Saturday, 28 Aug, 2021
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On a growing momentum of development, many ecommerce enterprises will explore their business activities across the world to meet international needs. The cornerstone of global ecommerce usually starts with the help of offshore payment gateway. How does it work for the sake of offshore companies? Does it cost merchants more with offshore payment processors than local ones? Find more details of the writing below to understand offshore payment gateway for high risk sectors.
How does an offshore payment gateway work for the sake of international companies?
Offshore is a term indicating a location outside of a country that business is based. When it comes to the finance and banking services industry, offshore is similar to international service that enables clients to find the service outside the region where their primary headquarters are located.
Offshore payment gateway has become a common payment service for global ecommerce companies in recent years. Borderless business is the main benefit in ecommerce, and international firms may rely not only on local transactions but also international orders. As a result, online businesses should integrate an offshore payment gateway into their websites to accept credit, debit, or digital payments from their customers outside of the operation regions.
With the advantages of Business licenses in the US, many ecommerce firms are confident to expand their market share to Europe, especially the UK. Good quality of products and services helps the organizations earn trust from clients and receive a huge number of orders via online platforms or E-commerce sites. How can American enterprises collect payments from those deals?
By integrating offshore payment gateway in the UK, US ecommerce businesses can accept payments in all of Europe from the other side of the Atlantic ocean.
EU offshore payment gateway for US companies
Asia has been growing as a new trade center of the world. There is a massive amount of investment capital into this region. Singapore plays an important part in Asian markets. The country connects all commerce activities across the continent and is the hub of e-commerce and trading. Your EU company wants to widen business relationships with clients in Singapore. All you need is an offshore payment gateway in Singapore to help you collect online payments from all of Asia and vice versa.
Singapore offshore payment gateway for EU/UK companies
As a merchant, you might think that customer’s payments will be kept by the payment gateway, and this is not true. In fact, the process of acquiring online payments on ecommerce platforms or websites shares a similar operation between offshore payment processor and local payment processor.
The difference is that local payment gateways are limited to accept different types of international card payment or digital wallets or cryptocurrency outside the host country. This reduces competitive ability in the global ecommerce environment.
It is easy to manage your fund with an offshore payment gateway because you can register an offshore payment processor with any international bank account that you want. Therefore, managing cash flow and withdrawing money are simple like you usually do as domestic practice. Furthermore, the offshore payment processor does not keep your money, it is only incharge of transmitting communication between acquiring banks, card associations and issuing banks. That is why integrating an offshore payment processor into your website or ecommerce platform is totally secure for your money and your funds.
94% of international online businesses will choose the offshore payment gateway solution for their ecommerce. What benefits of the offshore payment gateway that the majority of ecommerce companies think of at the top of mind?
Some offshore payment gateway providers offer clients with higher volume of a transaction compared to local counterparts. Therefore, the rate of declined transactions can be mitigated and enhance your sales.
A customer can make an online payment in their local currency through an offshore payment system. Accepting payments online from diverse currencies can help you develop your business. You can expand your business abroad with just one safe platform integration.
It's a good idea to open many offshore merchant accounts with banks all over the world. You can manage all payment processing accounts from a single control panel thanks to a single plug-in of the offshore payment gateways. On a global or individual account basis, reporting, accounting, and chargeback processing data are all conveniently accessible.
If you aim to concentrate on some targeted markets, you might benefit from foreign policies compared to your local market. It is not only about tax policy but also other regulations from foreign governments and foreign exchange rates. All the attributes of difference in regulation stimulate more trade and commerce.
Card acceptance rates are higher when processing through an acquiring bank located in the regions where the buyer is located. With offshore payment gateway, enterprises can collect different types of credit/debit cards from Visa, Mastercard, American Express, JCB...
International business sometimes requires the company to open its subsidiary or representative office overseas. That could lead to an extra operation cost in general. As a result, for the first step of going global, online companies should run offshore business with international payment gateway and operate business from home country to reduce expenses.
At the first point, we should make clear that offshore payment gateway for high risk business does not mean illegal or questionable business activities compared to low risk business models. Low risk business activities do not indicate all onshore businesses or traditional, legal ones.
Whatever the level of risk that your company is operating, to set up a merchant account and offshore payment gateway for high risk businesses, all clients have to comply with AML (Anti-money Laundering) regulation strictly on a global scale. This means that offshore payment gateway for high risk industries still follow international regulation as well as local nation policy.
For more details about the AML policy of PayCEC, you might visit here!
Even if you are looking for an offshore payment gateway for high risk activity, you still need to check the prohibited list of industries before applying. The list below is not exhaustive and may be subject to regular changes.
In certain jurisdictions, there are some activities which are treated as prohibited fields of business. But in other foreign nations, those types of business are legitimate, and you can apply for offshore payment gateway without high risk worries.
At PayCEC, we offer the fair rates for offshore company clients. There would be no variation in terms of fees for different jurisdictions that our clients are based.
PayCEC supports settling new payment gateway for your online business in a fast time fashion with FREE of integration charge.
When you collaborate with PayCEC, your ecommerce firm will benefit from high volume processing and low international charge. Furthermore, you are able to apply for a chargeback protection package which helps you secure your business from unpredictable arguments.
Learn more about fees and terms here!
Please note that the fees and charges are subjected to alter from time to time.
Rates and terms for offshore payment gateway service
To apply for PayCEC payment gateway, firstly, you need to visit paycec.com. Then click on the “Sign up” button on the top right corner, and follow the steps on the screen.
PayCEC international payment gateway was established in response to the growing need of businesses to accept online payments more quickly and easily. In the digital era, our payment flow has evolved to work seamlessly and effectively across all platforms and devices. We pride ourselves on combining superior technology with first-class customer service.
PayCEC international payment gateway is a truly global payments platform that not only allows customers to get paid instantly and securely, but also withdraws funds to their business accounts in various currencies.
We have created an open and secure payments ecosystem that entrepreneurs and businesses choose to securely transact with each other online and on any device. We proudly maintain the highest level of client advocacy in the industry.
We are honored to serve as your reliable business partner and financial service provider in the industry and other business-related services. With the help of our professional staff, to help merchants to achieve their goals for the development and expansion of the international business market.
Our payment flow has developed in the e-commerce world to perform seamlessly and effectively across all platforms and devices. We take pleasure in combining technology with customer service, to solve your concerns at the moment.
PayCEC is a fully worldwide payment network that not only allows merchants to be paid immediately and securely, but also allows them to withdraw money in multiple currencies to their company accounts.