e-Commerce Electronic Payment methods
e-Commerce businesses should be able to accept payments via as many payment methods as possible. Among the most popular e-payment methods are digital valet systems like Paypal which offer an end-to-end customized payment solution. With digital wallet systems, customers can buy directly from your e-commerce website. Electronic money services will require certain information about your business before taking you on as a client including a full KYC. Once you have implemented a PSP such as Paypal on your website you’ll be able to accept card payments.
Payment gateways for e-commerce businesses
Online payment gateways offer services for processing payment information for payments made online. The main advantage of online payment gateways is that they can be implemented on your website quickly and easily and at a minimal cost. Using online payment gateways makes the checkout process of your website streamline and speedy.
Offshore jurisdictions for e commerce businesses
It is possible to incorporate your e-commerce business in an offshore jurisdiction like Belize, Curacao, Seychelles etc. Registering your company in an offshore jurisdiction can be cheaper and quicker however you must take into consideration that you may run into problems. Companies incorporated offshore can have unpleasant run-ins with the tax authorities in their home country (you’ll still need to declare on your company and pay the relevant taxes). Companies incorporated in offshore jurisdictions may also encounter problems when they try to open a business bank account. Traditional banks and virtual banks both have issues with offshore companies when it comes to compliance.
Onshore options for e-commerce businesses
For a safe and secure option that will stand the test of time, onshore incorporation is usually best. Choose a European jurisdiction like Cyprus, Hungary, Bulgaria that has a low corporate tax. In this way, your business will be fully legitimate and you will not encounter problems when opening a business bank account. In our professional opinion, we strongly recommend that you incorporate your e-commerce business onshore in a European jurisdiction.
e-Commerce businesses need to use the best possible payment and banking solutions to create a streamlined method for receiving and sending funds. Without efficient e-commerce banking solutions, businesses can come up against endless problems that can even lead to the failure of the business. The best e-commerce banking solutions should provide a wide range of payment methods for customers across the globe. e-Businesses need to offer payment methods that suit customers in diverse locations so that they can use the specific localized payment method that they are comfortable in their part of the world.