How To Accept Credit Card Payments Using Thai Bank Account?

[Stormrider]

I want to set up a bank account in Thailand to accept credit card payments for my online business. How would I go about that? Currently I am using PayPal, but want to quickly change to another payment processor linked to an account outside the U.S. Thanks in advance.

[joepattaya1961]

That's not easy. If you would like to use a bank as a payment-processor they probably require a certain amount as guarantee + they do have fixed pay dates (e.g. 15th of every month) + they charge you up to 4% fees.

Keep using paypal and connect your new Thai bank account.

Incoming payments are immediately available and yes.........fees are also 3-4%.

[Swiss1960]

Main difference you need to be aware of is that Paypal can be used by private persons to accept payments from other people. When you want to accept credit card payments, you will need to have a legitimate business. That is why:

Credit card payments are accepted by Merchants Webpage (your business webpage) and sent to an acquiring bank / acquiring processor in a predefined format. Acquiring processor / bank will forward the transaction through the network (VISA, MC etc.) to the Issuing bank / issuing processor and the issuing bank / processor will charge the cardholder.

In order to fulfill the requirements of the networks, the merchant and the acquirer will sign contracts where the merchant accepts the rules and regulations of the card brand as well as the costs from the acquirer. Note that you normally sign contracts per credit card brand that you will accept. The acquirer will normally require the power of attorney to directly settle the credit card payments and reversals with the merchant account.

Normally, if you deal with an acquiring bank, they will request that you have the account with them. If you deal with an independant acquiring processor, your bank account could be anywhere, but depending on local regulations and laws about money landering. If your acquiring processor is in the US, then they will not allow your account to be outside the US.

Thus, if you want to use a Thai account for accepting credit card payments, you would most definitely have to talk with the Thai bank and they will check your business (you did not say whether your business is in Thailand or not) and then will provide you with the contracts as a merchant accepting credit cards. Most definitely, they will then also check the letigimacy of your business.

Your bank might then also give you advice (or even mandate) certain software to be installed on your homepage for the acceptance of credit cards. Sidenote: whatever acquirer / acquiring processor you choose, make sure that he can provide you with 3DS (Verified by Visa and Mastercard Secure Code).

[huahinjoe]

Anno I used Payonner but there is many similar service where you can link your paypal to a free ATM card they give you and you can take money out easily anywhere for a reasonable fee compare with the hassle of thai payment gateway.

[Fgis]

Open a new Paypal account + Thai bank account with a Thai name and do not rely on only Paypal account, they will screw you sooner or later.

You will never get a merchant account to accept online payment on your website with a Thai bank...

[BlackJack]

Open a new Paypal account + Thai bank account with a Thai name and do not rely on only Paypal account, they will screw you sooner or later.

You will never get a merchant account to accept online payment on your website with a Thai bank...

i just need to manually enter the users details and credit card number - I dont have a mall that sells lots of items - whats available - thanks

[soomak]

Main difference you need to be aware of is that Paypal can be used by private persons to accept payments from other people. When you want to accept credit card payments, you will need to have a legitimate business. That is why:

Credit card payments are accepted by Merchants Webpage (your business webpage) and sent to an acquiring bank / acquiring processor in a predefined format. Acquiring processor / bank will forward the transaction through the network (VISA, MC etc.) to the Issuing bank / issuing processor and the issuing bank / processor will charge the cardholder.

In order to fulfill the requirements of the networks, the merchant and the acquirer will sign contracts where the merchant accepts the rules and regulations of the card brand as well as the costs from the acquirer. Note that you normally sign contracts per credit card brand that you will accept. The acquirer will normally require the power of attorney to directly settle the credit card payments and reversals with the merchant account.

Normally, if you deal with an acquiring bank, they will request that you have the account with them. If you deal with an independant acquiring processor, your bank account could be anywhere, but depending on local regulations and laws about money landering. If your acquiring processor is in the US, then they will not allow your account to be outside the US.

Thus, if you want to use a Thai account for accepting credit card payments, you would most definitely have to talk with the Thai bank and they will check your business (you did not say whether your business is in Thailand or not) and then will provide you with the contracts as a merchant accepting credit cards. Most definitely, they will then also check the letigimacy of your business.

Your bank might then also give you advice (or even mandate) certain software to be installed on your homepage for the acceptance of credit cards. Sidenote: whatever acquirer / acquiring processor you choose, make sure that he can provide you with 3DS (Verified by Visa and Mastercard Secure Code).

The customer pays by credit card -> it goes into your Paypal account -> later you withdraw the money into your Thai account

I believe that is possible, without any need to talk to any bank.

[boosta]

Getting full direct merchant status to accept credit cards means setting up a legitimate Thai corporation with stable profitable operations for a period of time sufficient to qualify with the banks and payment processing companies. Usually not worth doing for a small operator.

Currently PayPal is the easiest and most popular way to bypass these very stringent requirements. Others take a pretty hefty percentage and aren't based in Thailand.

Note whatever country your payment gateway deposits to, you can transfer to your Thai bank account, either by wire transfer or for small amounts use your separate Thai Paypal account.

[boosta]

The customer pays by credit card -> it goes into your Paypal account -> later you withdraw the money into your Thai account

I believe that is possible, without any need to talk to any bank.

-

The OP states he's trying to get away from PayPal, wants to accept the cards directly as a VISA etc approved merchant.

Edited June 15, 2013 by boosta