Easy Ways To Facilitate Offshore Merchant Accounts

What is An Offshore merchant Account Service?

We know very well about the Merchant Account Services, all we need to understand is The term “offshore”, Well It is a type of account for a merchant opened and approved in a non-resident country. So it's a direct account but not a domestic Account. It helps the merchant to process payments through their website and allows them in making the transaction and process their sale. It offers and contains all the features just like the regular and domestic merchant Account even there can also be both the categories which can be supported like High-risk Business and Low-risk Business.

Often People Consider That Offshore merchant account is dedicated to High-Risk Businesses or for Such businesses which can not be approved by their Domestic Banks. But this is not the case its only the location making difference because the bank approving the business is not a domestic Bank or a bank from the Resident Country.

Its Also known as an international merchant account, and in this Context, we can say that it's especially beneficial for the multinational or international merchant. And therefore Offshore merchants Can Sell products to their Customers from different and many Countries Online and provide the solution for Credit card Debit card Processing and even in their own country currency.

International Merchant Accounts empower online businesses with the safety and effectiveness of credit cards. Global payment solutions yielded by these accounts enable merchants to accept multiple currencies of different denominations from their global clients over the internet. International merchant accounts assist in conducting overseas transactions but they aren’t always provided to client businesses operating beyond France, Germany, Italy, UK and US.

What Care needs to be taken while choosing an Offshore merchant service provider : 

• In order to get a smooth processing solution under Offshore Merchant Service category which can be helpful in growing your business one needs to be careful and follow these Steps.
• International Payment gateway: getting the only Offshore merchant account is not Enough but the gateway along with the account should also be an International Gateway.
• Currency Support: It Should be Confirmed in Advance that Account given will Support required Currency.
• Advanced Security/ verification: To protect the transaction there must be advanced Security enabled… like 3Dsecure, Card verification, Address verification facilities.
• Customer Service and Support: Your Account Service Provider must be having a 24*7 and a very Supportive and caring Customer care/Support System in order to provide you with any sales or technical Support at the time of requirement
• On Time payout: Above all the payout must be on time which is a major requirement of each and every merchant.

Merchant Stronghold’s Offshore merchant Services : 

Since Merchant Stronghold started making its presence felt in the market Things have changed. We are a credit-card processing company serving high-profile clients in more than 10 nations worldwide. Merchant acquiring banks in each of these countries have made it easier for us develop such a strong payment processing platform. A majority of online offshore businesses can now avail international merchant accounts due to this merchant acquiring collaboration. Currently, Merchant Stronghold accounts for innumerable international merchant accounts indulging in the processing of payments involving multiple currencies. Payments involving such currencies are beneficial for both moto and online business across 50 nations. An entirely new experience involving credit cards is delivered by this feature.

You’ll be able to utilize specific features once you open your international merchant account with us. Such features may include features for screening frauds, virtual merchant management centre and shopping cart software.

Precious Tips To Help You Get Better At Credit Card Information

Use of credit card for making online purchases is very common nowadays. But due to incidences, like data breaching; customers are more concerned about how sensitive data (personal information of customer as well as credit card details) is being handled by merchants. As a merchant, you need to open a merchant account to carry out transactions and if your payment processor accepts credit card payment, you as a business owner is contractually obligated to provide security to your customer’s sensitive information shared while completing transaction process, which is imprinted in the contract you signed. If you are using third-party software to manage customer’s information, it should be able to protect all the information of your customer.

Here are five tips for proper handling the credit card information of your customer.

1. Use Approved Software: When a merchant uses POS (Point of Sale) terminal, mobile running payment processor software or swipe machine to conduct transactions, as a merchant it is your duty to make sure that your hardware, as well as software, is PCI Compliant. There are many applications and card readers available that come with security loopholes. So, it is advisable to choose reputable hardware and software vendors who take full responsibility for the integrity of their product. For the long run and good reputation of your business make sure to use tested and approved solution.

2. Genuine Service Provider: You can avail services of a reputed service provider to install credit card processing software, manage credit card processing as well as credit card storage for your business. Service provider includes:

SaaS (Web-based software)
IVR phone services

It might also include companies to which the merchant outsources payment-processing functions. Through extensive testing of these service providers, you can make sure that they are trustworthy. Qualified Security Assessor (QSA) who performs a comprehensive audit of policies, procedures and the system of the service providers does this type of testing. You can only use PCI DSS Validated service provider as a part of the contract signed.

