What Are the Advantages of an International Merchant Account?
The selection of a domestic or international merchant account is dependent on one factor: location of your clientele. If your client market is local then it is advisable that you opt for a domestic merchant account. A local account will have lower transaction costs and set up will be cheaper.
However, if your clientéle is global and, or you have a business termed as “high risk” then you need to opt for an international merchant account.
The advantages of an international merchant account include:
- More relaxed merchant account application policies and processing conditions
- Offshore banks have fewer rules and regulations for merchant acquiring activities
- Merchants are able to conduct banking globally
- International merchant accounts come with Instabill’s cost effective payment gateway
- Corporate licensing is usually not needed by a webmaster to establish an international merchant account. Which is why setting up such accounts are generally economical and on average cost under $ 800
- Instabill’s international merchant accounts are installed with our top of the line fraud detection tools
However, before incorporating your company in your chosen jurisdiction you must make sure you have complete information on:
- legislation governing your business type
- banks that facilitate your business transaction processes
- political stability
- reliability of infrastructure
- quality of professionals
- Trustworthiness of financial infrastructure.
All these facets must be kept in mind when making the decision of opening an international merchant account.