Enabling credit and debit card processing is a must in today's e-commerce world. Customers expect convenience and speed.
The majority of payment processors provide a variety of solutions and services to assist merchants in meeting this demand, including different types of merchant accounts, such as offshore merchant accounts.
What is the definition of Offshore Payment Processing?
E-commerce stores can accept credit and debit card payments from major credit card companies such as Visa and Mastercard, as well as other credit card providers, thanks to an offshore payment gateway. These services allow businesses to process transactions from any location in the world and in any currency.
Having an offshore merchant website can present a number of challenges, one of which is maintaining an active online merchant account.
Offshore merchant accounts are difficult to obtain because domestic banks are hesitant to open an account for a vendor who is not physically present in the same country. Another factor that prevents banks from opening an account for an offline merchant is a currency conversion.
High-Risk Offshore Payment Gateways security
E-commerce companies must be extremely cautious when it comes to protecting their customers' personal information. In addition to the standard two-factor authentication method, they can use the following solutions:
TLS (SSL) certificates -
the Transport Layer Security protocol (previously Secure Sockets Layer) allows symmetric key encryption of transmitted data. The simplest way to tell if a website is using it is if it has HTTPS in its URL.
Payment Card Industry Data Security Standard -
PCI DSS Compliance provides secure payment solutions by establishing a number of requirements and guidelines, such as verified software, a firewall, transmission encryption, and so on.
Tokenization-
Tokenization is the process of concealing a credit card number by issuing a temporary code or token.
Secure Electronic Transaction -
An older protocol is still used to create SSL and other security certificates. By preventing access to any sensitive information, SET helps to maintain the integrity of data transmissions.
What to look for choosing the best offshore payment gateway?
Choosing a simple payment gateway is dependent on a few key factors, including your business type, customers, and other internal and external factors.
Cost
Because all services charge a fee for using their tools, the cost is determined by your total revenue. Per transaction, per month, and gateway installation or account setup are the most common payment types. Some companies charge extra for refunds and chargebacks. The fee percentage could range between 2% and 4%. Consider some of the pricing options, such as PayPal, Stripe, or Authorize.net.
Limits
Check for the maximum and minimum transaction amounts that a provider can handle and make your decision based on the size of your business and the price of items. For example, if a company is not selling houses or other large and expensive items, an average maximum capacity is sufficient.
Options for payment
Even though credit cards remain the most popular payment method, PayPal, Union Pay, and mobile payments such as Google Pay, Samsung Pay, and Apple Pay are so widely used that it would be foolish to ignore them. The same is true for foreign currency support.
EmerchantPro can help you get the offshore payment gateway high risk?
In the case of a high-risk business, the problem of maintaining a smoothly running account multiplies. But with EmerchantPro, you get an e-commerce experience that is flawless in every way.
As the best and most experienced high-risk merchant account providers, we ensure that your account runs smoothly. With us, you can be confident that your offshore high-risk merchant account will function properly for all major credit cards.
Whatever your business's domain or volume, EmerchantPro can be the best option as a high-risk merchant service provider. Chargebacks are common in high-risk businesses, but we make certain that your offshore merchant account does not slow down your company's growth in any way. We expedite the approval of your merchant account and ensure that it remains operational without incident.
You know you're dealing with the best when you get quick payouts and low-interest rates. You no longer have to lose good clients because of a faulty payment service. We handle everything, so you can focus on your online business, whatever it is.
Our experts work on the specific demands of various models to provide each business with its own specialized solution model.