Simply visit PayLane's website (or PayLane for Startups) and create the account. The test account will allow you to test everything exactly the way it works – the only difference will be that you won't be able to make any actual payments.
For more information on our test account read: Test account in PayLane's system
The best way to avoid currency exchange charges is to know your customers. Being aware of where your customers come from or what type of customer you want to target is key. If most of your services are in Europe, it may be better to open an account in Euros; if your target customers are in the Unites States, then an account in USD may be best. However, you may want to offer both EUR and USD to your customers. In that case it is best for you to choose both of these as settlement currencies as well and provide PayLane with bank account numbers in EUR and USD. That way you avoid currency exchange during payouts. Otherwise, if you choose to process transactions in EUR and USD but give us only the EUR account number - it will be your bank that will exchange those different currencies into the main currency that your account is in.
A merchant account is a type of bank account opened by an acquiring bank (also called acquirer). It allows businesses to accept card payments and perform other card related operations (such as authorizations, refunds, resales, etc.).
Access to a merchant account is usually provided by a separate institution (payment gateway/provider). It can be considered "an interface" to a merchant account and usually provides a number of other payment services. Please note that merchants do not have direct access to merchant accounts - these are just meant to be used with card operations. Funds stored on a merchant account are paid out within specific time periods to a regular company account (as specified in an agreement with the merchant).
An acquiring bank (or acquirer) is an institution that opens and maintains merchant accounts for businesses willing to accept card payments. It exchanges funds with card holders' banks and pays out funds to the merchant on a basis specified by an appropriate agreement. An acquirer also accepts the risk that the merchant will remain solvent over time, which is why it takes a lot of interest in the merchant's business to determine the probability of refunds and positive account balance.
An issuing bank (or issuer) is a bank that offers card related services directly to consumers. It offers payment cards (e.g. credit cards as extensions of lines of credit), allowing consumers to pay for goods, and issues payments to acquiring banks on their behalf (hence the name).
Transaction descriptors are descriptions on card and bank statements that help your customers identify their purchases. In most cases, apart from the numbers that identify certain transactions, customers will also find the payment provider's name. Providing such information as product name, company name, or customer service number can help your customer reach you in case he does not recognize a transaction.
PayLane being a payment institution can receive deposits and make cash payments from a payment account, execute payment transactions, direct debits and credit transfers, and issue such payment tools like credit cards. As a Payment Institution, PayLane accepts merchants from across the whole SEPA (Single Euro Payments Area) region. However, we also offer services to merchants from other parts of the world with different models (e.g. PayPal, SOFORT, giropay, American Express, etc.).
The rolling reserve is a portion of the merchant's income that is kept for a certain amount of time as a fail-safe in case your business has too many refunds, chargebacks, or fails to send a product to the customer. For example, if you have too many refunds, you may be considered a "risky business". For example, an acquirer may have frozen 10% of the merchant's income in January and paid it out in July; the 10% frozen in February will be paid out in August, and so on.