The Excellence Of Online International Merchant Account
Excelling the potential of your business always helps the business to grow and expand. Any business who wants to achieve excellence should cross the limit of the nation and start cross border business. Most eCommerce businesses who provide their services to different countries require an International Merchant Account. It helps to process payment in different currencies like USD, GBP, Euro, CAD, AUD and more. With an International Online Merchant Account, your customer from different nations has the convenience to pay you in their own local currency. And the payments from the foreign currency are then converted into the currency selected by the merchant and settled into the merchant’s bank account.
Many times eCommerce companies or other businesses who want to make their presence in other countries face challenges to find an international merchant account. Unfortunately, without an international merchant account, a merchant faces challenges to expand their reach to other countries. We at Quadrapay build a strong presence in international markets like Canada, USA, European Union, Asian market and more to help merchants with an international online merchant account.
Payment Gateway For International Online Merchant Account
A payment gateway is an online payment service that is provided to merchants by the payment processors. No matter whether you are taking an international online merchant account or domestic merchant services, a payment gateway is vital to authorize the transactions. A payment gateway is not a holding account that holds your payments, but an authorization service that helps to transact multi-currency. A payment gateway is a software service for an eCommerce platform that integrates with your site or shopping cart to help you accept credit/debit cards payments. It is the payment gateway who authorizes the transaction and helps in accepting the foreign currency.
A payment gateway works as an interface between your customer and payment processor or acquiring bank.
What Are The Features A Merchant Enjoys With International Merchant Account
- Multi-currency: With multi-currency gateways, you are opening doors for most of the countries. Your business can accept payments from various parts of the world. You can accept American Dollar (USD), Canadian Dollar (CAD), Euro ( Eur), Australian Dollar (AUD), British Pound (GBP), Singapore Dollar (SGD) and even a lot more.
- Monthly Maximum Limit: With an international merchant account, merchants have the advantage of maximum monthly transaction limit.
- Expand Market Place: No doubt, if you are opening doors for multiple nations, you are expanding your market place. By attracting your customers from different parts of the world, you are making a robust presence of your business.
- Payment Gateway: The payment gateway is PCI compliant and follows PCI-DSS standards. The robust, secure and reliable gateway not only helps merchants with international credit card processing but helps to keep all the transactions secure from online fraud.
- Integrate Easily With Shopping Carts: The shopping cart is not always the same for every business. Different businesses using different technology stack for their business. But don’t worry, our payment gateway integrates with all major shopping carts services such as WordPress, Woocommerce, Magento, PrestaShop, 3dcart, Opencart and many more.
- Local Currency Payout: No matter whichever currencies you are accepting, our robust payment solution helps merchants to accept payments in their local currency. Even they have the option to accept payments in a particular currency they want.
- Virtual Terminal: A virtual terminal is an additional service which is obviously free and comes with your international merchant account. But you need to apply for a virtual terminal to make use of it. The virtual terminal solution is very beneficial for a business who takes orders via phone call or mail.
- Chargeback Alerts And Notification: This is also the additional merchant service which helps the merchant to reduce their chargeback ratio. The service may cost you a little extra, but paying little fees for it could help you a lot, and we recommend merchants to avail the service to improve their sales.
- Affordable Rates With Zero Upfront Charges: We offer affordable payment solutions with industry standards rates. There are no upfront charges; we focus on transparency.
Prominent customer Service: This is the most vital for every business, so we provide you with 24×7 customer support.
Offshore Payment Processor For International Merchant Account
A merchant can get an international merchant account with a domestic acquiring-bank or even offshore payment processor. It is crucial to select the right payment processor for your international merchant account, either domestic or offshore. Sometimes, the processors may close or shut down your international merchant services without even prior notice. They also may hold your funds, and you may face trouble to clear all outstanding. So, choosing the right payment processor is most crucial for your business. Though you may get an international merchant account from your domestic banks, it is always recommended to have an offshore payment processor. However, this is not always true but depends on the risk-factor of your businesses and other factors.
Quadrapay knows which solution would be better for the merchants and helps them to choose the right and appropriate merchant service. If you are also in a dilemma about how to choose the right one, get in touch with us.
Quadrapay Offers Businesses With Various Merchant Account
- Low-Risk Merchant Account
- Offshore Merchant Account
- High-risk Merchant Account
- International Merchant Account and other merchant services.
F.A.Q Related To International Merchant Account
What Is An International Merchant Account?
International merchant accounts work the same as other merchant accounts, but with international, your business has the empowerment to accept payments globally. A merchant account is simply a type of bank account which is used to receive credit/debit cards payments from your customer. But it’s just a temporary holding of all your funds you receive from your customer. The business owner has no direct access to the merchant account, and all the funds in it will be processed and transferred to the merchant’s businesses bank account usually after a holding period of 1-3 days. This is called the settlement frequency. Every processor has different settlement time, maybe T+1, T+2, or T+3 days. Always ask your processor about the settlement time, and it is recommended to choose a processor with a less holding period.
Why Businesses Require International Online Merchant Account
The need for an international merchants account is to expand your market place. Every business wants to do international business to earn profitability. To accept foreign currency, a merchant needs an international merchant account.
How Does A merchant Get An International Merchant Account
Getting an international merchant account is not troublesome. All you a merchant needs to do is to approach the right processor. Choose the right processor, Quadrapay is here for you to help. We have partnered with several processors from the USA, Canada, EU and other countries and forward your application to the right processor based on your needs. You only have to fill the pre-approval form to get started. We will get back to you to talk over more your business requirements, and you will really enjoy the onboarding process. Our solutions are safe, secure and PCI-Compliant that secures your business from online fraud.
What Are The Fees Associated With High-risk International Merchant Account Payment Gateway
We have very affordable rates and charges. If you are getting a domestic solution, the charges are lower and an easy application process. You may even start to accept money from your customers in less than 24 hrs if all your documents are legal and you have an excellent processing history. There are cases when you may be charged little higher by the processor if you are opting offshore merchant services. Offshore processors generally charge because of the risk associated with your business. You may also be required to deposit a rolling reserve maybe 5-15%, but it is standard, and processors ask you for this to mitigate the risk involved in your business. But always take help from experts like us to choose an offshore solution.
The failure of any business is the failure to adapt, the one who adapts is successful. Adapt to an International Online Merchant Account with quadrapay to cross your business limit. Apply Today!
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Suggested Reading
https://www.business.com/articles/international-business-law-101-5-international-business-and-trade-law-gotchas/
