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Using Offshore Merchants to Increase Business Transactions and Visibility

When you click on the buy button to complete an on-line purchase, your credit card information is retrieved and the transaction amount is logged onto a special bank account known as a merchant account. A merchant account is a type of account used by businesses so that they can accept payment using credit or debit cards.

Domestic banks or member banks that belong to the Visa/Mastercard network may not provide such an account if the nature of the business is prone to chargeback and fraud. Offshore Merchants offers such businesses, doing a lot of selling via the internet or thorough telemarketing, a chance to expand their sales by letting buyers pay using their credit cards.

If you are selling over the internet, Offshore Merchants will provide you with the necessary infrastructure so that your customers will effortlessly process the sales transaction.  Offshore Merchants will make your e-commerce site attractive to most online customers because both Visa and Mastercard credit cards are accepted.  The range of services that Offshore Merchants offers to interested businesses ranges from complete e-commerce solutions to recurring billings up to virtual terminals.

The proportion of sales consummated over the internet is increasingly becoming bigger and may significantly improve the bottom line. Most business nowadays have an internet presence and more importantly, it means that the market is accessible 24/7 worldwide. Although your domestic bank may look at you favorably, it may mean that your market is limited domestically. One way of making a global presence is to avail of a merchant account which will be able to process sales internationally.  Domestic banks may set a cap to the number of transactions and this may impact profitability. Offshore Merchant does not set a cap on the number of transactions – typical turnaround range is from $1000 to $39 million a month. 

Offshore Merchant accepts applicants from various industries ranging from adult sites to online dating to travel industry. Applicants need not worry about credit history because Offshore Merchants will not do a credit check. Applicants who may be in the TMF or the “Terminated Merchant File” may get a second lease of life to recharge their business.

When your application gets accepted, you may be pleasantly surprised by the absence of fees and charges. There is no SETUP fee, no ANNUAL fee, no MONTHLY fee and no TERMINATION fee. Instead what you get is a simple charge ranging from three up to seven percent. The rate is calculated based on the type of business, monthly turnover and risk involved

Low volume accounts may be accepted immediately after applying whereas it may take a wait of four to eight days before high volume businesses may get approved. Offshore Merchants may expect a cash reserve of equivalent to ten percent of six month worth of transactions. After the first month of sales, ten percent of the gross is set aside and will be returned to the merchant on the seventh month. Another ten percent is set aside on the second month and will only be released during the eight month. The value of ten percent as rolling reserve may be reevaluated and is typically reduced when there is evidence of good processing history. 

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.