Credit card processing for Jamaican business

[pezz]

The idea of not paying taxes has never been expressed or insinuated in any of the posts in this thread. What everyone so far, with the exception of yourself, has been saying is that the technical and bureaucratic difficulties of handling credit card payments in Jamaica are exceptionally difficult.

It doesn't have to be expressed our insinuated. Many person who operate via PayPal don't pay taxes from income via PayPal.

So it's a valid question. You and sumo seem hurt about something. Guilty?

[GPRS Internet]

If you run allot of PayPal traffic through your US bank account you will be required to pay tax..
2Checkout use to work in Jamaica, but for some reason Jamaica is not supported anymore...

[DarkAngel]

For anyone still looking into this I would strongly advise you to go the PayPal route or even register a US business and use Stripe before considering approaching NCB or BNS. The Plug n Pay API that they both use isn't difficult to integrate but their approach/requirements just don't make sense for small businesses. If you still feel up for the task, make sure you have all your business docs including company incorporation and tax documents ready. Also be ready for security audits for your code and some other stupid ****.

Good explanation, what other requirements are there that business must fulfill and the money these banks charge per transaction or otherwise. Also isn't there still an issue with getting money out of PayPal?

[GPRS Internet]

If you request a Cheque from PayPal it will take 2-3 Weeks to Get to you...
It will be a Bank of America cheque, it will take 1 month to clear when you deposit it locally. (You cannot cash it)

I have done the above various times.. What you can do is setup a US bank account and send all your PayPal funds there then withdraw it with a prepaid card.

You can also if you have a friend who was in the past able to link their PayPal to a Payoneer card, send them PayPal funds and they will be able to pull it off via Payoneer.

[DarkAngel]

If you request a Cheque from PayPal it will take 2-3 Weeks to Get to you...
It will be a Bank of America cheque, it will take 1 month to clear when you deposit it locally. (You cannot cash it)

I have done the above various times.. What you can do is setup a US bank account and send all your PayPal funds there then withdraw it with a prepaid card.

You can also if you have a friend who was in the past able to link their PayPal to a Payoneer card, send them PayPal funds and they will be able to pull it off via Payoneer.

Thanks Is the per transaction fee still 2%, also is there a fee charged by PayPal to prepare cheque and what is the minimum amount you most have in your paypal account to request a cheque payout?

[DarkAngel]

Has anyone explored the use of the bank's online bill payment portal? Shoppers can make payment directly from their ncb or Scotia account? Limited yes, but I've seen that option used locally a few years ago, as a payment option on a pc parts website.

[GPRS Internet]

Thanks Is the per transaction fee still 2%, also is there a fee charged by PayPal to prepare cheque and what is the minimum amount you most have in your paypal account to request a cheque payout?

All PayPal fees here --> https://www.paypal.com/webapps/mpp/paypal-fees
Merchant fees here --> https://www.paypal.com/jm/webapps/mpp/merchant-fees
They charge $5.00 to request a cheque.. Once you have over $5 you can request a check..

Has anyone explored the use of the bank's online bill payment portal? Shoppers can make payment directly from their ncb or Scotia account? Limited yes, but I've seen that option used locally a few years ago, as a payment option on a pc parts website.

That has allot of fees associated as well.. and it's not a convenient or easy as having a direct payment gateway on your site...
It's more recommended for merchants who want to collect monthly payments.. I wouldn't recommend it for a Buy/Sell Merchant site..

[DarkAngel]

Good explanation, what other requirements are there that business must fulfill and the money these banks charge per transaction or otherwise.

Any update on the above? I really need to explore this some more as I am getting a lot of clients requesting online payment.
GPRS have you started the work on the Scotia gateway yet?
Daveyon Got your questions answered by the bank yet?

[techmenace]

The Jamaican banking system is a disgusting joke.

[Daveyon]

I'm bringing up an old post, sorry. What would it take for the "average Joe" to open up a Bank in Jamaica (not a bank account), the actual Bank itself? What's the process?