Offshore Merchant Accounts
The PayKings team has international, or as more commonly known, offshore merchant accounts for businesses with payment processing volumes of $20,000-$100,000,000+ per month. Our gateway services give you access to information regarding your offshore merchant account, including individual transactions and batch totals with comprehensive reporting tools. Merchant Payments Acceptance Corp’s end-to-end solutions offer flexible products and international merchant account services that enable merchants to accept nearly all types of electronic payments including major credit cards: MasterCard®, VISA®, American Express®, Discover®, Diners Club International®, signature debit cards Gift and loyalty cards, and ACH.
Why You May Need an Offshore Merchant Account Through PayKings
How do you know if your business needs an international merchant account and why is it important to make sure you have the right merchant account for your business? Not understanding the difference or the importance could have a detrimental impact on your business.
Businesses that have eCommerce components or accept payments from international countries such as Canada, the United Kingdom, or the European Union, have to know who the right payment processors are, and what international merchant account providers who are willing to process transactions for your international business.
Reputable companies, like PayKings, are offering solutions to those businesses that need it most. These payment processors are willing to accept the liability for the increased risk associated with international payment processing. Surprisingly, most merchants who want to expand their business globally are not aware of the risks associated with accepting international payments.
Why is it Important to Have the “Right” Payment Processor for your Offshore Merchant Account?
The main reason to make sure you have the right offshore merchant account for your business is to avoid the chances of your international payments gateway being shut down altogether.
The bank can close your international account and hold funds, even without notice. This means you have no way of selling your products or services internationally, it will stop all cash flow entirely, and the money you earned from the products or services you sold internationally could be held by the banks for months.
When you start off with the international payment processors, you increase the prolonged longevity of the account. The bank’s underwriting or due-diligence does not end after the account has been opened. There is ongoing risk monitoring that is associated with all offshore merchant accounts.
Many eCommerce companies and businesses processing international payments outside the United States have difficulty finding international merchant accounts and therefore can’t expand their presence online. Consequently, e-commerce merchants reach a plateau, and are not able to process multi-currency transactions. Without global merchant accounts, the ceiling for an eCommerce business is rather low.
Don’t Miss Out on International Business
Starting out with the international merchant account betters the odds that the acquiring banks will be more lenient. Give your customers the opportunity to pay with a global merchant account in their local currency. Grow your business and achieve new markets. Many times the approval process can be quick and many companies like PayKings provide free quotes for your international merchant account.
Our assortment of online, real-time payment processing options allows you as an online retailer, the opportunity to expand your company around the world to places like Canada, the United Kingdom, the European Union, Caribbean, and more.