4 Ways for Caribbean Businesses to Receive Online Payments
Many Caribbean businesses miss out on FOREX opportunities because they don’t have any e-commerce solutions which will bring their products and services closer to their customers. Online sales have proven to be effective and guaranteed to support your profits, but you have to start with a good website. The latter is easy to do, but bringing up a physical brand in the virtual world requires professional work. Don’t let this discourage you, there are many companies offering their services for e-commerce solutions. Besides, once you’ve set up your business online, only the sky is the limit. All that’s left to do is choose the payment system.
Setting up this world’s most famous payment system has never been easier. Paypal has invented a new, much quicker way to get paid for your services which is ideal for consultants. All you need is to create an account on their official website, then create quick invoices and payment requests using PayPal.me. The site itself will create a secure link which you can then send to your client, so that they can send the amount of money owed. Unfortunately, businesses in the Caribbean don’t use online payments even though their customer spend most of their time online. Check out this Linkedin Video for more information.
Sadly Paypal solution does not give you access to US currency, however there are alternatives. One of them is Payoneer, another popular online payment system for businesses. In countries such as Trinidad and Tobago, people often use PayPal, but if your customers use their Credit Cards, it’s always a good idea to use Payoneer to accumulate US dollars. Their fees are relatively low and you receive your money much quicker than PayPal. Take a look at this video on Linkedin for more insight.
First Atlantic Commerce
Some businesses in the Caribbean are still unable to set up payment methods using the traditional online payment solutions. To some, applications take longer than expected; for others the point of sale can be a hassle, etc. However, you’ve still got a solution in the form of a payment gateway. Many Caribbean businesses with e-commerce sites use FAC (First Atlantic Commerce). It acts as a ‘mediator’ between merchants where you can link your local bank account. Processing, verification, and money transfer is incredibly easy and most importantly, safe to do with these payment gateways. It’s widely used in the Caribbean for various payments. Don’t forget to check out the video to find out more!
If your website is based on the WordPress platform, then WooCommerce is just the right solution for your website. What’s so good about it? This highly popular extension is essential to your business and helps by connecting a bank account with your website. Then, you can directly receive payments from orders made online, using this secure gateway. However, if your business is registered in the Caribbean, such as Trinidad and Tobago or some of its neighbors, you’ll need the plugin version Webgold’s official website to make it work. Here’s the official link to download the plugin. In short, watch this one minute Linkedin video to see how it works.
Hopefully, these tips will help your business grow and expand internationally, because it would be a shame not to use the global online network and expose it to your potential customers. It has helped plenty of businesses around the Caribbean thus far, and rest assured – it will help you as well, if you start using it immediately.