subject: A Kickass Payment Processor For Caribbean Businesses [print this page] A Kickass Payment Processor For Caribbean Businesses
You Cannot Sell Online If You Have No Mechanism To Collect Payments
One of the biggest challenge for small businesses online in the Trinidad and Tobago and in fact the Caribbean is access to a global merchant account.
This is usually the case with most developing countries. The technology is available but until there is a synergy between merchant account providers and local financial institutions the situation will remain the same. But there are alternatives.
Paypal is by far the most recognized payment platform available to merchants globally. Unfortunately, their primary target markets are the United States, Canada the UK and to some extent Europe.
Services are limited and vary from one developing country to another, in some countries the service is simply not available. For example, in some countries Paypal can only be used to send funds or merchants are allowed a small limit on of funds they can receive. Funds are restricted to USD so merchants are compelled to use that currency. These features limits the merchants' ability to transact business online.
There is another option, although not perfect but proven viable for many entrepreneurs in developing countries. It is simple to use and does not require a long involved application process. It's available in all the major continents, Africa, Asia, Europe, Canada, US and South America including the Caribbean.
Here is a screen shot of some of the countries covered in this region. the check marks are the services they offer to each location.
Alert pay has been online for a few years now and has established its reputation for reliability. They are giving PayPal's a run for the money by providing service to over 190 plus countries with 21 currencies including almost every island in the Caribbean.
Send and receive funds in your own currency or any other supported currency for a 2.5% spread over the exchange rate. Here are some of the benefits of having access to multi-currency online payment platform;
Exchange currency from your home or office without ever having to fax or mail a form.
Inexpensive compared to other alternatives
Conveniently accessed from anywhere in the world
More currencies supported than Paypal.
Receive international payments in your local currency.
You can use it to shop online, send remittances, pay bills, exchange currencies it accepts deposits in your primary currency to another of your choice. Note: always check the currency rate before using the online converter to ensure that it is updated.
Here are three downsides of using Alert Pay:
1. You are charged per transaction, i.e. the 2.5% spread that means for every $100 in any currency the fee will be $2.50.
2. It does not provide a shopping cart meaning that it is not possible to purchase multiple items at the same time. Although they have promised to develop one in the near future it does limit multiple item purchases.
3. Depending on the method you use to withdraw your funds there is a wait time that may range from 2 5 days. What this means is that spontaneous withdrawals are not possible.
The sweetest incentive for joining Alert Pay is FREE and easy to use.
For and individuals Alert Pay provides a viable alternative if you are not selling multiple items. But it can still be used as an alternative because of the ease of use and ability to accept multiple currencies.
If you are looking for a payment processor go over to Alert Pay and take a look around, it may the solution to start getting and sending payments online.
