What are the Benefits of Setting Up an IBC?

An International Business Corporation (more commonly known as “IBC”), as the name implies, is a company that you form at an offshore jurisdiction under the chosen jurisdiction’s laws. With your new offshore company’s formation, you can break the restrictive chains of onshore bureaucracy and benefit from a host of lenient tax norms.

But that’s not all there is to IBC. Let’s take a look at some other benefits of setting up your business overseas:

Offshore banking: You can have offshore bank accounts in the name of your IBC in complete privacy under tax-free jurisdictions such as Panama. The good part is that due to the privacy and confidentiality law, no one but you can get a whiff of the existence of the bank accounts.

Asset protection: You can use an IBC to shield your assets from litigations (malpractice suits as well as product liability) against you or your business.

Property: Using an IBC, you can buy and keep real estate, precious metals, and shares of any offshore company.

Retirement benefits: Using an IBC, you can protect your assets for retirement. All you have to do is pass your assets into an IBC so that no tax is applicable.

Loans: You can take out a loan from your offshore company to finance your onshore company.

Investments: With an IBC, you can invest in international markets, bonds, and commodities. You can also do stock trades using your IBC brokerage account.

Intellectual property: You can now protect your intellectual property through an IBC due to a reduction in reporting and regulatory compliance.

Well, there you have it! These were some of the benefits that come with offshore IBC formations.

If you are interested in taking your business offshore and get the business flexibility you always dreamed of, get in touch with Liberty Enterprises, Inc. today. In as little as two days, they can help you take advantage of some of the most incredible offshore jurisdictions and enjoy complete confidentiality in your corporate affairs.

How To Start Your Sports Betting Business & Make A Killing?

 

Running your sportsbook is an alluring prospect. Statistics mention that it’s a market worth over $3 million. More than $150 billion is wagered in the United States alone. So here’s a quick overview of the possibilities you can profit from and make a killing.

Your Options

You may have the following options if you’d want to run a sports betting operation:

·        Open land-based sportsbook

·        Become a bookie

·        Open online sportsbook in a licensed market

·        Use Price Per Head services

·        Launch online sportsbook in offshore markets

The land-based betting option is legal, gets you more customers, and is reputable. But it confines your business area, attracts no online bets, and requires tons of background work.

Becoming an (illegal) bookie demands smaller startup costs, needs less management and can recruit customers with even word of mouth. However, it’s illegal, you cannot collect losses, plus it’s a felony in a lot of countries.

Having an online sportsbook merchant account comes with a lot of room for growth, is licensed, and has mainstream advertising options. You may think it’s expensive to get yourself onto the online platform, but partnering with the right service provider may help you significantly.

Opening an offshore sportsbook entails slight licensing requirements, serves several states, and avoids multiple regulations. You may ideally have to deal with prosecution or being in a gray area in several countries. Again, these challenges can be averted when you contract with a qualified service provider who also arranges transactional facilities such as high-risk credit card processing.

Price Per Head operations is an easy way to start offshore on a smaller scale. But you can’t customize all the aspects of your processes.

Making Big Profits

Whatever options you choose, these tips may further come in handy:

·        Gain financial and management know-how

·        Get going with your social media marketing techniques

·        Gain financial and management know-how

·        Consider line shading for extra profits

·        Offer reduced vigorish and get more business

·        With a PPH business, retain tighter groups

·        Balance action on both sides

·        Set bet limitations

·        Use loyalty benefits to maintain the user-base

·        Hire legal representatives to ward off any mistakes

Takeaway

There’s no clear path to get started in sportsbook – a lot of work goes behind making it big. Also, it’s no get-rich-quick plan. If you have a passion for the industry and the business, you have stronger chances to get to the top.

The Why and How of Setting Up an IBC

 

Offshore companies, also known as International Business Corporations (“IBCs”), are growing increasingly popular among individuals and businesses alike.

But why?       

One of the primary reasons behind the growing popularity of IBCs is tax savings. The populace from high tax countries (e.g., the U.S.) often consider offshore IBC formations in tax-friendly jurisdictions (e.g., Panama) to reduce their tax liabilities.

Other reasons include:

●      An offshore business formation offers legal asset protection by making your assets more confidential and private.

●      Offshore jurisdiction imposes much lesser fees than onshore jurisdictions.

●      It is possible to establish an offshore company without disclosing the information of the nominee manager or director. This ensures maximum confidentiality and anonymity of business corporations and affairs.

Establishing an offshore presence for your business can be a very beneficial prospect, to say the least. However, there are a few details that you need to consider before taking your business overseas:

●      Firstly, you need to select an offshore jurisdiction that allows you to legally conduct business operations. Research the local laws and regulations of the offshore jurisdiction you are considering carefully. For example, many offshore jurisdictions will not allow online casinos to operate without a gaming license, whereas some do not have this requirement.

●      Next, the privacy and confidentiality of the jurisdiction need to be taken into account. Does the jurisdiction allow bearer shares and nominee directors? Does the jurisdiction have any treaties with other countries to share information?

●      Once your company has been established, an offshore bank account must be set-up. The bank must be fully insured, have had a background check, and offer a high level of service with Internet, telephone and fax banking.

●      Reliable offshore merchant processing must also be put in place, allowing you to accept payments from your customers by credit card and settle to the privacy of your offshore IBC company bank account.

