If so, then you need to be able to process international credit, debit and prepaid cards in your store. Having one or several international merchant accounts can help you do just that. Read to find out how your business can benefit by opening an international merchant account.
54% of US digital shoppers have reported buying online from non-American e-commerce stores.
And if you have a US-based business tapping into overseas markets, the stats are equally encouraging: at least 35% of global consumers make purchases in online stores outside of their home countries. E-commerce has done a lot to increase cross-border shopping, and the business opportunities are only growing.
Looking into international merchant accounts can help your business take full advantage of these opportunities.
Any expansion opportunity presents its unique set of problems that also need to be solved. Doing business internationally is no exception.
Domestic solutions will usually suffice when it comes to handling domestic credit and debit cards, but will not always be up for the job when you start accepting payments from abroad. As more new credit cards are introduced in almost every country of the world, having a domestic merchant account can lead to problems with declining international payment cards.
Similarly, processing those international payment cards can be more expensive than domestically issued ones, and the cost can vary by card or by country – meaning that it’s hard for you to predict this variable expense and calculate it into your prices.
Both you and your customers might also be unpleasantly surprised by unexpected currency conversion costs, be it through extra fees or unfavorable currency rates. For the customer it can mean that a purchase costs more than expected, and they’ll never do business with you again (or worse yet, they issue a chargeback). For your business it means the opposite – the revenue coming in may be less than expected.
You can solve these problems by employing cost-effective international merchant services.
By opening an international merchant account with a provider of international merchant services, you don’t only open your business up to more opportunity – you ensure a stable revenue and cash flow.
With 5 Star Processing, you can open an international high risk merchant account that will be able to handle fast revenue growth and a high chargeback ratio. Don’t need a high risk account for your business? No problem, we do low risk accounts, too. Whatever your needs are, we can consult you on the best solutions for your business. And if you choose one of your international merchant accounts, you will get lower fees than anywhere else.
Our team is ready to consult you on what type of merchant account would suit you best, and help you start an application. We have a fast approval process, so you can start processing international payments without the hassle in a matter of days.
Call now at (888) 253 9692, email us at [email protected] or fill out a form here on our website – and we’ll get back to you shortly.