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OFFSHORE THIRD PARTY CREDIT CARD PROCESSORS FACTS AND FIGURES WITH EXAMPLES

Third Party Credit Card Processors are a wonderful alternative for those businesses that have trouble in obtaining merchant accounts or are considered as relatively small businesses to have a merchant account. The Third Party Credit Card Processor will have a credit card merchant account for himself through which you can accept credit card payments from your online customers. However, before this can happen you have to sign an agreement with the Third Party Credit Card Processor. Also, the rates charged are higher than the regular merchant accounts.

Some of the benefits you get by using a “Third Party Credit Card Processor” are:

With “Third Party Credit Card Processors” you can begin processing payments through credit cards within a very short period of twenty four hours, whereas a standard merchant account will require several weeks to get the many approvals and start processing credit card payments. Still worse is in the case of “Offshore Merchant Accounts” where approvals take much longer and there is no guarantee that you will get the account. For the “High Risk Merchant Account”, that has a very low probability for approvals, “Third Party Credit Card Processors” are a wonderful alternative as they are easier to get.

Mostly, the “Third Party Credit Card Processors” will charge a higher rate than for the standard merchant account as the processors take the risk. This is a disadvantage of “Third Party Credit Card Processors”. However, if you were not able to obtain a regular merchant account then you are better of with at least the ability to process credit card payments by using Third Party Credit Card Processors. Almost all “Third Party Credit Card Processors” charge you a discount rate ranging from three percent to nine percent for each credit card deal. Obviously, the exact rate will depend on the nature of the transactions you like to process. It also depends on the volume. A higher volume will attract lower rates and vice versa. Also once your business has become consistent you have greater ability to negotiate.

Some of the popular “Third Party Credit Card Processors” include:

  • Clickbank

This was the leader in the business for a long time. To do business with this processor you have to sign up with them and follow their guidelines. It usually takes 3 business days for the verification process after which they accept credit card payments.

  • 2Checkout

This is the second choice for a Third Party Credit Card Processor. This company was much faster and required less than one day to set up the payment processing. Also, this company charges lower fees compared to its competitors. However, they do not provide you with any built in software.

  • PayPal

PayPal is also a good choice. Several internet merchants prefer this mode of payment as it accepts both U.S. and non-U.S. businesses. Also, it is much easier to sign up for this account. Another advantage is it allows payment using multiple credit cards.

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.