Investors who are looking for a solution to diversify the payment options for their clients can set up a merchant account in Denmark
. This is a type of bank account that allows companies to accept and process payments made via a debit or a credit card.
The uses of a merchant account
The merchant account is used by companies in Denmark to allow for credit/debit card processing. This is a preferred solution for many types of businesses and it is the account of choice for online businesses.
The merchant account is set up between the business or seller, the bank where the company has set up this type of account and a third-party payment processor.
Merchant account solutions are suitable for small and large companies in Denmark
. The third-party processor will offer various additional services such as live processing gateways for payments and payment processing security.
How to set up a merchant account
Opening a merchant account in Denmark is a simple process and it is generally performed with the same bank where the Danish company already has a corporate account.
The company representative or administrator need to apply for opening this type of account. For this purpose, the bank may require a few documents such as the company’s Articles of Association and identification details for the applicant or company representative. The administration fees, the transaction fees and the minimum amount can vary according to the bank and the card payment processor.
This step may take place during the early company formation stages of after the investors decide to open a Danish company
, once they’ve determined that credit/debit card payments are needed for their business.
You can contact
our agents who specialize in Danish company formation
for more details on doing business in the country.