Credit Card Offshore Merchant Account

What is a credit card offshore merchant account?

A credit card offshore merchant account is a merchant account that is not in your own backyard. In other words, a credit card offshore merchant account is one that is based outside of the United States. Think about the internet, and what it has done for us. We can communicate to anyone, anywhere in the world, and shop anywhere in the world. Shouldn't we be able to bank anywhere in the world? With a credit card offshore merchant account, you are choosing to have a merchant account that could be based in Russia, Germany, even Singapore or China. There are many benefits to having a credit card offshore merchant account, which I will explain about shortly.

Why use a credit card offshore merchant account?

A company may choose to use a credit card offshore merchant account because of the benefits and advantages associated with it. One big advantage to using a credit card offshore merchant account is that you can often price and process payments that are of multiple currencies, rather than forcing clients and customers to pay in United States dollars. Other key advantages to having a credit card offshore merchant account rather than an onshore merchant account include: multi-jurisdictional payment solutions, little or no tax applied to sales and profits, and access to international markets.

Who is eligible for a credit card offshore merchant account?

The banks and other financial institutions that offer their clients the ability to have a credit card offshore merchant account in place of an onshore merchant account usually set limitations on who does and does not qualify for a credit card offshore merchant account. However, I can tell you that one type of business that almost always qualifies for the use of a credit card offshore merchant account is the type of business that does not do face-to-face transactions. These businesses include online businesses, mail order businesses and businesses that handle transactions and purchases over the phone.

I have a high risk business. Is a credit card offshore merchant account right for me?

In many cases, yes! As you learn more about credit card offshore merchant accounts, you will find that there are not so many limitations on them as there are on most onshore merchant accounts. With a credit card offshore merchant account, you will find many restrictions to be loosened, or not present at all. Businesses classified as high risk may have no problem obtaining a credit card offshore merchant account. Furthermore, businesses that find themselves having volume caps and being penalized for exceeding them will find that there are no such limitations with a credit card offshore merchant account.