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Offshore Merchant Account

The ins and outs of an offshore merchant account

As e-commerce is rising and your business opportunities are growing every year, it is become increasingly more attractive to get an offshore merchant account for your business. 

 

Read here to learn about the advantages of having an offshore merchant account, and find out how you can open one in a matter of days. 

 

Advantages of having an offshore merchant account

Often, the first time a business owner considers getting an offshore merchant account is when their online is growing and they want to do more sales outside their own country borders. An international merchant account, or an offshore merchant account, can make this transition easier. 

 

First off, you don’t have to deal with the same domestic banks that you are used to. This is especially relevant if you operate in a high-risk industry, because then you need an alternative to regular banks who won’t provide you with a merchant account. Providers offshore merchant accounts can, however, open a high risk merchant account for you.

 

An offshore merchant account will also be better suited for accepting and processing payments in different currencies. This will make it easier for you to expand your customer base and grow your market share. 

 

The number of consumers who are willing to shop in a foreign e-commerce store is growing every year (in 2020 it’s up to 35% of global consumers), but they are still more likely to take this step if they can actually see prices and pay in their own currency. An offshore merchant account can facilitate this by removing the uncertainty of unknown exchange rate as well as exchange fees. 

 

Offshore merchant accounts are also usually more flexible and less limited than domestic merchant accounts. This allows your business to grow in revenue without suddenly hitting a cap that will stop your growth and cost you your profits. 

 

And finally, if your business doesn’t have a good credit score in the US, it won’t affect your chances of getting an offshore merchant account. This is very relevant if your business has many chargebacks or has some other kind of bad credit history working against it with domestic providers. 

 

5 Star Processing can help you

We have extensive experience in helping businesses get offshore merchant accounts, high risk merchant accounts, and payment gateways. 

 

We’ve already worked with more than 5,261 happy customers and are very familiar with the ins and outs of having an offshore account. 

 

Let us advise you on whether an offshore merchant account can be beneficial to your business and how you can proceed. 

 

In addition to very low rates for opening an account and low credit card processing fees, we can also handle your account application in a very short period of time. 

 

Contact us today to get started

Call our offshore merchant account experts today at (888) 253 9692, or send an email to [email protected] so that you can get started. 

 

Our team will answer any and all of your questions, and help you begin your application process, so that you can start processing payments via an offshore account in no time.

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