merchant account for online services

TheHun · #1 05-09-2009, 08:52 PM

I'm thinking about to set up an online store targeting DR consumers. It can not be exist without the usual shopping cart and online credit card processing.
Here is the problem, when I talked to my CardNet rep (I do take credit cards in my business in a regular way) she said those services are not really available in the DR. WTH???
She was not really clear about it.
I wonder if anyone has an online store set up in the DR who could give me some info / advice?
To set up an online store, or to get into online credit card processing is an easy step in the US or EU.
I can't believe it's not available here.
PayPal would be an option, however PP is not a banking institute, therefor your money isn't secured. They can hold your $ and there is not much you can do about it, since banking laws won't regulate them. They have their own rules and that's it.
Please, if you know any online store based in the DR who takes CC trough their website, or have any other info about web based CC processing, please let me know!
Thank you!

The Hun

MikeFisher · #2 05-09-2009, 09:41 PM

would not know of one til now.
i have for my own business for the credit card processing visanet dominicana and cardnet, requested since a long time from both what you are asking for, and it's still a negative.
on the other hand, even with the known negatives on PayPal, i use it since years and never had a problem, been under invest for money laundering once due to a big raise in the monthly movements/transactions, took just 4 days providing my dominican company papers and tax statements and since then all is fine.
on the other side i turned lately to the point animating customers to more cash, away from the credit cards, much 'easier', lol.
but if someone has such system here i would of course be interested to get the info, too.
Mike

TheHun · #3 05-09-2009, 11:12 PM

Mike,
I'll let you know if I figure out more.
I was thinking to use a US merchant service, but I don't know if that would work, since the business based here. Maybe if the server is in the US, but than I guess I have to file taxes there also.
An other problem is they will convert peso to dollar ad charge a lot
for the exchange, later I have to convert it back to pesos, just way too much loss.. So I just damped this idea.
I guess I have to stuck with PayPal.
Do you have many dominican customer who choose PP to pay for your services?
Thanks for your response.
The Hun

daydream · #4 05-09-2009, 11:25 PM

Quote:

Originally Posted by TheHun

Please, if you know any online store based in the DR who takes CC trough their website, or have any other info about web based CC processing, please let me know!
Thank you!

The Hun

I believe you can pay by credit card on the mandale website www.mandale.com.do

See FAQ http://www.mandale.com.do/mandale/ayuda.aspx

TheHun · #5 05-10-2009, 12:38 AM

Quote:

Originally Posted by daydream

I believe you can pay by credit card on the mandale website www.mandale.com.do

See FAQ Mandale

Thanks a lot!
It's a good lead. I'll investigate.

The Hun

MikeFisher · #6 05-10-2009, 12:40 AM

no Hun,
my very most customers come from the outside, the dominican regulars of mine are anyways cash clients to get their 'best rate'.
my latest notice about the american merchant accounts(it was last summer when i checked for the last time) been that you need an american business bank account to do so, in such case of course US taxes would apply.
i used for 3 years a swedish provider which sorrily closed it's doors 2 years ago, they comfortably paid the incoming money on my dominican dollar account, so for me with mostly american and canadian clients that been very convenient in case of exchange rates.
currency exchange rates and transfer fees can really suck, that's right, i saw that this month again running the german big game championship here at the Marina, of course all participants are germans with german euro accounts, and of course they used the transfer fee free option to pay all to my german bank account, so the transfer fees and also exchange rates over here to my dollar account been a factor, i've been lucky that the euro strengthened a good bit during the process so i could cover the transfer fees, could also have been the opposite, been just luck.
but to see how much less the euro is worth here compared to it's real value against the dollar it was not worth to send the money on a dominican euros account and exchange in pesos then.
an other option for good exchanged transfers would be to use a american account with a debit card to it, so you can take the PayPal money to there for free and use the money with the debit card here everywhere in shops or take it out of ATM's for a good exchange rate without transfer fees, but such is of course only useful as long as you don't plan to move larger amounts of money that way.
i would happily install a merchant on my website which gives me the possibility to get that money transfered/credited on my dominican pesos or better dollar account.
i could imagine that on such way a good bunch of taxes would also come in the gubmin's pocket, what we get by credit cards runs automatically throu DGII and shows up on our monthly tax statements and the local banks would get much more money to move.
Mike

Robert · #7 05-10-2009, 03:59 AM

Forget CardNet or VisaNet for online processing here, they are a pain.
Their API's are hard to work with and they are really not set up to do online processing. Plus their rates are ridiculous.

The only half decent option in the DR is done by a Colombian company. Soluciones de Recaudo Electronico, pagos en línea en Colombia y Republica Dominicana | eCollect, Recaudos, PSE Colombia, Visa, Mastercard, Amex, Credencial, Diners, VisaNet, CardNet |

If your serious about processing, then you need to do it out of the USA.
The rates are much better and they understand what "online" means.

MikeFisher · #8 05-10-2009, 01:02 PM

howdy Robert,
will check your link out right now.
keep the info coming guys, i can imagine that TheHun and myself are by far not the only businessmen on the Isle who want to raise their online sales.
you are right about running such processing out of the USA,
but if you do not have a american company,
if you are not even an american citizen but work 95% with american and canadian customers like i do myself,
what solution would you recommend?

every lil hint appreciated
Mike

MikeFisher · #9 05-10-2009, 01:33 PM

again Robert,
thanks a lot for that interesting link,
i never before heard about that company.
been reading throu their page and a few minutes ago i dropped them a mail to request detailled info specifically for my kind of business.
when i get an answer back i will post the results/experience right here.
enjoy this lovely sunday
Mike

TheHun · #10 05-10-2009, 02:50 PM

Quote:

Originally Posted by daydream

I believe you can pay by credit card on the mandale website www.mandale.com.do

See FAQ Mandale

Robert,
Great info!

I will check them out Monday.
As Mike said, there must be others who needs this info also.

Mike,
If I remember correctly, you have a fishing charter business?
Could you send me a link to your website, please?
Thanks!
The Hun