Connecting to JCC Payments Processing
Our company provides services for connecting to the JCC Payment Systems Ltd electronic payment system. Registration of a Cypriot company, which is required for working with this processing, is offered with a 10% discount.
By connecting to JCC with our assistance, you will receive:
• Fast and professional connection procedure
• Minimisation of this payment system’s fees
• Opportunity to minimise the rolling reserve amount
• The most lenient chargeback penalties
• Fastest possible contract conclusion and system integration start
Because payment systems, similar to banks, are very particular about the choice of counterparties, each mistake leads to an increase in your financial expenses. To avoid mistakes and present your company in the most favourable light, we carry out the following activities:
1. Business compliance assessment against the processing’s benchmark requirements
2. Conducting preliminary due diligence and writing letters of recommendation
3. Writing a proper business plan in English
4. Creating a financial model that will not raise suspicions
5. Preparing “correct” documentation about the company’s activities
6. Consultations on bringing the website into compliance with the requirements
7. Drafting an offer agreement for the company’s website
8. Conducting correspondence and negotiations in business English on behalf of the company
9. Organisation of preparation, verification and conclusion of the contract
And also, if necessary:
10. Opening an offshore bank account for working with the processing
11. Registration of an offshore company specifically for working with this payment system
Services provided by JCC
• Opening an internet merchant account for credit card acquiring
• Support for popular card schemes: Visa, MasterCard, American Express, Diners
• Constant access to real-time transaction reports
• Availability of a Virtual Terminal for online account monitoring and management
• Compliance with all payment security standards (3-D Secure, PCI DSS, ISO 27001)
• Payment pages for integration with websites lacking confidence in their own security levels
• Possibility to set up your own billing server
• Instant withdrawal of funds to accounts in Cypriot banks
• Multi-currency processing
JCC offers its clients a special online payment service – “JCC Smart”. This is a convenient resource for any Cypriot company. By connecting to it, the company can accept payments to its account through the JCC Smart website, or through an extensive network of payment terminals. This scheme is most convenient when working on behalf of a company registered in Cyprus.
JCC Payment Systems was founded in 1989 and now provides processing of payments for Visa, MasterCard, American Express, Diners cards, as well as online payments on websites through the JCC payment gateway. 45% of the company’s shares are owned by Bank of Cyprus, 30% by Laiki Bank, the remaining shares are distributed among other major Cypriot banks (Hellenic Bank, National Bank of Greece, etc.) In 2007, JCC was certified by the International Organization for Standardization as the first Cypriot company to receive the ISO27001 security standard.
Information required to start the connection process:
1. Legal name of the company
2. Company website address
3. Official e-mail
4. Company phone number
5. Date of registration of the legal entity
6. Country of registration
7. Region of operation
8. Name of the bank where the corporate account is opened
9. Personal data of the contact person (plus country of residence, e-mail, telephone number and position in the company)
10. Description of the product or service being sold
11. Website address to which processing will be connected
12. Average amount of each transaction
13. Approximate monthly turnover
14. Sales statistics for the last year
If the company is just starting its business:
15. Business plan in English
16. Financial model using UK accounting terminology
17. Business owners’ dossier (with supporting documents)
18. Bank statements of the company and business owners
19. Other proof of seriousness of intentions
20. Any other documents at the discretion of the processor
In addition, all clients must “freeze” a certain amount in their account in case the processor has problems with their payments – this is a “security deposit”.
Website requirements:
• Website in English or availability of an English version
• Availability of a privacy policy agreement
• VISA and MasterCard logos
• JCC processing centre logo
• High-quality website implementation, code “validity”
• Clear indication of contacts, corporate data, phone number
• Absence of such products or services as: pharmaceuticals, pornography, online casinos
Our consultants will help you to meet the requirements for the content and quality of the company’s website.
The listed JCC requirements apply to all new clients. They are especially strict for young companies. Our specialists can significantly simplify the registration procedure for you and minimize its duration, the required set of documents and the amount of the security deposit.
Advantages and disadvantages of JCC
Advantages:
• Wide coverage of card payment systems. JCC accepts simple card types: Visa Electron and Maestro
• Possibility of quick withdrawal of funds to a Cypriot bank
• Receiving transaction information to your billing server online
• Implementation of payment mechanisms using the 3-D Secure protocol
• Use of Verified by Visa and MasterCard SecureCode security codes to protect payments
Disadvantages:
• Refusal to work with high-risk services and goods (online casinos, pharmaceuticals, dating services)
• Provision of services only to European companies
• Lack of outgoing payments
Our assistance in connecting to the JCC Payment Systems payment system will allow you to minimize financial costs and reduce connection time. If necessary, we will register a company for you in Cyprus and open a bank account in this jurisdiction. Contact us.