Have you been looking at how to accept Credit Cards on Shopify in the Caribbean but have been unable to find the information you need to take advantage of the Shopify platform?

Well, this article is for you.

The name Shopify is pretty synonymous with e-commerce and for most Caribbean folks, when they think of launching a product-based business…the first platform that comes to mind is Shopify.

It's a dedicated e-commerce platform designed to help you build your online store without the need or worry about tech skills to use and is also one of the top platforms that you can use if you are looking to start a dropshipping business as they offer a wide variety of integrations to drop shipping partners.

Listen the platform is feature-packed and tailor-made for e-commerce.

Now in saying all of that…there are tools on the market that can analyse the websites coming out of a country and check on the tech that they are using.

And surprisingly but not surprisingly - 295 websites are using the Shopify platform in TT.

There are 208 websites that use Shopify in Jamaica.

One of the reasons why these numbers are low is due to the payment options - getting paid on Shopify is something that most people do not know how to do.

Pulling up a few websites in Trinidad and Jamaica.

Some businesses offered credit card payments but most did not make this option available and instead opted to allow for Cash on Delivery, Bank Deposits or even taking credit card payments over the phone.

So let's break down how to go about taking credit card payments on Shopify and hopefully, this will open things up for you.

Step 1:

You will need to select your e-commerce plans from Shopify or Wix. Shopify plans start at US$39 per month and Wix e-Commerce plans start at US$17 per month.

Step 2:

You need a merchant account from your bank, it may also be referred to as an e-commerce account which is different from your business account. Reach out to the business team where your business account is set and ask them about the Merchant account. There is a fee associated with these accounts and it varies with every single bank.

Here are the fees for the merchant accounts in Trinidad and Tobago and they will be different in each Caribbean island.

For TT, the fees for the merchant account are as follows:

Scotiabank - US$200 a month: 25 US cents per transaction and you negotiate the percentage fee.

Republic Bank - US$75 a month: 25 US cents per transaction, three to five per cent per transaction fee.

Royal Bank - US$150 a month, 50 US cents per transaction, three per cent per transaction fee.

First Citizens Bank - US$100, 25 US cents per transaction, three per cent per transaction fee.

CIBC - US$300,000 capital, 15 US cents transaction fee, four per cent per transaction fee (monthly fee unknown).

Now, remember, these fees are just for the merchant account; you still must pay your Shopify/Wix fees on top of that.

Step 3:

The third step is to contact First Atlantic Commerce (FAC) and you must open