Advantages of Offshore Credit Card Processing

In the ever-increasing global market we now live in, offshore merchant accounts enable Internet businesses to increase their sales volumes quite considerably.

One of the main reasons for the growth in the offshore processing industry is the large demand for high risk merchant processing. Many Internet businesses are now classified as high-risk businesses and cannot secure credit card processing at on-shore domestic US banks. Or large processors such as Pay Pal or 2Checkout have shut them down simply because they are classified as a “high-risk business”.

Internet businesses such as online Casinos / Poker, online Pharmacies, replica watch sellers, handbags, athletic shoe sellers, music download companies and travel companies now rely heavily on offshore processing because it offers confidential offshore credit card clearing within stable offshore jurisdictions that allow more favorable and less stringent legislation.

Other merchants require an offshore merchant account because their onshore merchant account has exceeded the sales volumes that they are allowed to process through their onshore domestic bank.

Offshore merchant accounts these days offer multi currency accounts with no hold-backs or reserves, allowing funds to be accepted and settled in many different currencies. Visa, MasterCard, American Express and Diners cards can now be accepted.

Funds can also be settled in offshore companies (International Business Companies or IBC) held in completely private offshore banks in offshore tax-free havens.

Most offshore merchant accounts can be fully integrated into an existing website allowing customers to pay directly on the merchant’s website without the business owner having to collect the customer’s credit card details. The current systems are fully automated, capturing all necessary information (name, credit card number, etc.) on the offshore merchant provider’s own secure transaction page, or a standard transaction page can be hosted on a merchant’s secure server for customers to fill out.

An offshore virtual terminal can also be established allowing merchants to process credit cards from an online terminal without the credit cards having to be present. The merchant only needs the details from the credit card to process in real time from any computer connected to the Internet. Offshore credit card merchant accounts are hands-down the most cost effective payment method for both merchant and customers, saving both time and money.

In fact it is safe to say if you are not accepting credit cards for your Internet business then you’re not a serious player in your industry.

Richard Price is the publisher of http://www.confidentialbanking.com, a resource and service for those seeking offshore banking services, and http://www.confidentialbanking.co.uk, offshore banking services for UK citizens.