Offshore Credit Card Processing | International Payments Processing

Looking for offshore credit card processing for your business?  You’ve landed in the right place.  PaynetSecure establishes merchant accounts offshore for companies located in the US and around the world.  

Your offshore merchant account includes: 

• Low Rates.  Contact us today for a no-obligation comparison.
• Multichannel Processing.   Accept online payments.  Enter MOTO transactions into virtual terminals.  Accept payments from mobile devices.  Or bulk process orders with batch uploads.  
• Extensive Banking Network.  Acquiring banks located throughout the world.  Offshore merchant accounts mitigate processing risk.
• Multicurrency Processing.  Fastest way to increase sales.  Accept 160 world currencies. Receive settlements in 25 major currencies.
• PCI-DSS Level 1 Payment Gateway.  Exceeds the most stringent standards for secure payment processing.  Military-grade encryption protects your business and your customers.
• Robust Fraud Fighting Weapons.  Customizable rules & filters help you quickly accept good orders, decline bad ones, and set aside questionable ones for review. 
• Recurring Billing Plans.   Unlimited recurring payment plans make it easy for customers to buy from you on a regular basis.
• High Risk Processing Specialists.  Businesses classified as high risk are welcome to apply.

What is an Offshore Merchant Account?

An offshore merchant account means that the acquiring bank or offshore payment processor is located in a region outside of the business’ primary headquarters location.  For example, when a US business establishes a payment processing account in Europe, the European account would be offshore for the US business. 

Offshore merchant accounts are similar to international merchant accounts.  The main difference is that merchants seeking offshore merchant accounts are generally classified as high risk by US acquiring banks.  Whereas international merchant accounts are used by both standard & high risk merchants who want to take advantage of the booming growth of global ecommerce world-wide. 

Establishing merchant accounts offshore gives high risk merchants safe havens for processing payments.  And provides optimal access to credit origination world-wide, which protects the liquidity of your business.

Offshore merchant account accounts have no caps on volumes. To apply for an account, the banks require processing history of least $50,000 per month (or equivalent in other currencies). 

Reasons High Risk Merchants Chose Offshore Credit Card Processing

High risk merchants establish offshore merchant accounts for five primary reasons:  industry type; processing volumes; tax considerations; diversification; and targeted markets.

Certain high risk merchants cannot qualify for US merchant accounts due to the products or services being sold.  For instance  Forex trading platforms, online gambling / sportbooks; adult entertainment; and nutraceuticals often use offshore merchant accounts.  High risk merchants in many industries discover offshore merchant accounts have more liberal underwriting along with friendlier jurisdictions than the US. 

International banks allow higher processing volumes than do US banks.  Once approved, offshore merchant accounts ensure high volume processing capacity.  There are rarely caps on volumes, which is particularly useful for fast growing, high risk merchants. 

Some companies establish merchant accounts offshore for tax purposes or to access business incentives offered in certain countries.  Others establish offshore credit card processing to take advantage of different regulatory environments.  Check with your business advisors to determine if offshore payment gateways are recommended for your company. 

Diversification of acquiring banks is another reason businesses process payments offshore.  For example, different parts of the world have political or cultural standards,  which are more accepting of certain products or services than others.  Diversification of merchant accounts offshore mitigates processing risk while protecting business operations.

Targeted markets are another reason for credit card processing offshore.  Card acceptance rates are much higher for cards when processing through an acquiring bank located in the regions where the buyer is located. 

Increase Orders / Reduce Expenses with Offshore Merchant Accounts

The world is becoming a single marketplace, offering online merchants the ability to expand beyond national borders, increasing sales and profits. Businesses that have offshore merchant accounts with acquiring banks in targeted markets save money on processing, increase orders from shoppers, and decrease operational costs.

Establishing multiple offshore merchants accounts with banks throughout the world is a smart strategy.  A single plug in to the offshore payment gateways lets you manage all payment processing accounts from a central control panel.  Reporting, accounting, and reconciliation of processing data are easily accessed on a global or individual account basis.

Offshore merchant accounts help you reduce operational costs.  Pay local vendors, workers and overhead expenses in the local currency.

Reduction or elimination in foreign exchange fees save you unnecessary expense.  And give you control of your cash flow world-wide.  

