Forex Payment Provider U.S

Forex Payment Provider U.S. Enhance Your High-Risk Forex Businesses

 

If you are here, it means you are thinking about launching your forex businesses in U.S. or wants to know in detail about the "Forex Payment Provider U.S." Right?


 

The foreign exchange market is one of the most active financial markets in the world, and it moves quickly and exhilaratingly. Its daily transaction is approx $ 7.5 trillion. If you want to start investing or trading in foreign exchange (commonly known as the Forex market) in the U.S., then you need the best forex payment provider US.

That's why we come up with this blog. This blog will help you, and you will get the best solutions for your forex businesses in the U.S. So, let's start.

Forex Market Size in the U.S.

In April 2022, currency trade hit a record $7.5 trillion per day, with the dollar continuing to hold a privileged position. The Bank for International Settlements, the umbrella organization for central banks, compiled data from April for its study.

The overall transaction of $7.5 trillion per day was a historically modest 14% increase from $6.6 trillion in 2019. Significantly higher volumes in the foreign exchange spot, swaps, and forward markets were principally to blame for this rise.

With 88% of all trades, the dollar became the most widely traded currency. Over the last ten years, this level has been sustained.

Forex Trading Statistics In The U.S. -

  • The daily turnover of the forex market reached $7.5 trillion in April 2022 from $6.6 trillion in 2019.

  • It is the only market open 24*7.

  • Dealing in more than 170 different currencies, it is one of the biggest markets.

  • The U.S. dollar accounts for 88% of all trades on the foreign currency market.

  • Approximately 175,000 F.X. transactions are ongoing accounts in the U.S.

  • According to trading volume, TD-Ameritrade is the largest broker in the USA (70,000). The most outstanding client profitability percentage is 43% at Interactive Brokers.

What is Forex Payment Provider U.S.?

Before moving to the forex payment provider, try to understand what the payment provider is. A payment service provider is a third-party service that acts as a middleman or a payment link between the merchant and the customers. It allows the merchant to accept online payments from various payment methods such as debit/credit cards, e-wallets, net banking, mobile payments, etc.

The payment provider's primary work is ensuring that all online transactions are secure and seamless. In the same way, a forex payment provider works in the U.S., but this payment service provider is specialized in the forex industries.

How Does Forex Payment Service Provider work?

Forex payment service providers manage all the payment works from the authorization of funds from the customer's account to the settlement of the funds into the merchant's account. So, let's try to understand it step by step -

  • At the very first, the customer should enter their card details. Once the customer clicks on the submit button, a transaction request is sent to the forex payment gateway.

  • The following stage entails examining the customer's card information and determining whether sufficient money is in the customer's account to complete the transaction. A forex payment processor assists a PSP in carrying out this task.

  • A confirmation, such as an OTP, is performed to ensure there is no chance of fraud.

  • The PSP starts transferring funds from the customer's account to the merchant's account after the aforementioned has been completed, i.e., the customer's details have been validated and determined to be accurate, and they have enough balance to fund the transaction.

  • After completion, a confirmation message about the finished transaction is delivered to the merchant and the client.

Is Payment Service Provider and Payment Gateway Same?

Most beginner merchants need clarification on the payment service provider and Gateway. Payment Service Providers and payment gateways are two crucial elements in the card processing chain, yet they are fundamentally distinct entities.

A payment gateway is a system that facilitates credit card transactions between a business and its clients. In other words, it is responsible for ensuring the security and capability of delivering credit card information from the merchant's website to the payment processor. The payment gateway then establishes a connection with the PSP to complete the transaction after receiving the payment details.

On the other hand, the financial institution that makes the transactions possible is the payment service provider. It directly connects businesses with credit card networks or with Payment processing to handle payments.

Which Forex Service Provider is Best in the U.S.?

The U.S. is the hub of forex businesses, so you can get many service providers. But it is challenging to choose one among the thousands. As forex is a high-risk business, so merchants should look for a service provider who has the experience and also specializes in dealing with the forex industries.

So, to make your work easy, we recommend you go with PayCly. PayCly is a complete payment solution that is compatible with forex businesses.

We as "PayCly" offers suitable forex gateway, forex merchant account, and forex credit card processing for your high-risk forex businesses. With us, the merchant can focus on their businesses.

What Benefits PayCly offer you?

Let's have a look at some of the best benefits of PayCly -

International Payment Processing:

  • As our services are available worldwide, we can accept all major credit cards.

  • Debit cards

  • Electronic Checks.

Futuristic Security tools:

  • We can identify and stop suspicious and potentially fraudulent transactions.

  • PCI DSS Level 1 compliance

  • Address verification services

  • Card security core verification

  • Tokenization

Online Account Management:

  • Permit you to download account statements and reports and to view the real-time reporting.

  • To make reporting and reconciliation more accessible, get the specifics of your processed transactions.

Customer Support -

  • We offer the best customer service worldwide through email and live chat.

Grow Your High-risk Businesses With Us:

  • Along with credit cards, we also offer other popular payment methods like net banking, e-wallets, mobile payments, and crypto-currencies.

  • We provide a simple and hassle-free checkout process.

Recurring and Subscription Billing:

  • Base your prices for returning consumers on the information you have on file.

  • Recurring billing, which automatically manages subscriptions.

  • Thanks to dynamic recurring billing, you can charge your clients on various days or with significant monthly amounts.

Instant approval for the merchant account:

  • With us, a forex trading merchant account can get approved within three to seven working days, with all the proper documents, because we deal with most acquiring banks and financial service providers worldwide.

Final Thoughts -

Payment service providers (PSPs) have established themselves as a crucial link in the global financial system, facilitating the smooth movement of numerous high-volume transactions. They enhance consumer satisfaction and support the growth of enterprises.

As the U.S. is the hub of the forex businesses, the merchant can get many options. But, we suggest choosing PayCly as a forex payment service provider. It offers a range of services such as integration, suitable payment gateway, help in obtaining a merchant account, and many more so that you can focus on your business growth in an effective manner.

Feel free to contact us any time through email or live chats.

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