Anyone have contacts to get a Panama Merchant Account?

there are two banks in Panama providing this, Credicorp and Multibank

there are two banks in Panama providing this, Credicorp and Multibank


Thanks. Do you have a broker that can into me?

why do you limit yourself in panamian solutions?

why do you limit yourself in panamian solutions?

Very true, any suggestions?

why do you limit yourself in panamian solutions?

Well

What other solutions we have ?

Panama may be good for incorporation (although other jurisdictions are just as good) but very few high risk merchants utilize their banks anymore. Other solutions have surfaced that handle pharma but it all depends on volume, processing history etc.

Have your documents in order when you start looking! Hope this helps

I have a contact in Panama that might be able to help on this one.

http://www.panama-offshore-services.com/

If you are looking for a group that can do High Risk in the US, there is a company called AVP Solutions that can do a merchant account for online Pharmacy.

You will want to speak with the guys from Durango merchant services, they have plenty of solutions available (not for pharmacy, but it still may be a option) and have been in business for ages. Be careful with some of the many companies that offer processing for pharmacy, you will find only a very few options and no one knows how long they will last.

Don't believe a company which offer both Visa and MasterCard processing, it is Visa only, if they are able to handle both cards it is some kind of 3rd party processing .... there have been some very new creative solutions around.
Just a few things to consider before you jump into this.
Many will require a volume of at least 50k / month and chargeback rate below the 1% further they will have a very long payout period to prevent any los, they will as well require a 6 months processing history and only in very few cases accept startups, if you exceed the chargeback ratio you will face penalties in the range of $10k to 25k.

Holy Cow fionix ... I'm not sure who you deal with but I've never heard of a merchant being fined those numbers for cb's overages. I suppose it depends on how MUCH over huh?

PS pharma merchants normally use a verifiable delivery company so (with a good merchant) the chargebacks aren't a big issue.

Yes of course, just because you get over the 1% you won't get hit by the rain of fines and penalties, but have a look at those who exceed the ratio over a 4 months period, you will see such fines and penalties quickly, and I'm sure you know about it if you deal with high risk business.

Well yeah, its all I've been doing since 97.
I just don't want merchants to get the wrong impression and be scared pantless if they see a 1.2% for a month. lol
It takes 3 consecutive months of high ratios to start pushing the panic button ... luckily a good processor/bank/agent will notify the merchant before that happens.

Try contacting creditcorp bank in Panama yourself. Better rates.

Are there solutions other than Panama?

First Atlantic Commerce in Bermuda may be able to help you, also why not look into some of the service providers on this forum, failsafepay, psbill, multi cards etc. there are plenty of them.

Anyone have contacts to get a Panama Merchant Account?

Hey,

There's a lot of options but it all depends on the usual factors. Monthly volume, type of products, retail or Internet, and so on.We do business with about 50 different banks internationally, there's a lot of choices for outside the U.S. but largely depends on the business.

We do business with about 50 different banks internationally

LOL, funny ;)