International Merchant Services With Quadrapay
The world is becoming smaller with the availability of the internet. The need of international merchant services is also growing. Businesses are finding it easy to perform trade with with people in different parts of the world. South African companies are selling products in Canada or London. Indian Exporters sell handicraft items to buyers in the United States of America. Business owners need reliable international merchant services to make this happen.
Sell Better With International Merchant Services
International merchant services includes different type of payment modes. The modes help International businesses to perform business activities with comfort. In this article, we’ll talk about how to find the best international merchant accounts. We will be touching upon some vital elements.
Domestic Account For International Merchant Services
In a domestic relationship the acquirer and the merchant are from same nation. Many local acquiring banks also offer international merchant services. Sometimes domestic acquirers do not offer high approval ratio. There are many reasons for the same.
- One reason can be for the cardholders may be from a different nation.
- The acquirer may not have required licenses to accept cards from specific nations.
- Acquirer may not be comfortable in accepting card transactions from specific card issuers..
Offshore Accounts For International Merchant Services.
Many offshore merchant account providers offer International merchant services as well. These providers provide multi-currency solutions. With multi-currency processing, Business owners can accept transactions in different currencies. For example, USD, CAD, AUD, INR, CNY, JPY, Euro, etc. The profit increases with local currency processing. The reason behind the increase of transaction is the comfort of the customer. Many offshore credit card processors offer global acquiring with international merchant services. These processors on-board merchants from over 100 countries.
KYC For International Merchant Services
The requirements for merchants services in each country may be different. The KYC documents needed from a US merchant can be different from the UK based merchant. Still, most of the times processors ask for the generic set of KYC documents. These processors also offer low rate of transactions to low-risk merchants. High-risk merchants may have to pay a higher transaction fee. These merchants should only apply to high risk card processing companies. When you apply for International Merchant Services, you must look at a couple of factors. The most important factor is the high approval ratio. You should work with the processor that offers a very high approval ratio. That means the processor should not decline a vast number of transactions. Merchant must get the opportunity to accept different card brands. If you only work with 4 to 5 different brands and do not take transactions of other card brands. Your company may miss a lot of sales. You should also ask the processor for the integration help. Most of the International service providers offer free integration help. Email us if you need help with international merchant services. You can email us at [email protected]