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.