Opening online platforms for international sales
From "Suggestions to stimulate economic recovery for Bermudians once Shelter in Place ends"
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Currently Bermudians, based in Bermuda, wishing to sell on Amazon cannot as our banking institutions don't allow us to accept payments from the organisation. In order to do this at present one has to have a credit card in one of the appointed countries such as the US or UK to name only two. But if Bermuda was added to the country list on Amazon, product designers, of which there are many, could get their items produced overseas in jurisdictions where the cost of living is lower and then be able to sell worldwide on this platform. Another idea is for Bermuda to be able to receive payments into our bank accounts from PayPal, Google Pay and others. Currently we can use Paypal to purchase items and receive payments, but then we are not able to turn those payments into actual usable cash in our local accounts. In my opinion this would stimulate growth for those that want to use e-commerce as a way of earning a living or for building a business. Also our bank's merchant accounts are limited to accept payments from either Visa or Mastercard only, but this does not assist when potential clients want to pay with Maestro, Discover or American Express....