Tag Archives: offshore merchant account

In the dynamic landscape of global business, offshore ventures are becoming increasingly popular. As businesses expand beyond borders, the need for efficient payment solutions becomes paramount. One such solution provider leading the way is Radiant Pay, offering a comprehensive merchant account for offshore businesses. Let’s delve into the advantages that come with this partnership.

Global Reach, Local Expertise:

Radiant Pay understands the unique needs of offshore businesses. With a merchant account tailored to cater to international transactions, your business gains a global reach while benefiting from Radiant Pay’s local expertise.

Diverse Payment Options:

In the ever-evolving world of e-commerce, customers expect a variety of payment options. Radiant Pay’s merchant account ensures your offshore business can accept payments through multiple channels, providing convenience for your customers and increasing your market reach.

Secure Transactions:

Security is a top priority in the online business realm. Radiant Pay employs cutting-edge security measures, safeguarding your transactions and customer data. With encryption protocols and fraud prevention tools, you can focus on growing your business without worrying about security breaches.

Quick and Seamless Set-Up:

Time is of the essence in business. Radiant Pay streamlines the set-up process for your merchant account, ensuring that your offshore business can start accepting payments swiftly and efficiently.

Currency Flexibility:

Offshore businesses often deal with transactions in multiple currencies. Radiant Pay’s merchant account supports various currencies, allowing you to conduct transactions in the currency most suitable for your customers, minimizing currency conversion hassles.

24/7 Customer Support:

Business doesn’t sleep, and neither does Radiant Pay’s support. Enjoy round-the-clock customer service to address any concerns or issues promptly, ensuring smooth operations for your offshore business at any time of the day.

Competitive Rates and Fees:

Running an offshore business involves managing costs effectively. Radiant Pay offers competitive rates and transparent fee structures, allowing you to optimize your expenses and maximize your profits.

Compliance with Regulations:

Navigating international regulations can be challenging. Radiant Pay ensures that your merchant account complies with relevant regulations, providing peace of mind and allowing you to focus on growing your offshore business.

In conclusion, partnering with Radiant Pay for your offshore business’s merchant account brings forth a myriad of advantages. From global reach and diverse payment options to secure transactions and 24/7 support, Radiant Pay emerges as a reliable solution provider, propelling your business towards success in the international market.

Payment Processing for Offshore Merchant Account

June 1, 2022 admin 5 Comments

An offshore high-risk merchant account is required for merchants having international buyers or consumers to accept payments. The acquiring bank or offshore payment processor is based in a different country than the company’s headquarters.

An offshore merchant account is similar to that of an international merchant account. The line that differentiates these two is that the US bank considers the offshore account a high-risk account, whereas the international merchant account is a standard or high-risk account.

Are you wondering why merchants don’t just choose the international merchant account option? Here are some of the reasons high-risk businesses opt for offshore credit card processing.

Industry type, processing volumes, tax considerations, diversification, and targeted markets are all reasons why high-risk merchants open offshore merchant accounts. Because of the products or services they sell, certain high-risk merchants are not eligible for US merchant accounts. Forex trading platforms, online gambling and sportsbooks, adult entertainment, and nutraceuticals are just a few examples of businesses that use offshore merchant accounts.

Due to the nature of their business, offshore merchant accounts are ideal for processing payments for merchants who, are unable to obtain a domestic merchant account.

What are the necessities for opening an Offshore Merchant Account?

A government-issued photo ID,
A check that has been voided,
The most recent three months of bank statements,
An SSN (Social Security Number) and/or an EIN (Employer Identification Number)
A fully functional, secure website, or in a dev environment

Benefits of Offshore Merchant Account.

If you’re a global corporation, having a local bank in the market where your customers are located can be advantageous. Different countries regulate the banking industry differently, creating a favorable environment for banks and processors to work with high-risk businesses. This will allow you to accept payments directly without having to make any currency exchange, which could reduce your earnings while also lowering your tax liability and lowering the risk of credit card fraud.

