An international merchant account is used by vendors who deal with telemarketing businesses, E-wallet and E-cash, travel industry, ISP and hosting services, online pharmacy, adult entertainment, online dating services, online auctions and debt services etc.
Such transactions are called as “high risk” and need a high risk international merchant account. In case of providing payments online and involving credit card transactions without the customer’s signature and card swipe, it becomes a complication for the credit card processor. It becomes difficult to dispute a charge-back as there are no arguments such as records or receipts of the transaction. Charge-backs are expensive and at the same time many processing bank accounts demand higher rates, for these high risk business to make up for any things that can happen that would cause them harm.
Some of these businesses need a high risk international account because they can be illegal, the businessman’s credit history is not flexible or the business itself is so small that it will be very difficult for them to afford expensive software used to screen frauds or pay the processor’s fees itself. Sometimes large volumes of sales in certain ventures make it defenseless to fraud and these vendors become to be under the very high risk.
A high risk international merchant account gives an opportunity to merchants or businessmen to do credit card processing. Using the opportunity of an online payment process allows the businesses to accept payments at any time that will be possible, even at night, that will make the whole process of payment much easier for the customers and this permanently boosts the sales.
A potential client doesn’t need to undergo any enormous payment processes which might put him off and thereby lead to a low turnover. Online businesses are given by a high risk international account the power to accept currencies of various denominations from their online customers at any place in the world. It is also possible while transacting to save on taxes and other government fees. Finding a suitable for you high risk international account is easy, because any of them you can find on the internet. Before selecting a high risk international merchant account that would be most suitable to their business needs, one should just to go through the different reviews and check and compare the prices.