These are just a few of the many aspects you will need to consider in regards to your quest for a stable offshore banking solution.

Is offshore banking illegal?

Although offshore banks are often treated with suspicion, they are perfectly legal. They are simply bank accounts set up in any country that is not your country of citizenship. They are not too different from a domestic bank account.

Using offshore banking to avoid paying taxes you legally owe or for illegal activities? That is, of course, illegal, but not because offshore banking sits in some gray area of the law. An offshore account is just a tool, and these two things are illegal anyway. Think of it this way: breaking a car window using a screwdriver is illegal. But that does not make the screwdriver illegal, does it? It is the same with offshore banks. They are tools that, like anything else, can be used for both good and bad.

So, if offshore bank accounts are more or less the same as domestic bank accounts, why would someone go through the trouble of setting one up?

Great question! The answer lies in the many benefits an offshore bank account can provide.

For one, it offers enhanced account privacy. You must declare your income in your country, but that does not mean that everyone needs to know where it came from. As long as you earned that income legally, it is nobody’s business to know exactly how you earned it… right? Of course, you will have to reveal your income sources during an audit, but as long as you are doing nothing illegal, that is nothing to be worried about.

Secondly, offshore bank accounts protect your assets from lawsuits. This is a big one! In today’s society, where there is always that lingering threat of being sued and losing everything, an offshore bank account can help you protect what you have worked so hard to build.

Lastly, offshore bank accounts are an excellent option for businesses that require a high-risk credit card processing account or need to accept payments in the local currency. 

Not only is offshore banking legal, it often makes more sense than domestic banking! However, before you consider setting up an offshore bank account, ensure you learn everything about the jurisdiction you are opening the account in.

Multi-Currency Payment Gateway for High-Risk Business

The world is becoming a massive marketplace. People are buying and selling across borders, and the platform is quite vast. This is the reason why business owners are providing multi-currency payment gateway to their customers. If your business collects payments in foreign currencies, this blog is for you.

Multi-currency processing features are especially a necessity for when you are into the gaming industry, and participants from all over the globe initiate multiple transactions. Other sections where such services may be useful are for e-commerce websites. It is an appreciable solution and the easiest way to increase your international sales and services.

A multi-currency high-risk merchant account allows you to display the currency same as the location of your potential or existing customers – if not exactly, then at least the money they would be most familiar with.

When customers find a local currency or the one, they understand, they feel more connected and put more trust in your business. It also keeps the customers focused on the transaction rather than feeling confused. Multi-currency processing benefits you for administrative, marketing, and commercial reasons.

Besides, such processing allows you to stay on the competitive edge and grow your services more than those who do not have such provisions. It is especially valuable if you operate an online sportsbook merchant account – multi-currency payment gateways are convenient, quick, and safe, inviting more profits.

So if you are operating in a high-risk business industry like gaming, financial services, real estate, and more, you might want to acquire a multi-currency payment gateway for your business.

Consider approaching a reliable and reputed service provider to know more about the options available to you and the associated terms and conditions. When you contract with a genuine service provider, they know how to deter any limitations and make sure the entire process is hassle-free, cost-effective, and secure. But ascertain you address the strengths of the solution, the rates you get, technical considerations, and integrated considerations. So, it must be reiterated that, to some extent, the success of your business may be determined by the choices you make early on during the setup process.

All in all, adding a multi-currency payment gateway for your business transactions is a relatively easy and practical solution. However, choosing the right payment processor renders the most benefit with any foreign currency transactions that you process.

Is Your Online Pharmacy a “High-Risk” Business?

Businesses that fall under the umbrella term “high-risk merchants” will always be treated with a degree of caution by the banks and other financial institutions. The primary risk factors which are taken into account tend to be the potential of fraudulent transactions and chargebacks. To minimize these risks, most verified banks may refuse merchant applications to high-risk businesses.

Are pharmacies considered high risk?

If you own a brick and mortar pharmacy, you are not a high-risk merchant. This means that you can source a merchant account pretty easily. On the other hand, if you own an online pharmacy, you are running a high-risk business. Therefore, you will find yourself in a tough spot when acquiring a pharmacy merchant account.

Online pharmacies have experienced a surge in popularity over the last decade (and especially following the COVID-19 pandemic) as they provide a convenient solution for patients to order their medicines from the comforts of their homes. However, because they operate online, they are also fraught with risks. The risk lies in the fact that there is no security that the customers are dealing with legitimate, licensed pharmacies. Hence, the quality of the products obtained is always a concern for the customer. This also means that the chargeback ratio in such websites is considerably higher.

Because of these factors, you will not get much support from banks when it comes to your online pharmacy credit card processing application. And in 2020, if you don’t have a viable credit card processing solution, you will see yourself out of business quickly.

Fortunately, you don’t have to jump through hoops when setting up your pharmacy merchant account anymore. Today, there are many high-risk merchant account providers that provide offshore merchant solutions for online pharmacies. If you can convince these providers that you are a legitimate online pharmacy merchant selling no controlled drugs, setting up an online pharmacy credit card processing account is very easy.

If you own a legal and ethical online pharmacy, you can now run your business hassle-free with the help of a high-risk merchant account provider. Contact Liberty Enterprises to secure your offshore pharmacy merchant account today.

