These fees can vary from under 2 percent to more than 5 percent, depending on the processor and bank involved. Its too much of a risk. HUGE tax breaks and a life of sea, sun, and sand is an offer that is hard to refuse. You need the features and support to make accepting transactions simple. In basic terms, Puerto Ricos payment processing uses a unique debit network, making processing US cards such as Visa, Mastercard, and American Express challenging via a Puerto Rican merchant account. 45 Credit Card Processing jobs available in Puerto Rico on Indeed.com. customer service and secondary revenue sources. Credit card processing services providers are companies that offer a variety of systems and solutions to help businesses facilitate receiving payments from customers. EMB is a reputable credit card processing company with an A+ rating from the BBB and an A rating from Card Payment Options. The Bluetooth card reader and easy-to-use app make transactions fast and secure. Ben Dwyer began his career in the processing industry in 2003 on the sales floor for a Connecticutbased processor. We pride ourselves in new technology adaptation in the Caribbean Islands, quick and friendly boarding process, 24/7 live customer support in English and Spanish, and ongoing successful relationships with the most leading point-of-sale providers in the world, including Clover and many more. The Best Credit Card Processing in Puerto Rico You need to find a Puerto Rico payment processing company that not only offers merchant services to businesses in Puerto Rico, but also has the experience and technology in place to provide quick, seamless, and quality service. Asia Pacific, Eastern Europe & the CIS, Middle East & Africa, https://www.statista.com/statistics/1197513/puerto-rico-leading-products-bought-online, https://www.theweeklyjournal.com/business/e-commerce-gaining-strength/article_5d3d441e-e090-11ea-a9bc-b301cc023e9b.html, https://www.itu.int/en/ITU-D/Statistics/Pages/stat/default.aspx. MagicPay has been servicing the Puerto Rico and US Virgin Islands since 2013. Debt Statistics in Puerto Rico. 2000 Carr 8177 # 26. managing merchant accounts for hundreds of product lines as well as scr.setAttribute('async', 'true'); Lets start by explaining why you might want to move to Puerto Rico aside from the glorious year-round tropical weather, of course! Additionally, the merchant processing representative will provide training on the payment terminals. Like all businesses, our growth is dependent upon our many satisfied merchants and we will do what we can to continue to earn your business. Those include; Verifone, Dejavoo, Pax Technology, Ingenico, ValorPayTech, First Data and many other payment technology providers. Accept credit cards online, by phone, by phone payment link or with pre-built payment integrations with leading e-commerce platforms, virtual terminal and a payment gateway. Make Credit Card Processing Work For Your Company. PCI-compliant small business card processing represents just a fraction of what we offer. Cincinnati, OH, USA, All Rights Reserved - Durango Merchant Services, choosing the right payment processing account, Protect Your Business From Chargeback and Fraud, Merchant Accounts For Startups and New Businesses, Best Questions to Ask When Looking for a Merchant Account. Expect your business to pay a discount rate of up to 2% on each transaction where the credit card is present and up to 3% for online sales. ButCanada is one of the best options for an offshore merchant accountif the American consumer market is one of your main focuses as a business owner. Small businesses that utilize credit card processing will find that transactions run more smoothly. Online transactions are naturally deemed to be far riskier. Thats right; NOTHING TO PAY on your passive income streams, including if you pay yourself primarily using dividends from your own company! To set up your merchant account for your business in Puerto Rico and start processing credit cards, Apply Now or call us today! Take control of your business's finances with simple integrated payment and banking solutions. You need to find a Puerto Rico payment processing company that not only offers merchant services to businesses in Puerto Rico, but also has the experience and technology in place to provide quick, seamless, and quality service. Dynamics Payments LLC is a registered ISO of Wells Fargo Bank, N.A., Concord, CA. This is standard procedure as these organizations look to protect themselves against illegal activities such as fraud. These days, its essential that businesses have a non-cash payment processing solution. Services are offered throughout all Puerto Rico and the US Virgin Islands. LEARN MORE. These include the world known MagicPay gateway. Credit card processing charges are much lower for card-present transactions than they are for sales performed online. We are focused on providing innovative and tailored payment processing solutions for all business sizes, from corporate solutions, application developers, to smaller businesses. At The Transaction Group (TTG), weve been assisting merchants with their payment processing needs since 2004. This will require quick setup on the initial installation of the payment terminal. We will take a look at how you might achieve that outcome shortly. Our Puerto Rican credit card processing service works on a variety of manufacturers. Additionally, we offer a wide variety of payment platforms. me to learn about technology. Credit card processing services for businesses in Puerto Rico. eMerchantBroker.com is committed to providing the most secure, reliable, affordable, and fast payment transactions both to low and high risk merchants. Accept ACH and credit card payment on invoices, in-person or on the phone with Virtual Terminal, and create subscriptions