Ecommerce Business Models are a broad topic, but I am going to do my best…
Many aspiring dropshippers ask if one can open a stripe For Non-Us Residents for their ecommerce business.
So can you open a stripe for non us residents?
Unfortunately, Stripe is not currently available for businesses outside the US, but in this guide, you will learn how to get a stripe account approved even if you don’t live in the US. If you’re a non-US resident, you’ll need not look for a stripe alternative payment processor.
It’s a common problem for online businesses – you want to accept payments from customers worldwide, but setting up the infrastructure to do so can be challenging.
If you’re a non-US resident, finding a payment processor that works for you may be challenging.
Stripe payment gateway is a popular processor for US businesses; what about those who don’t live in the States?
A lot has changed. As you all know, Stripe has upped their game; when they read these tactics online, they upgraded their system hence the recent cries of limitation accounts, especially those who successfully applied the method I shared above.
This post gives you quick setup documentation specific for international sellers who use Shopify for their drop shipping business but find it hard to run the business from their respective countries due to payment processor gateway challenges.
So I will take you through how to set up a Shopify store and how you will get your Shopify payment gateway done the right way.
Suppose you are active members of any dropshipping business Facebook groups.
In that case, you know how many store owners post about their store being on hold or limited by payment processors like PayPal, Stripe, and even Shopify payment themselves.
I hope you are getting something ready to learn how to make Shopify Payments available for your customers.
It happens more frequently if you are dropshipping and term it a high-risk business due to chargebacks and refund-related issues.
But just like you, I wonder why Shopify platforms promote drop shipping, even advertising the business model on Facebook, yet they are the first to simultaneously have your account on hold.
To my international sellers, we have to make ends meet. We have no idea how long it will take for this e-commerce giant to start thinking of integrating payment gateways that favor us from the ones that suck already.
Do you need Shopify Payments?
Why is this process vital for your Shopify dropshipping business?
I assume you are non-US citizens or any other European country. If you are an international seller, you must adopt this method to get paid the profits you accrue through your online product sales.
There are several payment processors available for Shopify, but funny enough.
Almost all of them don’t favor you as an international seller who doesn’t have access to EIN/BIN or SSN to have a US bank account.
So the ones available on Shopify will force your customers to finish the checkout in a new browser tab instead of completing the checkout process while still in your store.
A typical example of a payment method that takes customers out of your store is a 2checkout, and it takes the customers to a new page for the purchase to complete.
Few customers will finish the conversion more if they redirect to another page regarding online transactions.
We are dealing with sensitive information here; who would trust a payment gateway they’ve never heard of, whereas they are only used to the likes of Paypal?
This redirecting hurt a lot of conversions.
When looking for a payment processor as an international seller, you need processors whose rates are pretty considered to the rest.
Most sellers lose a lot of cash when it comes to processor rates and currency conversion rates.
It would help if you had a processor that would offer you a reasonable exchange rate.
You will be using USD as your default currency on your store unless otherwise; hence working with a processor that provides fair currency conversion rates is way too good not to sign up with them.
I understand that some international sellers have to manage to get their merchant accounts and payment gateway.
Well, and good, this article is not meant for you since my target is to address those in the business who cannot operate smoothly due to payment gateway issues.
When we were nearing a processors’ solution, Shopify plugged the surprise on us by removing one of its essential plugins, NMI, responsible for a third-party payment gateway that payment processors like Bluesnap heavily on to offer international sellers solutions.
It’s no more, and Bluesnap can no longer integrate into the PayPal platform.
So, today I share with you the newest, proven method to go around dropshipping and getting paid as an international seller on the Shopify platform.
STEP 1: SET UP YOUR FREE PAYONEER ACCOUNT
To start us off, if you don’t have an operative Payoneer Account Use this link to get a free $25 when you sign up:
Why do you need a Payoneer account at this stage?
Besides the reasons we started with, you still need Payoneer for a few significant other reasons.
