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HOW HIGH RISK EUROPEAN AND UNITED STATES MERCHANT ACCOUNTS ARE DIFFERENT

The banks of United States are the pioneers in issuing credit cards also processing services of credit cards for supermarkets as well as big stores. Since a long time America has been able to remain as the centre of e-Commerce merchant online processing of credit cards.

When the internet shopping started gaining popularity, American banks processing credit cards started providing services (eCommerce merchant) for almost all internet resources by selling either services or goods. Of late the number of banks involved in merchant accounts has gone up resulting in a tough competition among them. This resulted in low prices. This also resulted in regulations and terms which could not be afforded by e-Commerce merchants who were just starters as it was difficult for them to manage the high cost. The other drawbacks which resulted from this were monthly minimums, risk etc. These all had a bad effect on several merchant accounts online. Because of citizenship problems many merchants who did not belong to United States could not get an account.

This also resulted in those merchants who could not get merchant accounts because of the above mentioned reasons were facing a loss of revenue which forced them to find an alternative. They went to other transaction and CNP processing services. One example of such an account is third party merchant account. They were more easily available compared to those offered by banks of United States. Although accessibility was more the services were comparatively costly. The methods of payment were also not convenient.

The emergence and availability of merchant accounts from Europe brought a change to the situation. To have a gateway for processing a credit card citizenship of United States was not required. This benefited several merchants. As a result the processing of credit cards became easier. This brought a change to the whole business of processing of credit cards. Nowadays the European accounts are equally popular in United States. So the online merchant has a choice between European and United States accounts.

The e-Commerce merchant account of United States is very difficult to get for. Although there are processing solutions for credit cards available on the internet their high cost is a drawback. They conduct a lot of survey before approving gateway for the merchants which causes a great problem for merchants as it affects their transactions.

On the contrary the European accounts are flexible in terms of their conditions. Except for the little research they conduct which is quite justified as it is concerned with security.

As mentioned above the competition between the banks of America is high resulting in cheaply available merchant accounts. As such a competition is not there in Europe the accounts are a bit costly compared to American accounts. But there are banks in Europe which offer services at a reduced rate.

The qualities of the accounts are same. Hundred percent of quality can be assured provided the providers are responsible, respected and decent. Scams are a possibility any where.

Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.