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STARTING AN E-COMMERCE WEBSITE IN TRINIDAD & TOBAGO, PART 3

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STARTING AN E-COMMERCE WEBSITE IN TRINIDAD & TOBAGO, PART 3

UPDATE MARCH 2013: PLEASE NOTE: One of the major issues covered in this article
series, that of payment processing has been favorably resolved. See article:
Finally An Online Payment Solution For All Of Trinidad & Tobago.


In Part One of this series I talked about the options available in Trinidad &
Tobago (and everywhere else for that matter) for someone wanting to establish an
online business. In Part Two I talked about the current problem as pertains to
the absence of local payment processing in TT Dollars (which has been partially
solved with the Electronic Transactions Bill 2011 which was passed by the T&T
Senate) and the only option to continue to use US based payment processors in
the foreseeable future.

Now in Part 3 I’ll discuss how to go about signing up and integrating their
payment processor into their website to actually make some money (isn’t that
what E-Commerce is about?!) and a few other factors to bear in mind. I’ll also
touch on the other creative ways Trinis are using the E-Commerce model for our
local market.

Okay, here goes:  you have products to sell online, now what?

 1. Choose between a shopping cart service (ongoing fee) or ‘built for
    E-Commerce’ website (one time cost) [See Part 1]. Remember, building the
    website to showcase your products to sell is the easy part.
 2. Open your business bank account at a Trinidad & Tobago bank as the US based
    payment processor will need to link it to the account you create with them
    to deposit the sales proceeds from your online customers when they checkout.
 3. Sign up with a US based payment processor, popular ones in Trinidad being
    2Checkout, Authorize.Net and the ubiquitous PayPal.
 4. Integrate the payment processing account info into the website so that upon
    checkout their service is activated (done by your webmaster).
 5. The processor collects the order payment in US Dollars, regardless if you
    display your prices in TT Dollars, keeps their processing fee (typically
    between 3%-5% of the order) then remits the balance to your bank account in
    Trinidad & Tobago.
 6. Even though you use a 3rd party processor you may still need to offer your
    customers some visible sense of security that their personal information is
    safe and your website is secure. This means the presence of a security
    certificate or SSL like VeriSign, GeoTrust and others.

Do you absolutely need an SSL certificate?

The Secure Socket Layer (SSL) protocol was created to ensure secure transactions
between web servers and browsers. The protocol uses a third party, a Certificate
Authority (CA), to identify one end or both end of the transactions

As long as you’re using a payment processor, for example PayPal or 2Checkout
(which you will be) your website will forward your customer straight to their
site to enter their credit card information, so the short answer is no. Your
website won’t be touching their credit card details so for this reason you won’t
need an SSL Certificate.

However, this does not mean that don’t need one as protecting credit card
information (via Data Encryption) is only one function of an SSL Certificate.
The other is Authentication and Validation of the business and website which
would assure your visitors that your site is secure and their personal
information is safe with you. A customer may register on your site and not
necessarily make a purchase so only offering security at the checkout stage may
not be totally reassuring. But it doesn’t mean that your site poses a risk if
they’re just browsing like on any other site.

So that’s Part 3. FYI, the keywords ‘e commerce in Trinidad’ and ‘e commerce in
Trinidad & Tobago’ and other variations send a large number of visits daily to
my site as both E-Commerce articles Part 1 and Part 2 rank in the first 2 pages
of Google T&T. Then I also get many phone calls asking about it which means that
Trinis recognize that there is money to be made online. To this I say NOT SO
FAST with that perception. Please do not get too excited about the potential.
Yes the potential is there but the sad truth is that the majority are not going
to make money in my view and it’s not because they don’t have a good idea or
good products. But that’s Part 4, sorry!


February 3, 2012 / Articles, E-Commerce, Featured Posts
Like this post!

ABOUT THE AUTHOR




ADMIN

I am Zaf Rahaman, owner of Forward Multimedia, a Trinidad based website design
company now in its 10th year. Through my experience acquired on the ground since
2011, I’ve become known as one of the foremost authorities in E-Commerce,
especially as it pertains to Trinidad & Tobago.

I began writing blog articles on various topics after observing the lack of
online information about local E-Commerce. These articles quickly propelled the
Forward Multimedia to the number one position on Google for all major industry
keywords, a position consistently held for the past few years without challenge.

