I'm starting an online business that is essentially a booking service for restaurants around the world. Diners will be submitting payment through our website for dinner and we will forward payment from the dinner to the restaurant.
It would be best for the diners if they were able to submit payment in the same currency as that used in the restaurant.
Obviously I will need an on-line debit/credit card payment processing system. What sort of banking facility is available that would support a large number of different currency transactions both from customers and to our restaurants?
Or should i be looking at incorporating something like hoopay as an intermediary between customers and our company account? p.s.
REPLY:
Please contact us at info@freemontgroup.com Freemont Group
REPLY:
Hi, I would suggest that you need a multi-currency banking facility allied to a third party multi-currency merchant facility. This will allow your clients to order via your web site and pay funds in their or the restaurants local currency and for this be received by you in that same currency, rather than it having been exchanged already, which may cause you some problems and potentially cost you money in exchange losses. You may then pay out from your multi-currency account in any currency to the restaurant and retain your profit element in whichever currency is most favourable for you. You may wish to do this via an offshore corporate structure with offshore banking or simply arrange a multi-currency account for your existing company. Either way we can assist you.
Please feel free to contact us on enquiries@turnerlittle.com or via our web site at www.turnerlittle.com
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