Panama solution

Our Panama solution offers merchants the ability to price their products in up to 58 different currencies with settlement to US Dollars to a direct merchant account with one of our participating partner banks.

Merchants must incorporate in Panama to obtain an Internet merchant account to meet with Card Association regulations requiring merchants be incorporated in the jurisdiction in which they settle their funds.

We work with a number of corporate service companies in Panama that can assist with Panama company formations and completion of bank account opening documents.

Merchant types:

Our Panama solution caters to most high-volume businesses and is suitable for a range of companies ranging from European-based online pharmacies (MasterCard and VISA processing), pre-paid phone card providers, portals, VoIP product provider to travel and retail.

We have an extensive list of acceptable merchants, so please do check with our team by applying now.

Qualifying criteria :

• Merchants must process a minimum of USD $50,000 in sales per month and provide estimated future sales.
• Pharmaceutical merchants should preferably ship products by courier and provide a tracking number. If not, merchants should ensure that all customers receive proof of delivery and/or receipt of goods.
• Merchants must have a low percentage of credits to sales and chargebacks less than 1% to total sales volume.
• Merchants must provide audited financials or similar proof of income.
• Some start-up merchants will be considered if able to provide comprehensive business plans and sales projections and illustrate solid financial backing. Bank terms will apply.

Merchant websites must be available for review and show:

• Credit card flag symbols in color to indicate card acceptance.
• Privacy, security and refunds policy.
• Complete description of the products or services offered.
• Pricing of product(s).
• Transaction currency.
• Contact information (e-mail, phone number, fax).
• Delivery policy.
• Security capabilities and policy for transmission of payment card details.
• Export restrictions (if applicable).
• Address of the merchant’s corporate office in Panama (once completed).