The United Kingdom is leaving the European Union.
Over the past 36 hours, the announcement has UK citizens and ex-pats divided for a multitude of reasons. European and Asian stock markets have sputtered. The Great Britain pound’s value is down to a 31-year low. Prime Minister David Cameron is stepping down. People are on edge, to say the least.
What does it mean for international merchants with UK registered businesses?
Nothing. And here’s why.
Who Governs UK Acquiring Banks?
International merchants registered in the United Kingdom have nothing to fear: Acquiring banks in the UK are governed by Visa and MasterCard International, not the UK government.
International merchants registered in the UK will not need to re-register or re-apply to UK acquiring banks.
“A good example to look upon is Switzerland, a non-European Union country, which also follows the guidelines and policies of Visa Europe and MasterCard International,” said Instabill Founder and CEO Jason Field, a native of London.
5 Benefits of European Merchant Accounts
- Low Rates: With recent EU interchange fees capped, Instabill can offer qualifying e-commerce merchants rates as low as 2.5 percent.
- Company Registrations: With a European merchant account and registration in the UK, Malta or Cyprus merchants can receive possible breaks on taxes and trading restrictions.
- Any Currency: Instabill’s European merchant accounts recognize more than 160 currencies.
- High Risk Merchant Account Solutions: Having begun as a payment processor for the online gaming and dating industries, Instabill has the acquiring banking partners to get approvals for high risk e-commerce businesses.
- Live Customer Support: Have a question for us? You’re a phone call or a click away from a free consultation. Reach us at 1-800-318-2713.
Need to Register in the UK or Europe?
For merchants that wish to register in the UK or Europe or obtain a European merchant account, Instabill has you covered. Instabill merchant account managers can align merchants with the best incorporation services available. For a free consultation, contact a merchant account expert directly at 1-800-318-2713.