What is an International Merchant Account?
What are the merchant service providers and what do they do?
The service providers are also called acquirers or merchant banks. These are registered members of Visa and Master Card and are authorized by the two firms to process relevant transactions.
Some service providers will just allow you to accept credit card payments while others expand their services by acting as a payment gateway between you (the seller) and your client (the buyer).
As online shopping surges unstoppably, many firms directed to cater the demand for online acquirers. Thus, you see a lot of them online in a stiff competition against each other in trying to get clients. This results to an advantage for consumers as the services keep getting better. For instance, if you are in hurry to avail an account, you can have the international merchant account that is processed in as fast as a few days by the many provider firms.
What are the features of an international merchant account and what makes it more advantageous over the domestic merchant account?
There are obvious differences between the two. For one, true to its name, the domestic merchant account cannot process international transactions. The other is that the domestic account, unlike the international account, is always bound within the rules of the native country.
Aside from the obvious differences, the international merchant account has great features inherent to it. These are the things that a business owner will find very useful in providing an efficient mode of transaction between him and the client. For a brief description of these features, see the details below.
International Merchant Account
• Acceptance of payments in any currency. A merchant account recognized internationally allows you to erase international monetary borders by enabling you to accept credit card payments in any currency. This is a very efficient mode because of its broader applications.
• Virtual terminal feature. By having the account, you get to experience the convenience of transacting in a virtual terminal available 24/7.
• E-Reporting. Business owners can monitor their transactions easily by receiving online reporting.
• High security measures and protection. You can build confidence on the security of your transactions as service providers implement strict fraud protection and scam control measures.
To get a international merchant account, just sign up online. Stay safe and experience maximum benefits by signing up only with credible and authorized service providers.