Get the Offshore Merchant Account with Instant Approval
Now a day’s doing business is not limited to a particular area. The modernization had lead to the rapid growth online for the selling of products and services. Companies willing to expand their business have got a lot of opportunities over worldwide countries through internet technology.
Doing business offshore surely improves the chances of growth. The merchants can plunge huge profits offering their services outside the country in which they operate.
Offshore Payment Gateway lets you do business beyond boundaries. It enables merchants to receive payment for their service. This payment service helps High-Risk Merchants to process international transactions.
Attaining an Offshore Payment Service might be a tough task but later this can simply boom the sales like anything. This is because your audience has now expanded from a limited area to the entire world.
Offshore Payment Gateways
In the finance and banking industry, the term “offshore” is frequently used. It means setting up a foreign-based account for transactions either for receiving or sending money using Credit and Debits Cards or any other digital means.
This lets you perform financial transactions over your targeted sales or business area and hence receive payments in your own currency.
When the business offices of merchants are located differently from the country in business they require Offshore Payment Gateways.
Working of Offshore Payment Gateways
For an online business, there is always a Website or Application in which the merchants offer their service or sale. Customers who wish to avail such services often pay to merchants via the Payments option given on the website.
They enter their payment detail from cards or any other digital method. These consumer details are escalated by payment gateways to the payment processor linked to the merchant account of business merchants.
While processing the two banks, that of customers and the Acquirers cross-examines the customer detail and then the amount is deducted and sent to the merchant’s account.
Benefits of having Offshore Payment Gateway
Now let us talk about offshore payment gateway and the benefits it can provide to specialized industries especially High-Risk Industries.
Quick Processing and Response Timing: Offshore payment gateways are a speedy means of transactions as it can process at no time.
Multicurrency Processing: It enables the real time conversion of currencies into merchant’s currency.
Simultaneous Processing of Transactions: For a platform like gambling, casino, etc. which requires instant processing of thousands of transactions simultaneously can easily work with offshore payment gateways.
Security: Integrated with PCI-DSS encryption, it creates an environment that prevents merchants from online frauds and chargeback.
Reduces several operational and processing costs: Having such payment gateway has several benefits as it cut down various operational and processing costs. This increases margin of merchants.
Ability to pay local vendors and workers: As the Acquirers are from your business area it becomes easier to pay local vendors and workers. Because there is no requirement of currency conversion and they are paid in the local or native currency.
Similarly, there are other benefits that help merchants decide whether going with the offshore merchant account is a good option or not as this saves a lot of money by skipping various interchange and operational charges.
There may be several reasons why many merchants prefer doing business offshore or opt. Offshore Merchant Account.
Merchants are well aware of the needs or requirements of the specifically targeted countries of the world. So they transform this requirement into their business opportunity.
Many high-risk online services are banned in certain countries. This can be one of the reasons why merchants do offshore business and wish to have an offshore payment gateway for transactions.
Looking into future opportunities merchants may plan to expand the business to different parts of the world.
Online Casino Payment Gateway for offshore casino business
High-Risk Business like Online Casino and Gambling usually has great traffic with huge customer numbers. So it becomes essential to have a payment gateway that specifically understands the nature of the business of a Casino.
The transaction may come in bulk. Online casino payment gateway is well equipped to cater such bulk transactions within short span of time and that too without any technical glitch.
Conclusion
As technology is advancing, the need for merchants has altered. Payment Gateways are the basic requirement for any business online.
Highrisk Gateways has been providing its merchants with payment gateways that are business-centric and well programmed to meet their needs. They carry a high capacity of simultaneous transactions and also support currency conversion from almost every country.
Merchants can get connected to us in order to avail themselves of the best for your business.