Offshore Merchant Accounts
Many types of companies need to find merchant accounts offshore
Times are changing, and so too are the ways we do business. Offshore Merchant accounts didn't even exist a few years ago. Now, they are one of the fastest growing segments of international business. This is especially true in the case for high-risk companies. The types of merchant accounts that might look offshore for approval are varied and can include:
And that's just to name a few. These companies all have at least one thing in common. They are all considered high-risk by acquiring banks. As a result, they typically have a very difficult time getting approved by domestic banks and thus turn to offshore merchant accounts to help their businesses continue operating. You might wonder how you could possibly get approved for an Offshore Merchant Account and how detrimental it might be to your business if you were denied. However, if you're wondering what your company has done to merit the label "high-risk", the answer is slightly more complicated.
Merchant accounts can be designated "high-risk" for a variety of different reasons. For instance, E-commerce merchant accounts are deemed high-risk due to the lack of a physical signature given by the customer. Companies looking for Adult merchant accounts might have trouble getting approved due to the stigma that has been placed on their industries. Another very common reason for the high-risk label is that some types of merchant accounts, such as a recurring billing merchant account, typically experiences a very high number of chargebacks. This can have a very bad effect on cash flows for both your business as well as the bank. Banks fear that chargebacks occur much more frequently with those industries so they label them high-risk. Many times, the only way to get an approval is to look for your merchant account offshore in a country with looser laws.
With contacts all across the globe, Merchant Discount Rate can find you the perfect offshore merchant account. If you fall under the high-risk category, don't waste your time getting turned down from every domestic bank you turn to. Our experts at Merchant Discount Rate have experience dealing with merchant accounts in virtually every sector of the planet. We know where to send your file and increase your chances for an approval, as well as the best rates you will find anywhere for your industry. Take control of your finances. Contact us at Merchant Discount Rate today and let us put the power back in your hands.