What Makes a Good Offshore High-Risk Merchant Account Company?

Friday, March 18th, 2022

It is a difficult process to get a high-risk merchant account established. You need to make sure your provider is trustworthy, can offer you the best service, and can help you grow your business. It is also imperative that they are able to look after your accounts on a long-term basis.

There are many attributes that you should be aware of when looking for a high-risk merchant account provider. These include:

1. A good reputation

When it comes to offshore merchant accounts, you need to make sure your provider has a good reputation in the industry. They should have years of experience in providing payment solutions to high-risk merchants and must be able to meet all the challenges associated with it.

They should have excellent knowledge of the industry and understand how it works. The more they know about the industry, the more they will be able to help you grow your business.

      2. Varied cost structure

Not all businesses are alike and hence not all need the same payment processing solutions. The right offshore merchant account providers will offer different options so that you can choose one according to your needs and budget. They should be able to provide you with custom plans that suit your requirements best. Make sure their pricing is transparent and there are no hidden costs or fees involved.

      3.  An experienced sales team

Before you sign up for an offshore high-risk merchant account, make sure the salesperson is familiar with high-risk businesses. Otherwise, they may not know enough about how credit card processors view high-risk accounts or how to mitigate risk for those accounts. And if they’re less than honest about what your business can expect from their services or how much their fees will be (or if they don’t disclose them upfront), it’s a bad sign.

       4.  A multitude of payment processing options

Offshore merchant account providers have the flexibility of offering multiple payment methods through varied acquiring banks. It is possible to accept payments using credit cards as well as alternative modes such as eWallets, Bitcoin, net banking, etc.

       5. The ability to process transactions in different currencies

The best offshore merchant account providers are capable of processing transactions made in a variety of currencies including the local ones that are commonly used by your target audience. This ensures that your international customers can make purchases effortlessly without having to worry about currency exchange rates and other such requirements.