If you run a business that processes credit cards online, you might have considered opening an offshore merchant account. An offshore merchant account can make online credit card processing easier and more profitable, especially if you operate in a high risk industry, like online gambling or adult entertainment, or if you have little or no credit card processing history.
So, what are you waiting for? If you’re like many e-commerce merchants, the number one obstacle you face when thinking about setting up an offshore merchant account is registering your company offshore. And no wonder! Offshore incorporate often means:
- Paying $2,000-$5,000 to register your company offshore.
- Waiting 4-6 weeks.
- Potentially confusing tax implications.
For these reasons, many businesses opt to stick with domestic acquiring banks, even if it means higher rates, restrictive trading restrictions, credit card processing volume caps– even getting turned down for a merchant account. If only there were a way to test the benefits of an offshore merchant account without the hassle and commitment of incorporating offshore!
Experience the benefits of Instabill’s IPSP offshore merchant accounts.
With Instabill, there is. Instabill offers offshore merchant accounts through our internet payment service provider (IPSP) that allow you to process credit cards offshore without making any changes to your incorporation or tax status. Once you’re comfortable and successful processing offshore, Instabill will help you register your business offshore if and when you’re ready–for even greater benefits to your business!
Instabill’s IPSP offshore merchant accounts are available to merchants who initially intend to process less than about $200,000/month. You’ll get your own merchant account–and your unique, customizable billing descriptor, complete with your business’ telephone number, will appear on your customers’ credit card receipts, so you can maintain your high standards of customer service and minimize chargebacks. Please note that the initial $200,000 monthly processing limit applies per URL, so if you run more than one website, your processing capacity might be much higher.
- Unique, customizable billing descriptor
- Accounts are active in about one week
- You can accept payments in most major currencies, and get paid out in most major currencies.
Currencies supported by our IPSP offshore merchant accounts:
Offshore processing for high volume merchants
So, what happens when your offshore merchant account begins to process more than $200,000/month? First of all: Congratulations! We consider this a hallmark of a successful merchant account relationship. Rather than making life hard for you, Instabill offers our high volume offshore merchants a chance to graduate to the next level of offshore credit card processing.
If and when you reach this point, we’ll advise you to register your company in your acquiring bank’s locality. Instabill will facilitate your offshore incorporation for about $2,000, and you’ll have your offshore company set up in only two weeks. While you’re going through the process of incorporating offshore, there will be no interruption in your credit card processing. You can continue to use your merchant account to process credit cards online, and you won’t miss a payout! Once you’ve taken this step, you’ll enjoy all the benefits of offshore incorporation and offshore credit card processing, including daily payouts three days in arrears.
To find out more about Instabill’s offshore merchant accounts, contact us online or call 1-800-318-2713.