FL-based MerchACT has announced the launch of the Offshore FASTLANE Merchant Service. If a business falls into any category that is not considered low risk e-commerce, setting up an offshore merchant account is a must.
For many online companies who operate business models that may be deemed higher risk often find that setting up offshore credit card processing can be a long, frustrating process with unfavorable terms and conditions.
With the new MerchACT service, merchants are able to set up an offshore merchant account in less than half the time and paperwork it normally would take.
Many times, US domestic banks are more conservative when it comes to issuing uncapped merchant accounts for businesses that do not have a flawless credit card rating, experience rapid growth such as MLM companies, or perhaps operate business models that offer a free trial or recurring billing component such as an internet marketing operation.
Whatever the reason is, being able to have a scalable and stable credit card payment solution is the most important part of operating an online business. However, without the right connections and expertize in offshore merchant accounts, the process to establish merchant account processing can be long and possibly fruitless.
According to the company, there are many benefits to having an offshore credit card processor rather than using a domestic company. Some of the most common benefits include: they offer businesses in spaces that domestic credit card processors dislike a way to accept credit card payments; they are both dependable and cost effective; they can often accept payment in multiple currencies; and using an offshore credit card processing company can offer a business significant tax benefits. There are many other positive factors, of course, which vary depending on a business’s individual situation.
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