High-Risk Offshore Merchant Account

As technology is advancing, the internet has decreased the geographical distance and brought the global market in one place. Through online businesses, merchants can provide its services to customers all around the world. Irrespective of the size of business you own, to run it successfully online, merchants need to have two things: 1. Merchant Account 2.  Credit Card Processing  Facility An offshore merchant account is the most common account out of all the options available in the market. The offshore account does not require a huge cost for the initial setup. This type of account is more popular among small businesses that operate online. Benefits of Offshore Merchant Account 1. Some offshore account providers may charge you but there are a few that do not charge a penny for initial setup, which is a beneficial deal for merchants running small online businesses. 2. Offshore accounts operate outside of your home country (where your business setup is)...

If you own a small business or a large enterprise, it is necessary to open a merchant account with a bank. This is because the merchant account can provide many benefits to the merchant and customers, both. Here are some benefits to use a  merchant account  for your transactions: Better Customer Experience  – The Merchant Account offers flexibility in terms of payment to the customers. They can access your services and get the products anytime they want by simply making the quick payment. This can result in an increase in customers and their satisfaction as well. Increase in Sales  – As mentioned in the above point that customer satisfaction leads to more customers. That helps your business to gain more loyal customers and increase sales. Furthermore, the merchant account handles and manages all the transactions without any issues and errors. Accepts a wide range of payment methods  – Every Customer uses a different mode of payment method as pe...

There was this particular merchant based in the U.S. and, by the time it contacted us, it had gone to some of the biggest U.S. processors to open several merchant accounts, a couple of which are still active. Now, this is one of the biggest mistakes that merchants must not make —opening several merchant accounts at once, and not keeping them live. If it’s done otherwise, processors get nervous and understandably so —the new Merchant Account You are applying dormant is either closed down or replaced. In the event, we asked our merchant to explain why it had gone through the pain of opening these many merchant accounts and received a satisfactory explanation, which is not a typical scenario. I should also add that the merchant had already received notices that its remaining two accounts would be closed within a month, which brings me to the next lesson — if you operate an online tech support business, the mainstream processor would not be a viable option — even if you do manage to get...

High-risk Merchant/business You might think that why your business is categorized as high-risk even while you are following the right track. The reason is the target audience and the niche of your business. Some of the high-risk industries are: E-commerce stores A website dealing with digital content and steaming Travel and transport companies Companies dealing with multi-level marketing and direct sales Adult and dating websites Loan and financial businesses Companies providing supplements Crypto-currency Companies selling custom-made products Fast-growing companies Other reasons for being a high-risk business can be an excessive number of chargebacks. Also, bad credit record, selling goods with high value, products open to the risk of fraud or a subscription-based business. These are the factors that make it difficult for you to get a merchant account and especially to be able to accept online payments from debit or credit card, with a merchant service provider...