GSL / CONNECTUM

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
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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
    Need a consultation from a specialist?
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