for full automation. Your Clover POS does more than just small business credit card processing. By moving to Puerto Rico, you can secure ZERO capital gains tax on all future gains on bonds, stocks, crypto, and other investments. Where Can I Use My Square Hardware? A terminal with a printer is likely to set your company back around $500 while a high quality wireless terminal may cost at least $800 or more. Secondly, they like to change their minds about what counts as a restricted industry all the time, and they freak out at the first signs of your chargeback ratios climbing. Dynamics Payments Corporation is a registered ISO of Deutsche Bank, USA, New York, NY. Apply to Executive Assistant, Business Intelligence Analyst, Area Representative and more! Nonetheless, our company prides itself in premier payment technology. if(oldonload){oldonload()}}; Secure in-person and online credit card payment processing with Stax Pay. Puerto Rico Payments Research | Report Contents Puerto Rico Country Report | Selected Extracts Synchrony Bank. You can start simple and ramp up or get everything you need from the get-goits your call, Clover Mini is ready when you are. Whats more, the generous accommodations made to foreign investors and entrepreneurs are not quite as accommodating as they once were. eMobilePOS for iPad is an all-in-one POS software that fits all the functionality of a traditional POS workstation into an iPad. Learn more By Invoice Effortless Customer Billing. Re: Use of Credit Card. For your part, look for a provider that can help you with credit score problems and has previous experience working with businesses similar to the one you are running. Businesses that only have a low amount of monthly transactions should find out more information on these fees. Since MagicPay is certified by the local tax authorities to sync payment data daily with the local tax department, MagicPay merchants can take advantage of the IVU Control program. Banks are the number one choice when it comes to picking a credit card processor. Point of Sales (POS) Well perform a FREE RATE ANALYSIS and show you how we can save you as much as 20% on your current fees. The discount fee is the main charge issued by the provider. "https://s.adroll.com" : "http://a.adroll.com"); The type of business you operate is another consideration when it comes to credit card processing. Perhaps the US isnt the most crucial market to you. In the United States alone, more than $2.5 trillion is charged to credit cards each year. ((document.getElementsByTagName('head') || [null])[0] || The right solution for you depends on several factors, so its always best to speak to us to see how you can enjoy seamless payment processing while enjoying the tax break Puerto Rico has to offer. Payment processing in Puerto Rico can be a difficult task. These include Clover and Pax terminals. Our credit card processing in Puerto Rico is suitable for retailers, restaurants and online businesses. Run your business on one system. Manage your entire business, from accepting payments to managing employees and tracking inventory, on this one, complete system. Further stipulations include having an office with local employees and a business bank account on the mainland. By ticking this box and submitting your email, you agree to the storage and handling of your data by PPRO in accordance with our Privacy Policy. Online: Applying online is the fastest and most straightforward way. However, you could optimize the structure to send all debit andACH paymentsto your US merchant account and then set up an offshore merchant account or rely on a third-party provider that supports Puerto Rican companies such as PayPal to process your credit card payments. Many Credit Card Processing Services . But then you start running into tax issues with the IRS again. Wether your business is in San Juan or on the remote island of Vieques, MagicPay can help. With MagicPay you can feel at ease. Get safe solutions for your business transaction through our payment gateway solutions. setTimeout(function(){adroll_adv_id = "UTAW2DWJ5ZFNBAHBZS7CYQ";adroll_pix_id = "BYUPB6QMVJDNZO4ZPSVJYZ"; The ability to accept credit and debit card payments is a necessity in todays economic landscape. MagicPay specializes in payment processing technologies for Puerto Rico businesses. E-Complish Achieves PCI, HIPAA Compliance Recertifications . Maybe youre based in the US but primarily sell your services to European individuals, for example. Process payments anywhere. But choosing the right payment processing account is crucial, especially for merchants in Puerto Rico. Not only do customers expect and enjoy the option to pay with credit cards, but businesses selling products or services online obviously can not accept cash online and need a alternative way to process customer payments. Continue, to Online Payments Explore payment processing solutions from Chase Accept payments in person Chase Smart Terminal If you already have a merchant card processing history, we can help for better deal. Thus, if you primarily serve US customers, a Puerto Rico merchantaccount alone will not be a viable solution for you. Global Payment Services for Puerto Rico Over 70% of the population has a bank account and almost 80% has an Internet connection. We will help develop a personalized merchant account for your Puerto Rico based business. processing. Categorized under Credit Card Services. Once you have serious monthly sales volumes, offshore processors will allow you to accept and settle in different currencies. }());}, 3000); var script = document.createElement("script");script.type = "module";script.src = "https://widgets.thereviewsplace.com/2.0/rw-widget-flash.js";document.getElementsByTagName("head")[0].appendChild(script); 4710 NW 2nd Ave, Suite 101, Boca Raton, FL 33431.