In 2018 I was an invited panelist in the annual Trinidad and Tobago Internet
Governance Forum. Also in 2018 I was an invited speaker for the launch of the
Virtual Caribbean DNS Entrepreneurship Center (VDECC) an initiative of ICANN-
the Internet Corporation for Assigned Names and Numbers, the international body
that that coordinates the Domain Name System (DNS) worldwide.

I was also a stakeholder consultant for the Ministry of Trade & Industry’s
National E-Commerce Policy which was passed in December 2018, with many of my
recommendations making it to the final policy.

Most of all, I love to write AND love to write on everything website and
E-Commerce related to help business owners in Trinidad & Tobago get the most out
of their online presence.

ALL articles and pages on my site are written by me, in my voice, from the
ground up, and for you, from a Trini perspective, using local examples and
applications.

COMMENTS (6)



 1. Zaf – June 28, 2012 - 4:05 pm:
    reply
    
    It’s an option worth evaluating so do your due diligence, sounds okay
    though.
    
    
    
    
 2. Jordan – June 28, 2012 - 10:40 am:
    reply
    
    lol sorry for my terrible spelling, I should really review them and make
    corrections!
    
    
    
    
 3. Jordan – June 27, 2012 - 9:47 am:
    reply
    
    Very good, well written/informative article. I’ve landed on your blog
    because i’ve spent all day researching payment processing solutions for
    Trinidad and Tobago merchants. Basically my dilemma is choosing the correct
    payment processing. Ideally i would love to have an Authorize.net merchant
    account but it appears to be only available for us based businesses. Paypal
    on the other hand offers worldwide support. (they say you can send, receive
    and withdraw money to a us bank account or visa card issued in trinidad and
    tobago).
    
    This seems all great, but i’ve been reading alot of horror stories about
    paypal limiting accounts for various reasons, and one way of reducing the
    risk of getting “limited” is to “verify” your paypal acocunt, and to do so
    you must link it to a us bank account?
    
    FINALLY TO MY QUESTION**
    
    You mentioned in this post that you can “open up a local business bank
    account and link it to paypal” Is it really that straight forward? How you
    had any person experience in doing so? If it is… then this is GREAT news. As
    I am in the planning phase before launching an educational website, offering
    premium content to paid members, and resolving this issue mean i can now
    focus onn other aspects or the website. Thank you
    
    
    
    * admin – June 27, 2012 - 10:29 am:
      reply
      
      Thank you for your comments. To answer your question:
      “You mentioned in this post that you can “open up a local business bank
      account and link it to paypal” Is it really that straight forward? How you
      had any person experience in doing so?”.
      
      I don’t see where I said this directly in the article but perhaps that’s
      the impression conveyed in my points 2 and 3 so let me clarify this. You
      can only ‘link’ a local bank account to sign up with Paypal via your local
      credit card and that’s the extent of the link. Now that you have a Paypal
      account you can receive money in your Paypal account but won’t be able to
      transfer it to your bank account for precisely the reason that they only
      verify US based bank accounts.
      
      While you still have access to your funds it still isn’t a convenient and
      bona fide option for a regular business. I can say this as I personally
      have a local credit card (with RBC Royal Bank) and used it to sign up with
      Paypal. I’ve billed my US based clients by sending Paypal invoices and
      received payment without issue. Though I can’t withdraw the funds I use it
      to purchase website related items- templates, stock images etc. so it
      works for me.
      
      To receive payments on your educational website you can do 2 things: open
      a US based bank account for Paypal so you can transfer funds from Paypal
      to your bank account, or use 2Checkout which supports transfer to a
      Trinidad based bank account. Case in point, one of my recent clients did
      the same and you can see it in action: TnT Bamboo Online. 2Checkout is
      also used by Trinidad Express for their online classifieds.
      
      If you have anymore questions feel free to contact me via my contact page.
      
      
      
      * Jordan – June 27, 2012 - 3:43 pm:
        reply
        
        Sorry for quoting you incorrectly, I was only saying it in my own words.
        (i forgot what the purpose of a “quote” was) But in anycase… thanks alot
        for the tip. Really helpful 😉
        
        
        
        
      * Jordan – June 28, 2012 - 10:36 am:
        reply
        
        So i’ve looking into 2CO, any buy the looks of it, its a horrible
        payment processor. 1 star reviews all over the internet, plus the
        company itself seems very amateur. So I still cant decide. I got an idea
        though, I’m currently in the UK planning to head back in next month…I
        was thinking maybe i can open up a bank account here, and use it to
        verify my paypal account, then just do my business banking online when
        im home (in T&T). What do you think?
        
        
        
        
      
    

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