The eCommerce industry is among the most growing industries and it has enhanced a lot with the help of offshore payment gateways. Don’t we all know the importance of payment gateways for high-risk businesses? In many ways, it helps merchants operate a business most conveniently. You can benefits that explain the significance of an offshore payment gateway for eCommerce businesses. The blog is an insight into the payment solution services provided by gateway companies.
What Is An Offshore Payment Gateway?
An offshore payment gateway is a financial company that acts as a bridge for a merchant to receive payments from customers located globally. eCommerce businesses usually have a worldwide presence, an offshore payment solution service is vital for it.
How Does An Offshore Payment Gateway Help Merchants Boost Their Business Profit?
It will be interesting to read how the payment gateways with international presence can help your e-commerce business attain business goals.
- Multi-currency acceptance through speedy transactions –
Customers of e-commerce of widespread because today we live in a globalized village and the definition of globalization remains incomplete if businesses do not support it. A seller sitting in the UK can sell its products anywhere in Europe, America, Asia, Africa, and anywhere in the world. This happens with the power of currency because the merchant can receive payments in any currency it wants. Today, all payment solution companies deal in major currencies, which is significant support for business owners.
- Save money with fewer expenses
Using the same payment gateway for multi-currency transactions in varied business locations is an affordable option for a merchant. It is not required to connect to different payment gateways for payment processing. It saves a huge amount of money for a business, which can be used in enhancing the business resources to be used for the betterment of the company. With the saved money, a commercial entity can also improve its cash flow.
- Process high volume of transactions
Multinational businesses, especially the high-risk ones process millions of dollars every day. eCommerce is not an exception and the high-risk payment gateway for eCommerce helps process the bulk of transactions quickly. The wide network of gateway providers easily processes the bulk of payments received on daily basis. High-risk business owners are always anxious about how efficiently they can manage the bulk of the money flowing through the network in the form of payment, chargeback, refund, etc. But thanks to the payment industry has efficient tools to handle this responsibility.
- Accept payment from various debit and credit cards
International payment gateways give the liberty to accept payments from various credit cards or debit cards. Most of the payment gateways provide access to popular credit card networks such as Visa, American Express, Mastercard, JCB, etc. It helps a business not only receive payments conveniently but also work faster on business expansion plans.
- Get access to multiple merchant accounts easily
With the help of an offshore merchant account, it is possible to get approval for varied merchant accounts in varied countries. When the acquiring banks see that the merchant is connected to a renowned gateway, they immediately approve, an offshore merchant account for an eCommerce merchant. The payment gateway company even bargains for the merchant on the total cost of the merchant account and per transaction fee that normally goes high.
- Handle legal complications easily
Offshore payment gateways act smartly while handling international legal obligations for the merchants to whom they serve. Besides, their network is so vast that they already have connections worldwide and have a deep understanding of laws and business regulations. The merchants do not have to take any stress about eCommerce laws in varied countries. The payment solution provider always enlightens and supports the merchant in handling legal formalities.
- Assured safety in accordance with payment security rules
High-risk payment gateways are compliant with PCI-DSS rules that ensure the safety of each credit or debit card transaction. The financial information of the customers is safe and travels through an encrypted network. Technologies like tokenization, and SSL ensure that merchant process their daily transactions without any stress. The tools like card updater timely notify businesses about the expiry date of a customer’s credit card. It saves the merchant from the chaos of missed payments.
Conclusion
There is no doubt that an offshore payment gateway is a prime strength behind eCommerce merchants. It gives them the confidence to enter the global market and also survive despite the presence of their counterparts. With the payment solutions, no high-risk merchant can receive payments from its customers. He cannot even access a high-risk merchant account without the presence of a payment gateway. As you can read above, the list of benefits of a gateway company for an eCommerce business is long. If you are looking for professional assistance from a payment gateway, the Eskaypay eCommerce payment gateway can be a good choice. We have a proficient team that customizes solutions for your requirements and give round-the-clock support through AI tools.
