Hi Guys,
I would appreciate if someone can help me understand what needs to be done here. I incorporated a C Corporation using Stripe Atlas so I already have a stripe account which can be used however I run a software consulting firm and I want to use that for a subscription based SAAS startup we are working on. I want to start a drop shipping store on Shopify as a side hustle to see if it is profitable and then eventually move to sourcing the product myself. I am planning to incorporate a separate LLC in Wyoming for this but I am not sure how to get a merchant account to accept payments on my store ? I am not based in US and searched through the forums to see what others as doing as I know a lot of people have Delaware or Wyoming based LLC with US bank account, EIN and address. Can someone recommend a merchant which accepts non US based llc owners? I found one called PayKings but they do not mention drop shipping as "High Risk" and a review on BBB states:
They are extremely shady. They will push a TERRIBLE deal on you repeatedly, and if you question it they’ll act like you’re stupid or you don’t understand. I can do simple math, but they cannot. Apparently ALL new businesses applying for ecommerce accounts have to agree to 20% of your monthly being held for the first 6 months of your contract. If you go a day without processing, they’ll just take 40% the next day. If you have a slow month, they can take up to 100% of it. They said I ‘don’t stand a chance’ being approved otherwise. For a “high-risk” merchant company, they should know there are better deals out there that don’t screw new business owners. They should also know that I was approved by 2 other “high-risk” banks without any reserve, just by going to them directly rather than working with a shady middle man like PayKings. My guess is they get a fat commission by pushing a terrible deal on you, and they try to convince you it’s the best deal you’ll get anywhere. So, if you’re cool with getting lied to, sign up with PayKings. Otherwise, literally any other option will probably get you a better deal.
Any help in this regard will be highly appreciated.
