Things to Know about Online Payment Processing in the Caribbean

Given the soaring numbers in e-commerce, business owners in the Caribbean must give serious thought to offering their products and services online to reach a larger number of customers. The Enterprise Guide to Global Commerce estimates that e-commerce sales globally will reach $4.5 trillion by 2021. To put things in perspective, e-commerce sales were just $1.3 trillion in 2014. As more people get access and are comfortable with shopping online, e-commerce sales should continue to go up.

This means having an integrated online presence that enables customers and guests to pay for goods and services using their credit or debit card an absolute must. However, because there are many rules, challenges, and options out there, it may take some time to find the best payment gateway for your credit card processing needs. We wanted to address some of these rules and challenges and explain why local Caribbean businesses choose First Atlantic Commerce as their online payment processing partner.

The first thing every business owner must know is that in order to get a merchant account for online credit card processing, the business must be physically present in the country where they apply. This is the case for every country in the Caribbean, although each country will have different rules and regulations regarding set up, so it might be a good idea to speak with an accountant or attorney to assist you.

Advantages of Using First Atlantic Commerce’s International Merchant Account Services

At First Atlantic Commerce, we can help you get your international merchant account, so you can accept credit card payments online and maximize your revenue. Caribbean businesses choose us because of our decades of experience and custom online payment solutions. Our international merchant services feature daily settlement to U.S. dollars and/or the currency of the country in which your business is located in the Caribbean. We provide direct international merchant accounts with relationships to established and reputable banks through our extensive presence and status in the region.

Additionally, we offer online credit card processing of the most popular credit cards, including Visa, MasterCard, Discover, and American Express. Customers have the option of real-time, manual, or batch processing. Our platform also features sophisticated online fraud protection through Kount, pre-authentication solutions, tokenization, and more to prevent chargebacks and ensure your customers’ data remains safe. If you are a Caribbean business owner considering your online credit card processing options, we encourage you to choose us as your payment gateway.