Businesses understand no borders. No, any country is a better example than the United States of America. Around 70% of global business has been overwhelmed by American businesses. No case it is APPLE, GOOGLE, or AMAZON all have kept their global existence.
If any merchant has the capability, he can easily access the whole world preferring global payment gateway solutions available. So, acquiring the proper technique with a favorable payment associate can easily grow your business.
Offshore payment gateways are one of the most prevalent solutions perfect for global businesses. High-risk merchants select it from a variety of solutions because it delivers a broader range of business with augmented margins on sales.
High-risk merchants can serve those businesses which have strict rules connected with their specific countries. Also acquiring payment solutions is not effortless and very affordable. So, let us understand some regulations connected with anyone running an online business with the help of a high-risk payment gateway Europe must be aware of:
What does the term Offshore Payment Gateway imply?
Offshore is a term that is broadly used in the finance and banking sector. Knowing offshore is quite simple. It is also known as an account that is beyond the country of the merchant and manages all payment functionalities from around the globe whether it may be depositing or an investment.
Essentially acquirers are from different countries delivering payment gateway platforms. The comfort to merchants may appear in the shape of getting a payment solution with consolidated functional and service costs which might be feasible in the merchant’s nation.
Most countries have increased rules and restrictions for high-risk businesses. So, merchants need to explore offshore payment gateway platforms to run their online business with the account connected with abroad acquiring banks.
What is the difference between the Payment Gateway & Offshore Payment Gateway?
A payment gateway is a web-based mechanism that allows merchants to take funds online without concerning it is receiving or transmitting transactions outside the origin of the payment service provider location.
On the other side, an offshore payment gateway is a payment processing platform in which the origin of the solution is beyond the merchant’s nation. Yet, in both situations, payment processing platforms function in a similar way. It doesn’t matter whether the customer belongs to which nation, it is strong enough to take online payments fast.
How to get an Offshore Payment Gateway for your offshore business?
Having an offshore payment gateway platform can be tricky. Yet, payment Processor has their own set of regulations for providing services to high-risk businesses.
An expert business will be needed to receive payment gateway platforms from acquiring banks. Specifically, in the situation of high-risk factors. Banks hesitate in offering payment processing services to high-risk merchants effortlessly. Moreover, they want to stay away from the strict regulations of high-risk businesses.
There are numerous documents required with complete authentication to approve an offshore payment gateway platform. Merchants’ lack of poor financial stability, excessive chargeback volume, and multiple fraudulent activities are directly rejected for global payment gateway solutions.
Submitting the application form with the required details and valid documents in the right format can enable you to get approved for payment solutions. Delivering a comprehensive letter comprising your strength, experience, and good credit history can persuade your payment gateway provider. So, these are the following documents essential for acquiring payment gateway platforms:
- Functional website URL
- SSL certificate
- Business incorporation certificate
- Valid identity proof with owner’s Photo
- Bank Statement (3 months)
- Certificate of bank stability
- Chargebacks and refund details
Acquiring a payment processing platform can be tough but not with us. We also ensure global high-risk merchants of the quickest approval in the industry. Contact us to comprehend more.
Primary Benefits of an Offshore Payment Gateway
There are multiple advantages to acquiring an Offshore Payment Gateway
Support multi-currency transactions
With this feature in a payment gateway, the customer can pay online for services or products in their desired currency.
Decreased payment services costs
With an offshore payment gateway platform, you will not have to face high payment processing costs and no hidden charges. However, several payment processing and functional costs are ignored with global exchange and tax prices.
Expanded profits
Acquiring benefits from decreased business costs lead to enhanced profits. So, getting numerous payment processing solutions facilitates increased sales and hence expanded profits.
Security Features
The payment service provider has multiple strict security standards to protect the merchant’s business and payments from fraudulent activities and chargebacks.
Designed for high-volume payment processing
An Offshore payment gateway is ideal to handle high-volume payment processing and also without delay. It also delivers real-time reporting.
How to find the right global payment processing platform for your high-risk business?
Finding a secure and reliable payment solution provider is a complicated task. Think, if it is tough to find in your country then how is it feasible to get a reliable payment partner overseas? So, WebPays will be the right choice for you. We also have a wider network with numerous acquiring banks globally and provide merchants with dedicated payment processing services.
Consider these factors when preferring a payment service provider
Prefer an experienced payment processor
You must prefer a payment solution provider with great expertise in serving global high-risk businesses. So, that they completely know all the issues that often appear with such businesses. Also, the payment solutions with them are adequate.
- No hidden or additional charges
Don’t go for payment platforms that charge hidden and extra prices from high-risk businesses for their payment processing services.
- Be transparent and reliable
The payment gateway provider you opt for must be genuine and offers transparency in the pricing structure, policies, rules, and regulations.
- Inspect prior customer reviews
Customer reviews play a vital role to make you understand the reputation of any payment processor. So, that you can evade services with poor reputations.
- Analyze their service quality
Quality of the service is the primary factor to inspect before preferring a payment service provider. Top-level quality services must be preferred over slow and costly payment solutions.
Conclusion
An offshore payment gateway is an amazing solution for global merchants. If you are unable to get the right payment processing platform for your high-risk business and looking for affordable prices, then WebPays is the right option for your business. So, taking payments from global customers with good margins is a wonderful experience that you can easily get with an offshore payment gateway platform. Contact us now or you can drop us a mail with your business’s structure and requirements. Our sales team will contact you as soon as possible with the most suitable suggestion for your high-risk business.
