Offshore merchant account impact on your online transactions

1
For businesses that are operating online, an
online merchant account is a must. Because if you
want to accept online payments it is compulsory
to open a merchant account. When you are
searching for a merchant service provider, you
will find the term Offshore Merchant Account. Now
you are thinking about what an offshore merchant
account is. However, it also has negative sides
and these accounts are reserved for high-risk
merchants. And that cannot get approved for a
merchant account in their own country.
It is a fact that some offshore merchant account
providers offer a high-risk industry. But it is
not happening with all other offshore merchant
account providers. So let us understand.
Define offshore account
It is similar to any other account. But it is
with a bank of another country. So this type of
account allows receiving online payments by
credit card processing. And it is not limited to
any industry type. But it is available for
merchants of all the business classifications.
And you can get this account opened to get its
benefits. And this account is more profitable for
merchants in spreading their business. Beyond
geographical boundaries as international
merchants.
International merchants sell a product or service
to both domestic and international customers. And
provide real-time credit card processing in the
local currency of the customer. And for safe and
secure credit card processing. So the merchants
should work with local banks of other countries.
Benefits of an offshore merchant account
Multiple banks support. After applying for an
offshore merchant account. You are provided with
a list of multiple banks. Moreover, you can
select from according to your business
requirements. Hassle-free obtaining an
offshore merchant account. Getting an offshore
merchant account is straightforward. Because
application forms are available on the providers
websites, which saves your time.
Multi-Currency acceptance. If you are operating a
business catering to international customers.
Then youll need an offshore merchant account. So
you can accept payments in your desired
currencies. Secure credit card processing.
If you have an offshore merchant account, you
dont need to worry about the leakage of your
customers data. Real-time updating. You
will receive real-time updates about the
transactions processed in your account.
Expand globally. By getting an offshore merchant
account, you will have the opportunity to enhance
your client base globally. Moreover, youll have
the chance to boost your business globally.
Low taxes. Having an offshore merchant account
will reduce your taxes. You can avail of various
tax benefits as per the tax requirements of the
country, where the offshore bank is located as
compared to a merchant account of your country.
No limits on transactions. Mostly, offshore
banks do not limit the monthly transactions. And
that allows your business to increase profits and
reach its maximum limit. How can you select an
offshore merchant account?
If you want to opt for an offshore Payment
Gateway provider. You will find many merchant
account providers. Moreover, getting a suitable
match for your business requirement is a typical
task. When you are searching for an offshore
account provider. You will have to consider these
factors.
2
Payment Gateway. Having a merchant account only
is not enough to accept online payments.
But you will also need a payment gateway to
process all the transactions. And if a merchant
wants to sell products or services to
international customers. So your merchant account
provider has to provide you with a reliable
payment gateway for the real-time processing of
payments. Multi-Currency Acceptance. An
offshore merchant account should provide
merchants with local currencies of different
countries to process payments smoothly. So your
payment service provider needs to provide you
with a multi-currency allowance. And if you are
going to spread your business region. Because you
will have to ensure that your merchant account
can accept the currency of that country.
Security. If you are looking for a secure credit
card processing system. Then your offshore
merchant account should have anti-fraud
prevention tools like AVS, CVC, and
pre-authorization are important. However, it will
also help you in reducing the chargeback
ratio. Are all offshore accounts considered
high-risk? An offshore merchant does not term to
high-risk. And it depends on the geographical
location of your business. In certain criteria,
most merchants may term these accounts as
offshore. Because others may consider them
onshore. Because it is advised to work with a
reliable provider. However, it also offers
complete security to every credit card
processing. And it will also provide merchants
with various opportunities. And it supports in
growing their business economically and
geographically as well.
An International merchant account is considered
high-risk. Because it caters to businesses have a
high risk for fraud and bankruptcy. So these
businesses include.
High Sales Volume. High Chargeback
ratio. Poor Credit History. If the
business registration address lies in an offshore
region. Most businesses have to take risks. And
without impacting their financial credibility.
And to increase growth in sales. So this
flexibility is provided to the merchants by
High-risk merchant accounts. Domestic financial
organizations find it risky. And they avoid
approving a merchant account to high-risk
businesses. Lets Wrap Up
Amald provides complete solutions to set up an
offshore account. Along with a payment processing
gateway for your high-risk business. Your
business can start accepting online payments. And
if you have any queries. You can contact us
anytime. Or can drop us a mail. We will revert
you.