emerchantpay Brokers 2021 - Which Brokers Accept emerchantpay?

emerchantpay is a payment service provider for online, mobile, and point of sale transactions. They deliver high capacity processing across several industries including forex, and offer a variety of payment methods and fraud management tools. Our review will cover the key features of this transaction route, including where emerchantpay operates, their payment gateway, and their benefits for traders.

emerchantpay Headlines

emerchantpay Limited is authorised as an electronic money institution by the Financial Conduct Authority (FCA). The corporation operates London, Munich, USA, Bulgaria, Malta, and India office locations, among others. emerchantpay UK Services Limited and Group Ltd are additional companies registered in Newcastle. emerchantpay Hong Kong Limited and Mauritius Limited are also active companies incorporated by the group.

The firm has an API that brokers can use to integrate a payment gateway into their website, in order for customers to make transactions. The emerchantpay API documentation and a list of test payment cards is available on GitHub for developers, and a full tutorial can be found on the company webpages.

Pros Of Trading With emerchantpay

Global Acceptance

emerchantpay allows the receipt of funds globally via the payment gateway, including across Europe, Africa, Canada, North and South America, and the Asia-Pacific. They offer more than 20 currencies for settlement and processing for over 150. Choosing a broker that includes emerchantpay makes it likely that you can deposit and withdraw in your local currency.

Multiple Funding Methods

Traders have the option of more than 50 transaction routes including card payments, eWallets, real-time bank transfers, QR codes, and pre-paid cards. This flexibility may interest clients who store their funds across several storage options.

Cryptocurrency Supported

Like many of emerchantpays’ competitors, the firm now accepts cryptocurrency payments and also offers over 60 other Alternative Payment Methods (APMs). As crypto-asset exchange is only increasing in popularity, many traders will appreciate the convenience of funding directly with cryptos.

Cons Of Trading With emerchantpay

No Wallet Function

emerchantpay offers technology that allows brokers to accept payments from traders, but it does not act as a wallet directly. This means there is no functionality for storing funds or debit/credit cards, although the service does validate your card details in order to retrieve funds from the bank and offers digital wallets as payment methods.

Limited Customer Service

The emerchantpay service is geared towards brokers and other businesses, to adopt their payment gateway and improve cashflow. As a result, there does not appear to be customer service contact details for individuals who may use the gateway for deposits etc, and this may be an issue for clients looking to resolve any problems they have encountered.

Speed

Customer reviews don’t point to any issues in terms of payment speeds. As a major transactions facilitator, traders and brokers can expect same-day processing for most deposits. emerchantpay is an intermediary between your broker and the acquiring bank, so speed will also be affected by broker processing times and customers should check terms and conditions for full details.

Security

emerchantpay has integrated security software for risk management that detects spurious transactions and prevents fraud in real-time. The rule-based risk engine protects traders’ investments and also reduces false declines.

The provider ensures that customers’ financial details are safe using Secure Socket Layer data encryption. It also supports 3D Secure 2.0, an authentication protocol that gathers an extensive amount of transactional data and requests identity verification if the payment is found to be high risk.

The emerchantpay privacy policy also sets out the firm’s commitment to upholding data protection policies and maintaining the highest security standards.

Deposits & Withdrawals

To deposit or withdraw funds from emerchantpay-supported brokers, clients can select the required service on the transactions page and choose a payment method. Additional verification may be required depending on your individual broker, and deposit/withdrawal limits may be in place.

emerchantpay also has a news and insights section on their website that clients can navigate to from the homepage, by clicking the provider logo.

Fees

Information on emerchantpay’s fee structure is limited to those charged to the broker or other businesses using the service, and they include interchange fees and other provider charges. As such, emerchantpay does not appear to charge clients of the broker. With this in mind, traders should be aware that a number of brokers charge their own fees for deposits or withdrawals.

Is emerchantpay A Good Choice For Traders?

emerchantpay is a payment service provider that offers a wide range of traditional and alternative transaction routes, and processing in over 150 currencies which many global clients will appreciate. The provider’s advanced fraud management software offers peace of mind to traders, and the service includes an API for businesses. However, potential clients may be hesitant due to the lack of wallet function and dedicated customer support.

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