Offshore is a word that is generally used for cross-border places or an area outside of a certain country’s borders. By understanding the word “offshore,” knowing about an offshore payment gateway will be easier now. As of now, we have an idea about the word “offshore,” and for those who are not familiar with the word “payment gateway,” it is a financial tool that works as a middleman between the payment processor and merchants to conduct online transactions. Now it is pretty clear that an offshore payment gateway is used by businesses to get online payments that are operating across the borders of a specific country where that business’ headquarters are located.
Pros of an offshore payment gateway
- The offshore payment gateway allows a merchant to accept a high volume of transactions into his international merchant account without worrying about bank regulations.
- It accepts the majority of debit and credit cards in almost every country on the planet.
- The use of local currency for sale in a global payment gateway is one of the features that allows the merchant to expand business in the local market.
- With an offshore payment gateway, a business can target a specific market because of the multiple languages support, various payment modes, and currency acceptance.
Features to look out for while selecting an offshore payment gateway
Card Acceptance
As a global payment gateway, it is more important to accept almost every card across the globe. But if it is not possible, then at least a payment gateway can’t reject any of the major cards like Visa, MasterCard, etc.
Support different currencies and payment modes
An offshore business has to accept a country’s local currency to make a place in the local market, thus the acceptance of various currencies is vital for an offshore gateway. The same case is with the payment modes also because locals prefer to pay with a more familiar method to pay rather than using credit cards or e-wallets.
Protection against chargebacks
Offshore businesses are high-risk businesses where chargeback chances are way higher than other businesses. So it is more important for a payment gateway to protect its merchant account holder against chargebacks.
Tokenization and 3D Security
Tokenization is very critical in a global payment gateway because there are thousands of users of the portal per day that uses the platform. Due to tokenization, their vital data is secure on the platform. 3D security plays its part, while the authentication of the payment, where three layers of security are checked, can easily overturn anything if found to be fishy.
Data Security
For the security of data, PCI DSS certification is a must for an online platform. The PCI DSS certificate ensures that the user’s invaluable data is in safe hands.
These all numbers are narrating the same story and that story is of the growth of high-risk businesses worldwide. To capitalize on this situation as a merchant, you must have an offshore payment gateway or international merchant account for the worldwide expansion of your business. In the Netherlands, Webpays is one of the top global payment gateway providers.
Why do you have to choose WebPays for an offshore payment gateway?
Definitely, this might be the first thought that came to your mind after the suggestion of WebPays as a payment gateway, and this sudden thought brings up a sudden why in your head with it. So here is the answer to that question: Why do you have to choose WebPay for an international merchant account?
- In a global payment gateway, the very first thing that every offshore business wants is the acceptance of every major card operating worldwide. A merchant does not have to worry about it with the WebPays payment gateway because we accept all major credit cards from all countries.
- The second thing that an overseas business needs from a high-risk merchant account or payment gateway is the acceptance of various currencies and multiple payment methods. Because it is very important for an offshore business to accept the local currency and the preferred choice of locals as a payment method to gain trust and be a part of the local market.
- Security features played a vital role in the selection of a high-risk payment gateway. Ultimately, security features are the most important factor for everybody, be they, merchants or customers. The PCI DSS certification gave a sense of assurance to the user that their data is in safe hands, and webpays also have security features for the customer’s data protection; tokenization and 3D security make sure that users don’t get scammed.
- Along with the above features, Webpays provides many more brilliant ones in its payment gateway, like a powerful dashboard, 24×7 real-time reporting, and an easy integration process.
Ending Note
Offshore business is always a great option to cash in on the opportunities available in other markets around the globe, but as we all know in this modern world, technology has overtaken everything, including methods of payment (which are mostly online now). So as a merchant, you must match the changing surroundings step by step, and to take advantage of these changing surroundings, one must have a payment gateway. Getting a high-risk payment gateway for your business is now easier than buying candy. Just click here on the given link and get one for your business across the globe. For further details, mail us at info@webpays.com.