As an international Seller, you have a few, if no other, ways to set up a local US account from your respective country of residence without setting foot in the United States.
Having a verified Payoneer account, you can own a virtual US bank account because Payoneer is in an exclusive agreement with Bank of America to enable you to enjoy this freedom.
Are you maybe asking yourself why you need to have a US bank account?
It would be best if you had it to sign up and operate your store with a Stripe account; it’s a mandatory requirement.
When you have a Payoneer account, it’s effortless to wire cash to your local bank account; Payoneer gives you the option of linking your bank account.
The second reason this is so great is that you can connect your local bank account to your Payoneer account.
This means you can transfer your money from your US account to your Payoneer wallet and then from your Payoneer wallet to your local bank account.
What makes a Payoneer account one of the best solutions for international sellers is that besides having the best features, it also has the lowest exchange rates on money transfers from your default store currency, USD, to your local currency.
This is important and very helpful since it allows you to keep the money you made with the slightest difference in exchange.
Using Payoneer, you can open a personal or business account, but you don’t need a business account if you don’t want to. You can operate with a personal account, and it works just fine.
STEP 2: Connect Your Local Bank Account
Once you’ve completed the first step of signing up on Payoneer, you need to connect your local bank account for an easy cash transfer.
Payoneer has a lot to offer for international sellers who are dropshipping using Aliexpress to Shopify’s business model.
STEP 3: Setting An LLC Business In The US
It’s time to get your valid business name; as part of setting up Shopify Payments, getting LLC in the US is essential, and you will see the advantages of having an LLC.
You need to set up LLC because you can connect it to your Shopify account and the US bank account to your online Shopify payment section on your store.
If you need to run an honest business, you should consider registering an LLC. Getting an LLC is one of the steps required if your dream of using Shopify Payments is still one you think about.
I know you are asking yourself now that you have a virtual US bank account, LLC, and Payoneer; what comes to taxation?
Well, I have used the same method I am sharing with you now, I know you don’t need to pay tax, but you will have to get taxed in your respective country after you’ve earned the payment into your local bank account.
Regarding Tax, I am not an expert but can roughly advise, but this will depend on your country of origin.
What I love the most about having an LLC, it is not limited to the number of stores; you can create as many stores as you want. It acts as an umbrella for many stores.
Your LLC can do business as usual if you have heard of that term abbreviated DBA. The same way you see one LLC presented in different business entities, just like KFC and Taco, are some of the leading fast-food restaurants but operate under one LLC umbrella called YUM LLC.
I would advise you to choose a brandable LLC name that is broad enough to accommodate any business you may come up with in the future.
How to create your LLC
But why Delaware?
Well, it’s a smart move to incorporate your LLC business. There is more to you as an overseas business owner; they’ve shared a lot of information about their website and services; read more on the above link I provided you earlier.
Ready? Head over to their site and fill in your LLC Name (company name) and personal details, and then hit on the GREEN tab, the GREEN PACKAGE for $179.
The last time I checked, it was around $279. It seems they are running some discounts as I was writing this guide.
While still on the page, adding or checking the FEDERAL EIN Services is essential for an extra $95. This is very important and way more effective than calling IRS directly, which is no longer working.
Shopify Payments: How to Get EIN
For international sellers, getting a social security number SSN is impossible. EIN will act as your SSN; hence very important not to skip this stage.
When using Delawareinc, they will be able to get your EIN when you click the” DO NOT HAVE EITHER SSN?ITIN while making your application.
During the sign-up, you must indicate your” Principal Place of Business, ” which means your local business or company address, and you can also use your address.
You also need to indicate if you have any job offers in the US in the next 12 months.
If you’ve followed the above, you are done, confirm the order, and your LLC documents will be sent to you within a week.
Step 4. How To Create Your Stripe Account
This is the easiest part apart from signing up for a Payoneer account.
