Merchant account– a way to increase your business profit
September 3, 2015
Electronic commerce (or short, e-commerce) is a type of specific industry used for providing selling and buying of different products or other particular services by the means of electronic tools and devices. Mostly, in e-commerce different information systems, like The Internet and other numerous computer networks are used. Nowadays, people mostly shop on the Internet, in other words, on-line. Therefore, no one needs to go to the market for buying some food. Instead, people order food online, and the supermarkets deliver the food at home. These days, almost every shop has its delivery service. No one needs to underestimate the popularity and importance of on-line shopping, as it is the most convenient way of shopping. Thanks to on-line shopping, we can get any product or service, which is missing on our local markets and in shops. Besides, it helps all the lazy people to get what they want even without leaving a house. Therefore, as you may guess, merchant account is crucial, if you have your own trading business. Nevertheless, you can always advise your buyers to pay via bank wire transfer; still this kind of paying is surely not convenient for them. Banks always add charges and it takes a lot of time. A merchant account is a great option if you want to increase your profit and improve your client support.
What merchant account is?
A merchant account is a convenient and popular type of a bank account. It can let you get payments by numerous payment cards, mostly debit and credit. The further information about using offshore accounts can be very useful for offshore entities.
First, using offshore merchant accounts is no bigger risky than the other ones. Dealing with banks, which offer merchant accounts, is in fact even more lenient, as they offer their accounts to numerous different businesses. This is the main advantage of using offshore merchant accounts. The only business profiles, which may be ranked as high-risk, include adult services, pharmaceuticals and online gambling. Besides, providers of on-shore merchant accounts use the same ranking. Why do they act the same? It is all because of the fact the mentioned businesses have native high-risk of chargebacks. Meanwhile, chargeback is a return of funds to a consumer, who uses it for settling a debt, initiated by the issuing bank. If to shorten the explanation, it is a disagreement of a card payment. The cardholders usually apply for chargebacks in the cases of fraud, when the card or its details were stolen, or in the case of goods’ non-delivery.
Once again, off shore merchant accounts are quite more expensive than common onshore merchant accounts. Therefore, you can eventually pay double or more for each transaction. In the case you have an on-the-go trading company, which was registered with us, and you have a desire to think through merchant account option, we welcome you to contact us for any details you need to know. Be aware that Belize, Seychelles and British Virgin Islands are the most influential and authoritative offshore jurisdictions, as same as the most popular ones, and there is a significant number of firms with company registration there. Consequently, there will be no problems for you in getting your own merchant account, in case you want to apply for our services. We hope this information will be very useful for you and your business!