Forex Brokers Payment Gateway
We Are Virtual Pay
Virtual Pay is a leading Pan-African Payment Service Provider, the fastest-growing in Europe, The Middle East, and Africa. We support businesses to receive digital payments simply, securely, and seamlessly through our various payment solutions across the globe.
Our advanced technology and robust infrastructure ensure that transactions are processed quickly and accurately, with low latency and high availability. With Virtual Pay, merchants can accept payments from all major card schemes, issue customized cards to customers, and offer mobile money processing for added convenience.
We offer the best Payment Processing Services, in Payment solutions such as: Card Acquiring, Card Issuing, Mobile Money
We work with major card schemes like Visa and Mastercard, allowing your customers/clients to make safe payments globally.
Payment Service Providers in the Forex industry
A payment service provider (PSP) is a financial institution that enables Forex merchants and brokers to process electronic payments. PSPs serve as intermediaries between the trader and the broker, processing transactions and guaranteeing the secure and efficient transfer of funds.
PSPs provide a variety of services, such as the ability to receive deposits from traders, process withdrawals, and facilitate currency transactions. They also provide tools for fraud prevention and chargeback management, which are essential for safeguarding traders and intermediaries against fraudulent activity.
PSPs in the Forex industry must adhere to stringent regulations, such as anti-money laundering (AML) and know-your-customer (KYC) regulations, to prevent the use in unlawful activities.
The Forex Industry
Forex trading, also known as currency trading, is the purchasing and selling of currencies on the global financial market.
The objective of forex trading is to profit from fluctuations in the exchange rates between currency pairings. The exchange rate is the value of one currency relative to another, and it is influenced by a variety of economic and political events, interest rates, and market sentiment.
Traders on the forex market typically access the market and execute trades through a trading platform provided by a forex broker. They can trade numerous currency pairs, including majors such as EUR/USD, GBP/USD, and USD/JPY, as well as minor and esoteric pairs.
Forex trading entails a high degree of risk, and traders must prudently manage this risk to avoid substantial losses. To accomplish this, traders utilize a variety of tools, such as stop-loss orders, which terminate a position automatically if the market moves against them beyond a certain threshold. They may also employ leverage, which enables them to control a larger market position with less capital.
Technical analysis, fundamental analysis, and sentiment analysis are all frequently used by successful forex traders to analyze the market and identify potential trading opportunities.
Importance of payment service providers in Forex trading
PSPs ensure that funds are transmitted between traders and brokers in a secure and efficient manner. They use sophisticated encryption technologies to safeguard the sensitive financial data of the parties involved in the transactions.
In the Forex market, traders from all over the world trade in multiple currencies. PSPs offer the capacity to accept deposits in multiple currencies, process withdrawals, and facilitate transactions in different currencies. They convert the funds to the desired currency, making it simpler for traders to deposit and withdraw funds in their preferred currency.
PSPs provide tools for fraud prevention and chargeback management, which are essential for safeguarding traders and brokers against fraudulent activity. They monitor transactions for suspicious activity, verify the identities of users, and take the necessary precautions to prevent fraudulent transactions. PSPs handle the chargeback procedure on behalf of the broker and return the funds to the trader’s account in the event of a chargeback.
PSPs in the Forex market must adhere to stringent regulations, such as anti-money laundering (AML) and know-your-customer (KYC) rules, to prevent their services from being used for illicit activities. Compliance with these regulations is essential for maintaining the financial system’s integrity and protecting traders and brokers from fraudulent activities.
Licensed and Unlicensed Forex Brokers
Licensed Forex Brokers
A licensed forex broker is a financial institution or individual authorized and regulated by the government to offer forex trading services to customers.
To obtain a license, forex brokers must adhere to the requirements and standards established by the regulatory agency in their respective jurisdictions. Among these criteria may be financial stability, transparency, client protection, and anti-money laundering measures.
A licensed forex broker typically provides access to trading platforms, educational materials, market analysis, and customer service. By working with a licensed forex broker, traders can rest assured that their funds are being held in a secure, regulated environment and that they are receiving fair, transparent pricing on their transactions.
Unlicensed Forex Brokers
An unregulated forex broker is a financial institution or individual that provides forex trading services to customers without government authorization or oversight.
Unlicensed forex brokers frequently operate in jurisdictions with weak or nonexistent regulatory supervision, and they may offer trading services that are not subject to the same transparency and accountability standards as authorized brokers. Unlicensed brokers may engage in fraudulent behavior such as misrepresenting trading conditions, manipulating prices, or neglecting to process withdrawals.
Our Forex Payment Solutions
Card Collections And Payouts
Virtual Pay facilitates online payment collections and payouts through credit and debit cards. This service allows Forex Brokers to accept payments from their customers securely and seamlessly, as well as make payouts to their customers.
Mobile Money Collections And Payouts
With Virtual Pay, your customers can pay conveniently using just their mobile phones. Let customers choose from the wide range of mobile money payment options available on our platform.
Security and Safety
We use encryption technology to safeguard sensitive data, such as credit card numbers and personal information, during internet transmission. This aids in preventing data interception and unauthorized access.
Tokenization is the process of replacing sensitive data with a unique identifier, or “token,” which is then used in lieu of the actual data in transactions. This reduces the risk of sensitive data exposure and makes it harder for hackers to intercept and use the data.
Two-factor authentication is a security measure that requires users to provide two forms of identification to access their account, such as a password and a one-time code sent to their mobile device. This provides an additional layer of protection against unauthorized account access.
Monitoring transactions and identifying suspicious activity in real-time using sophisticated fraud detection and prevention tools. These instruments can aid in the prevention of fraudulent transactions and client financial losses.
To ensure the security and privacy of payment data, we have complied with numerous industry standards, such as PCI DSS (Payment Card Industry Data Security Standard). Independent third-party auditors regularly examine compliance with these standards to ensure continued adherence to security best practices.
Integration and Support
With our extensive selection of solutions, we are certain to meet your payment requirements. We offer direct API integration to PCI DSS-certified customers, allowing them to collect card payments in both local and foreign currencies. If you are not certified, we provide:
Host our checkout page in your system without any redirection or change in the outlook of your system.
Avoid the inconvenience of collecting the KYC and Financial information of your clients. Our Payment Link Solution redirects clients to our checkout page, allowing you to conserve system resources.
Our self-sufficient WordPress extension runs on Woo Commerce using your preferred WordPress E-Commerce tools.