The e-commerce industry is getting bigger and bigger. When you search around the Internet, you will see a lot of online stores here. These businesses pave the way for shoppers to buy items in a different way. With a few clicks of a button, you can get whatever you want. All you need to do is to wait for the products to arrive.
Apart from that, it gives buyers an opportunity to pay for the items without falling in line. They just need to use their credit cards to their purchase orders.
Credit cards are one of the widely used methods of payment. You just need to swipe the card on the machine, and voila! You made a purchase. However, when it comes to e-commerce business, there’s no device where you can swipe the card. It is where offshore credit card processing comes in handy.
This service gives the best of both worlds for both buyers and business owners. As an online entrepreneur, you don’t need to get a POS machine to accept credit card payments. You just need to hire an offshore credit card processing company to handle electronic payment transactions.
As a buyer, you don’t need to ensure that you’re giving the courier the exact amount. Moreover, you don’t need to wait for the items to arrive before you can pay them. As you shop online, all you need to do is provide your credit card number to purchase the products.
However, not all online credit card processing companies are reliable. In this article, you’ll learn the things you must consider when choosing this service. But first, you need to know what it is, and why you should get it.
What Is an Offshore Credit Card Processing Company?
It is an establishment that handles online payment credit card transactions. They give their services not only to e-commerce businesses, but also to high-risk industries. Its goal is to provide solutions that allow every online business owner to make a payment transaction.
Moreover, it enables online businesses to accept various credit card types. It gives buyers an opportunity to buy items no matter what credit card they’re using. Consequently, business owners get to increase their sales and their profits.
Despite its popularity and the benefits it has to offer, many are still curious on how online credit card processing works. The truth is, the process of traditional payment processing and offshore credit card processing are quite the same. It gets the card information, gives it to the processor, then to the bank and so on. The only difference is the beginning of the process since both methods use different platforms.
Traditional payment processing uses a POS machine where you swipe the card to make a transaction. Conversely, offshore credit card processors use online terminals. These sites ask you to provide your credit card number. Since you’re shopping online, you need to enter those digits to start the payment transaction. Other than that, there’s not much of a difference.
There are many places where you can hire a credit card processing website. However, the most common continents are Central America, Europe, Middle East, and Asia. You can find it in the Carribean Islands, too. Your choice lies in your budget and your decision.
Why Should You Get an Offshore Credit Card Processing Service?
There are several reasons why you should hire an offshore credit card processing service. Firstly, it’s easy to get a merchant account. Almost all credit card processing providers in America use domestic accounts. Meaning, those who are qualified to get their services are those people who reside in the US.
This rule makes it impossible for online retailers to get domestic merchant accounts. If you do, they will find it out soon. Consequently, you will be blocked to all local banks.
Offshore credit card processors are not in the US payment processing competition zone. Hence, they are free from restrictions and rules of domestic accounts. Moreover, online merchant services keep their price down and are available to all online businesses. It doesn’t matter whether or not you are new in the industry. What’s more important to them is their goal, which is to provide reliable and budget-friendly solutions to all online entrepreneurs.
Another advantage is you’re not obliged to pay tax. As mentioned earlier, online payment processing companies are all over the world. If you hire this service, you’ll be free from paying higher taxes.
The ability to accept different currencies is another good advantage. E-commerce businesses deal with local and foreign customers. Since your store is on the Internet, there are more chances of getting international buyers. For this reason, you need to hire a credit card processing company that accepts various currencies.
With the help of online credit card processing machines, you don’t need to convert currencies. For instance, you live in America, but you get a customer from the Philippines. Once the buyer views your online store, it automatically converts the price in the Philippine peso. The shopper uses her credit card to pay for the items she bought. But once the processor deposits the payment to your account, it will be converted into dollars.
Last is information security. Many people think that online payment processing is not safe. Well, you can’t blame them why they think that way. Identity theft and credit card frauds are common in the cyberspace world. Thus, they’d rather choose the COD option whenever they shop online. They feel safer if they pay the items upon receiving them since they don’t need to use their credit cards.
However, as the technology advances, online security improves too. Web-based credit card merchant companies use sophisticated features to keep your buyers’ information safe. So if hackers go to your site, your customers’ details remain safe. With this feature, they can’t get such information no matter how hard they try.
What to Look For in an Offshore Credit Card Processing Company?
There are many payment processing firms that you can choose. Some of them offer offshore credit card processing services. Others provide domestic merchant accounts. Despite their different offers, all of them claim that they are one of the top credit card processing companies.
To help you choose the right service for your online business, here are the things you must consider:
Safety Above All
Processing credit card payment is a crucial factor to the success of one’s business. As an online entrepreneur, you don’t want just anyone handling all your cash transactions. You want to work with someone whom you can trust.
For this reason, you need to make sure that the service provider is reliable. When searching for a dependable online merchant service, you need to talk to professional processors. Ask them about their backgrounds in offshore payment processing.
Moreover, ask them about the features of their services. As a retailer, you want to make your shoppers feel safe whenever they shop online. If the provider doesn’t have the innovations you’re looking for, then it’s best if you find another offshore merchant service.
You can also read some reviews of credit card processing companies. Most reviews will tell you the services that each company offers. It will give you an idea of what you should expect from them.
Client Solutions
As an online merchant, you need to have multiple solutions for processing credit card payments. Thus, you have to look for a provider who can give you multiple accounts with multiple processing banks. These companies will help you avoid situations that will affect your sales.
For example, one of your processing banks drops the category where you belong. Though the processing company stops giving the service that you need, your business can still survive. It’s because you still have other merchant accounts connected to their respective processing firms.
There are service providers who specialize in dealing with high-risk industries, such as online casinos and auctions. These services provide what the merchant needs. They make every transaction quick and easy for gamblers and auctioneers.
There are also online payment processing companies dedicated to providing international merchant accounts to businesses that have credit problems. Their purpose is to help these companies operate, despite financial dilemmas.
Offshore credit card processing businesses are available 24/7. It gives their clients an opportunity to get their help any time of the day. Moreover, they have more experiences in dealing with online payment problems. They give you solutions, which enhance your offshore transactions.
With their services, you don’t have to worry about your payment transactions. You’re guaranteed that every deal you make runs accordingly. Thus, you can focus on the development of your business and the promotion of your brand.
These are the things you need to consider when choosing an offshore merchant service. These factors will help you find top credit card processing companies that provide quality service.
However, if you want to learn more about a particular company, then you should go to CrowdReviews. The site provides reviews of credit card processing companies. With these testimonials, you’ll get to find a company that fits your business needs.
John Tovar
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