What Country Is Best For High-Risk Merchant Account

Florence Carpenter

For businesses classified as high risk, it can be difficult to gain approval from merchant providers. Although the best country for a high-risk merchant account depends on a number of factors, such as the location of your primary customer base and other logistical aspects, European interchange rates are rather competitive. 

Statistics show that the euro and U.S. dollar together made up more than 6 out of 10 SWIFT payments worldwide, demonstrating the popularity of these two currencies. Because of this, you may save money if you choose to use an offshore merchant account instead of an American bank. 

Offshore and International Merchant Accounts 

Often, eCommerce businesses and other high-risk businesses can benefit from outsourcing labor, and can even receive tax breaks and financial incentives when it comes to payment processing. This can make any offshore merchant accounts especially attractive to high-risk processors that have trouble getting approval from U.S. acquiring banks. 

Similarly, international merchant accounts are used by both low-risk and high-risk businesses. They are used when the acquiring bank or payment processor is not located in the same country as the business's main headquarters. 

Factors to Consider When Choosing a High-Risk Merchant Overseas

Those interested in offshore and international merchant accounts can typically process higher volumes, which is ideal for fast-growing businesses. Some tips to consider when choosing a high-risk merchant located abroad include:

  • Reading up on the legal requirements of your chosen country
  • Comparing card acceptance rates 
  • Negotiating rates and contract terms as needed 
  • Being careful of sharing personal data 

Although high-risk merchants overseas may have plenty of benefits, you should always be aware of any hidden costs and legal issues that can pop up. Rapidly changing exchange rates can offset savings, among other factors. 

If you’re interested in diversifying your variety of payment methods, learn more about the process of accepting MOTO payments with a high-risk merchant account at Processing Card today!

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