Acceptance of credit cards is a major player in ecommerce growth but unfortunately it is next to impossible to acquire an online internet merchant account in Pakistan. CitiBank is indeed offering it’s services for internet merchants but their prerequisites can hardly be met by most start-ups. A few websites such as Liberybooks and TCS Sentiments are using CitiBank but a major chunk of all internet retailers are operating their ecommerce websites the good old fashioned way by taking payments on Cash on Delivery, Online Deposit, EasyPaisa, Western Union etc.
This being said, there are a couple ways where you can actually accept payments by Credit Cards from a local website for your products or services. Only problem with these methods is that Pakistan Rupees currency is not supported but if you can accept payments in US Dollar, Euro, GB Pound then you get started right away.
Below are a few that are being used by several businesses/individuals in Pakistan to accept payments by Credit Cards:
Payoneer offers an easy, convenient and cost effective way to get paid by Credit Cards. How they work is that once you signup, you will get a Prepaid MasterCard Debit Card which you can use to draw cash from any MCB or CitiBank ATM location in Pakistan. As of writing this post, they have a one-time fee of US$9.95 for card activation and 3.75% for each load. Meaning, if you request US$1,000 from someone, US$30.75 will be deducted.
Update: Get $25 BONUS on signup after getting your first payment of $100 or greater
Click here to visit Payoneer
This option is good if you want to sell directly from a website or want a system from where you can send invoices to customers. It’s a full fledged merchant account that will get you up and running in no-time and customers will even be able to pay you by Paypal. They have a one-time fee of US$10.99 but it’s expensive in transactions as they charge a flat fee of 5.5% + US$0.45 per transaction. Meaning, for every US$1,000 you get, you will be paying US$55.45 as the fee. They will also hold about 4.5% of the amount you’re paid for a period of 3 months.
Click here to visit 2Checkout
Formerly (and commonly) known as MoneyBookers, Skrill costs 1.90% to 3.90% + US$1.00 per transaction and works similar to 2Checkout allowing you to sell from a website and request payments through their interface. You can withdraw money via Wire Transfer for a fixed fee of US$2.30. One problem with Skrill is that people in USA cannot send you money using their services!
Click here to visit Skrill