In association with our partners, PayWorld can offer, for a limited time only, a new ecommerce package designed specifically for low risk businesses. If you operate a low risk business with any trading history, apply
Merchant Account Services
PayWorld services for
offshore merchant accounts
offshore merchant accounts explained
What is
an offshore merchant account?
It is
essential in this day and age
for online businesses to be able
to process credit card
transactions online. To have the
ability to do this you would
require a merchant account to
process card not present
transactions on your website.
Most individuals, new start-ups
and existing businesses will
find it difficult to obtain a
merchant account as they will
approach their local banks for a
domestic merchant account and if
they have do not meet the
certain criteria in most cases
they will be refused a merchant
account.
For
business approaching
local banks for a
merchant account for
credit card processing
they will generally
find:
Banks
will require a business
to have been operating
for at last 2 years or
more, with a credit card
processing history.
Banks
will require a security
deposit of around $5000
or more.
Banks
will hold back monthly
card payments to cover
possible chargeback
refunds.
Banks
will tend not to take on
High Risk merchants
carry increased
financial risk, even if
they provide you a
merchant account the
card processing rates or
too high.
Business with high
volume turnover is
considered high risk, as
well as if you business
grows too rapidly i.e.
your monthly turnover
goes from $20, 000 to
$30, 000 you may
suspected of money
laundering and your
merchant account is
taken away.
Generally it may be hard
to get a merchant
account for businesses
located outside of the
UK or US.
Therefore the only
solution for
individuals, new
start-ups and normal
businesses to accept
credit cards and process
orders online is to look
for an offshore merchant
account. Offshore
merchant accounts
generally provide much
better service,
especially for high risk
merchants and those
located outside of the
US. In SOME CASES the
rates you pay may be
slightly more than
normal discount rates,
however the benefits
of having an offshore
merchant account are:
You can get a merchant
account for high risk
businesses, dont have
to worry about previous
TMF or Match file.
Better level of service
by the banks, as they
are happy to deal with
high risk merchants.
Reduced taxes: you can
earn as much as you
want, as your banking
is all offshore means
more profit.
You can get easy access
to funds and funds can
be placed into any bank
account worldwide you
choose!
This is generally a more
economical and cost
effective solution for
most online businesses
as there are less
stringent rates and fees
to pay.
Payworld can help you in
getting an offshore
merchant account.
