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Internet Merchant Accounts are designed to facilitate credit card transactions over the internet. If you operate an online business and do e-commerce, we have the perfect solution for you to minimize your taxes, obtain privacy, and avoid all of the burdensome rules and regulations surrounding online e-commerce in your domestic country.
Establishing a tax free offshore internet e-commerce business involves three simple steps:
1. Incorporate a tax free Panama corporation through our special offer. Our fee for set up is US$1000.
2. Establish a bank account where the proceeds of your online credit card transactions can be deposited into. Our fee for set up is US$700.
3. Establish an online internet merchant account. Our fee for account processing and introduction US$1500 + Merchant Providers set up fee is US$400.
Total fees for establishing your e-commerce business:
Only US$3600 + courier fee of US$50 = Total US$3650.
Internet Merchant Account Processors:
Merchant account processing services are provided by a bank or a third party processor to the merchant. These services include authorization of credit cards, settlement of funds through the bankcard associations (MasterCard, Visa, etc.), depositing of funds into checking accounts, merchant billing, and account activity reporting.
We currently deal with several merchant account processors. The one we recommend for you will depend on your particular business model. Please note that most merchant providers do not accept certain types of high risk businesses, such as online gambling, betting, porn, or sales of addictive substances. However, we have relationships with several merchant processors, so if one particular processor does not accept your business model, then we have others who will (although the set up and processing costs may be slightly higher for high risk credit card processing).
Standard Merchant Account Fees & Details:
I. Merchant Account Set Up Fees:
a. Account Processing & Introduction Fee: US$1500
b. Merchant Processor Set Up Fee: US$400
II. Ongoing Merchant Account Related Fees
a. Merchant Fees:
Multi-Currency
Transactions = 4.5% Merchant Service Charge
USD to USD Transactions = 2.59% Merchant Service Charge
b. Per Transaction Fees:
US$0.35
per credit card transaction
US$0.75 per debit card transaction
c. Charge-backs:
For every charge back, the fee is US$20.
d. Administrative Fees:
Statement Fees: US$25 per month
Store Building Software (optional): US$50 per month.
III. Cards & Currencies:
Our Merchant Processor can process all of the major International credit and debit cards, including:
Visa
MasterCard
American Express
Diners Club
Switch
Delta
Eurocard
JCB
Our Merchant Processor can settle funds due to merchants' bank accounts in any of 13 currencies to any bank worldwide using the SWIFT payment system. The following is a list of the currencies that transactions can be settled in:
Australian
Dollar
Canadian Dollar
Euro
Finnish Markka
Hong Kong Dollar
Irish Punt
Japanese Yen
Norwegian Krone
New Zealand Dollar
Singapore Dollar
South African Rand
Great British Pound
US Dollar