QUICK GUIDE ON ONLINE POKER MERCHANT ACCOUNT SERVICES

If you’re setting a poker or any other gaming website, you must be aware of the risks of running such businesses online. Poker websites need high-risk merchant accounts to process the payments. It involves an enormous cash flow, and the participants being from all over the world influxes multiple currencies.

But keeping the challenges aside, online poker offers limitless business opportunities, an expandable market, and massive profits. You must, however, be careful when choosing a suitable payment processing solution. So, here’s a quick checklist to ensure you’re hiring the right online poker merchant account provider:

Economical rates

Since the transactions may be in a considerable volume, a lower per-transaction fee would be beneficial. So look for services that offer free set up and smaller rolling reserves.

Secure gateway

Services that facilitate a safe and secure transaction is a must factor to look for. The gateway must be compliant with the necessary security standards for authenticated payment processing via debit/ credit cards.

Multi-currency capabilities

As the participants are spread all over the world, multi-currency inflow is apparent. Most processors allow daily, weekly, and monthly settlements. So you must choose a provider who gives you the freedom to select the frequency for fund settlement.

Anti-fraud protection

Poker is a high-risk business, and fraudsters trying to chip off funds are ubiquitous. Processors who may be capable of protecting your account against data theft, as well as chargeback scams, make an apt choice.

Multi-platform integration

It must be easy for you to integrate solutions across multiple platforms to escalate transactional fluidity and create a glitch-free environment for all users. So when looking to set your high-risk merchant account, make sure you hire a provider who allows easy and quick setup and faster approval of payment processing facilities.

Uninterrupted customer support

An efficient solution accompanied by equally consistent customer support ensures you don’t face any problems in operating your account. A 24x7 service helps you troubleshoot any major or minor troubles, process error-free transactions, and smoothly manage the account.

Takeaway

Acquiring a credible merchant account for your high-risk business may be challenging. Experts thus suggest that merchants must set up an offshore company account as these have fewer trading restrictions. Besides the points mentioned above, other comprehensive facilities are offered when you choose a provider who fits your needs. We hope this blog helps you make the right decision!

What You Need to Know About Bitcoin Trading

Considering that there are 4.6 billion active internet users (or about 60 percent of the global population), the need for a global, secure mode of payment has become a no brainer.

This is where cryptocurrencies such as bitcoin come in.

Are you thinking about investing in bitcoin or trading crypto?

Well, you need to understand that crypto investment opportunities are not exactly straightforward. The lack of knowledge and lots of conflicting information on the internet don’t help. In this blog, we will take a look at the basics of Bitcoin trading, so you have a better idea of what you are stepping into.

Why Trade Bitcoin?

There are currently a little over 18 million bitcoins in existence. However, the maximum and total amount of bitcoins that can ever exist is 21 million. Naturally, the coins will become rarer as the more people continue to mine. Being available only in limited quantities means that bitcoin is highly valuable. One bitcoin equals over $13,500 today!

What’s more, bitcoin comes with lower falling risk as its global circulation does not get affected by government policies. In other words, even if there is a collapse of the regular currency or hyperinflation, bitcoin won’t lose its value.

Bitcoin Trading Account

Investing in bitcoin is a relatively new venture that can be pretty risky. Hackers and scammers are prevalent on the internet, looking to get valuable information and cryptocurrencies from unsuspecting people. One way to secure your trading is by setting up a crypto trading account. Setting up a trading account takes no longer than 12 hours and can be done with minimal KYC.

Having access to a crypto OTC trading platform means that your funds are safe and that you will be able to move a large amount of money with little interference… and all of this without having to go through the lengthy and time-consuming due diligence process imposed by most international trading firms.

Are you interested in trading large amounts of bitcoins?

Visit https://www.confidentialbanking.com/ to find out more about Liberty Enterprises’ bitcoin trading services and contact them to start buying and selling in a safe and secure environment. In addition to bitcoin trading accounts, Liberty Enterprises also offers high-risk merchant services, offshore IBC company formation services, and Panama residency services to businesses worldwide.

How do online sportsbook merchant accounts work?

Online sports betting and gaming industries have exploded over the past few years. The niche is ever-increasing; however, the betting landscape is overly complicated due to various legal restrictions. The industry reputation and higher chargeback ratio makes such businesses labeled as high-risk.

Both startups, as well as established businesses, have a tough time finding a reliable bank and payment processors to accept and process the payments. Such companies have specific obligations that are better accommodated by offshore merchants. Not only would you require a high-risk payment processor, but a merchant account that’s low-cost, easy-to-work-with, and specialized in commencing your high-risk business.

So to open an online sportsbook merchant account, choose a trustworthy payment service provider. 

Fill out the necessary applications, gather important documents, and prepare your website for a major policy check. 

The payment processor reviews all of your payment history, application, licenses, passport, etc., before finalizing the decision. Even if the previous payment history isn’t available, the processor would anyway put together all your documents. The package of these documents will help establish that you’ll substantially grow your business upon getting your merchant account’s approval.

Next, you must select the preferred mode of payment for your customers, including local and international ones. You must also ensure that your chosen payment service provider (PSP):

-       Integrates with most of the biggest betting platforms

-       Provides integrated fraudulent and chargeback prevention tools

Finally, you need to wait for the PSP to process your application and set up the online merchant account. People find a lot of value in such merchant accounts to hedge their bets.

