Offshore Merchant Accounts

If your business accepts regular payments from international countries, then you will likely need to have an offshore merchant account. If you are unsure as to whether an offshore merchant account is the correct option for you, then contact the experienced staff here at eMerchant Authority. They can help you to determine whether having an offshore merchant account would be beneficial for your business.

Remember; international payment processing is inherently riskier than dealing with domestic payments. If you are regularly receiving payments from overseas, then domestic merchant accounts may not work with you. Here at eMerchant Authority, we will absorb the risk of dealing with payments overseas, which means you can receive international payments safely and confidently. 

How do merchant account services work when they need to accept offshore payments on your behalf? Business owners first need to create a website or an online portal where the customers can shop. Then, the processor works like a connection between the business and the bank during business transactions.  

When the customer wants to check out, they need to enter their details and their payment method information (credit card, debit card, net banking, etc.). This is when the payment is sent to the merchant’s bank, which sends the data to the customer’s credit card. 

When the credit card company receives the information, it sends it to the customer’s bank. When the bank gets the data, they go over it and decide whether to release the payment. This is where high-risk businesses struggle, and the approval rates are significantly lower. High-risk credit card processing is quite tricky, therefore, you need to find a reputable, trusted service that will make things easier for you. Once the bank approves the payment, your processor will receive the information and let the customer know that the transaction is successful. 

Why is it so hard for high-risk businesses to open an offshore merchant account? If you belong to a high-risk industry, you’ve probably stumbled upon a problem or two when researching for the best offshore payment processor and opening an offshore account. Online businesses need this account if they want to expand their work internationally and be able to accept credit card payments in different currencies.  

If you have a legitimate business and belong to the high-risk group, you can still get an offshore account; however, it probably won’t be through a bank or a traditional financial institution because of the risks. Most banks refuse to work with this type of business because of the high chargeback ratios, fraudulent transactions, refunds, bad credit history, reputation, etc.  

Thankfully, we make offshore credit card processing possible and easy for everyone. High-risk processors like eMerchant Authority let your customers pay with major credit cards in different currencies, allowing you to grow your business and audience. In addition, this boosts sales and your income. Since we help a wide range of businesses, both low and high-risk, our team is more than equipped to attend to all your needs and help you become even more successful. 

Offshore payment processing is beneficial for businesses in so many ways. High-risk payment solutions of an offshore business offer various advantages that you should consider if you want to grow your customer base and plan on selling internationally. 

• Accept different currencies: no matter the business type, every company will benefit from accepting various currencies. This means that your customers will see that your business offers them to pay in their currency, instead of another, and they’re more likely to finish the purchase. Cart abandonment can be an issue for e-commerce businesses, since a lot of customers decide not to buy if they see another currency. 
• Increased sales and profits: offshore payment processing services will help you boost your sales and reach a wider audience. In addition, offshore high-risk merchant accounts are great for high-risk companies who want to expand their reach internationally but can’t because they can’t create an account. Once the customers realize that buying from your business is safe, they might return and decide to become regular customers.
• Lower your expenses: having offshore transactions and selling your products/services internationally can save you money and lower your expenses. For example, you can save on operational costs, pay lower taxes, and even lower the processing costs of your business. 
• Increased security: when looking for the right processor, you should consider one that offers you safety. In other words, all the transactions will be secure, without any fraudulent activity, advanced verification systems, and customer support you can reach any time you need.