Why Opt for Offshore Merchant Account
These days, the majority of people prefer buying products and services online. Indeed, it is very convenient for customers to shop online without leaving comfort of their homes. Running online business is different from offline entrepreneurship. One of the main problems was to accept payments from customers. Checks and mail orders are not the most efficient options. With the emergence of online merchant accounts this problem has been solved. Offshore merchant accounts are perhaps the most popular merchant account types among various businesses and retail markets. There are lots of advantages of offshore merchant accounts, namely easy application, zero or low initial deposit, tax benefits, security and safety of account, fast transactions etc.
Almost 80% of customers prefer using their credit and debit cards to pay for products and services online. Thus, establishment of an offshore merchant account will certainly increase sales and cash flow which positively affects company well being. Letâ€™s review a few advantages of having an offshore merchant account.
Easy application process
The application process is quite simple and takes up to a week, depending on merchant account provider you have chosen. As a rule, offshore merchant account providers to dot set strict guidelines and rules regarding application.
Zero or no start up costs (deposit)
Domestic merchant account providers will usually require huge initial deposit from applicants. Small online businesses cannot afford paying much money. Offshore merchant account providers do not have such demand, and this makes their offers affordable.
No or little taxes
Offshore merchant account providers are often registered and located in other countries. Consequently, high taxes do not regulate processing of credit and debit cards. This is a great advantage since many countries have very low taxes and tax burden for businesses as compared to the US or European countries. This is an additional benefit for small online businesses.
Various credit cards, different currencies
The more credit card types you are able to accept the more customers you have. Besides, acceptance of various currencies is also very important. If you own a retail online store you may have customers from other countries. It is not problematic to ship products to foreign countries. The greatest concern is whether or not your merchant account accepts different currencies, like euro or Canadian dollar. Offshore merchant accounts as a rule offer a wide choice of accepted credit cards and currencies. However, if your business is focused on domestic market only this is not a good option for you.
Privacy of personal and financial information, safety and security
Online frauds and scams are very common these days. Thus, you need to find a merchant account provider that guarantees safety of personal and financial information. Top offshore merchant account providers use the latest technologies to protect information and prevent info leakage and make all transactions 100% safe.
Excellent payment gateway and quick payments
Opt for offshore merchant account that offers reliable payment gateways. Your web site should be ready to process payments round the clock. Every second the site is up customers may visit it and buy from your company.
It is important that processing of a credit or debit card takes a few second. This time, however, depends on the type of merchant account you opt for. For, example there are delayed merchant accounts that require manual input of information.
Many offshore merchant accounts offer free shopping cart scripts that can be embedded to the site code. Thus, your customers will need just a few clicks to buy products.