Due to the nature of such high-risk businesses, not many processors accept and process the accounts and their transactions. In fact, coded sportsbook businesses have more offshore solutions to operate in the industry. Ones with low chargeback and high volumes operate at competitive rates. But if you’re a startup business, you might have to face higher rates with steep setup fees. Once your business starts running and produces larger volumes, the processor would move your account to lower fees.

Individual businesses also demand a particular gateway or API for payment processing services. The banks and processors work to ensure all of your service requests are satisfied. This makes it vital for you to partner with a reliable and competent account representative who can help you set up an offshore company or a high-risk merchant account with absolute ease and no uncertainty.

What You Need to Know About Merchant Account for Online Pharmacies

 

Perhaps one of the biggest difficulties of being a merchant in the e-Pharma (online pharmaceutical) industry is accepting credit card payments from customers. It is not that your customers do not want to pay you, but the number of banks and other financial institutions willing to provide you with the capabilities to accept credit cards is very limited. Most of these also have extremely high rates, which means that your profits are significantly diminished.

So what is the problem with merchant accounts for online pharmacies?

The online pharmaceutical industry carries with it a track record of high risk in terms of chargebacks, and too many chargebacks are not good for both the merchant and the merchant services provider. As a result, most merchant services providers are not prepared to take on the extra risk that pharmacy merchant accounts entail. Even providers who accept pharmacy merchants compensate for the risk by charging a much higher transaction and discount fee.

As a merchant in the high risk “online pharmacy” industry, your number one priority is to find a high-risk merchant accounts service provider who can offer you the most secure and reliable services at the best prices. Emphasis on “secure” and “reliable” because if your merchant service provider is not adequately prepared for high-risk merchant solutions, that could spell BIG problems. The last thing you want is to have your money frozen or lost!

Are you an online pharmacy merchant in need of a high-risk, high volume merchant account? In order to get a safe, secure, stable and cost-effective payment processing solution, consider working with a reputed merchant account services provider like Liberty Enterprises, Inc. With direct relationships with a wide array of offshore merchant banks, they are able to offer some of the highest quality services with the lowest pricing in the industry. Visit https://www.confidentialbanking.com/ to learn more.

 

 

 

 

How to Set Up an Offshore Bank Account?

An offshore bank account is simply a bank account set up outside the country of residence of the account holder. Most individuals or companies set up an offshore bank account to capitalize on the liberal tax laws of some jurisdictions. But there is more to offshore banking than just that.

Offshore bank accounts also offer the following benefits:

-        Economic and financial stability of the chosen jurisdiction

-        Safe and secure banking enabling anonymity

-        Flexibility in terms of access to funds globally

-        Enhanced legal and political conditions

-        Improved asset protection

Essentially, an offshore account provides the means for wealth to be protected, preserved and ultimately increased, as favorable conditions are often offered by offshore banks. These factors have contributed to the increasing number of investors opting to set up an offshore bank account established under their newly incorporated International Business Corporation (IBC)

Process of Opening an Offshore Bank Account

Step 1. When deciding to open an offshore bank account, the first step is to determine which jurisdiction favors the investor the most.

Step 2. Locate a suitable banking institution in your chosen jurisdiction that offers the best interest rate and services to your specific requirements. This will enable you to determine the regulations the bank must comply with, how they open accounts, and whether you need to travel overseas and set up an offshore company to open the account.

Step 3. Choose from the three main types of offshore bank accounts: personal, corporate and investment.

Step 4. Supply the required documentation. Generally, an offshore bank will require certain documentation, including a proof of identity, proof of address, while corporate and investment accounts may have additional requirements such as business plans or minimum amount of investment.

As you can see, opening an offshore account is relatively simple and similar to that of your standard local bank account.

So what are you waiting for? Visit https://www.confidentialbanking.com/offshore-bank-accounts.html and set up your offshore bank account easily.

Why is Panama the Best Choice for Your Offshore Operations?

 Apart from liberalized taxation norms and regulations, other key aspects that determine the utility of a jurisdiction in terms of providing offshore banking services include reliability, security, confidentiality and flexibility. If you are looking for a jurisdiction based on these criteria, Panama should be an ideal choice.

Offshore banking can be explained as the process of opening a bank account and conducting banking operations in any country other than the one where an individual resides. In recent years, offshore banking has gained tremendous importance, primarily with investors wanting to diversify their investment portfolios and corporate businesses looking out for overseas opportunities.

In this regard, Panama is being considered one of the leading offshore financial centers in the world. In fact, there has been an increased demand for offshore IBC formations in Panama with individuals who desire to keep their money safe while watching it grow without being affected by any tax burdens.

Once considered as a country that provides little co-operation to investors by employing strict legal restrictions, Panama has now evolved into one of those few countries equipped with inarguably the most successful and modern banking industry in the entire Latin America.

Banks in Panama are highly regarded as stable, well established and tightly monitored. With assets monitored under some of the world’s best privacy laws, offshore banking in Panama provides customers the required assurance with respect to asset protection and maintaining confidentiality.

Also, Panama does not have any mutual legal assistance treaties or agreements with any nation. As a result, banks and their employees in Panama are not authorized to share or divulge confidential and private information of the account holder.

