Instabill has long provided credit card processing for tobacco merchants. With less restriction on the US trade embargo against Cuba, Instabill is working hard to offer Cuban cigar merchant accounts to tobacco entrepreneurs looking to capitalize on renewed relations between the two countries. As of Friday, Jan. 16, the US and Cuba became open for wider trade, which includes Cuban cigars and alcohol, the use of Visa and MasterCard without spending limits, and less restricted travel.
Though only US Congress has the sole power to lift the embargo completely, the eased restrictions on trade relations, originally announced Dec. 17, mark a momentous time in the US economy.
E-Commerce Opportunities With Cuban Cigar Merchant Accounts
According to a recent article on BBC News, internet penetration in Cuba is woefully small – estimated to be only 5 percent. That paltry figure is expected to skyrocket as US and Cuba economic relations improve. It also presents huge opportunities for e-commerce merchants everywhere, particularly Cuban cigar merchants.
Potential for Many Industries is Unlimited
Cigars, the hallmark industry of Cuba, are regarded among the highest quality in the world. Other Cuban industries expected to flourish include alcohol (particularly rum), sugar, and in time, travel and tourism. With one of the lowest internet penetration rates in the world, the potential for virtually any industry in Cuba is wide open.
Pesos, Dollars – Instabill Recognizes 160 Currencies
An e-commerce pioneer, Instabill’s secure payment gateways recognize more than 160 currencies including Cuban pesos. With Cuban cigar merchant accounts, cigar merchants will be able to process payments and send and receive payouts in their own familiar currency. Cigar merchants need not worry about connecting to our payment gateway – our expert technical support crew does it for you.
Get Started Today
Instabill prides itself in personal, one-on-one customer support. Merchant account representatives are available Monday through Friday from 8:00 a.m. until 6:00 p.m. and can be reached by phone at 1-800-318-2713 or by selecting the live chat option below.