Hi,
does anyone have a solution for having their online transactions transferred directly into their UAE bank account, purely for tax savings purposes?
Our bank account in Dubai is with Standard Chartered, who offer no merchant facilities.
So if anyone can recommend a UAE merchant service, along with a UAE payment processor who accept Dubai currency (AED), that'd be great.
Cheers,
PM

mashreqbank.com providing Merchant Bank Account and Onlnie Payment Gateway.

They support US$ and AED currency account.

Its cheaper then 2co.com

do they accept foreign international companies for processing?

Hi 3sgte power,

The desired services may be available from Prosum fzc prosumfzc.com depending on the nature of your business and your location of business.

Have a nice day,
Kensus

for a customer of mine i'm looking for the same solution

keypoints:
1. company located in Dubai Airport Freezone
2. has a website selling custom made software
3. already has a bank account in euros in Dubai

wants to be receiving CC payments into the Dubai bank account. What is the best place to look and at which price 3-5% fee would be max.
Customer will probably receive genuine customers and no CC fraud, as the software is not interesting to be frauding with. Customers are accepted by the moderator of the website.

Rather not want a USA merchant as the customer is an offshore company.

Any ideas on this? We have been looking into:
NoChex (UK bank required)
2checkout (USA based?)
DotPay (polish??)

we want to have it setup within a month, but we find it hard to communicate with CC providers, everything takes ages...

Any ideas?

checked out mashreqbank.com but can't such service, any ideas where to find it?

Volumes will be around 10.000 - 30.000 each month

Hi,

Currently, the services are available only from Mashreq, NI or Comtrust. But opening a Merchant Account can be a long process.

Plz send a mail to info@prosumfzc.com with the local contact details in Dubai and someone will contact for further support.

Hi,
does anyone have a solution for having their online transactions transferred directly into their UAE bank account, purely for tax savings purposes?
Our bank account in Dubai is with Standard Chartered, who offer no merchant facilities.
So if anyone can recommend a UAE merchant service, along with a UAE payment processor who accept Dubai currency (AED), that'd be great.
Cheers,
PM

Hi,

Currently, the services are available only from Mashreq, NI or Comtrust. But opening a Merchant Account can be a long process.

Plz send a mail to info@prosumfzc.com with the local contact details in Dubai and someone will contact for further support.

we have checked the prosumfzc.com website, but it looks that the customer buying a product first needs to open a prosumfzc.com account???

We want an integrated system where the customer has no hassle of opening another account...
the website you give doesn't have that much information, where can i find more details???

Payments to Prosum’s Partnering Merchants can be made either from your Credit Card (to be introduced) or from your accounts held with our Partner Banks.

the information on the website is not really specific and not very much...

are you involved with the company offering the services? you only have 2 posts on the forum, so i assume there is a link between you and the company?

Mashreq Bank not mentioned the service on their website, you need to contact them for this service.
Price I get from them was:
3% + AED 5000 yearly fee.

There are also merchant accoutn provided from:
National Bank of Dubai
National Bank of Abu Dhabi

for above 2 you need to take merchant account from them and CC processor from Etisalate.

thanks for the answers, i have some more questions :)

1. is this fee of 3% allin (from selling the product to receiving the money in the bank?)
2. selling products in euros, is this possible at mashreq to open an euro account?

3. what are the fees at the other banks (estimate)
4.Etisalate did a google on them, can't find them??

1. Yes, 3% all over the fee and the money will come into your bank account in their bank. and AED 5000 yearly fee. other then this there is no monthly fee. if you want to transfer the ammount from your bank account with them to any otehr bank then you have to pay the normal transfer charges.

2. as per my knowlage they support AED and USD account, you can confirm them about euro.

3. you can contact them as they have diffrent pricing for diffrent business.
National Bank of Dubai: http://www.nbd.com
National Bank of Abu Dhabi: http://www.nbad.com

4. you can check their packages here:
http://www.etisalat.ae/index.jsp?lang=en&type=service&contentid=856cb602b643b010VgnVCM1000000c24a8c0RCRD&currentid=c925c15f5006b010VgnVCM1000000c24a8c0____

I suggest to go with Mashreq Bank as they have CC processing + Merchant account in once package and the fee less then others.
If you go for NBD/ANBD + Etisalat then you have to pay to both of them for Merchant account from NBD/ANBD and for CC processing to Etisalat.

Make sure any of above support the UAE based companies only.

For more informaiton on Mashreq Bank service you can contact on below person as he is in Marketing department - Mashreq Bank.
His name is: Irfan Nizar
Email: IrfanN@techbms.com

1. Yes, 3% all over the fee and the money will come into your bank account in their bank. and AED 5000 yearly fee. other then this there is no monthly fee. if you want to transfer the ammount from your bank account with them to any otehr bank then you have to pay the normal transfer charges.

2. as per my knowlage they support AED and USD account, you can confirm them about euro.