Apart from security, another advantage of going for offshore banking services in Panama is that offshore companies do not need to report or pay any local taxes on the money generated outside Panama. Only income earned in the territory of Panama is subject to Panama income tax.

With so many advantages, the offshore industry in Panama is definitely worth a look.

Finding the perfect payment processor for your online poker business

If you own an online poker website, one of the most effective ways to boost your revenue is by accepting credit cards. This single act has the potential to incrementally increase profits right from day one. And while you may not "see" the additional profits on a daily basis, just take some time to compare your monthly statements with months where you were not processing credit cards, and you may see some positive trends developing…

But first things first: you need to find a merchant account that serves your specific “high risk” needs. Here are some tips that will come in handy:

• It is important to choose a high-risk merchant provider that has a lot of experience in this market. Experience speaks volumes in any high-risk industry and having that edge and knowledge may just save your company significant chargebacks or fines from the card schemes.
• Reputation is a major indication of reliability - try to establish your potential account providers’ credibility by asking around your colleagues and peers. Financial status or business history can be a good indication if accessible.
• An understanding of exactly how they intend to process your online poker merchant account is imperative. From applicant acceptance through to transaction reporting, you need to be assured that the service provider is efficient and follows procedure to an exact art. This is all vital to managing this versatile business.
• Of course, rates are an important factor as well. High-risk merchant providers price their rates around a certain mark when assessing high-risk business which is significantly higher than your average normal to low-risk business. If an initial instinct tells you a rate is too high then it probably is.
• Each high-risk merchant service provider has a different fee structure, which generally includes the set-up fees, the discount fee, transaction fees, statement fees, and so on. It may be tempting to choose a processor with the lowest fees however this does not ensure that you are picking the best. It is recommended that you compare the terms, rates, and offerings by requesting a sample contract to give yourself that extra negotiating power.
• Make sure that you consult the terms & conditions within the prospective merchant provider's agreement about the length of their term, the termination fees (if any), and whether or not the discount rate is fixed, as some are "introductory". (The discount rate is a percentage charged on each transaction, and ranges from 1% - 10+%, depending on the type of service).

Once you have found and researched the perfect high-risk merchant service provider that works for you, processing credit cards may be the best decision you will ever make with regard to the development of your online poker business. Visit https://www.confidentialbanking.com/ to learn more about the details of getting a small business merchant account - and then set the ball rolling.

Grow Your Sport Betting Business with a High-Risk Merchant Account

Unless you’re running sports betting business purely as a leisure pursuit, you’d 100% want to collect money off your patrons. How do you do this? By acquiring a merchant account, of course. All your hard work into building your business will be a great waste if your sports betting website isn’t outfitted to accept major credit cards. 

What’s the problem?

Processing for other online businesses is a big responsibility. As such, every merchant is subjected to the most rigorous standards set by a financial institution — whether banks or other alternative channels — to be approved for a merchant account.

One crucial thing you need to understand, though, is that sports betting businesses are considered high-risk because of their high volume of sales and greater potential for chargebacks, refunds, and fraud. This means that while merchant account providers can be tough on regular online merchants, expect them to deal with you with an iron fist. This could mean many things, such as more paperwork to present, higher fees, longer approval time, or even outright denial of the application.

If you keep all of these in mind when looking for a “high-risk” online sportsbook merchant account, you should be able to get through the process much easier.

Be proactive.

As you go through your list of potential high-risk merchant account service providers, you should also start preparing a second list. This one should detail what each payment processor asks of you. If you find that some of the requirements are common across all service providers, write them down. Then, start putting together a package with all the things they require. This would lessen your work of compiling each and every document every time you submit an application form.

In terms of paperwork, different high-risk merchant account providers require different things. In any case, you should be prepared to provide:

• Scanned completed and signed merchant application
• Passport copies of all owners
• Company incorporation papers
• Licenses or legal opinion if required
• Some cases a business plan
• Current utility bill for each owner
• Current 5 months of credit card processing history, very important!
• Bank statements

Do you want to accept online transactions and safely acquire credit card payments on your online sports betting website? Liberty Enterprises can assist you in the setup of your offshore merchant account in as little time as possible and with favorable payment terms. Visit https://www.confidentialbanking.com/ to learn more.

What to expect from a high-risk merchant account provider?

Businesses that don’t have permanent locations and conduct most of their customer interactions over the phone, on the internet, or by mail order are usually considered “high-risk”. A hallmark of such businesses is that they operate at a high credit rate and turnover, making the risk for chargebacks, credit card fraud, and financial failure exit more likely. The majority of banks aren’t willing to work with a business that comes with a lot of baggage, so they shy away from offering credit card services to high-risk businesses. Even if a high-risk business is able to find a bank willing to provide them with credit card processing services, they will be charged higher rates and other undesirable terms.

In this day and age, any business would likely fail without the viability of a credit card processing solution. Therefore, a higher-risk merchant needs to look for a payment processor that works specifically with high-risk businesses. These processors can provide businesses with a reputable, secure, and fair high-risk merchant account, allowing their customers the ability to pay for products and services with credit cards without being face to face with the seller.

WHAT TO EXPECT?

