Payment processing for e-company going global
Which payment gateway / processor do you recommend for an Estonian e-company that will mostly charge from foreign users?
Our business - www.leapin.eu - uses https://www.braintreepayments.com/ for online credit card purchases (they offer 50K revenue free of charge). Paypal also works well for us. There are other options you might want to consider - Ayden, Skrill to name a few.
Lynwood Sewell Bell
Marko and Erik, this is an area of great interest to me in Anguilla and one that I am dedicated to finding an ideal solution here in our neutral tax location ... not only from a pricing perspective but also one which will embrace Ethereum, bitcoin or other forms of payment or exchange.
You may also be interested in and may already be following the tax competition practices being driven by tax-hungry state governments, the OECD and by multinational businesses like Apple, Facebook and Google. The recent BEPS recommendations from the OECD are particularly significant for they suggest that more attention will be paid to issues like "where do the transactions take place" ... and the payment process is one of the key elements which defines that.
For example the four critical tests are:
-where is the "invitation to treat" i.e. where is your index page hosted
-where is the offer made i.e. where is the credit card data submitted to
-where is the acceptance made i.e where does the card authorization go back to
-where does the title to the purchased goods or services pass - this is typically within your Web page material i.e. "do you accept these terms" which should probably say "the laws of this transaction are subject to XXXX law and title transfers in XXXX.
In the digital world these are all relatively easy to locate in an optimal jurisdiction like Anguilla or Estonia but ... it is even easier to fall victim to another state's argument that you really should be paying your taxes in the USA where your payment gateway, merchant account, GoDaddy domain name and hosting take place.
This topic should be of extreme importance to all global businesses! Cheers, Lyn