To get the account, head over to the stripe website, fill in your details, verify your email, and boom, you are good to go.
The next step would be to fill in your SSN (Social Security Number). Since you don’t have SSN, you need to key in the four digits of the EIN you received after the application.
At this stage, expect an email from Stripe saying they can’t confirm your identity, don’t worry. Just reply to the email and tell them you are not a US citizen using a registered company’s EIN.
Next, you will be required to verify your ID and LLC company information.
But this will be taken care of since you have a US company, and Stripe will automatically get you verified.
Now that your stripe account is set up and verified, you will need to set up your business setting.
You need to use the LLC info and address provided by Delawareinc during the application, which I assume you now have the documents sent to you already.
STEP 5: Connecting Your Payoneer Bank Account To Stripe
While in your Payoneer account, click the Global Payment Service area, and you can access your virtual US bank account.
You need to sign up to use Shopify Payments in your store. There is no shortcut to this.
So, in your Stripe account, you will see a section where you need to fill in your banking details, thus the spot you need to fill in your US virtual Bank account.
It’s simple, and you are ready to go; you should be all confirmed and gear up now to use your stripe payment gateway and have it linked to your Payoneer account.
STEP 6: Connecting Your Shopify Store
In this last stage, you must connect your Shopify store to the newly approved stripe account for stripe payments.
Shopify account head over to the setting tab, click on payment providers or underpayments, and then choose” stripe “from the menu drop-downs and activate it.
When you are not logged into the stripe account, it can redirect you to log in before activation, but just if you are logged in will be detected automatically and confirmed right away.
Then you’ll be all set to start receiving payments with Stripe on your Shopify store!
Shopify Payments Conclusion
If you have tried the above, I hope you are about to launch or use this method for your Shopify business.
Have you learned anything new about Shopify Payments and how to go about it? Well, share your thoughts on the same and also your experience.
Suppose you’ve used it before.
If you are looking for a Shopify expert to help design a professional-looking store with hot-selling products, hit me up.
If you were looking for either Shopify Payments alternatives or how to beat Shopify and use Shopify Payments without their knowledge or dodge the account limitations, there you have it!
If you doubt whether you can do this on your own or not, don’t worry; I help clients with the entire process; inbox me on Facebook.
- Drоріfіеd Review: Your Dropshipping Shopify App.
- How To Create a Newsletter For Your Dropshipping Business
- Best Ecommerce Platform For Dropshipping (Explained-2022)
- What An Ecommerce Platform Should Have In 2022
- What Ecommerce Means (Electronic Commerce Definition- 2022)
- How To Get Instagram Verified Badge: Free Hack In 2022
Kindly share it with your friends. Especially the ones you believe need this information. Sign Up Now and Get 14 Days Shopify Free Trial
Sharing this information with others can make a huge difference. You may ask why.
Well, the truth is, my main aim is to provide the best information about drop shipping for both beginners and experienced dropshippers.
And I plan to continue doing so for as long as I can.
I would also like to thank those who support my work by reading my content and sharing it.
Trust me, when you take your time and share, it will help a lot, not only for me but also for others who may need this information.
Here are some great suggestions:
- Pin it
- Share it on another blog
- Share on Facebook (Share it with friends and even on Facebook groups)
- Tweet it
- Stumble it
This will only take a few seconds of your time, and I would appreciate it.
I appreciate you a lot. Thank you!
Join my Shopify dropshipping group mastermind and follow my blog to learn more about Shopify tips, dropshipping guides, dropshipping tricks and checklists, and e-commerce in general.
If you enjoyed and learned something from this post, you can get me updates for free!
I send out email newsletters about new posts published on the blog, tips and tricks to help you grow your dropshipping business, new YouTube videos to give you more insights about the e-commerce market, and much more.
If you enjoyed reading this, you could as well join my Facebook group. Thank you for reading how to make money dropshipping online from the comfort of your home.
Click The Image To Join My Facebook Mastermind Group