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HOW YOUR BUSINESS WILL BE BENEFITTED WITH THE OFFSHORE MERCHANT ACCOUNT?

The world of ecommerce demands businesses to accept credit card payments or else loose all its customers to it competitors. Accepting cheques, money orders and wire transfers are not enough to make your customers to come back to you, resulting in huge loss of revenue and growth of your business becomes impossible. 99.99% of ecommerce businesses accept payments through credit cards today.

Unlike in the last decade where merchant accounts were only affordable to the large and multinational companies, today even a home based business owner can obtain a home business merchant account and accept credit cards. There are several gateway providers who offer several solution bundles with different merchant accounts.

 If you are going to apply for a merchant account for your online business then you have two options: a domestic merchant account or the more beneficial offshore merchant account.

The advantages of offshore merchant accounts are numerous. They are very simple and easy to obtain. With Domestic accounts you are more likely to be blacklisted because of breaking the strict laws and regulations. However, providers of the offshore merchant accounts are outside the jurisdiction of your country and therefore are not bound by the strict laws and regulations and can offer their services at a cheaper price. The offshore banks who don’t have any competitor’s provide their merchant services to any online merchant whether he is experienced or not. For the domestic merchant account you have to pay a huge initial deposit of several thousand dollars which is not affordable to all merchants. With the offshore merchant account you don’t have to pay this.

The other big advantage of the “offshore merchant account” is a drastic reduction in the amount of taxes that you will have to pay. Since the offshore banks are located outside your country they don’t have to pay high taxes for the processing fees they get. Hence, they charge less.

The capability of accepting payments in any currency is the biggest advantage that you get with the offshore merchant account. This enables your business to serve customers in all countries. With domestic merchant accounts you can only accept payments from customers within your country limiting your market.

You can choose your processing bank from a wide range of options. There are several thousand banks, worldwide, that provide these services. Therefore, you need to put in some time and effort and do research, before choosing the bank. There are companies that can do this job for you.

Let us quickly brush up the advantages of an offshore merchant account.

  • Availability – Can be easily obtained without any security deposit.
  • Reduced Taxes – You can save money because of lower tax rates.
  • Multiple Currency – You can accept payments in many currencies.
  • Wide Choice – You can choose from thousands of offshore banks instead of a few domestic banks.
  • Security and Safety – The offshore accounts are as secure and safe as the domestic one.
  • Speed – processing of payments is very quick.

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.