For the past several months I have been searching for decent Merchant Account options for credit card processing of North American Sales.
I have been to ICBC, Citibank, Cathay, and Taishin. All of the above only offer cc processing in NTD, which is a shame. Anyway I had applied with Cathay however they denied the application as we don’t do alot direct advertising in our markets (most sales comming from word of mouth). After that I found out from Citibank that Taiwan law requires that for any merhant account 80% of cc transactions must take place on island! I have also searched the net for offshore merchant accounts however fees start at 6% not to mention the high start up fees.
Has anyone found a better solution?
Until then my fustration with Taiwan finance laws continue. ECCT and Amcham Taipei, where are you on this issue?