Offshore Merchant Accounts Have Many Uses

When you are looking for a great way to manage your money and take credit card payments, an offshore merchant account is a great way to do business. Offshore merchant accounts offer you a reliable way to process high-risk accounts.

For example, when the credit card is not present or if you have a high risk of chargebacks, this form of credit card processing might be for you. When you need next day funding options mixed with a very competitive rate, GatewayPay is the account for you.

Another benefit of a GatewayPay offshore merchant account is that with this system, you can take eChecks, and many currency forms can be converted. This allows you the ability and the security to process the charges you need to with much lower risk.

Many other processing companies will charge you high rates or not allow you to even take the customer's card over the telephone. We are happy to provide this service to their customers and friends.

We understand the business environment of the card not being present and the ability to use it for the phone order. Because we use many currency sources, we can provide this service at a lower risk to people who use our service.

We even have a built in system that helps with chargeback prevention. This system notifies the merchant about a charge back that could occur and allows the merchant to become aware before it happens. This can save time and money in the long run.

Are Off Shore Accounts the Right Move for High Risk Merchant Accounts?

When a business has been categorized for high risk merchant accounts, higher transaction fees are not the only thing to worry about. A business should immediately start to consider what it will take to lower their risk category. Much like a credit rating, it will take time and a plethora of smooth transactions before a business is no longer categorized for high risk merchant accounts.

A company can be given a high risk assessment because of a large number of charge backs and other transactions that lost money. It is also true that some companies, simply by the nature of their business, will be considered high risk.  Areas such as online gambling, travel, online pharmacies, adult sites, downloadable software, loan modification companies, and many others are considered high risk. The most common factors are the speed at which some of these companies startup and fizzle out online, as well as the regularity of high charge backs on credit cards for these businesses. If you find your business as a high risk, you may want to look at an off shore merchant account.

Off shore banks will always have high transaction fees because they inherently take more risk by not doing business in the country of their customer. If there is a default, which leads to the need to pursue money a bank has lost, they are at a disadvantage being offshore and it is more than likely they will end up losing money. This higher risk is factored into the transaction fees. However, a business placed in the high risk merchant category is already going to pay higher rates from local banks and it will often be beneficial to use an offshore merchant account. This is especially true when tax factors are considered. In fact, this tax free solution is often attractive to a business even when they are not categorized as a high risk merchant account. If you find your business in a high risk category for a merchant account, the off shore rates combined with the tax advantages may be the best way to get your business on track with credit card processing.