3. Storage of Sensitive Information: Payment processing regulations specifically prohibit the storage of credit card security code or any data contained in the magnetic strip of a credit card, although you may have business reasons for storing credit card information. The card security number is designed to know whether a customer who is using the card over the phone or internet actually does have the card in his possession. But if the security code is stolen, this approach will not work. In the magnetic stick, which is on the backside of the credit card, track data is stored, which contains the information of the account that is otherwise not displayed on the card. This data assists with authentication and the card cannot be forged.

4. Encrypted Electronic Storage: For recurring payment authorization or mail order authorization, the merchant might have to store credit card number. If such sensitive data is stored as paper documents, it should be stored in a secure place. If you process recurring transactions, you can also store credit card number via electronic storage but make sure that these files are well encrypted using a robust encrypted algorithm before storing. This provides protection against unauthorized access or if you lose your computer.

5. Phone Recording: To monitor the service quality and proof of payment authorization, a merchant might want to record the phone orders. It is advisable to encrypt recorded calls immediately and store it digitally in a limited access, password protected directory. Additionally, make sure that there is no other software attached to this storage system as it may expose these stored credit card numbers.

By simply following these five steps, you can meet your contractual requirements to protect credit card account information and the merchant can be PCI compliant. It will also help merchant in gaining customer’s confidence and loyalty, which will help in increasing the revenue.

Small But Important Things To Observe In E-Commerce Credit Card Processing.

The time when e-commerce was introduced, it was expensive as well as complicated. In addition, it was difficult to implement it in the marketplace, but today it has become a common place to do business. For small businesses, e-commerce has been proven as one of the most important advancement. Small businesses can reach those customers through virtual market whom they could not in the physical world. Even opening a merchant account has not remained stressful, as it was earlier. But every coin has two sides; along with the advantages, there are some pitfalls especially, in case of credit card processing. Traps like hidden cost/fee, unclear or confusing contracts can easily lead the business down the road from where the businesses would hardly return. So, it is important to have a good understanding about merchant processing agreement before getting into it.

This article will arm you with the knowledge to avoid common mistakes that are made while choosing a credit card processor. These mistakes go as follows:


Terms and Conditions

There are a very few business owners who read the terms and conditions very carefully before signing the agreement for credit card processor as it is bulky and at times very confusing. This is the main reason why most of the businesses get surprised and bear the impacts of it on their revenue. So it is advisable to take your sweet time and go through it very carefully without missing any part of it. You never know what you will find in there and if something confuses you or generates suspicious, do not hesitate to ask your potential processor to get the clearer picture. Make sure that all the issues are resolved and clarified before signing the contract.

Information about the Fee Charged

Every credit card processor charges a nominal fee for its services but there are some processors that will try to slip in hidden charges or additional charges without letting the merchant know about it. Although fees are a reasonable and normal part of credit card processing, it is wise to ask for breakage of the same in order to have a clearer picture of it and avoid being fooled by credit card processors. Study the pricing table (can be provided by the card processor when asked for) very carefully and ask as many questions as you can to have a complete understanding of the fee structure. If you think that you don’t understand anything or find it suspicious, ask the processor or look for a new credit card processor.

Signing for Volume

If you are starting a new business or you already own a small or mid-size business, it becomes difficult to predict the monthly sales in advance. But if you want to get a credit card processor for your business, you would have to sign an agreement with a minimum monthly sales requirement, and if your business fails to fulfil this condition, an extra fee will be charged as penalty. Such charges are considered unfair to small businesses. So it is important to read the agreement fully to find any loopholes and avoid them, if possible.

Search for Options

It is a good idea to look for options available in the market and what they have to offer you before signing the contract for you high-risk business. Do not make mistake by signing for merchant payment processing with the very first e-commerce payment processor. Doing so can never give you the knowledge of what other payment processors have to offer. It will be beneficiary to read the reviews and talk to the processors personally rather than pursuing them on recommendations. Take your time in choosing the right credit card processor for your business but make sure that whichever processor you chose is affordable, transparent and responsive. If you take these measures, you will never regret your decision.

