Verotel is an internet payment service provider that is best for high-risk business owners who operate and accept payments online. Its features include a monitoring tool, automatic customer login generation, weekly payouts, global payments and multi-currency support, US check support, and affiliate marketing. Annual registration fees start at €500 (approx. $563.75) plus 15.5% per transaction.
Verotel Pros and Cons
Flexible billing options
Lacks user education tools
Regular weekly payouts
Higher than normal transaction fees
Who Verotel Is Best For
- High-risk online merchants: If you are a high-risk merchant that sells digital products and services, then you may benefit from Verotel’s multi-country and PCI-compliant solutions. In addition, because of its Payment Institution status, your money is kept secure in a third-party escrow account that is subject to European governmental regulations.
Verotel’s pricing page shows two plans with rates that start at an annual registration fee of €500 (approx. $563.75*) plus 15.5% per single transaction (or interchange + 1.5% per recurring transaction). The plans have different minimum revenue requirements and implement either fixed or variable transaction rates.
Interchange + 1.5%
Interchange + 1.5%
*Conversions to US dollars are based on the current exchange rate when this article was written (July 9, 2020).
This plan accepts high-risk merchants worldwide and offers phone and email support for affiliate marketing, customizable order pages, Verotel FlexPay API, your customers, and your own descriptor. You are not required to process a specific amount every week.
Beyond the basic features, this option provides you with webcam billing, multi-currency support, and there’s a weekly processing requirement of €100 (approx. $112.66). You are also required to pay €25 per week (approx. $28.18) if your weekly volume comes up less than €1,000 (approx. $1,127.05).
Verotel Alternatives 2020
The software provides variable payment solutions to high-risk online merchants. Let’s take a look at some of Verotel’s features below.
Verotel Control Center: A single dashboard where you can review your sales and manage all your accounts.
Flexible billing options: Aside from subscription options, Verotel also offers FlexPay, which provides you with innovative ways of billing—especially for those who charge for content, operate cam sites, and other token-based systems.
Automatic customer login generation: With Verotel’s remote user management (RUM) software, you can automatically generate usernames and passwords for new customers.
Affiliate marketing: The provider uses its OpenAffiliate program to generate traffic and increase revenue by getting other websites to advertise your services and content.
Multi-currency support: You can accept payments in various currencies, such as USD, CAD, AUD, GBP, NOK, DKK, SEK, and CHF. However, you can only receive merchant revenues in USD, EUR, or GBP.
Data security: The system is fully PCI and DSS-compliant, encrypted with SSL technology, and licensed as an official Payment Institute by Dutch Central Bank.
Summary of Verotel Reviews
As of this article’s writing, there are no up-to-date Verotel reviews available online. If you are a past or current Verotel customer, then leave a review to help those who are deciding whether or not to use the product.
Verotel Frequently Asked Questions (FAQs)
Which third-party applications does Verotel integrate with?
Aside from its built-in integrations with other Verotel products, the provider integrates with PayPal.
What payment options do Verotel users have?
Verotel enables you to accept Mastercard, Visa, Discover, JCB, Diners Club, U.S. checks, international checks, wire transfers, and ACH payments.
Does Verotel offer user training programs?
There are no details about user training and education available on Verotel’s website. However, it has dedicated support channels for the US, the E.U., and the Netherlands.
Our Top Payment Gateway Picks
If you aren’t sure if Verotel is right for you, then this article on the best payment gateways is a review of our top choices. Our team looked at a variety of solutions and narrowed our recommendations down based on the fees, security, ease of use and set up, sales channel served, and features such as timely payouts among others.