3. you can contact them as they have diffrent pricing for diffrent business.
National Bank of Dubai: http://www.nbd.com
National Bank of Abu Dhabi: http://www.nbad.com

4. you can check their packages here:
http://www.etisalat.ae/index.jsp?lang=en&type=service&contentid=856cb602b643b010VgnVCM1000000c24a8c0RCRD&currentid=c925c15f5006b010VgnVCM1000000c24a8c0____

I suggest to go with Mashreq Bank as they have CC processing + Merchant account in once package and the fee less then others.
If you go for NBD/ANBD + Etisalat then you have to pay to both of them for Merchant account from NBD/ANBD and for CC processing to Etisalat.

Make sure any of above support the UAE based companies only.

For more informaiton on Mashreq Bank service you can contact on below person as he is in Marketing department - Mashreq Bank.
His name is: Irfan Nizar
Email: IrfanN@techbms.com
thanks for the quick update. we have 1 application running and if that fails we will try mashreq

last questions:
1. did you negotiate the 3% fee? and at what volumes / products?
2. how is the application procedure? does it take long?

1. I did not negotiate with them as I feel its fair pricing for Merchant Account + CC processor.
2. in my case they took 1 week.

for detail info, I suggest to contact them on above address as they may have change their policy, pricing.

1. Yes, 3% all over the fee and the money will come into your bank account in their bank. and AED 5000 yearly fee. other then this there is no monthly fee. if you want to transfer the ammount from your bank account with them to any otehr bank then you have to pay the normal transfer charges.

2. as per my knowlage they support AED and USD account, you can confirm them about euro.

3. you can contact them as they have diffrent pricing for diffrent business.
National Bank of Dubai: http://www.nbd.com
National Bank of Abu Dhabi: http://www.nbad.com

4. you can check their packages here:
http://www.etisalat.ae/index.jsp?lang=en&type=service&contentid=856cb602b643b010VgnVCM1000000c24a8c0RCRD&currentid=c925c15f5006b010VgnVCM1000000c24a8c0____

I suggest to go with Mashreq Bank as they have CC processing + Merchant account in once package and the fee less then others.
If you go for NBD/ANBD + Etisalat then you have to pay to both of them for Merchant account from NBD/ANBD and for CC processing to Etisalat.

Make sure any of above support the UAE based companies only.

For more informaiton on Mashreq Bank service you can contact on below person as he is in Marketing department - Mashreq Bank.
His name is: Irfan Nizar
Email: IrfanN@techbms.com

Askar,

why is his domain @techbms.com and not of the mashreq bank???

did a domainlookup and techbms.com is registered by the mashreq bank.

Can anyone explain why it is so hard to open an offshore merchant account? Is it only they are afraid of chargebacks? Or something else.

If being afraid of chargebacks, why just handle a low fee but let the chargebacks by for the bill of the selling company (let the selling company take the risk of chargebacks but calculate a low fee)???

My client is located in Dubai Airport Freezone, has a website for which he wants to handle CC payments, and is rather sure he is not getting chargebacks and if they happen wants to take this for own risk.

Does MashReq handle CC payments for a UAE company that is located in the Dubai Airport Freezone?

In the UAE it would also be worth contacting Elisalat, they have a Payment Gateway (http://www.etisalat.ae/index.jsp?lang=en&type=package&currentid=c925c15f5006b010VgnVCM1000000c24a8c0____&contentid=856cb602b643b010VgnVCM1000000c24a8c0RCRD&offer=Package&order=1) and work with acquiring banks in UAE such as National Bank of Abu Dhabi.

Hi Askar,

I have a offshore compnay in dubai and looking for an online merchant account for my online pharmacy.
I would like to know if you know some merchant companies who can help me in this matter.

thanks

Even i am looking for a UAE and Oman Merchant account service provider

Even i am looking for a UAE and Oman Merchant account service provider

why must looks for UAE and Oman merchant account when you can get your account offshore?

Hi Askar,

I have a offshore compnay in dubai and looking for an online merchant account for my online pharmacy.
I would like to know if you know some merchant companies who can help me in this matter.

thanks

Do you know if they Allow selling meds ?

Why not open an account with a bank in Panama or some other offshore location where you can also get a merchant account?

Then just wire transfer the funds from your offshore account to whatever bank account you want (in UAE)...

The reason most offshore merchant account providers charge high fees is because fraud risk is very high.

Sure, *you* might think you are a low risk.. but the merchant account provider has no idea who you are, and they certainly aren't going to just take your word for your integrity.

So they make up for this risk by charging high prices and having a high reserve amount.

I agree it stinks, but after a few years of trouble-free processing, you should be able to negotiate a lower rate with your provider, since now you have some history..

hi,.
need someone to help me about having merchant account,..
I have tried the 3 banks mentioned above but they are not giving me a good deal,..
I have talked to Enbd technical department in Burjuman tower,.
they give me a proposal of 20,000 USD for acquiring the merchant account.

While in mashreq bank and National bank of Abu Dhabi - they are not responding properly to my inquiries.

I just registered my business 2 months ago,. And I am processing the merchant account to integrate it in my website.

What makes it more difficult for me,..
I am here in my country because my visa has already xpired,.. hopefully I can found someone here who can help me regardring this matter,..

The desired services may be available from Prosum fzc prosumfzc.com depending on the nature of your business and your location of business.

We urgently need contact details of someone in MashreqBank for online merchant account, PLEASEEE
Irfan Nazir's email address is no longer valid!!!