In today’s world of e-commerce, enabling credit and debit card processing is a must. Consumers expect speed and convenience. The majority of payment processors offer a variety of solutions and services to help merchants fulfill this demand; this includes offering different types of merchant accounts, like offshore merchant accounts.
What is Offshore Payment Processing?
What is an offshore merchant account, and does your business need one? Offshore payment processing makes it possible for e-commerce stores to accept credit and debit card payments from major credit card companies like Visa and Mastercard and other credit card providers. These services enable businesses to seamlessly process transactions from any location in the world, along with all forms of currency.
It is easy to see how offshore payments would offer a company an advantage and increase its profitability. Still, many business owners have a lot of questions. For one, is offshore payment processing necessary, especially for high risk industries?
FAQs About Offshore Payment Processing
The following answers to frequently asked questions about offshore merchant accounts should help you decide if it is right for your business:
- Why is offshore processing sought-after by high risk merchants?
Sadly, once a merchant has been pushed into the high risk category, they will find it incredibly difficult, if not impossible, to secure a merchant account. Most banks and traditional financial institutions will turn down a high risk merchants’ applications. A high risk provider like emerchantbroker.com, on the other hand, specializes in working with these merchants’ challenges and providing solutions. Offshore payment processing for high risk businesses ultimately provides access to a broader market, higher volume capacity and tax benefits, among many other advantages.
- What business types really need offshore payment processing?
Not every business type will need to secure offshore payments. Most that do acquire this service are from high risk industries, though there are some low risk merchants who also choose this route. Some of the industries that regularly seek offshore credit card processing include accounting and bookkeeping, credit repair, dating services, online pharmacies, furniture, e-cigarettes and vape, travel and weapons.
- How to find the right offshore payment processor for your business?
It is incredibly important to do your research before partnering with an offshore payment processor. Especially if your business is high risk, you need to make sure the provider specializes in your type of business and the challenges and opportunities it faces. If you are searching for a secure and low-cost offshore merchant account, consider turning to emerchantbroker.com (EMB). EMB is voted the #1 high risk merchant account provider in the US and has an A+ rating with the BBB. With EMB, you can enjoy top reliability, convenience, and ease of payment processing.