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Thread: Credit card processing for Jamaican business

  1. #11
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    Quote Originally Posted by carey View Post
    Was listening to an amateur economist ascribe the black market as much as what you said above. That Jamaica's authorities has crippled our black market, which, in turn, stifles innovation and efficiency. Could someone explain this theory?

    Also, what do you think of that movement in the USA of $15 minimum wage? Why are so many of the working class against it?

    What if Jamaica joined the basic wage experiment? <(did we have this discussion already?)
    Governments don't like black markets. It reduces tax income. I think the reduction of how much cash you are allowed to use in transactions/debitcards/banktransfets/fees might be a crippling factor.

    As per minimum wage and basic income you might need to start a different thread about that topic.

  2. #12
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    Quote Originally Posted by owen View Post
    Governments don't like black markets. It reduces tax income. I think the reduction of how much cash you are allowed to use in transactions/debitcards/banktransfets/fees might be a crippling factor.

    As per minimum wage and basic income you might need to start a different thread about that topic.
    I don't think he wants to use for blackmarket.
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  3. #13
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    Differently though, the online banking system as it relates to 3rd party access in Jamaica is ridiculous. I recently and in the past, have built travel booking sites for local clients who want their foreign clients to be able to pay online via credit cards. However for them to go through a local bank involves bending over backwards while assuming some complicated origami style bending. The amount of things you have to go through just because banks start with the assumption that, if you want to do business with them you must a criminal.

    To open a bank account, they'll soon ask you for stamped letters from a JP, a doctor, the police, the Father, the Son and the Holy Ghost... depending on your skin shade.

    Anyway, it is easier to just created a PayPal account, confirm it with a credit card and begin using the API. Plus it is a helleva lot cheaper for processing fee as compared to the ransom local banks will charge.

    Its rough being a citizen of this country.
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    PayPal is easy cheesy, but the turn-around time to receive payments really is a pain... of-course there are a few work-arounds which all have direct and indirect disadvantages.
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    Quote Originally Posted by GPRS Internet View Post
    PayPal is easy cheesy, but the turn-around time to receive payments really is a pain... of-course there are a few work-arounds which all have direct and indirect disadvantages.
    As things are right now, it is the only viable option to accept credit card payments online in Jamaica, esp., for small businesses.

    BTW... what percentage of the total transaction does NCB/Scotia charge for processing fees and such, for the CC terminal or online access?
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    Quote Originally Posted by gW33Zy View Post
    As things are right now, it is the only viable option to accept credit card payments online in Jamaica, esp., for small businesses.

    BTW... what percentage of the total transaction does NCB/Scotia charge for processing fees and such, for the CC terminal or online access?
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  7. #17
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    I think PayPal will come on board once they see allot or a fair amount of online Jamaican Merchant sites using their API... but as it is now we are just a bug on a very big windscreen.

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    Owen, where's my last post?

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    Quote Originally Posted by Daveyon View Post
    Owen, where's my last post?
    The one that you deleted?
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    Today, 04:39 AM
    Daveyon
    This message has been deleted by Daveyon.

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