Difference between United States and European
SPORTSBOOOK merchant
accounts
The banks in United States of America
have pioneered the issuing of credit
cards and the credit card processing
services for big stores and
supermarkets. For quite some time now,
America has managed to remain the centre
of online processing of credit-cards.
When online shopping began gaining
popularity, many American banks began
providing e-commerce merchant services
for all the online resources selling
products or services. Currently, the
total number of American banks that are
involved with merchant accounts has
increased manifold resulting in a very
competitive scenario among the various
banks. This has resulted in reduction of
prices. This also led to terms and
regulations which that were unaffordable
by e-commerce merchants, especially
those who had small or start-up
businesses, as the costs were very high.
The other disadvantages that resulted
due to regulations were fees such as
monthly minimums. All this impacted
internet merchant accounts in a bad way.
Due to citizenship problems, a number of
merchants who were not residents of the
United States were unable to get
merchant accounts.
Merchants who could not obtain merchant
accounts, due to the reasons mentioned
above, faced losses and began looking
for alternate means. They then opted for
other transaction and processing
services. One such example is that of
third party merchant account. These
accounts were easily available when
compared to those provided by United
State banks. Though there was
accessibility, the services offered by
these providers who comparatively
costly. In addition to this, the payment
methods too were very inconvenient for
the traders.
The advent and easy availability of
merchant accounts in Europe brought in a
change in the existing situation. For
obtaining a payment gateway to process
credit cards, United States citizenship
was not mandatory. This proved to be a
positive point for a number of
merchants. Therefore, processing credit
cards became simpler. This also changed
the business of credit card processing.
These days, European merchant accounts
are as popular as United States merchant
accounts. Hence, internet merchants now
have the option of United States and
European merchant accounts.
The United States e-commerce merchant
accounts are not easily available.
Though credit card processing solutions
are being provided, the high costs are a
huge drawback. Also, they conduct
surveys before providing a payment
gateway to the traders. This causes a
number of problems for the merchants and
impacts their transactions.
Contradictory to this, European merchant
accounts are pretty flexible with their
terms and conditions. Though a little
research is carried out, it can be
justified keeping in mind the security
concerns.
High level of competition between the
various American banks has resulted in
easy availability of merchant accounts.
This type of competition does not exist
in Europe but the accounts a slightly
costly when compared with banks in
America. The quality of merchant
accounts available both in the United
States and Europe are the same. The
merchant account providers at both these
places are decent, respected and
responsible, but beware of any possible
scams. 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. |