Secure Merchant Account That Will Actually Make Your Life Better

To Create a Secure Merchant Account Tips:

In United States, Internet Secure affords merchant account services. If someone started a business as owner then they unified with the Internet Secure merchant gateway where provide authorization to payment process through any method like order forms, shopping cart, or standard orders.

WHY SHOULD A SECURE MERCHANT ACCOUNT BE REQUIRED?

For a business owner, it’s stressful that merchant account will go to rejection. A contradiction might make you question to your business existence. In fact, denial of an entire channel of payment processing probably crippling impact on business.

DEPEND ON CREDIT HISTORY

A provider has checked the personal credit history of customer i.e. revealing trouble of paying bills. A merchant services provider does not want to get on a customer who can view as a susceptibility, even if a customer that pay in a good proceeding of profit will have to reduce the value to a bad credit history.

NOT DEPEND ON YOUR BUSINESS TYPE

A merchant will be labelled as a High-Risk Business and High Risk commit to a raised percentage of chargebacks, it can solely point to the published brand blended with the type of business.When a customer attempts to chargebacks for pay back his credit for one reason or another. The method of fighting chargebacks needs some time and if the merchant loses chargebacks, then it costs everyone who associated.

TO CREATE A SECURE MERCHANT ACCOUNT TIPS

If business owner looking a Secure Merchant Account follow these steps:

Create a Business Required Strategy
Before reaching merchant services, Recognize some circumstances:

Should be looking which payment type preferred by customers.
Which you prefer for order and transactions i.e. phone order or online transactions.
You are providing recurring fees support system.
Above factors will help you to determine the best type of merchant account for business. A merchant may need a secure payment gateway for their business to take securely order at over day and i.e. integrate with website. If you willing to recurring monthly payment then you should able to take Automated Clearing House payments.

Comparing Option should be the start
You may research the market and their find at least ones that give you an idea to make enticing for your business. When you appoint a salesman and talking about your product who agrees on low processing fees, you should ask yourself how they can manage to obtain it so low?The real risk of low budget companies when sacrificing on quality and trouble with satisfaction can take businesses down.

Able to Setting it up and Moving Better
By the way, this is different from determining a business leader, for a powerful way to grow their business and moving instantly.Sometimes a merchant takes so many days to fulfil every step included with getting account activation. Sometimes a merchant takes so many days to fulfil every step included with getting account activation. But if you had a planned to set up your business, may take minimum time to become the business track.

High Risk Merchant Account for Tech Support in USA | Why it is a High Risk Industry

Tech Support Merchant Account Provider For retail merchants, it is pretty easy to get a payment processor but it’s not the same with tech support businesses. This is due to high rate of chargeback risk involved. So when you are looking for a merchant account provider, you should always ask them certain questions before applying. These questions could go as follows:

Do you provide high-risk merchant account for tech support businesses?

• What about remote tech support (if relevant)?
• Does underwriting department approve of it?

At times salesperson will assure you that they do provide service to tech support business and after you complete the process of applying for it, and send it for approval to underwriting department; you might find out that your application is rejected because they do not support tech support business.

Can Merchant Stronghold help?

Merchant Stronghold has expertise in providing all-inclusive high-risk credit card processing services to tech support merchants. To get the high-risk merchant account for your business, you have to fill the application form and provide us with all the information. We will respond you back through e-mail with the list of pricing and terms as per your requirements. Once your application is approved, you can start processing. To make the process easier for you, we can also set up your chargeback management tools and payment gateway.

Underwriter’s Requirement

When you fill the application form for opening a high-risk merchant account for your tech support business, it is forwarded to underwriting department for approval. The underwriter’s role is to make sure that the business is good for the credit card processor to take on and it’s worth the risk. Underwriter looks for any type of loopholes in your application and the likelihood of the credit card processor facing the losses on the account. This can occur due to the high number of chargebacks that went unpaid, unpaid billing or fines imposed either by the government or card brand or the sponsor bank. These reasons are proved to be good enough for declaring a merchant as fraudulent and rejecting the application for a high-risk merchant account.