A business needs to know what services are generally offered with merchant accounts. While each high-risk merchant services provider is different, a business can usually expect the following services associated with its merchant account:

• A thorough analysis of the type of product or service the business offers, the method of delivery, and the expected methods of payment.
• Review of previous chargebacks and relationship with last credit card processors.
• Periodic review of risk status and fee structure.
• Criminal background check.
• Training in what types of documents, invoices, receipts, and tracking information to keep.
• Offering a variety of payment options, such as standard credit cards and debit cards. A good processor will also provide high-risk echeck processing services, to allow customers to pay via electronic checks.
• Training in how to read and record credit card information.
• Direct deposit of credit card proceeds into the business bank account.

There are many merchant account providers offering payment processing solutions to high-risk businesses. The account service provider must be very familiar with the structure, products, or services offered by its business customer. The fees and services should be customized to fit the business and enhance its productivity to make it a win-win situation for both the business and its customers.

10 Tips to Protect Your High-Risk Payment Processing Account

 Payment processing is vital to the success of any company today, especially businesses classified as high-risk merchants. This blog gives ten tips on how to protect your payment processing accounts.

1. Monitor your monthly processing volumes. If you're going to significantly exceed the approved processing limits, call the acquiring bank or your payment processor and let them know the reason.
2. If you expect a tremendous growth spurt, consider getting additional high-risk merchant processing accounts/ mids. Many companies that process substantial volumes of payments have more than one high-risk merchant account or several mids to diversify and safeguard the continuity of business operations.
3. If you're changing merchant account providers, ramp processing volumes down slowly from your existing account. If you suddenly close your account, the acquiring bank will get nervous and may decide to freeze your funds or hold your reserves.
4. If you have average tickets that are going to increase to higher than normal levels, call the bank and let them know why. Banks hate surprises. As long as you let the bank know the reason for any sudden changes, there will be no surprises, and your payment processing can continue smoothly.
5. Put your customer service number next to your company name on the billing descriptor. When customers view their credit card statements, you want customers to call you first with any questions, not the card issuing bank. Making it easy for your customers to contact you to request a refund or cancel an order will keep your chargebacks low.
6. Provide superb customer service. Responsive customer service prevents chargebacks and builds customer loyalty. Everyone wants to be treated well, and you'd be surprised at how excellent customer service can rescue orders that otherwise would have been lost.
7. Make it easy for your customers to return items if not satisfied. Particularly if you sell a lower ticket item, issuing a refund is easier and much less expensive than fighting a chargeback.
8. Stay on top of your high-risk merchant account by reviewing reports and reconciling statements. It's amazing the number of merchants who never look at their statements and then wonder what went wrong when they lose access to their offshore merchant processing.
9. Implement fraud protection such as 3Dsecure. The internet is awash with criminals who are constantly seeking vulnerabilities in websites to exploit. Don't give criminals the opportunity to attack you. Implement superior fraud protection, keep it up-to-date, and stay safe.
10. Keep your bank informed of any changes in your way of doing business. Consider your merchant bank a vital part of your team. Payment processing is indispensable for your long-term business success, and your bank is a partner.

Payment processing is the vital lifeblood of your business, so plan to do everything possible to protect your business and yourself. You'll discover the time and effort to implement the above suggestions will be well-spent.

 

Finding the Best Processing Rates for Credit Cards on Merchant Accounts

Would you rather spend money on accepting credit cards via a superb merchant account, or would you prefer to save money by signing up with another excellent merchant account with the same features? Unless you have an eccentric streak in you, we are sure your choice is the account that charges less for the same features. Any other sensible person, too, would agree with this selection.

Sadly, the merchant industry doesn’t make it that simple for you to compare X with Y. Whether you need a low volume merchant account or a “high risk” online pharmacy merchant account, an abundance of different fees, charges, and billing structures will complicate matters for you when you compare various service providers.

Why don’t we look at the different methods to compare and select the perfect merchant account for your business?

Before we begin, you should keep in mind that acquiring and managing a high-risk credit card processing account will almost always be a little more expensive than standard merchant accounts.

Researching all the pros and cons of the fee structures charged by potential partners has its benefits, and you would be in a good position if you know these. Several providers do not disclose their policies and conditions until you sign up with them, and you may need to request a copy of their rules and guidelines. Once you do that, you are in a position to understand exactly how much you will be paying for the services of a merchant account. Whatever be the case, you must ensure that you fully understand the conditions involved before you sign up with any company.

Having cleared out the basics, you can look for the best credit card processing services with different providers. There are plenty of options, and several different kinds of price structures and incentives for setting yourself up with a merchant account. Each plan has a unique feature; you just have to figure out which one suits your business needs the best.

If are out to get the best possible deal for processing rates for credit card transactions, you have to do quite a bit of research. Comprehensive research for the best possible terms and conditions will benefit you greatly - provided you make sure that the company you are signing up with has good reputability. You surely do not want to be stuck with companies that lack customer service, because it is your money that is in question here.

 

 

High Risk Merchant Processing Solutions - Watch Your Online Business Grow

Customers love the flexibility and convenience of using credit/debit cards to pay for a product or service online. Therefore, if you are involved in any form of trading over the internet, you must have a merchant account to make processing card payments on your site or app easier. However, if your online business has a large volume turnover and is greatly exposed to chargebacks or fraudulent threats, it may be considered "high risk."

