Offshore Credit Card Processing

Secure payment processing for your offshore merchant account

Offshore Credit Card Processing increases sales volumes by allowing merchants to accept payments from various credit cards in multiple currencies.

What is offshore Credit Card Processing?

Offshore Credit Card Processing allows merchants to accept credit card payments in multiple currencies and to accept various types of credit cards. Online Businesses especially benefit from offshore credit card processing because it enables them to increase sales volumes by accepting more payment methods.

Credit Card Processing for an Offshore Merchant Account

Offshore Merchant Accounts are typically online accounts established by a merchant with an international bank to receive payments from worldwide customers. Online businesses often prefer offshore merchant accounts because domestic banks will often impose more restrictions, or ask for more documentation prior to opening an account. Local banks for example may ask merchants provide certain documents or a past credit history of transactions. Furthermore they may not allow high sales volumes or large changes in sales volumes.

Offshore Merchant Accounts on the other hand are often more flexible in terms of customers they choose to accept, and usually more discrete allowing merchants a greater degree of privacy. Merchant Accounts in an offshore jurisdiction can also reduce a merchant's tax liabilities, because the account or business is based in a place where there is no business tax.

Merchant Accounts are divided according to risk depending on the type of business. Merchant accounts are classed as high risk when there is a high volume sales, risk of chargebacks and refunds, fraud, insolvency and/or no credit history. This involves a greater degree of risk for the bank or credit card processor offering a service. Businesses classified as high risk will in most cases look offshore for a merchant account. Typical high risk businesses include: online casinos, sports betting, adult entertainment, travel, digital money and online pharmacies.

Advantages of Offshore Credit Card Processing for a Merchant Account

Offshore credit card processing allows merchants a streamlined, cost-effective,'auto-pilot' method of collecting income from sales. Benefits can include:

Zero taxation on sales income

Protection against currency fluctuations

Increased sales income through simplifying the customer purchase procedure

Ability to accept payments in multiple currencies

Faster order processing, transactions can be authorized in seconds, with receipts immediately sent to both merchant and customer.

Business can remain up and running 24/7

For many of the 'high-risk' businesses offshore merchant accounts and credit card processing have come to be seen as essential. They offer a secure method of payment, steady income stream, reduced threat of litigation and most importantly they save a lot of time.

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