The world is converting into a single marketplace, allowing online merchants to expand beyond national borders, boosting sales and profits. You could manage all payment processing accounts from a single control panel thanks to a single plug-in to the offshore payment gateways.

On a global or individual account basis, reporting, accounting, and reconciliation of processing data are all easily accessible. Offshore merchant accounts could indeed help you save money on operations. In the local currency, pay local vendors, workers, and overhead expenses. To increase sales, offshore merchant accounts can include preferred “in-country” alternative payment methods.

Tips for Getting Offshore Credit Card Merchant Accounts Approved Quickly

Positive cash flows should be shown in business bank statements.
Ecommerce websites must be working in condition
Post refund and privacy policies on websites
It’s great if chargebacks are low. If not, include a brief explanation of why chargebacks are increasing and what steps are being taken to reduce chargebacks.

Radiant Pay team is a powerhouse of brilliant minds who collaborate to deliver comprehensive solutions that are tailored specifically for your company! We have a broad understanding of payment dynamics in a variety of industries. We can help your business qualify for credit card acceptance from our vast pool of offshore banking partners at a low cost for Offshore Merchant Account Solutions thanks to our experience and scalable payment solutions.

Business services, digital payment system, Forex Merchant Account Services, Forex Trading, Offshore Merchant Account

Accept High Volume Sales with Offshore Merchant Account

December 7, 2021 admin Leave a comment

Being in an online business every merchant wants to know a way to demote their levy liability for their e-commerce business and moving the assets offshore is another interest that most high risk businesses have. Some might bear to start a new business and are conceivably looking for economical pulls. High risk or low, business holders from thee-commerce industry know how major it’s to have their own merchant account. Without a merchant account you’ll neither be capable of credit card processing nor accept all the various kinds of payments for your services and products.

Some banks and processors won’t accept your applications unless you establish that your business has been running for further than two years. Most want a safeguard deposit and some tend to hold back on to your yearly payments for additional security purposes and viable chargebacks. High risk businesses discover their accounts being shut down as soon as their business starts to rise and they start entering high volume trades.

This is the main reason why merchants now look for merchant account providers who can provide them offshore merchant accounts which will be able to reuse high volume deals. Once you command an offshore merchant account, you’ll no longer have to worry about banks and processors or about your account being shut down as soon as your business starts to grow.

With new technology the world has become a lower place and online shopping has come the ultimate style. Merchants who are suitable to give online payment processing services on their websites get at least 75% more possible guests than those who don’t. An offshore merchant account points you in a favorable virtual world where you get numerous provident advantages.

Offshore banks and processors tend to charge merchants higher processing fees as compared to theU.S rates and there’s some fierce competitors. Merchants find offshore merchant accounts beneficial as the setup is quick and hassle free and you get better services. With a dependable trafficker account provider, getting an offshore merchant account gives you various benefits and there’s no hard and core conditions of having a two time business etc.

With an offshore merchant account you get cost efficient and hassle free solutions along with various economical advantages. Merchants no longer have to select a bank from their own country. An offshore merchant account helps expand your business worldwide and low taxes are one of the most sought after by the merchants. Offshore merchant accounts give you the benefit of offshore credit card processing which will allow you to bear and reuse payment in multiple currencies.

Offshore Merchant Account

Listed benefits of Offshore Merchant Accounts, with Radiant Pay

December 28, 2020 admin

Why are we doing business online?

That is quite clear, to expand globally, but do we need some Merchant account outside our country?

The rise in the use of credit card, debit cards, and other E-wallets have given wings to the online business in and outside our native country. They are the key factors to milk properly if you want to shine with your business.

When we do business in our country that is easy, and ok to manage. But when you have an aspiration to go globally, it’s different.

Because all countries have various norms and jurisdiction of their state, and unknown regulation, much offshore currency is different altogether their taxation policies and many other obstructions for online businesses than trading native.

So all these online companies wishing to go offshore need to have a well set Offshore Merchant account to gain all the profitable and easy to manage banking transactions and services.

