5 Things Anyone Working in Offshore Payment Gateway Should Know

1. 5ThingsAnyoneWorkinginOffshorePaymentGateway ShouldKnow Businessknowsnoboundaries.NoothercountryisabetterexamplethantheUnitedStatesof America.Approximately70%ofthe world’sbusinesshasbeendominatedbyAmericancompanies. NomatteritisAPPLE, GOOGLE,orAMAZONallhave markedtheirinternationalpresence. If any merchant has the competence he can easily get through the entire world with the global paymentsolutionsavailable.Havingtherightstrategyalongwithapromisingpaymentpartnercan simplyflourish your business. Offshorepaymentgatewaysareoneofthemostpreferredservicesoptedforworldwideservice. High-Risk merchants prefer it over other because it serves them a wider scope of business with increasedmargins on sales. High-Riskmerchantscanservicethosebusinesseswhichhavesevererulesassociatedwithintheir countries. Also getting payment services is not easier and very expensive. Let us learn some laws associatedwith anyoneworking in offshorepayment gatewayshouldknow. 1–UnderstandingtheOffshorePaymentGateway Theterm offshore is widelyusedin thefinanceandbanking industry.Understanding Offshore is easy. It simply refers to an account that is outside the country of the merchant and handles all paymentoperationsfrom overseaswhetherit maybe depositingoran investment.

2. Importantly acquirers are from other countries offering payment services. The convenience to merchantsmaycomeintheformofgettingapaymentservicewithreducedoperationalandservice feeswhich may not be possiblein the merchant’scountry. • Inseveralcountries,therearerestrictionstocertainhigh-riskbusinessessomerchantslookforthe • offshorepaymentgatewaytodotheirbusinessfromtheaccountassociatedwithBanksor Acquirersabroad. • –UnderstandingthedifferencebetweenthePaymentGateway&OffshorePayment Gateway • Paymentgatewayisaweb-basedtechnologythatenablespaymenttransfernomatterswhetheritis receivingortransferringpaymentsirrelevanttothesourceofpaymentserviceproviderlocation. • Whereasanoffshorepaymentgatewayisapaymenttechnologyinwhichthesourceofserviceis outside the merchant’s country. However, in both cases, payment gateways work in a similar manner. No matter the customer is from which country it is powerful enough to quickly accept payments. • –GettingaOffshorePaymentGatewayforyourself • Gettinganoffshorepaymentservicecanbetricky.EveryAcquirerhasgottheirownset ofrules andregulations for issuingservices to High-RiskMerchants. • Awell-experiencedchannelwillberequiredtogetpaymentservicesfromAcquirersespeciallyinthe case of High-Risk Merchants. Banks don’t give payment services to high-risk businesses that easily. • Alonglistofdocumentswaitswiththoroughauthenticationtopassforpaymentservices.Merchants fallingshortoffinancialstabilityandhugechargebacksandfraudsaresimplydeniedforservice. • Getting the application prepared well and documents in the right order can get you payment services. Creating a cover letter containing your strength, experience, and good bank reserve can convinceyourpaymentserviceprovider.Thelistofdocumentsrequiredforgettingpaymentservices are • Livewebsite • SSLcertificate • Businessformationpaper • TaxIDofenterprise • PhotowithownersID

3. BankStatement(3months) Certificateofbankstability Chargebacksandrefundinformation. Gettingapaymentserviceis difficult butnotwithus.Weassureourmerchantsofthe fastest approvalin the market.Contact us to knowmore. 4–Pros&ConsofOffshorePaymentGateway ThereareseveralbenefitsofOffshorePaymentGateway Supportmulticurrencypaymenttransactions:Withthisoptioninapayment gateway,the customercan seeand buyservices orproducts intheir preferredcurrency. ReducedBusinessExpenses:Havingan offshorepaymentservicecomeswithan advantage. Various processing and operational fees are skipped along with foreign exchangeand tax chargesare saved. Increaseinprofits:Gettingbenefitsofreducedbusinessexpensesresultsinincreased benefits.Havingmultiple offshore paymentservicesencourageslargersalesandthus increasedprofits. SecurityMeasures:Providertakesstringentmeasurestosafeguardmerchant’s account andtransactions from chargebacksand frauds. EquippedforHighvolumesimultaneoustransactions:Offshorepaymentgatewayis designed to manage high volume transactions that too without any lag and real-time reporting. Easytointegrate:IntegrationwithanAPIispossibletoinstantlystarttheservicewithease. Simpletopaylocalvendorsandworkers:Havingfullcontroloverthecurrencyofvarious partsoftheworld itiseasier topaylocal retailersandworkersin theirnativecurrency.

4. The only drawback with offshore payment services is that you have to spend a lot to reach your acquirer.Ifyourpaymentserviceproviderdoesn’trespond toyourrequestthenitwillcostyou high toreach them. Butthisisnotinthecaseofreliablepaymentserviceproviderslikeuswhoarehavingvery responsivecustomer supportto instantly solvethe merchant’s problems. 5–Associatingwiththeright,PaymentServiceProviderespeciallyforyou Getting the right payment service provider is a hard-hitting job. If it is hard to get within our country then how is it possible to find reliable Acquirers abroad? Well, the answer is to get in touch with us. WithourbroadernetworkworldwidethereisanumberofpossibleAcquirerseagerto offer payment servicesto merchants. Lookforthetriedandtested:Alwaysassociatewiththepaymentserviceproviderthathas good experience in dealing with High-Risk merchants. This will sort various issues that frequentlyarisewith suchmerchants. Eventhe serviceswith themaregood. Savemoneybyavoidingadditionalfees:AvoidServiceProvidersthatintentionallycharge highfrom high-risk merchants fortheir service. Beforthrightandtruthful:Thepaymentserviceprovidershouldbegenuineand transparentinterms ofpolicies, charges,rules andregulations. Examine any previous client testimonial: Client reviews serves as the best method to knowtheservicereputationofanypaymentserviceprovider.Simplyavoidcompanieswith badreputations. Take a look at what they have to offer: Service quality is the prime check for association withanypaymentserviceprovider.Top-notchservicesshouldalwaysbepreferredover slow andexpensive services. Select the terms that are both short and flexible: Service associations should not bind anymerchantswithalong-termperiod.Goodpaymentserviceprovidersalwayshaveshort andflexible plans for alliance.

5. Conclusion: OffshorePaymentGatewayisawonderfulsolutionforglobalbusiness.Ifyouarenotabletofinda rightserviceprovider inyourcountry andwant togetrid ofvariousheavy operationaland interchangechargesthenthiscanbethebestsolutionforHigh-RiskBusiness.Acceptingpayments from worldwide customers with good margins is a remarkable feeling which is easily possible with offshorepayment gateway. Getintouchwithustogetmostadvancedoffshorepaymentgateway.