Offshore High Risk Merchant Account

An offshore high risk merchant account gives a boost to those companies that built an ecommerce website from scratch to increase the local, community abroad. Many business start ups need capital and inquire about high risk merchant services.

What is an Offshore High Risk Merchant Account? Why do I need it?

To enable the receipt of credit card/debit card payments from customers in return for the products you sale and the services you render through your online business, a merchant account is required. As a business owner, for financial and legal purposes and to ensure the legitimacy of your business, you will need the name of your business to appear on the credit card statement of your customers.

Business really search for quality offshore high risk merchant account providers to assist them.

The following are the various types of internet merchant accounts:
1. Over-the-Counter (OTC) Merchant Account: the OTC merchant account is well suited for shops and stores where the buyer and seller will be physically present in front of a counter. The credit card is swiped through a POS machine while both parties are present. Due to the low risk of fraud, the account is inexpensive and has fees lower than 2%.

2. Internet Merchant Accounts: many online businesses sell their products or services over the internet through a website. To cater to the needs of such businesses, where the buyer and seller will not be physically present, an Internet Merchant Account is set up. They may engage in the selling of standard goods or goods that are classified as risky. Due to the general risk associated with Internet Merchant Accounts because of the higher chances of defrauding customers and the stealing of credit card information, Internet Merchant Accounts have higher rates, i.e. between 2.50 % and 4% for regular online trading and above 5% for high risk trade.

a. High Risk Merchant Account: this type of account specifically targets the needs of internet merchants that sell products or services that involve a higher risk of fraud and have a higher chance of turning out to be illegal; examples include drugs, gambling, adult content, etc.

3. MOTO (Mail Order/Telephone Order) Merchant Account: the MOTO account is another type of Internet Merchant Account but is typically set up when credit card information is manually keyed in by the business owner after details have been supplied by the customer through an online form. The rates are similar to that of the standard Internet Merchant Account mentioned above.

For large online businesses with a high overturn of monthly volume, you will require that the name of your business appear on the customer’s credit card in order to identify who the payment was made to. After properly identifying the needs of your business, you should check which type of merchant account suits your business best.

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In some cases, you will find that it is more appropriate to have a MOTO account so that you are able to physically input credit card details of customers for a more personalized touch that makes buyers feel more secure. This type of merchant account takes buyers to an online form where they are required to input their credit card details, billing information and address, etc.

The online form transfers these details to the business owner, where the owner manually types in the credit card information in order for the transaction to proceed. Funds are then displaced from the customer’s account into your account.

Given the variety of merchant accounts available, these accounts can be tailor-made to fit businesses according to their specific requirements. Business owners are generally dissuaded from opening a merchant account under the belief that their scope of activities is too small to warrant the setting up of a merchant account.

Orbit Specializes In Advanced Merchant Services for Their Customers

Businesses falsely believe they have little or no chances of being accepted for a merchant account, and therefore, end up never applying for it. However, these are false pretenses for not setting up a merchant account as most merchant account providers have an acceptance rate of 98%.

Furthermore, many business owners feel that they do not need to incur the unnecessary expense of accepting credit cards/debit cards. They feel it is better, in comparison, to set up a merchant account through a 3rd party such as PayPal. However, 3rd party merchant accounts also take a commission for the services and it is better to set up your own account to ensure low costs in the long term.

As online businesses exceed in number and variety, they are increasingly becoming dependent on one simple factor: whether they can receive credit card payments from customers globally through their website or retail store. Customers no longer want to always have to travel to shops to buy products; they would much rather prefer shopping from the sanctity of their homes by volunteering their credit card details.

It is your responsibility to choose a merchant account that can easily, and with the utmost security, process credit card information without any leak of information that may result in fraudulent schemes that turn away customers. You do no need to worry about your offshore high risk business situation with Orbit.

Get started today and fill out the application: [ APPLY FOR AN OFFSHORE MERCHANT ACCOUNT ]