E-commerce has become a crucial payment channel for both online and brick-and-mortar businesses, and its use is beginning to grow across the Caribbean region. More importantly, a critical element of the ecosystem that underpins an e-commerce facility is available in the Caribbean, in the form of CX Pay, an payment gateway provider located in Curaçao. In our conversation with Luis Santine, of CX Pay, we discuss, among other things: what might be limiting the roll-out and use of e-commerce by Caribbean businesses; what he thinks of PayPal, plus alternative online payment options that do not require credit cards which businesses could consider.

 

Episode is also available in Apple iTunes and on Stitcher!

The ability of businesses to accept payments online has opened up considerable opportunities, particularly among micro, small and medium enterprises (MSMEs), and has ushered in innovative ventures that could not otherwise have existed. Unfortunately, across the Caribbean region, it is still extremely difficulty – both in terms of cost and complexity – to secure an online merchant facility through the local banks, through which electronic (e-) commerce services can be implemented. As a result, e-commerce is not as developed as it should be in the region, which without a doubt, continues to hinder innovation, and the ability of regional businesses to successfully engage the global marketplace.

Having said this, the Caribbean’s online payment ecosystem is developing. CX Pay, which located in Curaçao, and is part of the Dutch Caribbean, is a payment gateway provider – a crucial component in the e-commerce process that facilitates the processing of payment transactions made online.

Luis Santine

In this episode, we had the opportunity to speak with Luis Santine, the Founder and Managing Director of CX Pay, on his company, but more importantly, e-commerce in the Caribbean. Below are some of the topics our discussions covered:

  • Explaining what CX Pay is, what it does and the services that it offers.
  • Outlining how an organisation can secure CX Pay’s services
  • Highlighting who are CX-Pay’s customers, and where they are located
  • Discussing who might be CX Pay competitors, and how the organisation has been able to differentiate itself.
  • Luis sharing his opinion on possible reasons why Caribbean businesses experience difficulty in securing online merchant services
  • Discussing what it might take to get more Caribbean businesses using e-commerce
  • Some of the e-commerce trends Luis has been seeing in the Caribbean
  • Whether the GDPR (General Data Protection Regulations) had any impact on CX Pay, and it potential impact on e-commerce?
  • PayPal, and what might be some of other payment alternatives that are available, besides those requiring credit card
  • Luis’ advice to a Caribbean business that is looking to secure e-commerce/online merchant services.

 

Select links

Below are links to some of the organisations and resources that were mentioned, or could be useful:

 

 

Image credits:  pete (flickr); L Santine

Music credit:  Ray Holman