Payment Processing Services



Payment Processing Services may be carried on in or from within Belize by obtaining a license from the Director General of the International Financial Services Commission. The company or corporate entity must have management with the requisite knowledge and expertise of the business of payment processing services to be carried out and have at least one director resident in Belize. The company must retain an attorney-at-Law or Licensed International Services Practitioner resident in Belize to make the application for a license that person must conduct a proper “due diligence” on the application before submitting it to the Director General

A company that carries on Payment Processing Services in or from within Belize pays no taxes on profits so long as all its services are provided outside of Belize.


What is Payment Processing Services?

A Payment Processor is a third party company merchants and merchant banks utilize to process credit card transactions. Processors, also known as acquires, are responsible for the allocation of funds between businesses and consumers. They supply pre-authorization, post-authorization and refund services for businesses accepting credit card payments. Payment Processors are generally a type of financial institution distinct from the bank. The bank acts as the processing underwriter (assumes the risk). Most banks do not handle their own credit card processing since it is more cost effective to hire a processor to do it for them. The easiest way to become a payment processor is to partner with an underwriting bank.