Has your company faced challenges with a current provider or been turned down when trying to obtain a merchant account for your business? If so, you’re not alone. At The Transaction Group we have helped many businesses secure an offshore merchant account. Off shore credit card processing is a solution for businesses that are considered high risk by sometimes overly conservative banks.
Businesses that are considered high risk include many ecommerce sites relating to adult material or adult entertainment, online gambling, travel agencies, internet auctions, online pharmacies, e-cigarettes and tobacco products.
For these types of business, especially new businesses that don’t have a processing history, obtaining a merchant account in the high risk category can be frustrating. The application process may seem never-ending as the banking underwriters comb through details of credit history, support documentation, and judge your business based on their values.
Being declined, contacting another provider, restarting the process again and again is overwhelming and exhausting. If you’ve experienced this from domestic providers, it’s time to apply for an offshore merchant account.
There are many benefits of an offshore merchant account that are not available to a domestic or local account, including the ability to approve merchants that have been placed on the TMF (terminated merchant file) list, or have poor credit.
Additional benefits include:
• Few restrictions or limitations to business type
• An easy application and approval process
• Low tax or no tax on transactions
• The ability and ease for worldwide transactions
• Discreet transactions
• Safe and secure processing
• Instant payment on transactions
If your business is in the high risk category and you have turned down, recently shut down or are just getting off the ground we’d be happy to help.