Offshore Merchant Account - For High Risk Businesses
An offshore merchant account can be the only way some businesses are granted merchant accounts. The reason? High risk businesses or those not based in the United States are sometimes denied a merchant account. And since a merchant account can boost income significantly by allowing you the ability to allow customers to pay with credit cards, obtaining an offshore merchant account may be an important step for your business. There are dozens of companies offering to provide service for your offshore merchant account. Some of the "high risk" business enterprises being touted as having a good chance of being granted an offshore merchant account includes the gaming industry, travel company, online pharmacy, tobacco, telemarketing and some high volume businesses. Companies that sell their products or services online are typically very susceptible to credit card fraud, sometimes moving them to the "high risk" category. Other companies tout their ability to handle a merchant account for controversial businesses. Most offshore merchant accounts offer many of the same benefits as a traditional merchant account. A gateway to accept credit cards and the ability to verify credit card use before processing the transaction are two of the major benefits. This helps the merchant avoid fraudulent charges. Most offshore merchant account providers also tout their ability to transfer money to any bank in the world, giving merchants the continued assurance that they'll get their money quickly after making the credit card transaction. In addition, an offshore merchant account could just save you some money in tax issues. Privacy for your financial issues are another benefit of an offshore merchant account promised by some service providers. Deciding whether to establish an offshore merchant account becomes a purely personal and business decision based on whether you can obtain and maintain a traditional account, and whether an offshore merchant account can help you financially.