QuadraPay Offers Offshore Merchant Account From Best Nations

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Offshore Merchant Accounts For Progressive Business Owners. Low Rates. Fast Settlements.

Online business and facilitating eCommerce platforms is main need of every Merchant. Quadrapay is dedicated to help merchants from high risk industries. From offshore merchant account to echeck payment processing we are ready to help. We try to be the best in class service provider and offer reliable services to our clients. If you are a merchant looking for help in your high risk business, reach us on Quadrapay.com. You can also mail us at [email protected] .

Who doesn’t use online platforms and e-commerce to buy or sell things these days? Wouldn’t you like to buy goods or services sitting at the home and making the payments online for the same? Which Merchant doesn’t want to expand its business and profit the business multifold. The high risk industry segment faces a lot of troubles when it comes to online marketing and online businesses. The reason being high risk business is usually avoided by banks and Financial Institutions for an online account. The best solution for high risk Merchant is using an offshore merchant account.

This is completely proven that to establish, grow and expand your business you must incorporate E-Commerce into it. Processing payment online is the need of the hour. Having a merchant account is mandatory for online business, even if you want to start medical transportation business or T-shirt priniting business at home.

Get Approved From Offshore High Risk Merchant Account Providers

A merchant can avail a merchant account in two ways-

One can apply to a domestic Bank or acquirer with appropriate documentation to get a merchant account. The main problem in getting the account is strict and stringent underwriting guidelines. This turns out to be the biggest hurdle for high risk merchants who want to avail online accounts. A merchant should apply with genuine documentation, good credit history and stable financial base. There must be well planned business model, explained turnovers and target clientele. The merchant also has to give description of goods and services to be sold online. There are chances that if the underwriters go with individualistic approach, the merchant can get an account.

This isn’t a Cakewalk as it seems to be. Most of the domestic banks and processors avoid handling high risk merchants. So the ball goes into the court of offshore merchant account providers. Acquires or payment processors based out of merchant’s country are termed as Offshore service providers. Merchants can easily get an online high risk merchant account from the offshore processors. But selecting the right one is no less than crossing a Labyrinth.

The strategic analysis of Quadrapay has evaluated the reasons. Merchants with bad credit and high chargeback history don’t get merchant accounts easily. Businesses with unstable market, fraud and illegal activities are also denied by domestic banks. Offshore merchant account providers do have solutions for these merchants but it comes at some extra cost. Infact you can also get a merchant account with no credit check. The other side of coin is quite lucrative as there are many extra benefits provided by these offshore service providers.

Pros and Cons of an offshore merchant account

The main advantage offshore providers give to their clients is near unlimited processing volume. Talking in the financial terms the monthly maximum limit of an offshore account is much higher. This is no doubt higher in comparison with an average domestic account. This is beneficial for high risk merchants to expand the business. The Other advantage is flexible and approachable underwriting criteria. This makes offshore service providers an easy and attractive option for high risk industry. The underwriting criteria of domestic banks in USA is different from the banks located in other countries. Processors outside United States of America have easy approach for high risk. Offshore processors provide high risk merchant accounts to both domestic and international merchants. For domestic merchants the extra benefit is facility of Echeck and ACH payment options.

Let us discuss about the disadvantages related to offshore merchant accounts. Here most of the transactions are considered cross border transactions. Because services are availed from an offshore payment processor situated in a foreign country. At times these transactions are declined by the card processors and domestic banks suspecting them as frauds. The high decline rates of transactions makes offshore merchant accounts less efficient. These accounts aren’t much trustworthy in USA. Most of the international transactions are declined in credit card processing and the merchant faces loss. The Other negative factor is high charges and fees imposed by offshore merchant account providers on the applicants. There is a difference between domestic banks and offshore ones related to application and transaction fees. The rolling reserve and chargeback fee are also higher with offshore service providers.

How To Get An Offshore Merchant Account?

If you are dealing in a business that has multiple risks associated, getting a merchant account from a domestic bank will be difficult. It’s better to try with Offshore merchant account providers and foreign banks to avail and online account for The E-Commerce platform. There are some service providers which will readily onboard you and provide the required services. The underwriting guidelines of the offshore service providers are lenient and flexible. This allows even the riskiest of the businesses to take online payments.

If you are a high risk Merchant then you must consider some points before you figure out an appropriate offshore service provider for you. Quadrapay can also help you decide the most suitable service provider for your specific business type. From merchant account for tech support or merchant account for credit card processing or any high risk business, we can get you the best deal.

Points To Ponder When Searching An Offshore merchant account provider

While trying to figure out a suitable offshore mistake on provider, consider these points

  1. Always compare the setup fees & transaction fees (which is also termed as TDR and MDR). Also compare fixed transaction fees, monthly fees and other clear or hidden charges. If you try to negotiate you will get a better deal.
  2. Offshore service providers do have provisions of rolling reserve ranging from 5% to 15%. Thus you should always should always try to keep it as minimum as possible. This will directly impact the business profit.
  3. There are also provisions for wire fees as most of the transactions are cross border or International transactions. A merchant should negotiate to set it as low as possible.
  4. One of the best advantages of using Offshore services is chargeback alert and notification service in near real-time. You might get charged extra for the service but Quadrapay experts seriously recommend you to use the facility.
  5. Paying a little extra for the chargeback prevention service will save you from the large chargeback penalty fee. In case of a chargeback insecurity increases on your merchant account.
  6. In case of both goods and services, return and refund policies are always present with some conditions. At the time of onboarding try to keep the return fees at its minimum.
  7. For most of the option merchant accounts the hold period or the area is between 1 and 3 weeks. in other words we can say that the riskier the industry, the longer is hold period. At the time of signing the agreement, try to keep the arrear shorter as possible.
  8. Never forget to take feedback from the existing clients. Moreover at the time of onboarding do ask your service provider about its existing clients from your same industry. Taking personal feedbacks from merchants belonging to your own industry will help you the most. You can find the best offshore merchant account provider using these guidelines.

