6 June 2023
Since February 2023, the St Helena Government (SHG) Sustainable Development Team have been working with Ryft Pay, a UK-based payment services provider, to offer access to Visa and Mastercard payments. Due to various reasons, a number of barriers have historically been in place that has made it difficult for Visa and Mastercard merchant services to be offered to businesses and customers on St Helena.
SHG and Ryft Pay are pleased to announce that Ryft Pay has agreed to support the initiative to provide St Helena businesses with easier access to modern financial services, with immediate effect.
This means that businesses on St Helena can now apply directly to Ryft Pay to be able to accept Visa and Mastercard payments from customers. The funds from Visa and Mastercard payments can be deposited into a business’ Bank of St Helena (BOSH) account or UK bank account.
The ability for local businesses and organisations to now accept Visa and Mastercard payments will improve the visitor experience by making it easier for visitors to spend money around the Island. It is hoped that this will result in an increase in the amount that visitors spend at local businesses, therefore improving the Island’s overall wealth and prosperity.
To express an interest in the services that Ryft Pay offers, and to begin the application process, businesses should contact Ryft Pay directly at email@example.com. As Ryft Pay’s services are subject to standard anti-money laundering ‘know your customer’ checks, businesses will be required to complete an application form and supply certain documentation.
For further details on the services being offered to St Helena businesses by Ryft Pay, please refer to the Onboarding Process information sheet (available through the Chamber of Commerce or the SHG Sustainable Development team) or contact Ryft Pay directly at firstname.lastname@example.org with your enquiries.
Notes to Editor
Due to its size and remoteness, combined with the cost of charges for services, St Helena has traditionally struggled to access international merchant payment platforms.
Ryft Pay offers its customers automatic processing services on financial transactions. This includes Visa and Mastercard, the two most common payment networks worldwide.
Ryft Pay is licenced and regulated by the UK Financial Conduct Authority as an Authorised Payment Institution (No. 972895). Ryft Pay is certified as PCI DSS service provider Level 1 and offers services that comply with the latest UK industry standards.
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