Bambora Payments Gateway (formerly Beanstream)
Founded in 2015, Bambora is a collection of companies with decades of experience in the payments industry. Now a global presence, with over 600 employees in 64 markets, Bambora processes over $47 billion per year.
Bambora North America is responsible for processing 30% of all ecommerce in Canada and has equally ambitious goals for the US market. In addition, Bambora helps all businesses grow, with simple and secure payment tools.
Some Often Asked Questions About Bambora
I have never taken credit card payments before. How does it work?
First, you need an ecommerce merchant account that is connected to a payment gateway. Bambora offers both.
- A payment gateway is the tech layer that links your customer’s bank to your bank when processing a payment. It also stores and validates your customers’ card details and available funds.
- A merchant account is where settlement takes place. Once the funds have cleared, they are deposited into your bank account. In addition, you can’t process ecommerce credit
card payments through your retail merchant account.
What is a Bambora?
First launched in 2015, we are a company with decades of experience in the payments industry. And we’re focused on helping you grow online, offering simple payment tools with powerful abilities.
How long does it take to receive my payment after a customer pays?
It depends on many things – including the type of business you are in. There is a 3 business day lag on a daily settlement. This also means if a customer buys something on a
Tuesday, you will receive the funds in your business bank account that Friday.
If I have a business located outside of North America, can I open a merchant account?
No. To qualify, you must have a business located in Canada or the United States.
Which currency can I settle in?
You can settle in Canadian dollars, also US dollars.