What are the uses of an offshore merchant account for general e-commerce, retail, or card not present business?
Offshore merchant accounts can benefit all types of industries. Both high and low risk, and general e-commerce businesses as well stand to gain from offshore merchant accounts
Some industries that can benefit from retail offshore merchant accounts include, but are not limited to:
- Retail merchant accounts
- Toys and games merchant accounts
- Jewelry merchant accounts
- Handicrafts merchant accounts
- Music industry merchant accounts
- Consulting merchant accounts
- Online business merchant accounts
- Card not present merchant accounts
- Call centers
Both Domestic and offshore banks alike consider many of these businesses to be low risk merchants.
Why would a low risk, card not present, business want to go offshore as opposed to staying domestically?
Offshore merchant accounts also provide advantages to low risk, card not present, merchant accounts. These include, but are not limited to:
- Tax Benefits
- International Reach
Each country’s banks have their own laws and regulations regarding offshore banking. Retail or online businesses that have customers or clients in countries around the world can benefit from opening an offshore merchant account. Please contact MNBS Payment Solutions to discuss additional benefits and how they can help your online business.