2B companies, as an account for international trade or service exporters. This is not only a multi-currency account, but also a personal account manager, no limits on payments, SEPA and SWIFT support, ability to adapt tariffs to your business model.

Solidgate is an ultra-modern financial platform for international business that combines the functions of a payment gateway, acquiring and a classic payment system. A business account for IT companies as a holistic payment solution allows not only accepting online payments, but also increasing the level of successful payments without creating separate integrations in the local market.