We at Quadrapay suggest you to be very careful while deciding your offshore account provider. Your online business completely depends on the merchant account and related services. Choosing wisely and negotiating with the service provider is again important. It helps you reduce the cost factor and enhances your profits. If you want to apply for a high risk offshore merchant account, visit www.quadrapay.com and complete the free and easy application procedure. We will help you onboard the best services available in the market.

What Are The Best Countries For Offshore Merchant Accounts

That is are great question and is asked multiple times by our merchants. Well the answer to the same is complicated. Technically in most cases it does not matter much about the location of offshore merchant account provider. What matters are 2 thing and these are listed below.

  1. Where the merchant is registered. The business registration location and nationality of the UBOs play a significant role in acceptance or rejection of any application. In simple terms PSPs can only onboard merchants from the jurisdiction where they are allowed to operate. There are thousands of payment companies including large, small and startups. Every company has its own choices in terms of industry and jurisdiction. So it is not correct to say that one country is best for offshore merchant account. Some merchants may qualify with a GCC based processor. Some may qualify with a Gibraltar based or Malta based company. Honestly it depends on multiple factors. Its complicated but dont worry Quadrapay will help you with a solution. If card processors say no then we have ACH, Ececk, Interac, Sepa and AMPs solutions. We will find the right one for you and we will never invoice you.
  2. Where the PSP/Payfac is allowed to operate. As stated in the above point that Processing companies have there approved jurisdiction. They can not violate the same. If done then it is not a good thing. No one wants to pay massive fines. its better to follow the rules. Lets take an example of EU/EEA based processing companies. They can only onboard merchants that are registered in EU/EEA. However some PSPs/Payfacs are registered for global operation. They may look at each application on a case by case basis.

Questionnaire related to offshore merchant account providers

  1. Why offshore service providers are ready to onboard high risk merchants? The answer is quite evident. Profit is the prime reason that an offshore processor will provide a merchant account for high risk industry. There is always certain level of risk involved when you cater to the requirements of high risk industry merchants. The Offshore processors charge high transaction fees and other charges to ensure their profit. They cover the risk associated with integration of high risk merchant account. For this they earn from rolling reserve, hold period and other charges.
  2. What are the various limits set up by offshore processors on a merchant account? Offshore processors impose the maximum ticket volume and maximum monthly transaction limit. These service processor also impose minimum transaction volumes for their own financial safety. While signing the agreement a merchant gives his consent to maintain the flow of transactions in the account. The rolling reserve is also kept higher in comparison with domestic acquirers to minimise the financial losses. In most of the cases rolling reserve is kept between 10% and 18%. The hold period or arrears is also longer in comparison with US based banks.
  3. What are the different fees and charges applied on a Merchant account by offshore service providers? If we start from the application process, usually there is provision of an application fee or set up charge. Once the application has been submitted, the on-boarding process starts. TDR (Transaction Discount Rate) and MDR (Merchant Discount Rate) are important factors. Monthly & fixed transaction fees, chargeback fees, refund fees etc are also taken into consideration. A merchant must carefully go through the rules, regulations, terms and conditions before signing up. This is important to understand when you work with an offshore service provider. A merchant should negotiate properly to ensure that he pays least of the mentioned fees and charges. Out of these mentioned charges, the most dreaded one is Chargeback penalty. If the customer is not satisfied with good/services, he may report a chargeback. Merchants also have some rights to save themselves from the chargeback penalty. Excessive chargeback can lead to shut down your merchant account. We have also received queries that can someone go to jail for a chargeback? If you abide by law and follow work ethics, no need to worry. It is advised to be careful about hidden charges on a merchant account.
  4. How and where to find an Offshore merchant account provider? The moment you enter the E-Commerce or online market you will find plenty of service providers. They all come with lucrative offers and attractive services. These processes are ready to onboard high risk merchants because they ensure their own profit by charging high fees. The above question should be moulded in a better manner. How and where to find the best suitable Offshore merchant account provider for your specific high risk business type? Quadrapay.com can be one point solution to this question. The expert team of Quadrapay has comprehensively evaluated the best in class service providers. We have figured out processors with the most competitive pricing. We have resolved to help the high risk merchants with our specifically tailored support solutions. Any merchant can easily enroll with us by filling the short and easy application form available online on our website.

The team of Quadrapay.com excels in helping you find best processors and service providers for your high risk merchant account. We provide services globally in USA, UK, Canada, Australia, Europe and Asia. If you are facing any trouble in getting the account, we are ready to help you. You can sign up the application form at www.quadrapay.com or send us a query on [email protected]. You can also call us on our 24*7 helpline +1 6318321773.