Merchant Account for Act 60

Puerto Rico has become a popular hub for FinTech and E-Commerce companies. The local tax incentives attract organizations to move their operations to the island. It is estimated that close to 2,000 companies have relocated some of their operations to Puerto Rico in 2021. Most of these businesses are e-commerce companies.

E-commerce organizations often require online payment processing. MagicPay provides merchant account for Act 60 merchants in Puerto Rico. Additionally, we can provide payment processing to to any other entity in Puerto Rico. Systematically, a merchant account for Act 60 business owners would enable credit card processing worldwide. Moreover, the settlement can be to a local bank in Puerto Rico.

Relocating a business to Puerto Rico is challenging enough. As a result, we have simplified the payment processing aspect of the move. Merchant accounts for Act 60 (previously called ACt 20/22) entitlements is now simple and transparent. Whether your business is e-commerce, crypto related, drop shipping, fulfillment center, or any other online related, MagicPay can help.

MagicPay services a variety of card-not-present industries. Moreover, this allows Act 60 merchants to take payments online, on a virtual terminal or on their website. Generally, our plaform is suitable for B2B and B2C merchants. Moreover, our merchant account for Act 60 is adaptable to your needs. Additionally, we offer a variety of integration types including an API and SDK.

Additionally, MagicPay integrates with all major shopping carts. We support Shopify, WooCommerce, BigCommerce, Magento and many more. For a full list of supported shopping carts, vist our payment gateway page.

MagicPay processes payments to hundreds of Act 60 merchants. We listened to what our customers requested. Moreover, we heard the needs for a solid merchant account for Act 60 businesses.  Lastly, the need for an easy, simple and straightforward processing platform is now fulfilled. We made sure our program covers all major Act 60 industries, including:

• Nutraceuticals
• Dropshipping
• Fulfillment Centers
• Call Centers / Telemarketing
• Pharmaceuticals
• Financial Services
• Software Downloads
• Education / Courses / Seminars
• Crypto Related
• Money Service Businesses
• MLM’s
• Subscriptions

Above is just a partial list of the industries we serve. Moreover, our underwriting team is flexible and understands the uniqueness of Puerto Rico merchants. Our goal is to make sure you have a stable and reliable merchant account for Act 60.

It is imortant to emphasize that MagicPay services other merchants. Additionally, aside from servicing all 50 states, MagicPay provides payment processing in Guam, the US Virgin Islands and Puerto Rico for locals. Our platform is unique and adaptable.

In Puerto Rico, MagicPay is certified by the Treasury Department to provide IVU Control services. As a result, such services are essential to restaurant and hospitality merchants. This allows our merchants to stay in full compliance seamlessly. Additionally, it allows our small to medium size business owners to take advantage of the Reduced State Tax. Hence, providing an additional 4.50% discount on Sales Taxes for prepared foods.

In the US Virgin Islands, MagicPay works with major retailers and hotels to ensure stable and reliable payment processing even on the most remote locations, such as Lovango Caye and St John. Moreover, we provide weather proof payment processing technology that can work in severe weather conditions. Strategically, this provides a solid processing solutions to supermarkets and allows them to run business as usual after severe storms. As a result, supporting local communities accessing EBT and additional digital payments when cash is scarce.