Payment gateway and card processing for precious metals and bullion dealers with a Mauritius company

We arrange gateway and card processing facilities for Mauritius-domiciled bullion dealers by preparing the business for review by acquirers and payment services providers (PSPs). First, we analyse your existing or proposed checkout flow, target markets, and desired payment methods, distinguishing between card payments and alternative payment methods (APMs) like bank transfers.

Based on this analysis, we identify the most suitable type of gateway. This could be a gateway that works with the specific acquirers your Mauritius GBC can access, or a PSP that bundles acquiring and gateway services. We define the integration scope (e.g., hosted payment page, API), the implementation of 3-D Secure to mitigate fraud, and the setup of other anti-fraud tools. We then compile the onboarding file for submission to the selected providers. Finally, we coordinate the technical go-live and help plan payment routing to ensure that if one transaction path fails, others are available, providing resilience for your payment infrastructure.

Underwriters assessing a precious metals dealer focus on five key areas. First, they scrutinise your transaction sources and marketing. They need to see that you are not making speculative claims or presenting metals as a short-term investment. All marketing must be transparent and compliant.

Second is your anti-money laundering (AML) and know-your-customer (KYC) programme. For a Mauritius GBC, this means having a documented AML policy that meets international standards, showing how you verify customer identity and screen for politically exposed persons (PEPs).

Third, they review supplier and refinery contracts to confirm the legitimate origin of the bullion. We will not introduce businesses that cannot provide clear, verifiable sourcing for their metals. Fourth, given the high transaction values, your fraud controls are critical. Underwriters expect to see mandatory 3-D Secure 2 (3DS2) on all card transactions. Finally, they will check your proposed transaction descriptors to ensure they are clear for customers and reduce the risk of chargebacks from non-recognition.

Using a Mauritius Global Business Company (GBC) for bullion dealing has specific implications for payments. The Financial Services Commission (FSC) regulates GBCs, which must be administered by a local licensed management company. This structure provides a credible corporate framework that payment providers recognise.

A GBC must demonstrate economic substance in Mauritius, which includes having at least two resident directors, managing the company from Mauritius, and maintaining a local bank account. These substance requirements strengthen the company's legitimacy in the eyes of acquirers, showing it is not merely a shell company. Local management companies often assist in opening these initial local bank accounts, which typically support USD, EUR, and MUR, aligning well with international sales and operational expenses.

Compared to a standard UK Ltd, a Mauritius GBC is often perceived by non-UK acquirers as being more intentionally structured for international trade, particularly for flows involving Africa and Asia. The GBC's audited accounts must be filed with the FSC, adding a layer of financial transparency that underwriters value.

Gateway and processing applications for bullion dealers are often declined due to the industry's risk profile, but specific file weaknesses are usually the cause. A primary reason is an inadequate AML policy. If the business cannot demonstrate how it prevents money laundering and verifies high-value transactions, providers will decline the file immediately. We address this by ensuring your AML policy is comprehensive and properly documented before any submission is made.

Another frequent issue is undisclosed or unverified sourcing. Acquirers must be certain that the metals are not from conflict zones or illicit sources. We work with you to present clear contracts with reputable refineries and suppliers. Vague or missing supplier information is a common red flag that leads to rejection.

Finally, weak fraud controls are a non-starter. Given the cash-like nature and high ticket sizes of bullion, the risk of fraudulent transactions is significant. Applications that do not mandate 3DS2 or lack other velocity checks and fraud scoring tools are considered too risky. Our process ensures these controls are defined and highlighted in the application, presenting a business that understands and mitigates its own risk profile.

For a Mauritius-based bullion dealer, arranging a payment gateway typically takes one to four weeks once the underlying acquiring facility is secured. The process begins with our preparation of the onboarding file, which collates all necessary corporate, compliance, and operational documents. This preparation phase is crucial for a smooth underwriting process.

Once the file is submitted, the provider's compliance and underwriting teams review the application. For a Mauritius GBC, they will verify the GBC licence with the FSC and confirm the role of the management company. They may have specific questions regarding your AML controls or supplier relationships, which we help answer promptly.

After approval, technical integration begins. We coordinate with your developers and the gateway's support team to ensure a seamless go-live. To stay live, it is vital to maintain the compliance standards presented in your application. This includes proactively managing chargebacks, keeping your AML and KYC procedures updated, and notifying your provider of any significant changes to your business model, such as adding new product types or targeting new countries. Consistent compliance is the key to a stable, long-term processing relationship.