Many e-commerce merchants encounter difficulties while trying to find good credit card processing services. With a number of e-commerce industries generalized as “high risk”, many reputed banks are more unlikely to offer merchant accounts to diligent low-risk merchants. This problem regarding high-risk merchant processing can be easily solved by setting up an offshore merchant account.
Similar to traditional merchant accounts, offshore merchant accounts are set up with a bank outside your residential country. Although you are not allowed to practice your business in the same country however the offshore merchant accounts are perfect for high-risk industries. By establishing an offshore company, you can find a bank that will be more willing to associate with you and your business.
Accepting credit card payments via your website plays a key role in attracting new customers and making checkout process much easier. However, the problem doesn’t end here, the merchant account processing sector is very wide and confusing, with a number of merchant account providers, banks and jurisdictions offering a number of solutions, it can be very tricky to understand which bank, jurisdiction or provider to choose from, that can fulfill all your business needs.
If you are an e-commerce merchant in high-risk industries such as online gaming, gambling, Online pharmacy, tech support, multi-level-marketing, Nutra and other businesses, offshore merchant accounts can be the right choice for you. But do remember to select a reliable merchant account provider and the bank that can deliver you all the requirements according to your business needs.