An Offshore Payment Gateway has a great virtual reach for a business. It pushes forth a company’s presence on the digital platform. However, what’s more important, is the Payment processing capabilities of a payment gateway.
A payment processing channel is sometimes confused with a merchant account based on Offshore linking. But, it is not the case here. A payment gateway processes the payments on the website while a merchant account accepts the payment and settles it to the bank account. Both of these has a crucial role to play. Let’s dissect the payment gateway to get a better glimpse of it.
Section 1: The (PSP) Payment Service Provider
A payment service provider is one who offers a payment gateway to different types of merchants. On the one hand, a PSP might provide solutions to Low-Risk businesses, eCommerce, High-Risk Businesses, or a compilation of all. It massively depends on the judging criteria by the service provider.
Low-Risk Businesses
A low-risk business is easy to manage and offers better brand image establishment. Moreover, it definitely provides a better tie-up to the banks and easy solutions. Most of the time, a Low-Risk Merchant can get a payment service from renowned service providers.
High-Risk Businesses
On the other hand, a High-Risk Business needs to find an expert service provider. A high-risk business might have a greater chargeback ratio which may harm the service provider. However, if a PSP has the expertise in the industry, there are no setbacks that cannot be taken care of.
Section 2: The Integration of Offshore Payment Gateway
The integration capabilities of an offshore merchant account are largely dependent on the PSP (Payment Service Provider). Various methods for integrating a payment gateway to a website are HPP, API, SDK (for mobile), and Plug-ins.
HPP
HPP stands for a Hosted Payment Page. The PSP integrates the payment gateway to the website, and the consumer will witness the name of the PSP on the page. On the other hand, HPP is the most simple integration method with High-Security Standards.
Both of the advantages influence the consumers’ payment experience and ease a merchant’s payment processing load.
API
The second and the most flexible integration method is the API. API stands for Application Programming Interface and hence offers better control. The complete payment processing channel is integrated into the website. Therefore, it ensures that a Merchant has full control over the Payment Gateway.
It becomes more vital for Offshore Payment Processing as the Transaction Values could be larger than normal. Furthermore, a Merchant can have the independence to put a brand image and change the looks of the payment gateway. If a PSP provides white-label solutions, they can offer a personalized solution to the Merchants.
Segment 3: Features
Second to the line of duty are the features of a payment gateway that supports online payment processing. These features of an Offshore Payment Gateway enhances the Offshore Payment Processing capabilities of a payment gateway. In other words, a Merchant gets a seamless solution for the business.
LVPS
There are different terms to it but, Amald likes to call it a Large Value Payment System. It offers a merchant to accept a high amount of money hassle-free. Furthermore, it doesn’t limit the transactions and value of the goods or services on the website.
Multi-Currency Support
Multiple currencies are supported by the payment processing channel. Thus, the comfort of paying in the local currency allows a better payment experience for the consumers. In other words, a better brand image of your business can be settled worldwide.
Fraud Prevention System
The FPS or Fraud Prevention System allows a keep the payment free from fraudsters and scammers. A better solution throughout the process is to use cutting-edge systems such as AVS, CVV Checker, Fraud Scoring, Geolocations, etc.
Chargeback Protection
The most important feature in command is the chargeback protection. Amald provides a complete protection over the chargeback amount issued by a consumer. In other words, there will be no aftermaths on the merchant for a chargeback.
Segment 4: Expertise in Offshore Payment Gateway
An important deciding factor in choosing a PSP is the expertise of the service provider. Offshore Payment Processing for a High-Risk Business requires multiple moving connections.
For example, a service provider should have a close tie-up with the international banks. Better support from the credit card processing networks, all the best-in-class services and state-of-the-art solutions with a great team.
It makes the core system of a PSP and provides a seamless offshore payment processing experience.
A merchant needs to research the services of a PSP before choosing it. Another crucial part is checking the rates and charges for getting the payment gateway. Sometimes, a PSP hides certain charges by offering cheap rates. Don’t fall prey to it and check all the details carefully. Always Remember: Never Compromise on Security for Affordability!
Segment 5: Complete Merchant Assistance and 24 x 7 Support!
Both of these services by a Payment Service Provider allows a merchant to be confident of the solutions. High-Risk business is always volatile, and a merchant might need the support anytime.
Amald has two aspects to it.
Complete Merchant Assistance
Firstly, a merchant can request a callback from Amald, which will initiate an executive to respond to the query and reach the merchant promptly. The merchants can share all the requirements and needs for a payment gateway right then and there. It will also help a merchant to personalize the solution for the business.
The direct connection between the merchant and the executive will make the process hassle-free and error-free also. All the document requirements and key points can be discussed thoroughly.
24 x 7 Support
Last but not least is the support by Amald that literally eradicates any residue of tension right from a merchant’s shoulders. Understandably, a problem can arise at any point as an Offshore Payment Gateway is a huge processing system and requires constant surveillance. Thus, there is always an executive available to support your query or complain without any hesitation.
Conclusion
That brings us to the close of the blog. An offshore merchant account will support your online business right from the headstart. The integration capabilities, along with the features, will produce excellent results. Moreover, it will ensure seamless payment processing right on the website. Thus, Amald’s offshore payment processing solutions will be a huge benefit to your business.
Get in touch with our expert team to get a customizable payment gateway for your business. Lastly, it will be the precise support for your business as you can get a global reach with a better consumer experience. Let your business boom in the digital era with Amald’s Offshore Payment Gateway.
Tags : Forex Merchant Account, Payment Gateway Estonia, Merchant Solutions, Payment Gateway in Russia, Online Merchant Account
