
Yesterday I had a meeting with TAP, (the local electronic payment company) since they wanted to let me know of some new things they’ll be introducing in a couple a months time. I can’t disclose any of it for now but while meeting with them I did manage to get some details on their current services. To be truthful, I wasn’t a fan of TAP before my meeting and that’s mostly because of the ridiculous no desktop browser rule they had in place. Basically on more than one occasion when I wanted to pay for an item using their service, the link the seller provided wouldn’t work from my computer. Turned out their service would only work when using a mobile phone browser and I thought that was the dumbest thing ever. There was no technical reason for it, they just decided not to allow people on desktops from using their service. Not very practical especially when I would link to workshops on my event page that required TAP payments. Thankfully, this annoyance will be solved with their upcoming updates.

With that rant out of the way, what I wanted to write about in this post is how their payment system is actually really great for home and small businesses in Kuwait. When I was starting a company and wanted to setup a payment system for an online store, the fees involved were ridiculous. Firstly you needed to be an officially registered business which means home businesses couldn’t setup an online payment system. Secondly the cost involved was just too high, depending on the bank you would pay a setup fee of around KD750 (KD1,000 in some cases), then a monthly fee ranging from KD25 to KD50 depending on the bank and then on top of that a charge per transaction, 1% for debit cards and 3% for credit cards. So if you’re just starting up those fees could be pretty brutal.
TAP on the other hand offer two services for home and small businesses and in both services you do not have to be an officially registered business.
GoCollect
The first service is called GoCollect. Say you have an instagram account and you sell cupcakes out of your home, when someone places an order with you through whatsapp, you would provide them with a link that will send them to the TAP website where they could pay you either with a debit card or credit card. There is no setup fee for this service and you can sign up to it from the TAP website. You could be up and running in less than 24 hours. TAP make their money with transaction fees, they charge 200fils 2.5% per debit card transaction and 3% for credit card transactions. TAP gets your customers money and then deposits it into your account. You don’t have to be dealing with a certain bank either, they work with all local banks.

GoSell
The second service they offer is called GoSell. This is for small businesses that have an online store. Say you’re selling tshirts and you created an online shop using one of the online services like Shopify, Magento, WordPress or whatever, TAP would provide you with a plugin (or API for pros) that would allow you to integrate their payment system with your ecommerce website. They charge around KD300 to set this up for you, maybe a bit less, maybe a bit more depending on the size of your business and then like with GoCollect, they charge 200fils 2.5% per debit card transaction and 3% for credit cards. No monthly fees.
If you’re a home or small business or thinking of starting a business then this is currently the easiest way to setup a payment system. If you want to find out more you can visit their website for more details [Here]
Update: I was informed by TAP to replace the 200fils debit card transaction fee in my post with 2.5% since they don’t have a fix rate. Depending on the size of your business and your negotiation ability the debit card transaction fee could be 200fils, could be 1%, could be 2.5% etc.. it varies