How to open a payment system account in CONNECTUM
Main characteristics and experience with the payment system
Cost
2750 USD
Beginning of cooperation
August, 2019
Last contact
August, 2022
Last update
November, 2023
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- CONNECTUM is an Authorized Payment Institution, founded in the United Kingdom and regulated by the Financial Conduct Authority since 2014;
- Merchant account opening (a current account is opened only in addition to a merchant account);
- Remote account opening;
- Accepts EEA companies;
- Dedicated IBAN account;
- Cross-border payments with SEPA and SWIFT;
- Support Team speaks English, French, Spanish, Russian;
- Principal Member Acquirer of VISA, MASTERCARD and UNIONPAY. ApplePay and GooglePay are supported;
- Over 100 processing currencies with settlements in EUR, GBP;
- Feature rich payment gateway (Recurring, 1-click payments, E-invoicing, Payouts).
- Active online banking; Cards issuance is possible; SWIFT and SEPA payments are available
Cost
2750 USD
Beginning of cooperation
August, 2019
Last contact
August, 2022
Last update
November, 2023
General information and GSL rating
2014
Year of foundation
UK
Country of license issue
FCA
Regulator
GSL rating
Year of foundation
2014
History
CONNECTUM holds Authorized Payment Institution license since 2014, supervised by Financial Conduct Authority, registration No. 624117.
Principal Acquirer Membership in: VISA, Mastercard; an Acquiring Only Principal Membership in UnionPay for SEPA region.
Personnel
English, French, Spanish, Russian language support
Payment system owners
The payment system was founded in 2014 and since 2020, Sokha Heng, who, according to press sources, is the wife of former Cambodian Minister of Transport is a new sole shareholder
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Minimum requirements
No restrictions
Minimal turnover, €
0
Minimal balance, €
No
Do they work with offshore companies
Yes
Do they require a substance
Minimal turnover, €
No restrictions
Restrictions by jurisdiction
EEA-registered companies
Restrictions by activity
Check with support staff on a case-by-case basis for activity limitations
Restrictions by substance
Requires an office in the country of registration (preferably in the EU)
Tariffs and services
from 20
Array
from 5
Array
25
Account maintenance, €/month
500 / 1000
Acquiring commission
Account opening procedure, €
The fee for opening an account is 1 000 EUR;
Urgent documentation review and current account opening within 48 business hours (full document package must be provided) — 2 000 EUR. Account opening fee for merchant account - free
Array
SEPA: from 5 EUR; non-SEPA: from 60 EUR. Acquiring commission for merchant account set individually
Array
SEPA: from 5 EUR; non-SEPA: from 10 EUR
Account maintenance, €/month
The account maintenance fee is 25 EUR per month. Account closure: 100 EUR
Acquiring commission
Set individually
Other services
Account balance fee: 0.6% per annum
Account opening procedure
Account opening terms
Case by case
Possibility of remote account opening
Yes
Business description
Detailed
Types of accounts
Current; Merchant
Document requirements
Business Application; Registration documents; KYC pack for Beneficial Owners; Company's bank statement; Processing history; Proof of domain; Proof of Office (additional documents can be requested)
Possibility of remote account opening
It is possible to open an account and be identified remotely
Types of accounts
Current; Merchant
Chances to open an account
Predictable
Business description (text description)
Provide detailed information about organizational structure, business description, basic partners
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