What are the Offshore Merchant Accounts?

When you want to make your online business account accept all the transcations even from outside your country. You can hire a third party to open your Merchant Account outside, by any payment solution provider company like the Radiant Pay.

We give an offshore Merchant account that can accept multicurrency formats like Dollar, Euro, or Dinar. When all the types of Cards should be taken, an Offshore Merchant account is a must as we don’t know what type of credit card is being used.

We can proceed by opening our offshore merchant by either an offshore payment processing clearinghouse or by doing it yourself.

Offshore Merchant accounts are highly safe and secure, about the confidential data and Bank details which are given by the offshore customers and result in happy browsing experience, as the hackers and cyber-crimes are always in the hunt.

For better working and smoother management, the former choice of opening an offshore Merchant credit card processing via clearinghouse is always advisable.

Radiant pay emerges as the winner

As Radiant Pay is a Payment gateway solution provider based in London, we are sitting at the hub of the financial world in Europe and the entire globe is in our reach of the banking network. There is a possibility that if you are seeking merchant services outside, you are targeted to get a more charged fee or more transaction fee, but that is never the case with Radiant Pay.

We are a payment service provider based on, minimum charges and high turnover for clients with their online ecommerce businesses.

So next time it’s your wise decision of opening a proper offshore Merchant account to go rocket high with Radiant pay as your payment solution provider.

Offshore Merchant Account

Steady your sales projections with an offshore merchant account

August 19, 2019 admin

Understanding offshore merchant accountÂ

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.Â

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.Â

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.Â Â

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.Â

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.

Types of Merchant Account

Types of Merchant Accounts in payment gateway in London and Europe

July 16, 2019 admin

While setting up an online business, setting up a payment gateway for payment processing services is necessary, or business owner may require opening a new merchant accountâ€”depending upon the various parameters and business requirements. Most high-risk business requires a merchant account to get paid. Customers usually pay through credit cards, PayPal, or other payment options. Through these, the payment arrives in the bank account but does not directly transfer to bank account instantly. Moreover, the payment gateway schedules the fund transfer time between 2-3 business days. The time between the fund transfer to the bank account, it stays with the merchant account.

Every payment processing gateway required merchant account behind the scene, either aggregated or segregated. When payment is transferred through radiant pay aggregated merchant account, the payment gateway takes care of the process. Means the user does not manage it, and the provider can change the policies and rules. Another type of merchant account is Retail merchant account for grocery stores and other local stores. However, radiant pay mostly deals in online merchant account set up for business, which provides the opportunity to buy products in one mouse click.Â

The online payment service provider provides the merchant account for a high-risk business with zero interaction with the credit cardholder. Radiant payâ€™s merchant account for the UK and European company gives the small business, self-professionals, consultants, or contractors access of the merchant account because these people are always on the move and required fee processing on the spot.Â

Radiant Pay analyses the risk associated with the business and suggests the appropriate merchant account for the markets. The high-risk businesses are travel agencies, multi-level marketing companies, credit restoration, casino, dating sites, pharmaceutical companies, any other companies who are willing to take a risk.

Offshore Merchant Account

Offshore Merchant Account for online businesses

July 16, 2019 admin

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.Â

Why do you need an offshore merchant account?

Radiant payâ€™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 Indiaâ€”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.Â

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.

Offshore Merchant Account

WHY DOES OFFSHORE MERCHANT ACCOUNT EXIST

April 8, 2019 admin

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

High Risk Merchant Account, Merchant Account

Myths of Merchant Account Services

August 29, 2017 admin

In the past years, the boom of online marketing has led to many changes in style and rules of our lives. Life has become quite easy for everyone be it a student, a teacher,a doctor,a bank,a businessman or even a housewife. To purchase anything we are just a click away. Similarly , online purchase of products has simplified human life to a great extent. Sellers and buyers no more need a market to start with their communications. Everything is available online. Now if the seller is selling something online they need to accept the payments of the customer through credit cards which is credited on a payment gateway.

