First Atlantic Commerce (FAC)Bermuda 250+ Get Quote
First Atlantic Commerce (FAC) is a leading global, online payment solutions provider. FAC is headquartered in Bermuda and was established in 1998 to create secure card-based payment solutions for online businesses.
FAC provides merchants with multi-currency payment solutions, tokenization services and PCI validated Point to Point Encryption solutions. As well, FAC provides merchants and banks with fraud management services including AVS-only, CVV, 3-D Secure™ and Kount’s fraud control system, in multiple jurisdictions across Europe, Mauritius, India and the Latin American Caribbean Region.
FAC’s processing platform, cGate, is a feature-rich payment system. Ideal for merchants with high capacity transaction volumes, it is a fast and secure, platform-independent, online payment gateway. Integrating cGate to their online shops enables merchants to offer a range of multi-currency credit card options at checkout, including Visa, MasterCard, and American Express. Depending on the bank and jurisdiction, other cards, such as Discover, Diners Club and Union Pay, are also available.
First Atlantic Commerce tailors its payment and fraud management to the specific needs of their merchants. Their pricing structure is composed of a transaction fee, with quote pricing in tiers according to transaction volume, with a minimum charge or 180 USD per month. Additionally, a one-time integration fee is charged. Bank charges must also be taken into account, which include merchant discount rate, and in some cases, a transaction fee. To cover chargebacks, most banks require a rolling reserve of 10% to be held for 180 days.
In 2016, First Atlantic Commerce launched 3 plugins for WordPress WooCommerce shopping cart platform. The extensions allow online store owners to accept payment from their WordPress websites and have the funds directly deposited into their merchant accounts for the following countries and currencies: Bahamas, Barbados, Belize, Cayman Islands, East Caribbean, Guyana, Jamaica, and Trinidad.
The FAC Shopify plugin, developed by Webgold, allows merchants from Caribbean and around the world to accept payments from their Shopify website via First Atlantic Commerce. The plugin extension was developed for FAC’s hosted payment page and supports 3D Secure authentication, including Verified by Visa and MasterCard SecureCode.