What are the uses of an offshore merchant account for High Risk Industries?

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What are the uses of an offshore merchant account for High Risk Industries?

An offshore merchant account is an account which is established in a country that is not the home country of the business

Banks are generally conservative in their risk portfolios and usually will not support a range of high risk business types domestically. Prohibitive policies at domestic banks are effectively forcing business owners into establishing offshore merchant accounts.

While offshore banks are still conservative, however, their portfolio permits types of industries that a domestic bank may not. Some of the most common industries that benefit from offshore merchant accounts include, but are not limited to:

  1. Pornographic content (porn)
  2. Digital currency (bitcoin & cryptocurrency)
  3. Pharmaceuticals & Pharmacies
  4. Nutraceuticals
  5. Electronic Cigarettes & Nicotine
  6. Electronic Cash Transfers
  7. Travel related industries
  8. Gambling
  9. Other high risk industries

The bottom line is that an online business owner that sells certain ‘high-risk’ products or services must be able to accept payment via credit card to effectively run their business.The best solution for high risk industries that have trouble securing banking services domestically is to seek out offshore merchant accounts. MNBS Payment Solutions can provide these merchants with exactly what they need. Please contact MNBS Payment Solutions for more information.



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