An offshore merchant account is for credit card processing mostly for online store. If talking about credit card merchant account, then any business comes under high-risk. Means if there is a high return rate of the sold product, then the company is high risk like Amazon, Yahoo, play store, broker, airline, auction, casino, and other business. Moreover, the credit card processing is a common thing in offshore merchant account to accept account in all currencies and requires offshore banking as well.
Why do you need an offshore merchant account?
Radiant pay’s Merchant account solution is for a high-risk business with a reasonable processing fee as per low, medium, and high risk. If the owner is terrible credit history, the industry is owned by UK entity with the transaction in India—means product and services could be local or illegal, federal and state law for online business, etc. are the things that determine the risk factor of eCommerce. These entities only require an offshore business account in the UK for credit card processing. To apply for the merchant in European countries, business owners must have a bank account in their jurisdiction where prospective credit card will process.
In simple words, the offshore merchant solutions increase the sales projection rapidly, discrete in dealing, allows anywhere transfer of funds, it gives benefit in tax if the business is set up in the no-tax country. Most online traders are benefited when operating remotely in different locations and acquire a vast customer base.