Posted by admin on Oct 18, 2015

 

offshore merchant accounts

Offshore Processing for High Risk Merchants

One of the most efficient means of protecting and growing your high risk business is with an offshore merchant account.

Expand your business into an ever-growing global marketplace.  By diversifying your payment processes with an offshore payment processing account, you’ll have access to more customers and more sales.

Increase Sales & Profits Offshore Merchant Accounts

Whether yours is an international company or one based in the US, it makes sense to establish an offshore merchant account.  Global ecommerce is booming.  International merchant accounts help you get more orders from shoppers world-wide, who are eager to buy from you.  

Processing payments from orders originating in the same jurisdiction as the acquiring bank saves you time and money.  

  • Take advantage of lower "in-country" interchange rates
  • Reduce or eliminate expensive foreign exchange and cross-border fees
  • Offer multi currency processing to increase sales 

In addition, offshore merchant accounts include alternative payment methods.  The more ways customers can buy from you, the more sales you make.

Accept electronic checks to get more orders from US buyers.  Give international buyers the pay you with bank transfers or localized payment options.  

             High Risk Merchants Benefit from International Accounts

High risk merchants often establish offshore merchant accounts due to the following reasons:

  • Offshore banks are often open to business types that are not accepted by US banks
  • Underwriting criteria is more flexible
  • Higher processing capacity
  • Expand international markets
  • Greater latitude for chargebacks   

International banks are more open to high risk businesses.  Underwriting can be more liberal.  And high volume processing is welcomed.  

High risk merchants targeting international markets find offshore merchant accounts translate into more sales from global buyers.  Displaying prices in local currency increases trust.  And keeps buyers focused on making a purchase rather than converting prices.

International merchant accounts also include alternative payments.  Accepting preferred local payment options at checkout gets you more sales.  You get orders from buyers that don't have cards.  Or simply prefer to pay you with a bank transfer or other preferred method.  

High risk merchants often find offshore merchant accounts are more flexible for chargebacks.  And offer processing services that are not readily available in the US.   

Application Process

Applications for offshore processing are available to all types of businesses, including those deemed to be high risk merchants. Any company with a six-month processing history showing a minimum of $50,000 per month in volume can qualify for an account.

Applying for an offshore merchant account is similar to applying for a domestic one.  You submit an application, along with supporting documents.  Standard documents requested include information about your company, processing history, business bank statements, and proof of identity for the signer on the account.  

               Conclusion

Offshore merchant accounts offer substantial benefits for high risk processing:

  • Diversification of merchant accounts protects payment processing and reduces risk.
  • Expand market reach globally. Get more orders from global customers with multi-currency processing.
  • Lower operating expenses. Eliminate currency exchange fees and cross-border surcharges.
  • Take advantage of beneficial interchange rates amongst processing regions.
  • Power to grow your business. Perfect for high volume merchant account processing.

Are you seeking reliable, safe and secure offshore merchant accounts for your business?

Contact info@paynetsecure.net