On 26th January 2001, BFSB Members Thyme Online Ltd and Axxess International Ltd. became the first Bahamian companies to process an internet credit card transaction directly into a Bahamian merchant account for a local business.
This landmark transaction was completed on behalf of the Bahamas Financial Services Board (BFSB), now using www.bfsb-bahamas.com to sell the Bahamas Financial Services Guide to web users around the world.
The system for clearing credit cards in Bahamian dollars is a collaboration between Thyme Online, who developed the website integration areas, and Axxess International, who are already established in the credit card business and have close ties with Mastercard.
Thyme Online spokesman, Ben Jamieson, said “We are all very excited about this transaction. It has finally opened the door for Bahamian companies to conduct business on a global scale. Being able to carry out secure credit card transactions online in this country will allow retailers and the service industry to market both the islands and their products in a whole new way.”
Chris Donnachie, of Axxess International, said “We at Axxess are delighted to be part of the e-commerce explosion which is about to take place in The Bahamas. Credit card clearing is key to the success of e-business and Axxess will strive to continue to be at the forefront in developing this market.”
Thyme Online Ltd, a wholly Bahamian owned company, was founded in 1998 by Craig Thackray, a Bahamian businessman and owner of the Thyme Group. In three years, Thyme Online has become the leading web development firm in the Bahamas and specialises in online content delivery, database integration and e-commerce solutions for local business.
Axxess International, founded in 1996 by Bahamian businessmen, with offices in New Providence, Hong Kong, London and Switzerland, is set up to provide financial institutions with world class debit, credit and e-commerce solutions.