Merchant Account Services are the services provided by the sellers to their customers on their credit cards or debit cards. For availing these services, the merchant need to have a merchant account. A merchant account is a type of bank account that allows businesses to make payment through credit cards or debit cards. Merchant account allows the seller to offer their customers a fast, flexible and secure options while making payments. Merchant account holder can be a businessman, an enterprise, a community,restaurants,governments, non profit organisation, a retail store,property management,corporate and small businesses.

When a sale is made on the credit card the customer has as much time they would like to pay off their credit card. To take transactions online,you need what’s called a Payment Gateway. It serves the same purpose as a credit card terminal in a store. Merchant Account Service provide services which are sustainable, socially – responsible and enables businesses to accept credit cards with the companies.

To brief it,Merchant Account Services are handling of electronic payment transactions through credit cards. Merchant processing activities involve obtaining sales information from the merchant, receiving authorisation for the transaction,collecting funds from the bank which issued credit cards and sending payment to the merchant.

Business services

Unrevealing Myths of Banking Offshore

October 24, 2016 admin

When we heard of banking offshore many of us sounds that it is irrelevant and voidable of using such bank account. But the real situation is different only people with merchant banking and international businesses man known the real picture of banking offshore. What people think about banking offshore is not all true here are some myths about offshore Banking that will change your personal and professional overview.

Offshore Bank Account are Illegal? – No banking offshore is fully legal, but in some countries, you need to show the feasible offshore assets report to your home authorities. For eg, if you are Citizen of U.S and have a bank account in Canada you must declare that account. The place and country matter in holding an offshore account. The tax issue occurs because most countries taxed interest income in the country of residence, while this income is taxable in an offshore jurisdiction.

Regulation and Banking Restriction is Poor – since it not implies too many restrictions on Account Holders, given full freedom of confidentiality. Some small jurisdiction is subject to particular laws and regulation on behalf of FATF and other authorities. This may take your business in great loss.

Offshore Bank Account is Fully Anonyms – whenever you open an offshore bank account your Name and bank account detail are not anonymous to the bank. Only your bank knows each and every detail.

The fund is not safe in Offshore bank which has global visibility – It can explore your information and account detail to the parent bank in your home country. But a subsidiary offshore bank is a separate legal entity subject to the different law and jurisdiction. Keeping full confidentially of depositors and clients and not passing any information to the parent banks. In some countries, it is punishable to disclose the information by prison terms.

Fully Tax-Free – Not Fully tax-free, but give some tax benefits to the merchants. In most cases, it’s free of local taxation of the bank’s jurisdiction.

Physical Appearance is Compulsory for Opening Such Account – No Clients doest not have to appear physical in order to open an account. These banks have developed a procedure for opening remote and mobile bank account. Clients need to provide certain extra documents t provide proof of identity.

Needs Heavy Deposits – Not all banks require a heavy deposit, mainly it requires deposits starting with US$100,000 or equivalent. But a significant number of smaller banks are still interested in a regular middle-class customer and their initial deposit requirements may start with US$1,000 or less.

Radiant Pay Official Blog

Tag Archives: offshore merchant account

Unlocking Offshore Success: The Advantages of a Merchant Account with Radiant Pay

Payment Processing for Offshore Merchant Account

What are the necessities for opening an Offshore Merchant Account?

Benefits of Offshore Merchant Account.

Accept High Volume Sales with Offshore Merchant Account

Listed benefits of Offshore Merchant Accounts, with Radiant Pay

What are the Offshore Merchant Accounts?

Radiant pay emerges as the winner

Steady your sales projections with an offshore merchant account

Types of Merchant Accounts in payment gateway in London and Europe

Offshore Merchant Account for online businesses

WHY DOES OFFSHORE MERCHANT ACCOUNT EXIST

Myths of Merchant Account Services

Unrevealing Myths of Banking Offshore

Online Merchant Account Solutions