A friend of mine is trying to get an credit card merchant account so that a new business he is starting is able to accept credit card payments. The only slightly non-standard parts of it are that he would like to be able to keep forex receipts in the foreign currency to reduce the forex risks (some of his payments will be in USD) and that he would like to be able to do recurring billing.
Personally, I do not think either of these should be a difficult thing, but I have run out of suggestions and I do not work in the credit card area much these days.
If you can think of a way to do it, please either comment here with a suggestion (which I will forward on), or head over to Troppo where Jacques would be happy to hear from you.
By the sound of it he is now also prepared to consider going overseas to get such an account – incorporation in Delaware has been suggested. Any other ideas would be welcome.
If you want to sound off or empathise I think that he would also be happy to here those as well.
3 comments
14 April, 2009 at 19:09
Paul
I’d suggest paypal, they’re not the cheapest on a per transaction basis but should meet all the criteria and are pretty easy to get started with.
As far as I know with paypal you can: pay out to an Australian bank, keep funds in multiple currencies, and handle recurring subscriptions.
15 April, 2009 at 02:15
Andrew
Paul,
Thanks for that, but I understand he has looked into Paypal and found it does not work for him for several reasons. Looks like Delaware may be an option.
16 April, 2009 at 14:39
Jacques Chester
One of the requirements I didn’t talk about in the article linked above is integration (the API, in nerd terms). If you’re based in the US, Paypal offer a pretty useful API.
I am hoping to handle large numbers of small transactions. Unless there’s some way to automate as much of the process as possible, it’s not much good to me. Paypal fails on that front.
It’s really looking like a toss up between NAB and Delaware at the moment.