The rapid growth of e-commerce and online enterprises is a result of the development of technology. Making a payment via credit card is very common now a day for any either online or offline businesses.
Many companies that conduct all of their business only online may be subject to numerous risks and laws. Additionally, if the company conducts business with clients from around the globe, it has the opportunity to establish itself legally in a country that is more tolerant of such enterprises.
One of the best ways to accept international payments from international buyers is to have a high-risk offshore merchant account. Offshore merchant account for high-risk businesses offers the best opportunity to lower the risk and process transactions all over the masses.
Let’s talk about what is an offshore merchant account, why merchants need this, the benefits of an offshore merchant account for high risk, and many more.
What is an offshore merchant account?
The acquiring bank or offshore payment gateway provider when located in a region or country outside of the business location or country then it is called the offshore merchant account. Let’s understand it with a simple example
If you have established a business in the US but have a payment processing account in Europe, Then the Europe account will be Offshore for the US business.
The offshore merchant account is very similar to the international merchant account. The major difference between an offshore merchant account and an international merchant account is that an offshore merchant account is classified as high-risk whereas an international merchant account is used by both high-risk as well as low-risk business that wants to expand their business at the global level.
Offshore is just like a haven for high-risk global enterprises. The offshore merchant account does not have any caps on volumes. The one who wants to expand their business at a global label but is worried due to the high risk in nature should apply for the offshore merchant account.
Why do merchants need an offshore merchant account for high risk?
As a merchant, it is a little bit tricky to accept funds from all over the masses. But now, it’s become very easy. Just have an offshore account and your problem is going to be solved. Let’s have a look at some of the reasons for having an offshore account for your global business –
- Allow accepting the payment from various countries in the local currency.
- Business is located in various countries and needs a separate account for each location.
- Considered too risky by the traditional payments service providers
For these reasons, in case, if your business is considered high-risk then also you can apply for an offshore merchant account. Offshore banks have a higher approval rate for high-risk merchants. The businesses that may benefit from offshore merchant accounts are –
- Accounting and bookkeeping
- Credit Repair
- Electronic cigarettes
- Government grants and financial aid
- Magazine subscriptions
- Travel agencies
There are several more reasons a merchant requires an offshore merchant account. A merchant who has not got approval from a traditional fintech service provider can also go offshore. Some of the reasons other than industry include –
- Businesses with the poor credit history
- The merchant has a poor personal credit history
- High chargeback ratio
- An owner resides in a foreign country
- Transactions are made from all over the masses
- Have irregular sales pattern
- Have high transactions volume
What are the benefits merchant can get with the offshore merchant account?
Having an offshore merchant account for your internationalbusiness provides you with many benefits including –
- Offers a lower tax burden compared to the domestic merchant account.
- It does not have to pay the tax for the capital gain.
- Allow opening the accounts in any currency.
- High transactions volumes are permitted
- Transactions are completely safe and secure.
- Online management.
- The location of actual business dealing is not a problem.
Why choose Amald as your offshore service provider?
We “Amald” is one of the top-notch high-risk merchant account service providers whose services are available all around the world. We help high-risk business to handle the payment process more efficiently and securely.
Amald can easily be integrated into e-commerce websites and offers their customer to make online payments through various channels. We offer excellent customer service. If as a merchant you have a problem, we will get you the best and most satisfying solutions.
We deal with all types of businesses either low-risk or high-risk. We allow all our customers to accept credit cards, debit cards, and checks from all over the masses. We also allow accepting the payment via different alternative payment modes such as e-wallets, net banking, mobile payments, etc.
We offer tech-savvy security services. You can also say that security is our top priority. We offer PCI-DSS compliance, swift setup, fast approval, a hassle-free online application process, etc. We also offer anti-fraud and anti-chargeback tools.
To know more about Amald you can contact our experts.
For a high-risk business, offshore services are just like heaven. Before applying for the offshore merchant account, as a merchant, you need to keep all the necessary information regarding the offshore merchant account.
The offshore service provider offers services to highly-risky businesses such as online casinos, e-commerce, adult industries, etc. Offshore service providers simplify all the complications of your high-risk businesses.
We suggest you go with Amald as your offshore service provider. We offer you the best solution according to your high-risk business needs. With us, you can get all the possible solutions at a reasonable price. We Amald allow you to make payments with various payment modes in multiple currencies with a high level of security.