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An Offshore Merchant Account serves as the ideal merchant solution for a replica merchant. This type of merchant account can facilitate high credit card processing volumes unlike the constraints of a domestic merchant account. Choosing to process through an offshore processing bank will afford no restrictions on monthly or yearly volume limits while providing very liberal processing requirements. Several of the largest and most respected businesses in the world utilize offshore processors to accept their credit card transactions.

FEATURES OF OFFSHORE MERCHANT ACCOUNT
Personalized merchant IDs
No pre-set volume limits
Sophisticated payment gateways
A virtual online for manual entries
24/7 real-time reporting
Daily/weekly payouts

An offshore corporation may also own the offshore merchant account to benefit from optimal asset protection and tax incentives A replica merchant should always consider an Offshore Merchant Account that extends state-of-the-art fraud technology. A well designed system will have the ability to identify subtle patterns in buying habits and characteristics of online fraud perpetrators. It is mandatory to integrate a robust and comprehensive fraud system to maximize business profits while minimizing risk. Replica Merchants should also consider offering multi-currency payment processing options, SSL encrypted servers and 3D Secure to increase global presence and maximize sales.

THE PROS AND CONS OF OFFSHORE MERCHANT ACCOUNTS

Like anything, there are pros and cons of an offshore merchant service. If you are considering this type of service you will want to look into all of the facets of the service to determine if it is something that is right for you and your business. While this type of service is wonderful for some, it isn’t the best fit for others. There are some obvious pros and cons that you may want to consider before you make your final decision.

One of the most obvious cons of an offshore merchant account is that they are considered high risk. They are considered high risk because they are quite prone to fraud and this is because the businesses that use these accounts do most of their business online. When do you do business online it can be difficult to determine at the end of every day which transactions are valid and which are not. Many hackers spend time online just waiting to take advantage of this type of business and the fact that transactions can go unnoticed. The fact is that when you accept credit cards online you can only do so much to ensure that you are protecting your information and the information of your clients. If you are aware that hackers can and sometimes do get a hold of personal information you can balance this con by being aware of all activity being processed with your offshore merchant account.

Because fraud is so prevalent with this type of service, another downside of one of these accounts is that it can take quite a bit of time before your business is approved for an account. The reason for this is that merchant account providers like to investigate the companies that they provide accounts for, as this helps to safeguard against the prevalence of fraud. Because of the existence of fraud the costs associated with offshore merchant accounts can also be very costly when you are approved.

While is seems like there is a lot of fraud associated with offshore merchant accounts, there are some pros that make these accounts the choice of many business owners. Adult websites and other money making ecommerce websites find that this is the best way to accept credit cards online without having the site go down. While there is a chance of having the account hacked, many combat the risk with protective software and know how that will allow them to receive their funds with a limited risk of fraud and hacking.

BENEFITS OF OFFSHORE MERCHANT ACCOUNTS

Is your merchant account processor not giving you good services and making the whole credit card processing a big hassle for your business? Or do you have a new business or a business with high risk that does not belong to the good books of US banks and credit card processors? In both cases an offshore merchant account processor will surely welcome your business account.

Offshore merchant accounts can help your business reach its full potential and let you process enough sales per month to get your business going great guns. You can reduce the tax liabilities on your business by having an offshore merchant account. It can give you a way to move part of your assets offshore without getting into the wrong books of the IRS. This account can give you a legitimate and convenient way to get your business profits offshore. Offshore merchant accounts work great with those who wish to set up a new online business that involves credit card processing for taking up orders. It also facilitates easy multi-currency processing.

Most of the offshore banks provide better service than the domestic banks. They have more lenient procedures and guidelines. Therefore, opening an account is much easier. They provide highest-level security, encryption and fraud protection systems. If your account exceeds the volume of proceeds that your domestic bank allows for processing then having an offshore account with minimal volume restriction can help your business grow in leaps and bounds. Jurisdiction and business legislation involved with high-risk businesses such as that involving online gaming, gambling, adult material, online pharmacy etc. is easier in some of the offshore banks than in domestic banks.

Most of the offshore merchant accounts enable processing of varied types of credit cards that may not be allowed by most of the US banks. The US banks prefer accepting only Visa and MasterCard through merchant accounts. However, having an offshore merchant account allows you to accept proceeds from tapping orders from other types of cards as well.

Category : Offshore Merchant Accounts

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