Operating a business that is categorized as high risk implies that most of the banks and payment processors will be unwilling to deal with you (though even if they do agree to grant you a merchant account, you can expect their fees to be prohibitively expensive.)

So what to do?

Well, there are many merchant account providers that specialize in helping high risk businesses get a merchant account for their payment processing needs. Whether you need an online poker merchant account for your Texas Hold'Em gaming site or your online pharmacy, a high risk merchant account provider can help you get a processing solution to enable credit card transactions for your online business.

Selecting the right service provider

• Ask around and choose a provider with a well-established reputation in the field and who is well spoken of for the range and quality of services offered.
• Choose someone who caters to your specific needs. For instance, depending on the nature of your business, you may require multi-currency or 24/7 support.
• Insist on a breakdown of the fees and do not sign up unless you are convinced about the fee structure.

Taking into account the 'n' number of factors when it comes to choosing the right high risk merchant service provider, merchants must conduct thorough online research to find the perfect service provider who can meet all of their payment processing requirements.

 

 

 

How To Process Card Payments As An Online Poker Merchant?

An online poker cardroom called “PokerStars” recently hosted its 14th Sunday Million tournament that attracted 93,016 entries and generated a prize pool of over $18.6 million! There is no denying it; online poker is an exciting card game that attracts millions of people worldwide, making it one of the most lucrative industries around.

Do you wish to capitalize on the booming online gaming industry and get into the online poker business?

If yes, you should know that finding a reliable payment processing solution for your business is not going to be easy as the online gaming industry is considered “high risk” by financial institutions. High volume turnover, higher potential for chargebacks, and higher potential for money laundering - these are just a few reasons why most banks and other financial providers see this kind of business set up as a risk too high.

So, what are your options?

If you are finding it hard to acquire an online poker merchant account, high-risk merchant account providers are the way to go.

Reputed high-risk merchant account providers, such as Liberty Enterprises, can help you meet your online poker business’s needs. They can connect you with offshore banks with fewer trading restrictions, so you can begin processing payments and bets on your poker website as soon as possible! Furthermore, the application process is easy and can be completed in as little as 48 hours, providing payment processing in a pinch.

That’s not all. With a high-risk online poker merchant account, you also get a lot of additional benefits such as fraud protection, chargeback mitigation tools, 24/7 customer service and ability to accept payments in the world’s most traded currencies, such as US dollars, Great British pounds, euros, Japanese yen, Swiss francs, and more.

Final Notes

With the right high-risk merchant account service provider, you can set up credit card processing for your “high risk” online poker website quickly, easily, and affordably.

What You Need To Know About Offshore Company Formations

There is more than one reason why one should open an offshore company. From saving money on taxation to operational ease, owning an offshore company opens the gateway to many such benefits. Being easy and quick, offshore company formation has become quite common nowadays. With the availability of service providing agencies, one does not require facing the usual hassles of incorporating a company overseas.

Benefits

It cannot be denied that the chance of enjoying tax reduction or tax negation remains the strongest force behind offshore IBC formations. As a rule, any businessman who invests offshore by opening a bank account or incorporating a company gets some tax reduction benefits. If the company is established in a low or no-tax jurisdiction, it will save the person a substantial amount.

Apart from reduction (in some cases negation) in taxation, the convenience of operating a company overseas encourages many people to go for offshore company formation. In an offshore company, there are generally fewer operating restrictions, and limited accounting and auditing requirements.
The standard to be maintained by the business and the employees, including the directors, is also less restrictive in an offshore company. Among the other important benefits of offshore company formation, there is a better scope for asset protection and personal privacy protection. While the former helps keep the company assets away from probable litigious action, the latter gives scope to maintain a high level of privacy by not exposing personal information.

Choose Your Jurisdiction Carefully

Do you want to set up an offshore company? Well then, you should know that while several countries have become popular destinations for offshore company formation, not all of them offer the security and services that you need to operate your company successfully. The jurisdiction you choose should offer great tax advantages and protect the assets and confidentiality of its offshore companies to create a unique environment that supports ethical business operations. Therefore, it is best for you to work with a consultant who can help you determine which country is best for you before you start the offshore company formation process.

What Does An Offshore Merchant Account Offers?

Since e-commerce businesses are becoming more competitive with time, business owners find offshore merchant accounts beneficial. This is mainly because there is no hassle to open an offshore merchant account. The usual requirements of having a business that has existed for a minimum of two years and making a security deposit of several thousands of dollars are not needed when an offshore merchant account is created. The only difference between an offshore merchant account and a simple merchant account is mainly the bank location, which for an offshore merchant account mostly resides in a different country.

Benefits of an offshore merchant account

• Offshore merchant accounts tend to have a cost-effective and hassle-free setup, merchants get better service, and there are practically no deposit requirements.
• Business owners are no longer bound to select a bank in one country only. With offshore bank accounts, they become capable of expanding their business worldwide. And with low taxes, it provides an economic advantage to merchants.
• It enables offshore credit card processing, and merchants can accept payments in multiple currencies.
• Offshore merchant accounts tend to place the business owner in a favorable e-commerce world. And as the bank does not exist in the same location as that of the merchant, it helps the business decrease taxes.

