How to open a payment system account in Next Online
Main characteristics and experience with the payment system
Cost
2750 USD
Beginning of cooperation
August, 2024
Last contact
August, 2024
Last update
August, 2024
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- Established in 1999, is the largest acquirer in the UAE and the leading e-commerce provider in the MEA (Middle East and Africa) region;
- Opens accounts for local companies (Mainland, Free Zone Companies);
- Account opening is done remotely;
- Available currencies: AED, USD, EUR;
- Both Payment Gateway and Payment by Link options are available;
- To open a Merchant Account you need to have an already opened corporate account, as well as a working website, where the terms and conditions of purchase and return of goods (Terms & Conditions, Refund, Payment Terms, Privacy Notice) are specified;
- Pre-approval is possible before starting the account opening process;
- Account opening fee in one currency is AED 5 000* (~ USD 1 360);
- Internet-bank in English;
- Term of account opening: ~ 1-3 weeks.
*These are approximate tariffs, as they may ultimately differ depending on the service program chosen by the client.
Cost
2750 USD
Beginning of cooperation
August, 2024
Last contact
August, 2024
Last update
August, 2024
General information and GSL rating
1999
Year of foundation
UAE
Country of license issue
CB UAE
Regulator
GSL rating
Year of foundation
1999
History
Founded in 1999
Personnel
Communication is conducted in English
Payment system owners
Financing companies
Compare payment systems
Minimum requirements
No restrictions
Minimal turnover, €
0
Minimal balance, €
No
Do they work with offshore companies
No
Do they require a substance
Minimal turnover, €
No restrictions
Restrictions by jurisdiction
Opens accounts for local companies (Mainland, Free Zone Companies)
Tariffs and services
N/A
Array
N/A
Array
N/A
Account maintenance, €/month
—
Acquiring commission
Account opening procedure, €
Fee for opening an account in one currency: AED 5 000 (~ USD 1 360)
Account opening procedure
Account opening terms
Case by case
Possibility of remote account opening
Yes
Business description
Detailed
Types of accounts
Savings; Current; Merchant
Document requirements
For legal entity: License; Memorandum and Articles of Association; completed Company Profile; bank confirmation of current corporate account; website, phone number, e-mail for the company; completed questionnaires for the company and owner; copies of current contracts with counterparties and invoices; office lease agreement and 2 - 3 photos of the office premises.
For an individual (directors / shareholders / beneficiaries / attorneys): proof of identity (passport), as well as Emirates ID for the signatory on the account.
Possibility of remote account opening
Account opening is done remotely
Types of accounts
Savings; Current; Merchant
Chances to open an account
Predictable
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