Miguel Sousa, Chief Business Development OfficerCommerceGate stands as a trusted ally for online merchants from high-risk industries like gambling, forex and iGaming, helping them navigate legal frameworks and increase authorization rates.
Licensed by the Bank of Spain and supervised by the European Central Bank, CommerceGate is a leading payment service provider that leverages the power of real-time financial transactions to optimize costs and maximize clients’ lifetime value. It has over 30 integrated acquirers and holds Payment Card Industry Data Security Standard (PCI DSS) level 1 compliance. Strong adherence to card scheme rules of both primary international card networks, Visa and MasterCard, have made it one of the few providers permitted to cater to high-brand risk merchants. Equipped with the right expertise and tools, it ensures every merchant meets the necessary monitoring and reporting requirements.
“We take immense pride in being recognized as a company that is whiter than white. Over 50 percent of our resources are engaged in handling risks and maintaining compliance,” says Miguel Sousa, chief business development officer at CommerceGate.
Its strategic decision to expand beyond European borders in 2021 led to the establishment of a thriving presence in Brazil. The company’s focus on equipping European customers with new jurisdictions for exploration enabled it to turn profitable within four months of operation. This strategic move resulted in a dynamic technological powerhouse capable of processing payments and providing cutting-edge solutions tailored to the intricate demands of the Brazilian market.
CommerceGate’s expansion into Brazil also unveiled a crucial need for advanced payment methods to address the absence of proper technology and risk management procedures in the market. To address this, the company makes the Brazilian Central Bank’s instant payment system—PIX—available for clients. It has also introduced unique solutions like Static PIX QR code for increasing CLTV up to 7 percent and PIX AML Solution/Tax-ID (CPF)-Lock. These features, combined with its state-of-the-art billing and reconciliation solutions, make CommerceGate stand out in the industry.
It actively invests in effective anti-money laundering and combats the financing of terrorism (AML/CFT) policies and measures to maintain the platform’s integrity. CommerceGate’s relentless commitment to improving the security of the solution helps clients remain compliant across every single jurisdiction, alleviating the stress of adhering to varying rules across diverse countries.
We take immense pride in being recognized as a company that is whiter than white. Over 50 percent of our resources are engaged in handling risks and maintaining compliance
To ensure every customer need is fulfilled, the company adopts a streamlined and adaptable onboarding process. Whether a large-scale enterprise or a small-scale online merchant, it offers a comprehensive suite of services to clients that get in touch through trade shows or directly through the website, always supported by its Customer Success Management team. After the initial level of due diligence, they are connected to its payment gateway through API. They test different payment methods in a sandbox environment supported by robust risk management and compliance protocols. The modes of payment vary from credit or debit cards to local alternative payment methods, depending on jurisdictions.
Following testing, CommerceGate ensures swift deployment, focusing on minimizing complexities and maximizing efficiency to enable clients to start processing payments within days. Its integration with multiple payment methods across different managed jurisdictions allows customers to access a single management platform with one billing system.
Planning to expand operations to other Latin American nations, including Colombia, Mexico and Argentina, the company aims to become the premier payment solutions provider across South America. It is set to realize its long-term goal of expanding to Africa in the coming years.
CommerceGate continues to embrace emerging technologies characterized by security, compliance, and scalability to enhance its platform’s capabilities further and empower businesses to thrive in an increasingly interconnected world.