Some offshore banks and credit card processors do charge slightly higher processing fees and discount rates, however, when the merchant realizes the tax savings they are incurring by processing offshore, they discover they are far better off than if they had remained processing onshore. High-risk businesses, in particular, like online casinos, pharmacy and travel merchants prefer using an offshore high-risk merchant account as most domestic banks (US) decline these business categories, owing to their high volume sales, potential chargeback, and refunds, etc. Offshore banks tend to be more liberal with their underwriting policies, tax savings, and no sales volume restrictions.

Credit Card Processing: Finding The Right Partner

Though e-commerce has been around for some time now, website owners still face difficulties in getting merchant accounts from banks and financial institutions because of the risk of credit card fraud. Fortunately, some internet merchant service providers are more than willing to support e-commerce businesses. These companies have a good understanding of the complexities involved in online merchants; whether they are low or high risk.

Type Of Merchant Account

There are two types of merchant accounts. The first one is where a business partners with a bank or other financial institution. The business applies for a merchant account; the bank verifies the credit history of the business entity and the type of business (low or high risk) that will be carried out over the website; the bank approves or rejects the application on that basis. The e-commerce business must comply with the rules laid out by the bank.

The other one is a high risk merchant account. As the name implies, this account works well for high risk businesses that may not get approved for merchant accounts otherwise. For example, if you own a poker site, obtaining an online poker merchant account from a financial institution may be extraordinarily challenging or extremely expensive. In this case, you are better off working with a high risk specialist.

Compare credit card processor's rates

Invite quotes from five or more credit card processing services and compare their prices and features. The prices can vary based on the average sale amount per credit card transaction (average ticket size) and the number of transactions processed in a month. Whatever be the fees applied, they should be clearly mentioned at the start of the contract.

Whether you are hiring a low risk or a high risk credit card processing partner, you should take the time to do a comprehensive comparative study before making your final decision. Compare services rendered, rates charged, customer service, past records, etc. Get references from associates and ask questions freely. Switching credit card processors could be a cumbersome job. Get it right the first time around.

Credit card processing for high-risk merchants

In this day and age, accepting credit cards as a form of payment for your business is an absolute must. For the average retail business, it is as easy as calling a merchant bank and requesting a merchant account. However, some businesses are classified as “High Risk” by processing institutions and are much more difficult to get a merchant account for and are typically more expensive.

A high-risk merchant is any merchant that has very poor credit and/or owns a business that operates in an industry that is known for having higher than average chargebacks and a higher chance of transactions being fraudulent. A few good examples of businesses that would be considered “High Risk” are as follows.

• Casino and poker sites
• Adult Services
• Online pharmacies
• VoIP companies
• Travel agencies
• Subscription-based businesses

The reason that processing banks are hard on businesses that are considered high risk is simple. If a business fails to meet its obligation to provide its customers with a service or if a business goes bankrupt and a customer demands their funds be returned to them, then the merchant bank is obligated to refund the customer out of their own pocket. All of the risks associated with processing payments are absorbed by the bank itself, and the bank just does not want to deal with that.

So, what options does a high-risk business have?

A business owner always has the option of not acquiring a high-risk merchant account and, thus, not accepting credit cards as a form of payment. Unfortunately, accepting credit cards as a form of payment is a must in order for a business to flourish. If you do not have the ability to accept a credit card, a customer is likely to just go to one of your competitors.

A more feasible option is to choose a merchant account service provider specializing in working with high-risk businesses. These professionals offer a complete range of high-risk merchant services, including high-risk credit card direct processing and high-risk e-check processing solutions. With their assistance, you can accept credit card payments in as little time as possible with a stable, safe solution with fair rates and favorable payment terms.

How Does Credit Card Processing Work?

Setting up a merchant account is one of the wisest things you can do for the growth and expansion of your online business. After all, a merchant account is what makes it possible for you to process credit card payments on your website.

But how does the credit card processing system even work?

There is no reason why you should be familiar with the ins and outs of how the payment processing system works on your website, as your payment processor or acquirer will handle everything on your behalf. However, it is still a good idea for you to get to know the basics.

Understanding The Mechanism

Let's try to understand how the card processing system works with an example. Keep in mind that these steps are similar for both low risk and high risk merchant accounts.

1. A customer buys something worth $100 from your online store and pays with a credit card.
2. The $100 amount will first be transferred to the payment gateway, where payment will be authorized with a small deduction (say $0.5).
3. The ($99.5) amount will then be transferred to the appropriate processor and submitted to the card interchange after a further small deduction (e.g., $0.5).
4. After the transaction is cleared at the interchange, the $99 amount will be transferred to the issuing bank with a further deduction (another $0.5). This is where the issuing bank will verify the flow of funds to the customer's credit card.
5. If the issuing bank approves the transaction, the $98.5 then reaches the processor at the acquiring bank.
6. Once the payment is authorized by the acquiring bank, the bank deducts a small amount ($1) and the final amount of $97.5 gets deposited into the merchant's account.

(Note: In the case of high risk merchant accounts, such as an online poker merchant account, the fees are almost always higher than those of low risk merchant accounts.)

Today, Online payments are exclusively made electronically, especially with the extensive use of credit and debit cards. So, if you still do not have a credit card processing solution on your website, you are losing out on a ton of customers.