Multi-Currency Payment Processing

Merchant accounts offshore include multi-currency processing.  Pricing displayed on your site at checkout is the same as what will be displayed on the buyer’s card statement.

For ecommerce, multicurrency payments encourage customers to complete the sale rather than abandoning the shopping card.  When pricing is not displayed in local currency, buyers become confused, putting a damper on sales. 

Offshore merchant accounts can also include preferred “in-country” alternative payment methods to boost sales.  For instance, local bank transfers are preferred over card payments in many countries.  

Rates & Terms for Offshore Merchant Accounts

Rates for offshore merchant accounts vary, depending upon the region in which the acquiring bank is located.  Most international banks offer competitive rates, particularly for high volume, high risk merchants.  

Settlement times for offshore credit card processing depend on the volumes being processed.  High volume merchants qualify for daily settlements, while smaller offshore merchant accounts may settle weekly or a few times per week. 

Interchange rates are different throughout the world.  For example, European interchange rates are lower than US interchange and rates are quite competitive with the US. 

Offshore merchant accounts save you money on processing when you have customers located in the same region as the acquiring bank.  For instance, when offshore merchant processing accounts are in Europe, your European transactions will cost less than processing through a US bank.

Higher card declines are a consideration for offshore processing. Depending upon the bank, US cards may be considered cross-border transactions which can result in higher decline rates. Card approval rates will still be good. Yet, not as high as if you processed a US card through a US acquiring bank.  Much depends upon the jurisdiction in which the acquiring bank is located. 

Applying for Your Offshore Merchant Account

Application for an offshore merchant account is always free, with no obligation.  You simply submit an application along with supporting documents.  Minimum monthly processing to qualify for an account is $50K.  High volume offshore merchants accounts are preferred by most international acquiring banks. 

A dedicated account representative is assigned to you to work with you throughout the application process.  The goal is for you to get the fastest approval with the lowest rates and best terms. 

Allow 7-14 business days for account approval from the time the complete application file is received.   Supporting documents include:  Color copy of driver’s license or passport for the signer on the account; voided check from the bank to which processing funds will settle; 3 months business bank statements; 6 months of payment processing statements; and business formation documents such as Articles of Incorporation.

Most jurisdictions require companies to establish a corporation and bank account in the region where the acquiring bank is located.   We are happy to provide you resources that can assist you..  Some acquiring banks let you wait until the offshore merchant account is approved prior to you completing this step.

Tips for Quick Approval for Offshore Credit Card Merchant Accounts

Be sure that your business bank statements show positive cash flows. Confirm that bank accounts have enough money to support the processing volume being requested. 

Processing statements are examined to determine chargebacks.  If chargebacks are low, that’s great.  If chargebacks are edging up, include a short explanation of the reason and the steps being taken to bring chargebacks under control.

Ecommerce merchant websites must be fully functional.  Prior to submitting the application, test all links, make sure pages load quickly, and that content displays clearly, with no glitches.  

Post refund and privacy policies on websites.  If products are being shipped, include shipping information.  Make it easy for customers to contact you by clearly displaying contact emails, customer service details, and hours of service.

Underwriters sometimes “cold call” or email customer service during the application process to determine how service is handled.  If calls go to voice mail, make sure the message gives the name of the company and when the customer can expect a return call.  The same information should be included in email auto responders.  Of course, answer all inquiries in a timely fashion.

These days, underwriting teams often search the internet for reviews on the business. Naturally, not all businesses will have perfect reviews.  Still, do a search yourself to see what is out there.  Responding  to comments in a polite and positive way demonstrates that you care about your online reputation.

Why Establish Offshore Merchant Accounts through PaynetSecure? 

Here are some reasons businesses report for using our services to establish credit card processing offshore:

• Free application with no obligation.
• Extensive acquiring banking network gives you access to offshore merchant accounts world-wide.
• Multicurrency processing. Fastest way to increase orders from international shoppers
• Accept payments through all channels, including online, MOTO, mobile devices, and point of sale.
• Anti-fraud protection. Customize cascading rules & filters to quickly respond to changing market conditions. 
• Military-grade encryption safeguards your business and your customers.
• 3D Secure allows you to offload risk for some chargebacks back to to the card brands.
• Highly trained customer service representatives dedicated to your success.