Why Should You Set Up An Offshore Merchant Account?

Establishing a merchant account offshore is not a complex task anymore. While many high-risk businesses choose to open a merchant account offshore, not all accounts are exclusively created for high-risk merchants.

Companies in different industries establish accounts because the payment online processing option makes good business sense. The primary goal of any business is to have the most efficient payment processing solutions, whether the solution includes a merchant account offshore, domestic processing, or any combination thereof.

Business Benefits of a Merchant Account Offshore

●      An offshore Merchant account diversifies payment processing and decreases risk factors associated with payments., this account offers substantial protection to businesses against the uncertainties in the global business world.

●      Interchange rates vary under different jurisdictions. Therefore, it may actually be more affordable to process certain transactions through this account as compared to a domestic account.

●      For companies doing international business, the foreign exchange rate of the currency is a major concern. This account can help a company in saving money on foreign currency exchange rates.

●      Multicurrency processing. All these accounts can process and settle transactions in several currencies. Multicurrency processing helps in increasing sales by giving customers the option to pay in local currency.

●      An account may offer several other business expansion advantages. Many countries give incentives and rewards to companies that establish a corporate presence under their jurisdiction.

●      Certain high-risk businesses (such as OTC bitcoin trading desks) find it easier to process payments with an offshore high-risk merchant account than domestic.

●      Businesses in the online Casino, Poker and online pharmacies have issues be approved onshore when as offshore bank maybe more accepting.

●      An offshore bank account also offers unlimited processing volumes as a standard feature. This is particularly helpful to expand businesses rapidly.

International e-commerce and Offshore Merchant Accounts

In these times of international e-commerce and online business an offshore merchant can be a game change for an online business. The world has indeed becoming a global marketplace. Any international company is making a mistake if it is still thinking in terms of only national borders. International payment processing is crucial for companies that have a global customer base.