Merchant Account Provider

Is there any for Egypt residents?

[moftary]

Good day,

It wouldn't be an exaguration if I said it's been over two years for me now hunting for a merchant account provider that issues merchant account for Egyptians.

I think my business is too good to go with 3rd processing services, like ikobo, 2CO, etc.. and it's worth mentioning that paypal is not an option for Egyptians.

I've asked a few local banks here (CitiBank, HSBC, NSGB, etc..) for the availablity of a merchant account, but, and don't be shocked, most of them asked, "and what a merchant account is?!"

I have checked some offshore merchant account providers but their application fees and signup fees are too high to afford.

Is there anything I have missed to check?

Cheers,
mOftary

[Corey Bryant]

Depending on your type of business and monthly volume, you can get a checking account with Valis & Cardservice will usually open a merchant account for international merchants.

-Corey

[Essex_boy]

have you tried worldpay?

[moftary]

WorldPay is not available for Egyptians too.

[lorax]

I don't mean to sound sarcastic or mean but have you tried a search for the kws 'merchant', 'account', 'egypt'? When I did, I found a few possibilities but I didn't look into their rates and fees. iKobo was among the list.

[moftary]

Well, googling for such keywords gives me a list of serps of my posts in many different forums :D

nice, nice..

[ChronoMan]

It's quite easy.

You've run into an old terminology problem.

The joke is , only english and USA banks and banks who ACTIVELY look for e-commerce accounts (which is quite rare) worldwide know the term of Merchant Account.

Other banks do not call it "merchant account" in most countries.
In each country it really depends how the bank calls it.

To solve it do the following, call Visa in Egypt, or the corresponding to Egypt Visa office, explain them the problem and ask them for advice to which bank to apply "to be able to accept e-commerce sales".

I am 300% sure there are e-commerce ready acquirers in Egypt. Another way - just go to the shop on the street and ask the shopper which company or bank provides him with the POS terminal he uses to accept cards from buyers.

If it's an international bank like HSBC - it wont be an option. All those international banks (HSBC, Citi, Barclays etc...) never offer local e-commerce services in countries like Egypt, no offense - just reality. But there must be some local acquiring company who will certainly do it.

If not, because it's possible that none of local acquirers have e-commerce license from VISA/MC , You will be able to apply by rules to any e-commerce acquirer in Your VISA\MC region which is probably CEMEA right?

In the worst case find any PAGO reseller (a german acquirer who accepts international clients) , incorporate in EU and apply for a merchant account there.

[moftary]

Many thanks for the nice advices.
Yes, you drove my attention to a simple idea, why don't I go to any "real" shop asking them where they have got their POS terminal from.
Also, the "asking Visa Egypt" idea is quiet good. Will do search for a PAGO reseller also.

All the best!

[ChronoMan]

Not a problem.
:-)