How do people in Suriname pay online?
Online shopping is still young. The US Commercial Service describes e-commerce in Suriname as being at an early stage, with no published data on what is sold online or who buys. Internet use is high: the World Bank, using ITU data, puts it at 87.4% of the population in 2023.
Cash leads in shops. The same guide says most retail transactions are made in cash, and that US dollars and euros remain a common form of payment alongside the Suriname dollar.
Cards and transfers carry most digital payments. Several banks offer Visa and Mastercard credit cards. The four large commercial banks, Republic Bank, DSB Bank, Fina Bank and Hakrinbank, and the smaller local banks all offer electronic banking, and bank transfers are among the common methods of payment.
Wallets are growing. Uni5Pay+, from Southern Commercial Bank and built on UnionPay International standards, has been live since August 2019 and reports more than 100,000 users and more than 600 merchants. Users top up at top-up locations or by bank transfer, hold balances in SRD and USD, and pay by scanning a QR code in shops or at online shops that accept it.
Google Pay is listed for online and in-app payments in Suriname, while Apple Pay is not on Apple’s list of supported countries.
What rules shape online payments in Suriname?
VAT is 10%. The Tax Administration (Belastingdienst) explains that VAT came into force on 1 January 2023. The general rate is 10%, with rates of 0%, 5% and 25% for listed goods and services. A business must register once its taxable turnover passes SRD 1,000,000 in a calendar year, and returns and payment are due by the 15th of the following month.
E-commerce has a legal basis. The US Commercial Service notes that chapter eight of the Electronic Legal Transactions Act contains rules on e-commerce and consumer protection.
Imports carry tariffs and fees. Suriname’s tariff schedule runs from 0% to 50%, and the government also charges a statistical fee of 0.5% and a consent fee of 1.5% of the CIF value on imports.
Currency conversion needs approval. Funds associated with an investment can be converted at legal market clearing rates with the permission of the Foreign Exchange Commission, and the US Commercial Service describes the criteria for permission as opaque.
How would Omno route payments in Suriname?
A merchant would connect once and set routing rules per method, currency and customer group. In Suriname:
- Card pay-ins would be routed by BIN, so local and international cards each go to the provider set for them, with cascading to the next provider in the rule if one is unavailable or rejects the request.
- Currency rules could send SRD and USD payments to providers that settle in each currency.
- Bank transfers and wallets such as Uni5Pay+ could be offered through providers that support them, with the order pending until the provider confirms the payment.
Webhooks would report the final status of every payment, and the routing-decision log would show which provider handled each payment and why.
What should merchants plan for?
Plan for cards and transfers. Several local banks issue Visa and Mastercard credit cards and all offer electronic banking, so both belong at checkout.
Plan for two or three currencies. Shoppers use Suriname dollars, US dollars and euros, so decide which currency each customer group pays in.
Plan for VAT. Check whether your sales to Suriname make you liable for its 10% VAT and how imported goods are taxed at the border.