Panama and a Merchant Account
Posted in Uncategorized on December 8th, 2008Tags: banking, e-commerce, merchant account, Panama
Well, as any of you who have visited the frontpage, the main purpose of the website is to offer blinds in the still-hot, recession-proof market of Panama. Yes, Chavez pissing off any Venezuelan with money, being a major trade hub and a 5.2 billion canal expansion project will do that. Ain’t it sweet?
Anyways, due to the dreary politics of international banking in which Panama acts as a safe haven for people wanting to keep their money anonymous and safe and that the United States simply doesn’t like it when anyone messes with their dominance in “their” hemisphere- or that anyone dare challenge Miami as the trade or financial capital of Latin America…. Panama has found itself on somewhat of a banking blacklist. Typical fare.
What does this mean to web shop owners who want to do business with bank accounts here? Nobody wants to or can do business with you. Not sure which of the two it is, to be honest.
Persianamania currently works by making appointments and doing in person transactions, direct bank transfers and lastly we have a relationship with the well-known 2CheckOut where they are an actual reseller of our product and the payment is done between the customer and 2CO directly, at the exact same price they’d get in person, of course, but the customer nonetheless has to leave the site. The issue with this is that it can be discomforting to people not expecting it, and could lead to sale loss due to this mistrust. This conversion hurdle is why I’ve been looking at Ms. Merchant Account as another alternative for my customers to 2CO. In addition to on-site card processing they do international and overseas merchant accounts, and so far the processing rates don’t seem to be exhorbitant, but I simply need one answer: Will they take my good and honest blinds business from Panama? We’ll find out soon enough.