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Offshore Merchants and Your Payment Transaction Needs

Business is experiencing rapid growth in on-line sales. Such sales are made possible because merchant accounts owned by the business make it possible to accept payments using credit or debit cards. Small businesses usually rely on domestic banks to handle the backend of credit card transactions but there is a limit to the risk and the number of transactions that your online store can make. When you realize that there are customers worldwide, you start applying for an international merchant account. However, bankers are a conservative bunch and they demand too much paperwork. They will consult the so-called TMF or “Terminated Merchant File” and will do a credit history check. When your online business falls into the non-traditional and cutting edge, bankers may decline your application or else charge you high fees.

Offshore merchant accounts are emerging to fill the unmet need of such business endeavors. If your internet site offers such services like adult, weight loss reduction, multi-level marketing down to travel industry, or if the nature of your business is deemed too risky because of fraud or chargeback,  such merchant  accounts are willing to accept the risk and provide your site with the necessary infrastructure that will enable credit card transactions. Offshoremerchants.net is a high risk merchant processor. They provide complete e-commerce solutions, virtual terminals and staggered billing.

Successful applicants may be pleasantly surprised by the simplicity of how Offshore Merchants charges for their services. There are no fees for setup, monthly and annual payments and certainly no termination fees.  Depending on the risk and monthly turnover, expect  charges ranging from 3 to 7 percent.

Offshore Merchants does not put a cap on the number of transactions you can process. This is a marked difference from merchant accounts offered by domestic banks. It is simply unimaginable to limit the growth of your business just because your present merchant has a volume cap on the number of transactions.

What Offshore Merchants do expect from successful applicants is a ten percent cash reserve based on six month sales. The mechanism for setting the rolling reserve is simple. Ten percent of the sales made after the first month is withheld by the Offshore Merchant and will only be returned to the account holder on the seventh month. Likewise another ten percent is held on after the second month and is returned to the account owner on the seventh month. If the account holder is able to maintain a good credit history, the amount set as rolling reserve can be lowered. 

Applicants who are able to furnish Offshore Merchants with the required documentation will be informed of their success from four to eight days after application. If you state that volume of your accounts is expected to be on the low side, your site can begin processing within a day of signing up.

So, Offshore Merchant offers the prospective applicant an international presence with a very easy set of requirements without setting a cap on the number of transactions your site is able to process.

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.