Understanding offshore merchant account 

Similar to conventional bank accounts, offshore merchant account is also a kind of bank account. It is for e-merchants who are operational in the non-resident country. It facilitates the e-merchant in processing the payments via their official business website. It also allows for processing other transactions. 

Basics of an offshore merchant account

For e-merchants, it is difficult to get a bank account with local banks. Provided the fact that businesses based on the internet are generally carrying high-risk factors with them, to obtain a merchant account through conventional methods is cumbersome. 

It takes furnishing a series of documents alongside presenting transaction history of credit in local banks. Thus, it becomes futile and time killing process for a merchant account. An offshore merchant account is the best alternative to avoid all such hassles.  

Also, if an online merchant is looking forward to long-term sales projections with a steady pace, an offshore merchant account is a brilliant idea to hit that aim. You will not be getting a massive number of sales with merchant account service providers at the local level. 

Besides, all the above facts, having an offshore merchant account keeps all your dealings discrete, and you can conveniently transfer funds anywhere. Variety of online businesses dealing in a diverse range of genres are likely to get benefitted through an offshore merchant account such as biotechnology, casinos, adult entertainment, imitation products, and lots more.

Hence, Radiant Pay is there to provide you with cost-effective, safe, and hassle-free solutions.

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.

Radiant Pay offers solutions in Offshore Merchant Account. We make available a wide range of solutions which are operational in many countries in Europe. The basic understanding of an offshore merchant account is that it is a type of bank account for sellers who are established in a non-resident country. The payments of services offer can be done online via the sellers websites.

REASON FOR ITS EXISTENCE:

Businesses which are online and at high risk category have snags in reception of payments. If they wish to have local accounts, there is a lot of documentation involved. Also, the banks ask for a history of at least six months. The banks ponder such businesses as high risk, as they consider the probability of such companies to go bankrupt before they pay their loans at a huge possibility. So, merchant account solutions come into effect in such scenarios. Such accounts also allow the dealings to be of discrete nature. A number of companies in various European cities opt for this mode to obtain payment for their businesses.

EXAMPLES OF COMPANIES OPTING FOR THIS SERVICE:

Some businesses that use such offshore business account in UK and Europe are the online drugstores, casinos, tobacco companies, telemarketers, web-hosting services etc.

TECHNOLOGY USED IN SUCH SERVICES:

The technology used to function these merchant accounts solution in London or in other parts of the world use the newest technology and tools. There is no risk of identity theft or the system being hacked. They also use the latest in the technology to prevent frauds.

Though, it may seem unconventional to certain people who run businesses to choose for such services but offshore merchant account is the newest technique in the ways to make payment in Europe and the other cities of the world. . With time, such payment methods will surely get more recognition and be used in large numbers. Details of Radiant Pays offshore merchant account can be read in the following link – http://www.radiantpay.com/offshore.html