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.