Billing and Acquiring in Asia, Latin America and Africa

How to Choose a Payment Services Provider

The first thing you need to do to start monetizing your products in an exotic country is to select a supplier of payment services. For any project that has previously operated in just one market, it is important to understand that the tariffs charged by payment service suppliers are by no means the main criterion when making your choice, as your payment partner will play a key role in your business. To get started:

  1. Analyze which specific markets the company will be entering and the key targets it aims to achieve in these markets;
  2. Decide where the legal structure will be incorporated. A startup is unlikely to be able to decide on a legal structure by itself, as it lacks detailed knowledge of all the countries concerned and their tax systems. The optimal solutions should, therefore, be suggested by a provider.

These two steps will significantly narrow down the list of suitable payment services. Only then, in stage three, should one begin negotiating with specific payment system providers, paying due attention to their tariffs and the finer points of working with them.

The best deal will definitely be bank cards from international payment systems (their tariffs are publicly available and completely transparent). But in regions where they are not popular or are used alongside alternative means of payment, it is important to offer people tools they are familiar with. In this golden age of cross- border commerce, the absence of a familiar payment method could deter a customer or drive him straight into the hands of a competitor.

Acquiring by alternative means of payment that are popular in exotic countries is more expensive (operators used to charge commissions of 40-50%, but these are now in the 4-10% range) and their operating costs are higher, because they have their own user base and often have few or no rivals, which means they are in no hurry to cut the cost of their services.

The most promising alternative methods today are mobile operators and social networks or me ...

MOST POPULAR

To read this article, create a free account

Already a member? Log in


Annual Subscription

12-month access to 10,000+ insights, research reports, a database of 13,000+ FinTech companies, and a live global community.

$26/mo

TRY FREE FOR 7 DAYS

SKIP TRIAL

instant access to reports and global community along with donation to COVID-19 fund.

Quarterly Subscription

12-month access to 10,000+ insights, research reports, a database of 13,000+ FinTech companies, and a live global community.

$49/mo

TRY FREE FOR 7 DAYS

SKIP TRIAL

instant access to reports and global community

--------------- Reasons to buy ---------------

Understand the “Why” Behind the “What”

MEDICI offers data-driven, original, unique, and forward-thinking content to understand the “why” behind the “what”

10,000+ insights, 100+ research reports, and 1,000+ videos based on data, collected and processed by top-in-class researchers with over seven years of experience in the financial service industry.

Actionable Insights

We do not stop at the data; we analyze it and extrapolate actionable insights that shape and forecast market trends. All of our pieces are neutral, authentic, and unique – this means that you can’t read them anywhere else!

Data Visualization

We do also care about design. It’s why our infographics are the most-used ones in company reports and the most shared ones on social media.

Growing Proprietary Database of 13,000+ FinTech Companies

We have one of the largest databases with more than 13,000 company profiles listed across 60+ verticals! The database contains primary data collected in two ways:

Through our Global Listening Engine – a proprietary algorithm able to extrapolate and collect data across numerous sources

Directly from FinTechs – thanks to the onboarding flow through which companies can list themselves on the most used database for venture capital in the industry

Join the Largest Global FinTech Community

You will be added to our private WhatsApp Channel with more than 200 FinTech leaders across the globe, where we engage in discussions around various financial services topics daily. After a few clicks, you’ll get to know the whole community, including the MEDICI team – you can ask questions, suggest topics, and get behind-the-scenes insights

Q&A

What is MEDICI Inner Circle™?

MEDICI Inner Circle™ is the membership you need to freely access all MEDICI content, which includes insights, research reports, videos, startup knowledgebase, and the members-only community for live engagement.

What topics do you cover?

We cover more than 60+ sub-segments in FinTech – but we do not stop there; we also cover topics beyond FinTech, such as InsurTech, RegTech, PropTech, WealthTech, BankTech, AgriTech, and the enabling technologies enabling innovation such as AI, Blockchain, etc.

What do I get if I buy the membership? Is there a difference between being a free subscriber and being a member?

By becoming a member, you will unlock all the content on our website. A free subscriber gets access to only 5% of what we publish on the web-site. Paid members also get preferred access to our live events, and exclusive access to the members-only community for live digital engagement.

Do you have a discounted plan for students?

Yes. Please write to us at innercircle@goMEDICI.com.

Do you have an enterprise plan for corporates or groups?

Yes. Please write to us at innercircle@goMEDICI.com.

Do you offer refunds?

We offer a 7-day free trial during which you can access all of our data, insights, and analyses. You can cancel the subscription any time before the end of the free trial period. However, we do not offer refunds.

Unlock this article by signing up for MEDICI Inner Circle

--------------- OR ---------------