Some merchants believe it is safer to open a domestic merchant account with a bank they have been working with for several years. Although it is good to have that solid foundation with your acquirer, domestic merchant accounts can limit your business’s growth. If you are looking to expand your online business, what other options do you have?
By working with a global payment processor, you will increase your payment options and help your online business succeed. Below are three additional benefits of global merchant account processing.
Global Merchant Account Processing for High Risk Merchants
Getting a global merchant account through an offshore acquiring bank has a wide range of benefits. Offshore banks have fewer trading restrictions, which makes it easier for high risk merchants to get a merchant account. Many of these merchant acquiring banks are located in a tax haven, which means you will get a tax-free merchant account. Your acquiring bank’s jurisdiction will protect the money in your account.